Scandinavia: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in Scandinavia

In 2021, the Scandinavia medicaments containing vitamins market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Medicaments Containing Vitamins Production in Scandinavia

In value terms, medicaments containing vitamins production contracted notably to $X in 2021 estimated in export price. In general, production, however, continues to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2020 with an increase of 23% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Medicaments Containing Vitamins Exports

Exports in Scandinavia

In 2021, shipments abroad of medicaments containing vitamins and provitamins increased by 83% to X tons, rising for the fourth year in a row after five years of decline. Overall, exports showed prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of 85% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, medicaments containing vitamins exports rose markedly to $X in 2021. The total export value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 58%. The level of export peaked in 2021 and is likely to see gradual growth in the near future.

Exports by Country

Sweden was the main exporting country with an export of about X tons, which finished at 74% of total exports. Norway (X tons) took the second position in the ranking, distantly followed by Denmark (X tons). All these countries together held near 26% share of total exports.

Sweden was also the fastest-growing in terms of the medicaments containing vitamins and provitamins exports, with a CAGR of +41.8% from 2012 to 2021. Denmark (-2.4%) and Norway (-4.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Sweden increased by +66 percentage points.

In value terms, Sweden ($X) remains the largest medicaments containing vitamins supplier in Scandinavia, comprising 61% of total exports. The second position in the ranking was held by Norway ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Sweden stood at +28.5%. In the other countries, the average annual rates were as follows: Norway (-4.9% per year) and Denmark (-10.5% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, dropping by -41.6% against the previous year. In general, the export price saw a abrupt decrease. The most prominent rate of growth was recorded in 2017 when the export price increased by 12%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (-0.3%), while the other leaders experienced a decline in the export price figures.

Medicaments Containing Vitamins Imports

Imports in Scandinavia

Medicaments containing vitamins imports stood at X tons in 2021, growing by 4.4% against 2020 figures. Over the period under review, imports saw a prominent increase. The most prominent rate of growth was recorded in 2020 when imports increased by 24% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, medicaments containing vitamins imports shrank significantly to $X in 2021. In general, imports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2020 with an increase of 34% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Denmark (X tons) and Sweden (X tons) were the key importers of medicaments containing vitamins and provitamins in Scandinavia, together making up 69% of total imports. It was distantly followed by Norway (X tons) and Finland (X tons), together creating a 30% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Norway (with a CAGR of +26.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X) constitutes the largest market for imported medicaments containing vitamins and provitamins in Scandinavia, comprising 44% of total imports. The second position in the ranking was taken by Norway ($X), with a 21% share of total imports. It was followed by Sweden, with a 21% share.

In Denmark, medicaments containing vitamins imports shrank by an average annual rate of -10.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Norway (+12.9% per year) and Sweden (-5.9% per year).

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, with a decrease of -19.1% against the previous year. In general, the import price faced a deep downturn. The pace of growth appeared the most rapid in 2020 when the import price increased by 8.3%. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (-5.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform