Spain: Vitamin Market 2024

Vitamin Market Size in Spain

In 2023, the Spanish vitamin market decreased by X% to $X for the first time since 2019, thus ending a three-year rising trend. Over the period under review, the total consumption 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. Over the period under review, the market reached the peak level at $X in 2022, and then contracted in the following year.

Vitamin Production in Spain

In value terms, vitamin production declined sharply to $X in 2023 estimated in export price. Over the period under review, the total production 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, production increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, production reached the peak level of $X, and then contracted dramatically in the following year.

Vitamin Exports

Exports from Spain

In 2023, exports of provitamins and vitamins from Spain rose sharply to X tons, with an increase of X% on the previous year's figure. Over the period under review, total exports indicated a resilient expansion from 2012 to 2023: its volume 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. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2023 and are likely to see gradual growth in the immediate term.

In value terms, vitamin exports reached $X in 2023. In general, total exports indicated a remarkable 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 2015 indices. The growth pace was the most rapid in 2018 when exports increased by X%. The exports peaked in 2023 and are likely to continue growth in the immediate term.

Exports by Country

Portugal (X tons) was the main destination for vitamin exports from Spain, with a X% share of total exports. Moreover, vitamin exports to Portugal exceeded the volume sent to the second major destination, Italy (X tons), threefold. The third position in this ranking was taken by Panama (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Portugal totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Panama (X% per year).

In value terms, Germany ($X), Portugal ($X) and Italy ($X) appeared to be the largest markets for vitamin exported from Spain worldwide, together comprising X% of total exports. France, the Netherlands, Poland, Turkey, the UK, Egypt, Morocco, Romania, Panama and Algeria lagged somewhat behind, together comprising a further X%.

Poland, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of 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

The average vitamin export price stood at $X per ton in 2023, therefore, remained relatively stable against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2023, the export prices stood at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Panama (X%), while the prices for the other major destinations experienced more modest paces of growth.

Vitamin Imports

Imports into Spain

In 2023, supplies from abroad of provitamins and vitamins increased by X% to X tons, rising for the fifth consecutive year after two years of decline. In general, total imports indicated a buoyant increase from 2012 to 2023: its volume 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, imports increased by X% against 2018 indices. The pace of growth was the most pronounced in 2016 when imports increased by X%. Over the period under review, imports hit record highs in 2023 and are likely to see gradual growth in years to come.

In value terms, vitamin imports contracted to $X in 2023. Overall, total imports indicated a prominent 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 most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2022, and then contracted in the following year.

Imports by Country

The Netherlands (X tons), China (X tons) and Germany (X tons) were the main suppliers of vitamin imports to Spain, together comprising X% of total imports. Belgium, India, France, Portugal, Poland, Italy and the UK lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), China ($X) and Germany ($X) were the largest vitamin suppliers to Spain, together accounting for X% of total imports. Belgium, France, India, Italy, Portugal, Poland and the UK lagged somewhat behind, together accounting for a further X%.

Poland, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of 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 2023, the average vitamin import price amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the import price continues to indicate a slight decline. The growth pace was the most rapid in 2018 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2023, the average import prices remained at a somewhat lower figure.

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

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

Source: IndexBox Platform