United Kingdom: Vitamin Market 2024

Vitamin Market Size in the UK

For the third consecutive year, the UK vitamin market recorded decline in sales value, which decreased by -0.4% to $X in 2021. Overall, consumption, however, continues to indicate a pronounced increase. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Vitamin Production in the UK

In value terms, vitamin production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 31%. Over the period under review, production hit record highs at $X in 2020, and then shrank modestly in the following year.

Vitamin Exports

Exports from the UK

In 2021, overseas shipments of provitamins and vitamins increased by 31% to X tons, rising for the second consecutive year after three years of decline. In general, total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +54.6% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, vitamin exports expanded significantly to $X in 2021. The total export value increased at an average annual rate of +4.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when exports increased by 17%. The exports peaked in 2021 and are likely to continue growth in the near future.

Exports by Country

The United States (X tons) was the main destination for vitamin exports from the UK, with a 14% share of total exports. Moreover, vitamin exports to the United States exceeded the volume sent to the second major destination, South Korea (X tons), twofold. The third position in this ranking was held by Poland (X tons), with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+8.6% per year) and Poland (+20.9% per year).

In value terms, the United States ($X), South Korea ($X) and Brazil ($X) constituted the largest markets for vitamin exported from the UK worldwide, together accounting for 25% of total exports. These countries were followed by Germany, Japan, China, Poland, Singapore, Canada, the Netherlands, the Philippines, Vietnam and Mexico, which together accounted for a further 22%.

The Philippines, with a CAGR of +25.0%, recorded the highest rates of growth with regard to 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, shrinking by -12.2% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 9.1% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Mexico ($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 the Netherlands (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.

Vitamin Imports

Imports into the UK

Vitamin imports into the UK dropped to X tons in 2021, with a decrease of -13.5% compared with the previous year. The total import volume increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 21% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, vitamin imports contracted to $X in 2021. Overall, total imports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +2.2% 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 decreased by -22.7% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 52%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The Netherlands (X tons), China (X tons) and Germany (X tons) were the main suppliers of vitamin imports to the UK, together accounting for 72% of total imports. These countries were followed by Ireland, Denmark, Belgium, France, India, the United States and Italy, which together accounted for a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +80.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vitamin suppliers to the UK were the Netherlands ($X), China ($X) and Germany ($X), with a combined 62% share of total imports. The United States, France, Ireland, Denmark, Italy, Belgium and India lagged somewhat behind, together comprising a further 30%.

Among the main suppliers, Italy, with a CAGR of +75.7%, saw the highest growth rate of 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

In 2021, the average vitamin import price amounted to $X per ton, increasing by 2.8% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by 26% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

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 ($X per ton), while the price for Belgium ($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 (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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