Italy: Vitamin Market 2024

Vitamin Market Size in Italy

The Italian vitamin market reduced to $X in 2021, which is down by -9.6% against the previous year. Overall, the total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -9.8% against 2018 indices. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Vitamin Production in Italy

In value terms, vitamin production fell to $X in 2021 estimated in export price. Overall, the total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -20.9% against 2019 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 31%. Vitamin production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Vitamin Exports

Exports from Italy

For the third year in a row, Italy recorded growth in shipments abroad of provitamins and vitamins, which increased by 30% to X tons in 2021. In general, total exports indicated measured growth from 2012 to 2021: its volume increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +96.2% against 2018 indices. The growth pace was the most rapid in 2019 when exports increased by 35% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, vitamin exports expanded notably to $X in 2021. Over the period under review, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 55% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

The Netherlands (X tons), Switzerland (X tons) and South Africa (X tons) were the main destinations of vitamin exports from Italy, together accounting for 42% of total exports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +60.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), the United States ($X) and Switzerland ($X) appeared to be the largest markets for vitamin exported from Italy worldwide, together accounting for 49% of total exports.

The Netherlands, with a CAGR of +52.8%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average vitamin export price amounted to $X per ton, falling by -13.4% against the previous year. Overall, the export price, however, recorded pronounced growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by 43%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Algeria ($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 China (+13.7%), while the prices for the other major destinations experienced more modest paces of growth.

Vitamin Imports

Imports into Italy

In 2021, vitamin imports into Italy amounted to X tons, rising by 4.4% on the previous year's figure. Overall, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +66.7% against 2015 indices. The growth pace was the most rapid in 2016 when imports increased by 19%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, vitamin imports shrank modestly to $X in 2021. Over the period under review, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +102.4% against 2015 indices. The growth pace was the most rapid in 2018 when imports increased by 35% against the previous year. Over the period under review, imports attained the maximum at $X in 2020, and then reduced slightly in the following year.

Imports by Country

The Netherlands (X tons), Germany (X tons) and China (X tons) were the main suppliers of vitamin imports to Italy, together accounting for 62% of total imports. France, Spain, Belgium and Slovenia lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2021, the biggest increases were recorded for Slovenia (with a CAGR of +55.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) constituted the largest supplier of provitamins and vitamins to Italy, comprising 39% of total imports. The second position in the ranking was taken by Germany ($X), with a 15% share of total imports. It was followed by China, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Netherlands stood at +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.0% per year) and China (+5.5% per year).

Import Prices by Country

In 2021, the average vitamin import price amounted to $X per ton, declining by -8.9% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 25%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Slovenia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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