Report Update Nov 1, 2024

Sri Lanka - Provitamins and Vitamins - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Vitamin Market 2024

Vitamin Market Size in Sri Lanka

The Sri Lankan vitamin market skyrocketed to $X in 2021, picking up by 39% 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). In general, consumption enjoyed strong growth. Over the period under review, the market attained the peak level in 2021 and is likely to see gradual growth in the near future.

Vitamin Exports

Exports from Sri Lanka

For the fifth consecutive year, Sri Lanka recorded growth in shipments abroad of provitamins and vitamins, which increased by 20% to X tons in 2021. Over the period under review, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 617%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, vitamin exports soared to $X in 2021. Overall, exports showed a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 635%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

Bangladesh (X tons) was the main destination for vitamin exports from Sri Lanka, accounting for a 67% share of total exports. Moreover, vitamin exports to Bangladesh exceeded the volume sent to the second major destination, Malaysia (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume to Bangladesh totaled +84.4%.

In value terms, the largest markets for vitamin exported from Sri Lanka were Malaysia ($X) and Bangladesh ($X).

Malaysia, with a CAGR of +59.8%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

In 2021, the average vitamin export price amounted to $X per ton, falling by -2.2% against the previous year. In general, the export price recorded a abrupt setback. The most prominent rate of growth was recorded in 2016 an increase of 48%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Bangladesh totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (-5.8%).

Vitamin Imports

Imports into Sri Lanka

In 2021, approx. X tons of provitamins and vitamins were imported into Sri Lanka; rising by 41% against 2020. Overall, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 64% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, vitamin imports soared to $X in 2021. In general, imports recorded a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 69%. Imports peaked in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of vitamin to Sri Lanka, with a 74% share of total imports. Moreover, vitamin imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), sevenfold. The third position in this ranking was held by France (X tons), with a 2.5% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +28.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+7.5% per year) and France (+33.0% per year).

In value terms, China ($X) constituted the largest supplier of provitamins and vitamins to Sri Lanka, comprising 68% of total imports. The second position in the ranking was held by India ($X), with a 5.8% share of total imports. It was followed by France, with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +25.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+5.3% per year) and France (+30.6% per year).

Import Prices by Country

In 2021, the average vitamin import price amounted to $X per ton, declining by -3.8% against the previous year. In general, the import price recorded a slight curtailment. The growth pace was the most rapid in 2016 an increase of 26% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 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 France ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (-1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for provitamins and vitamins in the world?

The countries with the highest volumes of vitamin consumption in 2020 were India, China and the United States, with a combined 53% share of global consumption. Canada, Germany, Japan, the UK, Italy and France lagged somewhat behind, together accounting for a further 21%.

What are the largest producers of provitamins and vitamins in the world?

The countries with the highest volumes of vitamin production in 2020 were China, India and Canada, together accounting for 77% of global production. Germany, Japan, Switzerland, the UK, Italy and France lagged somewhat behind, together comprising a further 14%.

What are the leading suppliers of provitamins and vitamins to Sri Lanka?

In value terms, China constituted the largest supplier of vitamin to Sri Lanka, comprising 69% of total imports. The second position in the ranking was occupied by France, with a 10% share of total imports. It was followed by India, with a 7.1% share.

What are the leading importers of provitamins and vitamins from Sri Lanka?

In value terms, India remains the key foreign market for vitamin exports from Sri Lanka, comprising 98% of total exports. The second position in the ranking was occupied by Malaysia $690), with a 1.6% share of total exports.

What is the average export price for provitamins and vitamins in Sri Lanka?

In 2020, the average vitamin export price amounted to $15,360 per ton, falling by -9.9% against the previous year.

What is the average import price for provitamins and vitamins in Sri Lanka?

In 2020, the average vitamin import price amounted to $14,477 per ton, rising by 5.1% against the previous year.

This report provides an in-depth analysis of the vitamin market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 21105100 - Provitamins and vitamins, natural or reproduced by synthesis (including natural concentrates), derivatives thereof used primarily as vitamins, and intermixtures of the foregoing, w hether or not in any solvent

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023