Morocco: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in Morocco

The Moroccan medicaments containing vitamins market soared to $X in 2021, jumping by 271% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a pronounced shrinkage. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Medicaments Containing Vitamins Exports

Exports from Morocco

For the fourth consecutive year, Morocco recorded growth in overseas shipments of medicaments containing vitamins and provitamins, which increased by 0.3% to X tons in 2021. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 173% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, medicaments containing vitamins exports soared to $X in 2021. In general, exports recorded significant growth. The pace of growth appeared the most rapid in 2018 when exports increased by 182% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

France (X tons), Yemen (X tons) and Mauritania (X tons) were the main destinations of medicaments containing vitamins exports from Morocco, together accounting for 64% of total exports.

From 2012 to 2021, the biggest increases were recorded for Mauritania (with a CAGR of +39.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Yemen ($X) and Libya ($X) were the largest markets for medicaments containing vitamins exported from Morocco worldwide, together comprising 68% of total exports. Senegal, Iraq, Mauritania and Djibouti lagged somewhat behind, together accounting for a further 32%.

Senegal, with a CAGR of +47.3%, recorded the highest growth rate of the value of exports, in terms of 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 medicaments containing vitamins export price stood at $X per ton in 2021, picking up by 37% against the previous year. In general, export price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, medicaments containing vitamins export price increased by +74.5% against 2019 indices. The pace of growth was the most pronounced in 2018 when the average export price increased by 52%. The export price peaked in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while the average price for exports to Djibouti ($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 Iraq (+23.0%), while the prices for the other major destinations experienced more modest paces of growth.

Medicaments Containing Vitamins Imports

Imports into Morocco

Medicaments containing vitamins imports into Morocco surged to X tons in 2021, increasing by 31% against 2020 figures. In general, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -7.5% against 2019 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 118%. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, medicaments containing vitamins imports soared to $X in 2021. Over the period under review, imports continue to indicate a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, France (X tons) constituted the largest supplier of medicaments containing vitamins to Morocco, with a 43% share of total imports. Moreover, medicaments containing vitamins imports from France exceeded the figures recorded by the second-largest supplier, Spain (X tons), twofold. Belgium (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from France was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+29.1% per year) and Belgium (+70.5% per year).

In value terms, the largest medicaments containing vitamins suppliers to Morocco were France ($X), the United Arab Emirates ($X) and Belgium ($X), together comprising 80% of total imports.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of +128.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average medicaments containing vitamins import price stood at $X per ton in 2021, with an increase of 32% against the previous year. Overall, import price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, medicaments containing vitamins import price increased by +98.8% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the average import price increased by 51%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the near future.

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 Denmark ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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