Thailand: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in Thailand

The Thai medicaments containing vitamins market rose notably to $X in 2021, increasing by 8.1% against the previous year. The market value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Medicaments Containing Vitamins Production in Thailand

In value terms, medicaments containing vitamins production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the production volume increased by 31%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Medicaments Containing Vitamins Exports

Exports from Thailand

In 2021, approx. X tons of medicaments containing vitamins and provitamins were exported from Thailand; which is down by -8.4% on the previous year's figure. Overall, exports continue to indicate a perceptible slump. The most prominent rate of growth was recorded in 2020 with an increase of 35% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, medicaments containing vitamins exports rose notably to $X in 2021. In general, exports showed a perceptible shrinkage. The growth pace was the most rapid in 2017 when exports increased by 14% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Myanmar (X tons) was the main destination for medicaments containing vitamins exports from Thailand, accounting for a 70% share of total exports. Moreover, medicaments containing vitamins exports to Myanmar exceeded the volume sent to the second major destination, Cambodia (X tons), sixfold. China (X tons) ranked third in terms of total exports with a 3.6% share.

From 2012 to 2021, the average annual growth rate of volume to Myanmar amounted to +20.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (-19.9% per year) and China (+26.9% per year).

In value terms, Myanmar ($X) remains the key foreign market for medicaments containing vitamins and provitamins exports from Thailand, comprising 59% of total exports. The second position in the ranking was held by Vietnam ($X), with a 14% share of total exports. It was followed by Cambodia, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value to Myanmar totaled +5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-5.4% per year) and Cambodia (-21.3% per year).

Export Prices by Country

The average medicaments containing vitamins export price stood at $X per ton in 2021, with an increase of 20% against the previous year. Over the period under review, the export price, however, continues to indicate a slight downturn. The most prominent rate of growth was recorded in 2019 an increase of 23% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Cambodia ($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 Somalia (+8.9%), while the prices for the other major destinations experienced more modest paces of growth.

Medicaments Containing Vitamins Imports

Imports into Thailand

In 2021, medicaments containing vitamins imports into Thailand skyrocketed to X tons, rising by 21% compared with the year before. In general, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +19.6% against 2018 indices. The pace of growth was the most pronounced in 2018 with an increase of 32%. Imports peaked in 2021 and are likely to continue growth in years to come.

In value terms, medicaments containing vitamins imports skyrocketed to $X in 2021. Overall, imports showed a buoyant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 41%. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, Australia (X tons) constituted the largest medicaments containing vitamins supplier to Thailand, accounting for a 41% share of total imports. Moreover, medicaments containing vitamins imports from Australia exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), twofold. Italy (X tons) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Australia totaled +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+28.4% per year) and Italy (+0.3% per year).

In value terms, the largest medicaments containing vitamins suppliers to Thailand were Australia ($X), Japan ($X) and the United States ($X), with a combined 62% share of total imports. These countries were followed by Indonesia, China, Italy, Malaysia and Taiwan (Chinese), which together accounted for a further 18%.

China, with a CAGR of +59.8%, saw the highest rates of growth with regard to the value of imports, in terms of 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 medicaments containing vitamins import price stood at $X per ton in 2021, flattening at the previous year. In general, import price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, medicaments containing vitamins import price increased by +77.0% against 2013 indices. The pace of growth appeared the most rapid in 2017 an increase of 19%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

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 Japan ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+20.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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