Sweden: Vitamin Market 2024

Vitamin Market Size in Sweden

The Swedish vitamin market rose sharply to $X in 2021, picking up by 13% against the previous year. Overall, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.8% 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 +30.4% against 2019 indices. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the immediate term.

Vitamin Production in Sweden

In value terms, vitamin production fell to $X in 2021 estimated in export price. Overall, production showed a pronounced curtailment. The pace of growth appeared the most rapid in 2018 when the production volume increased by 9.7% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Vitamin Exports

Exports from Sweden

In 2021, vitamin exports from Sweden rose markedly to X tons, growing by 6.4% on 2020 figures. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 61% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, vitamin exports surged to $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 111% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Finland (X tons), Canada (X tons) and Norway (X tons) were the main destinations of vitamin exports from Sweden, together accounting for 57% of total exports.

From 2012 to 2021, the biggest increases were recorded for Canada (with a CAGR of +167.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), Finland ($X) and China ($X) were the largest markets for vitamin exported from Sweden worldwide, together comprising 55% of total exports.

Canada, with a CAGR of +156.5%, saw the highest growth rate of the value of exports, among the main countries of destination 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 26% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 36% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 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 China ($X per ton), while the average price for exports to Latvia ($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 China (+21.7%), while the prices for the other major destinations experienced more modest paces of growth.

Vitamin Imports

Imports into Sweden

In 2021, the amount of provitamins and vitamins imported into Sweden rose remarkably to X tons, increasing by 5.7% compared with 2020. The total import volume increased at an average annual rate of +3.2% 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 2017 with an increase of 14% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; afterwards, it flattened through to 2021.

In value terms, vitamin imports skyrocketed to $X in 2021. In general, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +42.3% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 26% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

Germany (X tons), Denmark (X tons) and France (X tons) were the main suppliers of vitamin imports to Sweden, together comprising 59% of total imports. These countries were followed by China, the Netherlands, Lithuania, the United States, Slovakia, Finland, Belgium and the UK, which together accounted for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lithuania (with a CAGR of +71.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vitamin suppliers to Sweden were Germany ($X), the United States ($X) and Denmark ($X), together comprising 50% of total imports. France, the Netherlands, China, Finland, Belgium, Slovakia, the UK and Lithuania lagged somewhat behind, together comprising a further 36%.

Among the main suppliers, Lithuania, with a CAGR of +53.0%, saw the highest rates of growth with regard to the value of imports, 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, surging by 9.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.6%. The pace of growth was the most pronounced in 2020 an increase of 30% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Lithuania ($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 (+18.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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