New Zealand: Vitamin Market 2024

Vitamin Market Size in New Zealand

The New Zealand vitamin market was estimated at $X in 2021, standing approx. at 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). Over the period under review, consumption, however, posted a strong increase. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Vitamin Exports

Exports from New Zealand

In 2021, approx. X tons of provitamins and vitamins were exported from New Zealand; with a decrease of -39.7% against the previous year's figure. Over the period under review, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2017 with an increase of 108%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, vitamin exports shrank remarkably to $X in 2021. Overall, exports continue to indicate a deep setback. The pace of growth appeared the most rapid in 2020 when exports increased by 99% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Fiji (X tons), Taiwan (Chinese) (X tons) and Australia (X tons) were the main destinations of vitamin exports from New Zealand, together accounting for 65% of total exports. These countries were followed by Malaysia, Singapore, Myanmar, Hong Kong SAR, China, Saudi Arabia, Switzerland, French Polynesia and Vietnam, which together accounted for a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Switzerland (with a CAGR of +155.7%), while the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), Australia ($X) and Malaysia ($X) appeared to be the largest markets for vitamin exported from New Zealand worldwide, together comprising 58% of total exports. These countries were followed by Fiji, Switzerland, China, Singapore, Saudi Arabia, Hong Kong SAR, Vietnam, Myanmar and French Polynesia, which together accounted for a further 33%.

Myanmar, with a CAGR of +68.1%, 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, declining by -9.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.7%. The pace of growth was the most pronounced in 2015 an increase of 34%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to French Polynesia ($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 Malaysia (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.

Vitamin Imports

Imports into New Zealand

Vitamin imports into New Zealand fell to X tons in 2021, waning by -12.6% against 2020 figures. Over the period under review, imports, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 42%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, vitamin imports declined to $X in 2021. Overall, total imports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +2.4% 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 +4.8% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 30% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), China (X tons) and Australia (X tons) were the main suppliers of vitamin imports to New Zealand, together comprising 83% of total imports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +28.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Switzerland ($X) constituted the largest vitamin suppliers to New Zealand, together comprising 72% of total imports.

The United States, with a CAGR of +8.7%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average vitamin import price stood at $X per ton in 2021, surging by 13% against the previous year. Over the period under review, the import price, however, showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 when the average import price increased by 37%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Denmark ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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