Eastern Europe: Vitamin Market 2024

Vitamin Market Size in Eastern Europe

The East European vitamin market stood at $X in 2023, picking up by X% against the previous year. The total consumption indicated moderate growth 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 increased by X% against 2018 indices. The level of consumption peaked in 2023 and is expected to retain growth in the immediate term.

Vitamin Production in Eastern Europe

In value terms, vitamin production declined to $X in 2023 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2018 to 2023, production growth failed to regain momentum.

Vitamin Exports

Exports in Eastern Europe

In 2023, shipments abroad of provitamins and vitamins decreased by X% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2023, the growth of the exports remained at a lower figure.

In value terms, vitamin exports dropped to $X in 2023. Overall, exports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The level of export peaked at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

Poland was the main exporting country with an export of about X tons, which finished at X% of total exports. Slovakia (X tons) ranks second in terms of the total exports with a X% share, followed by the Czech Republic (X%) and Russia (X%). The following exporters - Hungary (X tons), Bulgaria (X tons) and Lithuania (X tons) - each resulted at a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to vitamin exports from Poland stood at X%. At the same time, Slovakia (X%), Bulgaria (X%), the Czech Republic (X%) and Hungary (X%) displayed positive paces of growth. Moreover, Slovakia emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of X% from 2012-2023. By contrast, Lithuania (X%) and Russia (X%) illustrated a downward trend over the same period. While the share of Poland (X p.p.), Slovakia (X p.p.), the Czech Republic (X p.p.), Bulgaria (X p.p.) and Hungary (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Lithuania (X p.p.) and Russia (X p.p.) displayed negative dynamics.

In value terms, Poland ($X), the Czech Republic ($X) and Slovakia ($X) constituted the countries with the highest levels of exports in 2023, with a combined X% share of total exports.

Slovakia, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Eastern Europe amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price saw a prominent expansion. The pace of growth appeared the most rapid in 2018 an increase of X%. The level of export peaked in 2023 and is likely to see gradual growth in the near future.

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 the Czech Republic ($X per ton), while Bulgaria ($X per ton) was amongst the lowest.

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

Vitamin Imports

Imports in Eastern Europe

In 2023, purchases abroad of provitamins and vitamins was finally on the rise to reach X tons for the first time since 2020, thus ending a two-year declining trend. Total imports indicated a perceptible increase 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 pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2023, the growth of imports remained at a lower figure.

In value terms, vitamin imports shrank to $X in 2023. In general, imports showed resilient growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The level of import peaked at $X in 2021; however, from 2022 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Poland (X tons), Russia (X tons) and Romania (X tons) represented the main importer of provitamins and vitamins in Eastern Europe, making up X% of total import. Hungary (X tons) ranks next in terms of the total imports with an X% share, followed by the Czech Republic (X%). The following importers - Slovakia (X tons), Ukraine (X tons) and Bulgaria (X tons) - together made up X% of total imports.

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

In value terms, Poland ($X), Russia ($X) and the Czech Republic ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Hungary, Romania, Ukraine, Slovakia and Bulgaria lagged somewhat behind, together accounting for a further X%.

Slovakia, with a CAGR of X%, recorded the highest rates of growth with regard to 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 Eastern Europe stood at $X per ton in 2023, falling by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X%. 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.

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 the Czech Republic ($X per ton), while Romania ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform