Vietnam: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in Vietnam

The Vietnamese medicaments containing vitamins market skyrocketed to $X in 2021, increasing by 178% 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). Overall, consumption showed a relatively flat trend pattern. Medicaments containing vitamins consumption peaked in 2021 and is expected to retain growth in years to come.

Medicaments Containing Vitamins Exports

Exports from Vietnam

In 2021, the amount of medicaments containing vitamins and provitamins exported from Vietnam dropped markedly to X tons, reducing by -44.7% against the previous year's figure. Overall, exports, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of 211% against the previous year. As a result, the exports reached the peak of X tons, and then reduced rapidly in the following year.

In value terms, medicaments containing vitamins exports shrank dramatically to $X in 2021. In general, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of 241%. The exports peaked at $X in 2020, and then fell rapidly in the following year.

Exports by Country

Nigeria (X tons) was the main destination for medicaments containing vitamins exports from Vietnam, with a 56% share of total exports. Moreover, medicaments containing vitamins exports to Nigeria exceeded the volume sent to the second major destination, Japan (X tons), fourfold. The third position in this ranking was held by Russia (X tons), with a 5.6% share.

From 2012 to 2021, the average annual growth rate of volume to Nigeria totaled +37.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+5.9% per year) and Russia (+59.5% per year).

In value terms, Japan ($X), Nigeria ($X) and Cambodia ($X) appeared to be the largest markets for medicaments containing vitamins exported from Vietnam worldwide, with a combined 58% share of total exports. Myanmar, Saudi Arabia, Malaysia, Russia, the Philippines, Singapore and Oman lagged somewhat behind, together accounting for a further 28%.

Oman, with a CAGR of +39.3%, 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 medicaments containing vitamins export price amounted to $X per ton, picking up by 11% against the previous year. Over the period under review, the export price, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2015 when the average export price increased by 32% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 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 Myanmar ($X per ton), while the average price for exports to Nigeria ($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 Singapore (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.

Medicaments Containing Vitamins Imports

Imports into Vietnam

In 2021, overseas purchases of medicaments containing vitamins and provitamins increased by 37% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, imports posted pronounced growth. The pace of growth was the most pronounced in 2019 with an increase of 110% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, medicaments containing vitamins imports skyrocketed to $X in 2021. In general, total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +3.7% 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 +78.1% against 2018 indices. The pace of growth was the most pronounced in 2015 with an increase of 109% against the previous year. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

South Korea (X tons), Australia (X tons) and Thailand (X tons) were the main suppliers of medicaments containing vitamins imports to Vietnam, together comprising 30% of total imports. Spain, Japan, Germany, Indonesia, Poland, China, India, the United States, France and Italy lagged somewhat behind, together comprising a further 25%.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +38.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Australia ($X) and Indonesia ($X) constituted the largest medicaments containing vitamins suppliers to Vietnam, together accounting for 34% of total imports. Thailand, France, Spain, Japan, Germany, Poland, China, India, Italy and the United States lagged somewhat behind, together comprising a further 34%.

Spain, with a CAGR of +37.3%, recorded the highest rates of growth with regard to the value of imports, among 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, dropping by -13% against the previous year. Overall, the import price, however, posted a modest expansion. The pace of growth appeared the most rapid in 2017 when the average import price increased by 45%. The import price peaked at $X per ton in 2018; however, from 2019 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 Indonesia ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :