Turkey: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in Turkey

In 2021, the Turkish medicaments containing vitamins market was finally on the rise to reach $X after two years of decline. In general, consumption posted strong growth. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Medicaments Containing Vitamins Production in Turkey

In value terms, medicaments containing vitamins production skyrocketed to $X in 2021 estimated in export price. In general, production showed resilient growth. The pace of growth appeared the most rapid in 2018 when the production volume increased by 306% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Medicaments Containing Vitamins Exports

Exports from Turkey

In 2021, exports of medicaments containing vitamins and provitamins from Turkey rose slightly to X tons, surging by 4.2% against 2020 figures. Overall, exports posted a buoyant increase. The pace of growth was the most pronounced in 2015 when exports increased by 78%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, medicaments containing vitamins exports soared to $X in 2021. Over the period under review, exports posted a significant increase. The growth pace was the most rapid in 2015 when exports increased by 182%. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Uzbekistan (X tons), Kazakhstan (X tons) and Kyrgyzstan (X tons) were the main destinations of medicaments containing vitamins exports from Turkey, with a combined 52% share of total exports. These countries were followed by Bulgaria, Iraq, Georgia, Azerbaijan, Moldova, Oman, Tajikistan, Russia, Libya and Ukraine, which together accounted for a further 39%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Tajikistan (with a CAGR of +133.2%), while the other leaders experienced more modest paces of growth.

In value terms, Uzbekistan ($X), Kazakhstan ($X) and Bulgaria ($X) appeared to be the largest markets for medicaments containing vitamins exported from Turkey worldwide, with a combined 58% share of total exports.

Bulgaria, with a CAGR of +144.2%, recorded 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 medicaments containing vitamins export price amounted to $X per ton, jumping by 30% against the previous year. Overall, export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, medicaments containing vitamins export price increased by +33.2% against 2018 indices. The growth pace was the most rapid in 2015 when the average export price increased by 59% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while the average price for exports to Libya ($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 Georgia (+26.4%), while the prices for the other major destinations experienced more modest paces of growth.

Medicaments Containing Vitamins Imports

Imports into Turkey

In 2021, after two years of decline, there was significant growth in purchases abroad of medicaments containing vitamins and provitamins, when their volume increased by 14% to X tons. Overall, imports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2015 with an increase of 53%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, medicaments containing vitamins imports skyrocketed to $X in 2021. In general, imports, however, recorded a slight descent. The growth pace was the most rapid in 2015 when imports increased by 46%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest medicaments containing vitamins supplier to Turkey, accounting for a 45% share of total imports. Moreover, medicaments containing vitamins imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. Egypt (X tons) ranked third in terms of total imports with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates totaled +79.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+8.3% per year) and Egypt (+0.7% per year).

In value terms, Egypt ($X) constituted the largest supplier of medicaments containing vitamins and provitamins to Turkey, comprising 35% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 15% share of total imports. It was followed by Switzerland, with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Egypt stood at +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+48.0% per year) and Switzerland (+88.3% per year).

Import Prices by Country

In 2021, the average medicaments containing vitamins import price amounted to $X per ton, increasing by 2.7% against the previous year. Over the period under review, the import price, however, saw a abrupt decrease. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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