Spain: Vitamin Market 2024

Vitamin Market Size in Spain

The Spanish vitamin market expanded rapidly to $X in 2021, surging by 5.1% against the previous year. Over the period under review, the total consumption indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +2.7% against 2018 indices. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Vitamin Production in Spain

In value terms, vitamin production fell to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 25%. Vitamin production peaked at $X in 2020, and then fell in the following year.

Vitamin Exports

Exports from Spain

Vitamin exports from Spain expanded slightly to X tons in 2021, with an increase of 4.9% on the year before. In general, total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +9.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +116.5% against 2012 indices. The growth pace was the most rapid in 2013 when exports increased by 19%. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, vitamin exports surged to $X in 2021. Overall, total exports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +68.2% against 2015 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 25%. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

Portugal (X tons) was the main destination for vitamin exports from Spain, accounting for a 35% share of total exports. Moreover, vitamin exports to Portugal exceeded the volume sent to the second major destination, Italy (X tons), twofold. The third position in this ranking was held by Panama (X tons), with a 6.2% share.

From 2012 to 2021, the average annual growth rate of volume to Portugal totaled +7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+42.1% per year) and Panama (+7.8% per year).

In value terms, the largest markets for vitamin exported from Spain were Germany ($X), Portugal ($X) and Italy ($X), together comprising 38% of total exports.

Among the main countries of destination, Italy, with a CAGR of +35.7%, saw the highest growth rate of the value of exports, 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, with an increase of 9.8% against the previous year. In general, the export price, however, showed a slight descent. The most prominent rate of growth was recorded in 2018 when the average export price increased by 16%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Panama ($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 Morocco (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Vitamin Imports

Imports into Spain

In 2021, the amount of provitamins and vitamins imported into Spain expanded rapidly to X tons, picking up by 11% against 2020 figures. In general, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +8.3% 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 +10.6% against 2018 indices. The pace of growth appeared the most rapid in 2017 with an increase of 16%. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in the near future.

In value terms, vitamin imports expanded markedly to $X in 2021. Overall, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.2% 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 +1.8% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 27%. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

The Netherlands (X tons), China (X tons) and Germany (X tons) were the main suppliers of vitamin imports to Spain, together comprising 75% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +20.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), China ($X) and Germany ($X) constituted the largest vitamin suppliers to Spain, together accounting for 75% of total imports.

The Netherlands, with a CAGR of +19.3%, 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, standing approx. at the previous year. In general, the import price, however, recorded a slight decrease. The pace of growth appeared the most rapid in 2018 when the average import price increased by 12% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from the UK ($X per ton) and France ($X per ton), while the price for Germany ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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