Northern America: Vitamin Market 2024

Vitamin Market Size in Northern America

In 2021, after two years of decline, there was significant growth in the North American vitamin market, when its value increased by 7.3% to $X. The total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Vitamin Production in Northern America

In value terms, vitamin production surged to $X in 2021 estimated in export price. The total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.0% 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 decreased by -13.4% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 46% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Vitamin Exports

Exports in Northern America

In 2021, approx. X tons of provitamins and vitamins were exported in Northern America; surging by 16% on the year before. The total export volume increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2017 with an increase of 29% against the previous year. The volume of export peaked in 2021 and is likely to see steady growth in the near future.

In value terms, vitamin exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 18% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

The United States dominates exports structure, accounting for X tons, which was near 95% of total exports in 2021. It was distantly followed by Canada (X tons), generating a 4.8% share of total exports.

The United States experienced a relatively flat trend pattern with regard to volume of exports of provitamins and vitamins. At the same time, Canada (+9.0%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +9.0% from 2012-2021. Canada (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while the United States saw its share reduced by -2.4% from 2012 to 2021, respectively.

In value terms, the United States ($X) remains the largest vitamin supplier in Northern America, comprising 96% of total exports. The second position in the ranking was taken by Canada ($X), with a 3.9% share of total exports.

From 2012 to 2021, the average annual growth rate of value in the United States stood at +3.5%.

Export Prices by Country

In 2021, the export price in Northern America amounted to $X per ton, remaining constant against the previous year. Over the last nine years, it increased at an average annual rate of +2.4%. The growth pace was the most rapid in 2016 when the export price increased by 16%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+2.5%).

Vitamin Imports

Imports in Northern America

In 2021, approx. X tons of provitamins and vitamins were imported in Northern America; waning by -2.3% against the previous year. Total imports indicated a pronounced increase from 2012 to 2021: its volume increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +32.7% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 36% against the previous year. As a result, imports attained the peak of X tons, and then reduced modestly in the following year.

In value terms, vitamin imports rose rapidly to $X in 2021. Total imports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +26.9% against 2019 indices. The growth pace was the most rapid in 2018 when imports increased by 29%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The United States was the major importer of provitamins and vitamins in Northern America, with the volume of imports recording X tons, which was near 87% of total imports in 2021. It was distantly followed by Canada (X tons), achieving a 13% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to vitamin imports into the United States stood at +4.4%. At the same time, Canada (+4.7%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +4.7% from 2012-2021. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported provitamins and vitamins in Northern America, comprising 84% of total imports. The second position in the ranking was taken by Canada ($X), with a 16% share of total imports.

From 2012 to 2021, the average annual growth rate of value in the United States stood at +3.8%.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2021, with an increase of 9.5% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the import price increased by 21% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (-0.3%).

Source: IndexBox Platform

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