Oman: Vitamin Market 2024

Vitamin Market Size in Oman

The Omani vitamin market was estimated at $X in 2021, picking up by 2.3% 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, showed a resilient increase. Vitamin consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Vitamin Exports

Exports from Oman

In 2021, approx. X tons of provitamins and vitamins were exported from Oman; growing by 556% compared with the previous year. Overall, exports saw a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, vitamin exports surged to $X in 2021. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 195% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in years to come.

Exports by Country

The United Arab Emirates (X tons) was the main destination for vitamin exports from Oman, accounting for a 77% share of total exports. Moreover, vitamin exports to the United Arab Emirates exceeded the volume sent to the second major destination, Yemen (X tons), fivefold. Iran (X tons) ranked third in terms of total exports with a 5.6% share.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates stood at +71.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (+16.0% per year) and Iran (+29.2% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for provitamins and vitamins exports from Oman, comprising 60% of total exports. The second position in the ranking was held by Iran ($X), with a 21% share of total exports. It was followed by Yemen, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates stood at +55.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+40.2% per year) and Yemen (+8.3% per year).

Export Prices by Country

The average vitamin export price stood at $X per ton in 2021, which is down by -55.3% against the previous year. Overall, the export price recorded a abrupt setback. The pace of growth was the most pronounced in 2019 when the average export price increased by 274%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

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 Iran ($X per ton), while the average price for exports to the United Arab Emirates ($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 Iran (+8.5%), while the prices for the other major destinations experienced a decline.

Vitamin Imports

Imports into Oman

For the third consecutive year, Oman recorded growth in supplies from abroad of provitamins and vitamins, which increased by 4% to X tons in 2021. Over the period under review, imports saw prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of 143% against the previous year. Imports peaked in 2021 and are likely to continue growth in the near future.

In value terms, vitamin imports expanded remarkably to $X in 2021. In general, imports continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2014 when imports increased by 198%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest vitamin supplier to Oman, accounting for a 23% share of total imports. Moreover, vitamin imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. Vietnam (X tons) ranked third in terms of total imports with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates stood at +27.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+20.0% per year) and Vietnam (+8.1% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of provitamins and vitamins to Oman, comprising 21% of total imports. The second position in the ranking was held by Qatar ($X), with a 10% share of total imports. It was followed by India, with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates totaled +36.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Qatar (+23.4% per year) and India (+11.7% per year).

Import Prices by Country

The average vitamin import price stood at $X per ton in 2021, rising by 7.3% against the previous year. In general, import price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vitamin import price increased by +18.4% against 2019 indices. The pace of growth appeared the most rapid in 2015 when the average import price increased by 34%. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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