Latin America and the Caribbean: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in Latin America and the Caribbean

The Latin American medicaments containing vitamins market totaled $X in 2023, leveling off at the previous year. The market 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 being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2023, consumption remained at a lower figure.

Medicaments Containing Vitamins Production in Latin America and the Caribbean

In value terms, medicaments containing vitamins production totaled $X in 2023 estimated in export price. The total production indicated a mild 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, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2018 with an increase of X%. The level of production peaked at $X in 2013; however, from 2014 to 2023, production failed to regain momentum.

Medicaments Containing Vitamins Exports

Exports in Latin America and the Caribbean

In 2023, the amount of medicaments containing vitamins and provitamins exported in Latin America and the Caribbean stood at X tons, picking up by X% on 2022 figures. In general, exports, however, saw a noticeable decrease. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, medicaments containing vitamins exports expanded sharply to $X in 2023. Overall, exports, however, recorded a perceptible curtailment. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, Mexico (X tons), distantly followed by Argentina (X tons), Colombia (X tons), El Salvador (X tons), Guatemala (X tons), Peru (X tons) and Brazil (X tons) were the major exporters of medicaments containing vitamins and provitamins, together creating X% of total exports.

From 2012 to 2023, the biggest increases were recorded for Peru (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Mexico ($X), Colombia ($X) and Argentina ($X) constituted the countries with the highest levels of exports in 2023, with a combined X% share of total exports. Guatemala, El Salvador, Peru and Brazil lagged somewhat behind, together comprising a further X%.

Peru, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of 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

The export price in Latin America and the Caribbean stood at $X per ton in 2023, approximately reflecting the previous year. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the export price increased by X%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2023, the export prices remained at a lower figure.

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

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

Medicaments Containing Vitamins Imports

Imports in Latin America and the Caribbean

In 2023, overseas purchases of medicaments containing vitamins and provitamins decreased by X% to X tons, falling for the seventh consecutive year after five years of growth. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by X%. The volume of import peaked at X tons in 2016; however, from 2017 to 2023, imports stood at a somewhat lower figure.

In value terms, medicaments containing vitamins imports contracted to $X in 2023. Over the period under review, imports continue to indicate a noticeable descent. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Mexico represented the main importing country with an import of around X tons, which resulted at X% of total imports. Colombia (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Ecuador (X%), Guatemala (X%), Nicaragua (X%), Venezuela (X%), Bolivia (X%) and Peru (X%). The following importers - Brazil (X tons), El Salvador (X tons), Honduras (X tons), Trinidad and Tobago (X tons) and Paraguay (X tons) - together made up X% of total imports.

From 2012 to 2023, average annual rates of growth with regard to medicaments containing vitamins imports into Mexico stood at X%. At the same time, Trinidad and Tobago (X%), Bolivia (X%), Guatemala (X%), Peru (X%), El Salvador (X%), Nicaragua (X%) and Paraguay (X%) displayed positive paces of growth. Moreover, Trinidad and Tobago emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. Colombia experienced a relatively flat trend pattern. By contrast, Ecuador (X%), Honduras (X%), Brazil (X%) and Venezuela (X%) illustrated a downward trend over the same period. Mexico (X p.p.), Guatemala (X p.p.), Bolivia (X p.p.), Peru (X p.p.), Nicaragua (X p.p.), El Salvador (X p.p.), Trinidad and Tobago (X p.p.) and Colombia (X p.p.) significantly strengthened its position in terms of the total imports, while Brazil and Venezuela saw its share reduced by 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 largest medicaments containing vitamins importing markets in Latin America and the Caribbean were Ecuador ($X), Brazil ($X) and Mexico ($X), with a combined X% share of total imports. Guatemala, Nicaragua, El Salvador, Colombia, Peru, Honduras, Bolivia, Paraguay, Venezuela and Trinidad and Tobago lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Trinidad and Tobago, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The import price in Latin America and the Caribbean stood at $X per ton in 2023, flattening at the previous year. In general, the import price, however, continues to indicate a mild decrease. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, 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 Brazil ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform