EU: Vitamin Market 2024

Vitamin Market Size in the EU

The EU vitamin market reduced to $X in 2023, waning by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2022, and then declined in the following year.

Vitamin Production in the EU

In value terms, vitamin production declined modestly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of X%. The level of production peaked at $X in 2022, and then contracted slightly in the following year.

Vitamin Exports

Exports in the EU

Vitamin exports contracted significantly to X tons in 2023, dropping by X% compared with 2022 figures. Overall, exports, however, showed temperate growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The volume of export peaked at X tons in 2022, and then shrank dramatically in the following year.

In value terms, vitamin exports reduced notably to $X in 2023. In general, exports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2022, and then contracted sharply in the following year.

Exports by Country

The Netherlands represented the major exporter of provitamins and vitamins in the European Union, with the volume of exports recording X tons, which was approx. X% of total exports in 2023. Germany (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by France (X%), Belgium (X%), Spain (X%) and Italy (X%). Poland (X tons) took a relatively small share of total exports.

The Netherlands was also the fastest-growing in terms of the provitamins and vitamins exports, with a CAGR of X% from 2012 to 2023. At the same time, Italy (X%), Spain (X%) and Poland (X%) displayed positive paces of growth. France experienced a relatively flat trend pattern. By contrast, Germany (X%) and Belgium (X%) illustrated a downward trend over the same period. The Netherlands (X p.p.), Spain (X p.p.) and Italy (X p.p.) significantly strengthened its position in terms of the total exports, while France, Belgium and Germany saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest vitamin supplier in the European Union, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports. It was followed by France, with a X% share.

In the Netherlands, vitamin exports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Germany (X% per year) and France (X% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2023, waning by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2018 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was France ($X per ton), while Belgium ($X per ton) was amongst the lowest.

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

Vitamin Imports

Imports in the EU

In 2023, overseas purchases of provitamins and vitamins decreased by X% to X tons for the first time since 2018, thus ending a four-year rising trend. Total imports indicated measured 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. The growth pace was the most rapid in 2020 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2022, and then shrank in the following year.

In value terms, vitamin imports shrank notably to $X in 2023. Total imports indicated a measured increase 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. The pace of growth was the most pronounced in 2020 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2022, and then dropped remarkably in the following year.

Imports by Country

The Netherlands (X tons) and Germany (X tons) represented roughly X% of total imports in 2023. Belgium (X tons) ranks next in terms of the total imports with a X% share, followed by France (X%), Spain (X%), Italy (X%) and Poland (X%).

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

In value terms, the Netherlands ($X), Germany ($X) and France ($X) were the countries with the highest levels of imports in 2023, together comprising X% of total imports.

The Netherlands, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the European Union stood at $X per ton in 2023, falling by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2023, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($X per ton), while Belgium ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform