Ireland: Vitamin Market 2024

Vitamin Market Size in Ireland

The Irish vitamin market reduced to $X in 2021, declining by -12.7% against the previous year. Overall, consumption saw a deep setback. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Vitamin Production in Ireland

In value terms, vitamin production totaled $X in 2021 estimated in export price. Overall, production continues to indicate strong growth. The most prominent rate of growth was recorded in 2015 with an increase of 109%. Vitamin production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Vitamin Exports

Exports from Ireland

In 2021, overseas shipments of provitamins and vitamins decreased by -23.6% to X tons, falling for the third consecutive year after five years of growth. In general, exports saw a slight downturn. The pace of growth was the most pronounced in 2018 when exports increased by 27%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, vitamin exports stood at $X in 2021. Overall, exports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of 99%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X tons), the Netherlands (X tons) and the UK (X tons) were the main destinations of vitamin exports from Ireland, together accounting for 70% of total exports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +44.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and the UK ($X) constituted the largest markets for vitamin exported from Ireland worldwide, together comprising 70% of total exports. Kuwait, Belgium, Spain, Qatar, Russia, the United States and Saudi Arabia lagged somewhat behind, together comprising a further 16%.

Among the main countries of destination, Qatar, with a CAGR of +69.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average vitamin export price stood at $X per ton in 2021, surging by 32% against the previous year. In general, the export price enjoyed prominent growth. The most prominent rate of growth was recorded in 2018 when the average export price increased by 57%. The export price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+24.8%), while the prices for the other major destinations experienced more modest paces of growth.

Vitamin Imports

Imports into Ireland

Vitamin imports into Ireland declined rapidly to X tons in 2021, waning by -20.5% against the previous year. Overall, imports showed a abrupt setback. The most prominent rate of growth was recorded in 2016 when imports increased by 112%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, vitamin imports fell to $X in 2021. Over the period under review, imports continue to indicate a perceptible contraction. The growth pace was the most rapid in 2016 when imports increased by 89%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of vitamin to Ireland, with a 41% share of total imports. Moreover, vitamin imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. The third position in this ranking was taken by Austria (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Germany totaled +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-11.8% per year) and Austria (+109.2% per year).

In value terms, Denmark ($X) constituted the largest supplier of provitamins and vitamins to Ireland, comprising 55% of total imports. The second position in the ranking was held by Germany ($X), with a 10% share of total imports. It was followed by the Netherlands, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Denmark was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.9% per year) and the Netherlands (-1.2% per year).

Import Prices by Country

In 2021, the average vitamin import price amounted to $X per ton, growing by 7.2% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vitamin import price increased by +99.5% against 2016 indices. The pace of growth was the most pronounced in 2017 an increase of 37% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Denmark ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+17.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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