Latin America and the Caribbean: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in Latin America and the Caribbean

After two years of decline, the Latin American medicaments containing vitamins market increased by 8.3% to $X in 2021. The market value increased at an average annual rate of +2.6% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Medicaments Containing Vitamins Production in Latin America and the Caribbean

In value terms, medicaments containing vitamins production expanded to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 with an increase of 66% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Medicaments Containing Vitamins Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of medicaments containing vitamins and provitamins increased by 6.7% to X tons, rising for the second consecutive year after five years of decline. Over the period under review, exports, however, saw a abrupt decrease. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, medicaments containing vitamins exports amounted to $X in 2021. Overall, exports, however, continue to indicate a noticeable setback. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Mexico (X tons), Argentina (X tons), Colombia (X tons), El Salvador (X tons), Guatemala (X tons), Peru (X tons), Brazil (X tons) and Uruguay (X tons), together accounting for 94% of total export.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of +7.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest medicaments containing vitamins supplying countries in Latin America and the Caribbean were Colombia ($X), Mexico ($X) and Argentina ($X), with a combined 60% share of total exports. Guatemala, El Salvador, Uruguay, Peru and Brazil lagged somewhat behind, together comprising a further 34%.

Among the main exporting countries, Peru, with a CAGR of +8.5%, 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

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, waning by -2.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2015 when the export price increased by 16%. Over the period under review, the export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+5.9%), while the other leaders experienced more modest paces of growth.

Medicaments Containing Vitamins Imports

Imports in Latin America and the Caribbean

In 2021, purchases abroad of medicaments containing vitamins and provitamins increased by 27% to X tons, rising for the fourth consecutive year after three years of decline. In general, imports saw a relatively flat trend pattern. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, medicaments containing vitamins imports expanded sharply to $X in 2021. Over the period under review, imports, however, recorded a pronounced downturn. The pace of growth appeared the most rapid in 2015 when imports increased by 8.4% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Mexico was the major importing country with an import of around X tons, which reached 31% of total imports. It was distantly followed by Colombia (X tons), Ecuador (X tons), Guatemala (X tons), Brazil (X tons), the Dominican Republic (X tons) and Nicaragua (X tons), together making up a 39% share of total imports. Bolivia (X tons), Venezuela (X tons), Peru (X tons), El Salvador (X tons), Honduras (X tons) and Argentina (X tons) took a relatively small share of total imports.

Imports into Mexico increased at an average annual rate of +5.6% from 2012 to 2021. At the same time, Bolivia (+10.5%), Argentina (+9.7%), the Dominican Republic (+7.8%), Guatemala (+6.6%), Colombia (+4.1%), El Salvador (+3.8%), Peru (+3.5%) and Nicaragua (+2.8%) displayed positive paces of growth. Moreover, Bolivia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +10.5% from 2012-2021. By contrast, Ecuador (-2.2%), Brazil (-2.7%), Honduras (-5.4%) and Venezuela (-17.2%) illustrated a downward trend over the same period. While the share of Mexico (+11 p.p.), the Dominican Republic (+2.6 p.p.), Colombia (+2.5 p.p.), Bolivia (+2.5 p.p.) and Guatemala (+2.4 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Honduras (-2 p.p.), Ecuador (-2.1 p.p.), Brazil (-2.1 p.p.) and Venezuela (-15.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest medicaments containing vitamins importing markets in Latin America and the Caribbean were Mexico ($X), Ecuador ($X) and Guatemala ($X), together accounting for 37% of total imports.

Guatemala, with a CAGR of +10.2%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, falling by -16.1% against the previous year. In general, the import price showed a perceptible contraction. The pace of growth appeared the most rapid in 2015 when the import price increased by 19%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was El Salvador ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ecuador (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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