China: Vitamin Market 2024

Vitamin Market Size in China

The Chinese vitamin market expanded markedly to $X in 2022, with an increase of X% against the previous year. Over the period under review, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2018 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Vitamin Production in China

In value terms, vitamin production rose modestly to $X in 2022 estimated in export price. In general, the total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

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Vitamin Exports

Exports from China

In 2022, shipments abroad of provitamins and vitamins decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, total exports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when exports increased by X%. The exports peaked at X tons in 2021, and then shrank slightly in the following year.

In value terms, vitamin exports reduced to $X in 2022. In general, exports, however, saw a buoyant expansion. 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 reached the peak figure at $X in 2021, and then shrank in the following year.

Exports by Country

The United States (X tons), Germany (X tons) and the Netherlands (X tons) were the main destinations of vitamin exports from China, together comprising X% of total exports. Japan, Brazil, India, Indonesia, South Korea, Vietnam, Belgium, Thailand, Singapore and Mexico lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for provitamins and vitamins exports from China, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with an X% share of total exports. It was followed by the Netherlands, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and the Netherlands (X% per year).

Export Prices by Country

In 2022, the average vitamin export price amounted to $X per ton, declining by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced mixed trend patterns.

Vitamin Imports

Imports into China

For the sixth year in a row, China recorded decline in supplies from abroad of provitamins and vitamins, which decreased by X% to X tons in 2022. Overall, imports showed a deep slump. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, vitamin imports fell significantly to $X in 2022. In general, imports continue to indicate a pronounced contraction. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

Switzerland (X tons), Germany (X tons) and India (X tons) were the main suppliers of vitamin imports to China, together accounting for X% of total imports. The United States, the UK, Denmark and South Korea lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Switzerland ($X), Germany ($X) and the United States ($X) appeared to be the largest vitamin suppliers to China, together comprising X% of total imports. The UK, Denmark, India and South Korea lagged somewhat behind, together comprising a further X%.

The UK, with a CAGR of X%, 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

In 2022, the average vitamin import price amounted to $X per ton, falling by X% against the previous year. Overall, the import price, however, posted resilient growth. The most prominent rate of growth was recorded in 2018 an increase of X%. The import price peaked at $X per ton in 2021, and then contracted modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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