MERCOSUR: Vitamin Market 2024

Vitamin Market Size in MERCOSUR

The MERCOSUR vitamin market fell slightly to $X in 2021, approximately reflecting the previous year. The market value increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X, leveling off in the following year.

Vitamin Production in MERCOSUR

In value terms, vitamin production reduced to $X in 2021 estimated in export price. The total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +51.2% against 2015 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 40% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then contracted in the following year.

Vitamin Exports

Exports in MERCOSUR

In 2021, the amount of provitamins and vitamins exported in MERCOSUR skyrocketed to X tons, picking up by 34% compared with 2020 figures. In general, exports, however, continue to indicate a perceptible contraction. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, vitamin exports skyrocketed to $X in 2021. Total exports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 45%. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

The biggest shipments were from Brazil (X tons), Argentina (X tons), Uruguay (X tons) and Colombia (X tons), together accounting for 89% of total export. It was distantly followed by Ecuador (X tons), making up a 5.6% share of total exports. Peru (X tons) took a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Colombia (with a CAGR of +12.3%), while the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X) remains the largest vitamin supplier in MERCOSUR, comprising 62% of total exports. The second position in the ranking was held by Brazil ($X), with a 12% share of total exports. It was followed by Uruguay, with a 10% share.

In Argentina, vitamin exports expanded at an average annual rate of +9.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Brazil (-2.0% per year) and Uruguay (-5.0% per year).

Export Prices by Country

In 2021, the export price in MERCOSUR amounted to $X per ton, with an increase of 7.8% against the previous year. Export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the export price increased by 83% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ecuador (+24.4%), while the other leaders experienced mixed trends in the export price figures.

Vitamin Imports

Imports in MERCOSUR

In 2021, approx. X tons of provitamins and vitamins were imported in MERCOSUR; increasing by 11% on the previous year's figure. The total import volume increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 21%. The volume of import peaked in 2021 and is likely to see steady growth in the near future.

In value terms, vitamin imports soared to $X in 2021. Total imports indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.9% 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 decreased by -10.7% against 2018 indices. The growth pace was the most rapid in 2018 when imports increased by 48%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Brazil (X tons) represented the largest importer of provitamins and vitamins, creating 53% of total imports. It was distantly followed by Chile (X tons), Colombia (X tons), Argentina (X tons), Peru (X tons) and Ecuador (X tons), together committing a 44% share of total imports. Venezuela (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to vitamin imports into Brazil stood at +5.9%. At the same time, Ecuador (+11.4%), Peru (+6.4%), Colombia (+6.3%), Chile (+4.5%) and Argentina (+2.0%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +11.4% from 2012-2021. By contrast, Venezuela (-21.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Brazil, Ecuador and Colombia increased by +11, +3 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported provitamins and vitamins in MERCOSUR, comprising 53% of total imports. The second position in the ranking was taken by Colombia ($X), with an 11% share of total imports. It was followed by Argentina, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil totaled +6.4%. The remaining importing countries recorded the following average annual rates of imports growth: Colombia (+4.0% per year) and Argentina (+2.3% per year).

Import Prices by Country

In 2021, the import price in MERCOSUR amounted to $X per ton, increasing by 9% against the previous year. Over the period under review, the import price, however, saw a slight descent. The pace of growth was the most pronounced in 2018 an increase of 24%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Venezuela ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+0.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform