Africa: Vitamin Market 2024

Vitamin Market Size in Africa

In 2023, the African vitamin market decreased by X% to $X, falling for the third consecutive year after two years of growth. The total consumption indicated a tangible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2023, the growth of the market remained at a somewhat lower figure.

Vitamin Production in Africa

In value terms, vitamin production fell to $X in 2023 estimated in export price. The total production indicated a strong increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2020 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2023, production growth remained at a somewhat lower figure.

Vitamin Exports

Exports in Africa

In 2023, after four years of growth, there was significant decline in overseas shipments of provitamins and vitamins, when their volume decreased by X% to X tons. Overall, exports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2017 with an increase of X%. The volume of export peaked at X tons in 2022, and then declined in the following year.

In value terms, vitamin exports expanded rapidly to $X in 2023. Total exports indicated a tangible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2023 and are likely to see gradual growth in the immediate term.

Exports by Country

South Africa dominates exports structure, recording X tons, which was approx. X% of total exports in 2023. The following exporters - Zambia (X tons) and Swaziland (X tons) - together made up X% of total exports.

Exports from South Africa increased at an average annual rate of X% from 2012 to 2023. At the same time, Zambia (X%) and Swaziland (X%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2023. South Africa (X p.p.) and Zambia (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest vitamin supplier in Africa, comprising X% of total exports. The second position in the ranking was held by Zambia ($X), with a X% share of total exports.

In South Africa, vitamin exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Zambia (X% per year) and Swaziland (X% per year).

Export Prices by Country

The export price in Africa stood at $X per ton in 2023, growing by X% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2016 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Zambia ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Swaziland (X%), while the other leaders experienced a decline in the export price figures.

Vitamin Imports

Imports in Africa

In 2023, purchases abroad of provitamins and vitamins decreased by X% to X tons, falling for the third consecutive year after four years of growth. Total imports indicated perceptible growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2019 with an increase of X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, vitamin imports dropped sharply to $X in 2023. Total imports indicated a slight expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, South Africa (X tons), distantly followed by Algeria (X tons), Nigeria (X tons), Egypt (X tons), Namibia (X tons), Morocco (X tons) and Tunisia (X tons) were the largest importers of provitamins and vitamins, together committing X% of total imports. The following importers - Angola (X tons), Senegal (X tons), Ghana (X tons), Tanzania (X tons) and Kenya (X tons) - together made up X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Namibia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vitamin importing markets in Africa were South Africa ($X), Egypt ($X) and Algeria ($X), with a combined X% share of total imports. Morocco, Nigeria, Tunisia, Namibia, Kenya, Angola, Tanzania, Ghana and Senegal lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Angola, with a CAGR of X%, 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 2023, the import price in Africa amounted to $X per ton, falling by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2023, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Egypt ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform