Malaysia: Vitamin Market 2024

Vitamin Market Size in Malaysia

In 2021, after seven years of growth, there was decline in the Malaysian vitamin market, when its value decreased by -0.3% to $X. In general, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +95.4% against 2013 indices. Vitamin consumption peaked at $X in 2020, and then reduced slightly in the following year.

Vitamin Production in Malaysia

In value terms, vitamin production shrank to $X in 2021 estimated in export price. Over the period under review, production, however, recorded prominent growth. The growth pace was the most rapid in 2014 with an increase of 88%. Over the period under review, production reached the peak level at $X in 2020, and then declined in the following year.

Vitamin Exports

Exports from Malaysia

In 2021, the amount of provitamins and vitamins exported from Malaysia soared to X tons, with an increase of 29% compared with 2020 figures. In general, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of 61% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, vitamin exports surged to $X in 2021. Over the period under review, exports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2015 when exports increased by 56% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

Indonesia (X tons), Singapore (X tons) and the United States (X tons) were the main destinations of vitamin exports from Malaysia, with a combined 45% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +96.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Denmark ($X) and Singapore ($X) were the largest markets for vitamin exported from Malaysia worldwide, together accounting for 50% of total exports.

The United States, with a CAGR of +73.3%, saw the highest growth rate of 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

The average vitamin export price stood at $X per ton in 2021, with a decrease of -1.6% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 17%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Thailand ($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 (+0.5%), while the prices for the other major destinations experienced mixed trend patterns.

Vitamin Imports

Imports into Malaysia

In 2021, purchases abroad of provitamins and vitamins increased by 15% to X tons, rising for the third consecutive year after two years of decline. The total import volume increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by 21% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

In value terms, vitamin imports expanded rapidly to $X in 2021. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest vitamin supplier to Malaysia, with a 52% share of total imports. Moreover, vitamin imports from China exceeded the figures recorded by the second-largest supplier, Sri Lanka (X tons), fivefold. The Netherlands (X tons) ranked third in terms of total imports with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (+52.9% per year) and the Netherlands (+20.7% per year).

In value terms, China ($X) constituted the largest supplier of provitamins and vitamins to Malaysia, comprising 46% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 6.9% share of total imports. It was followed by the United States, with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+26.8% per year) and the United States (-7.6% per year).

Import Prices by Country

The average vitamin import price stood at $X per ton in 2021, reducing by -1.6% against the previous year. In general, the import price showed a pronounced reduction. The growth pace was the most rapid in 2017 when the average import price increased by 12%. The import price peaked at $X per ton in 2012; however, from 2013 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 the United States ($X per ton), while the price for Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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