Price for Vitamins; Vitamin B2 and Its Derivatives, Unmixed in Nigeria - 2023
Contents:
- Price for Vitamins; Vitamin B2 and Its Derivatives, Unmixed in Nigeria (CIF) - 2022
- Price for Vitamins; Vitamin B2 and Its Derivatives, Unmixed in Nigeria (FOB) - 2022
- Imports of Vitamins; Vitamin B2 and Its Derivatives, Unmixed in Nigeria
- Exports of Vitamins; Vitamin B2 and Its Derivatives, Unmixed in Nigeria
Price for Vitamins; Vitamin B2 and Its Derivatives, Unmixed in Nigeria (CIF) - 2022
The average import price for vitamins; vitamin B2 and its derivatives, unmixeds stood at $8,253 per ton in 2022, reducing by -51.5% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 60%. As a result, import price attained the peak level of $26,414 per ton. From 2020 to 2022, the average import prices remained at a lower figure.
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 Germany ($18,526 per ton), while the price for China ($5,824 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+16.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Vitamins; Vitamin B2 and Its Derivatives, Unmixed in Nigeria (FOB) - 2022
The average export price for vitamins; vitamin B2 and its derivatives, unmixeds stood at $68,926 per ton in 2022, approximately equating the previous year. Overall, export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for vitamins; vitamin B2 and its derivatives, unmixeds decreased by +0.2% against 2019 indices. The pace of growth was the most pronounced in 2016 an increase of 27% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the near future.
As there is only one major export destination, the average price level is determined by prices for Ghana.
From 2012 to 2022, the rate of growth in terms of prices for Ghana amounted to +1.3% per year.
Imports of Vitamins; Vitamin B2 and Its Derivatives, Unmixed in Nigeria
In 2022, approx. 157 tons of vitamins; vitamin B2 and its derivatives, unmixeds were imported into Nigeria; rising by 569% against 2021. Overall, imports continue to indicate significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of vitamins; vitamin B2 and its derivatives, unmixeds soared to $1.3M in 2022. In general, imports saw a tangible increase.
| Import of Vitamins; Vitamin B2 and Its Derivatives, Unmixed in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 93.9 | 390 | 41.6 | 694 | 94.8% |
| Germany | 122 | 459 | 106 | 467 | 56.4% |
| India | 11.2 | 88.2 | 27.5 | 57.6 | 72.6% |
| Israel | 6.8 | 38.9 | 11.3 | 25.5 | 55.4% |
| Belgium | 13.7 | 74.3 | 37.6 | 15.8 | 4.9% |
| South Korea | 329 | N/A | N/A | N/A | 0% |
| South Africa | 10.0 | 31.6 | 6.1 | N/A | -21.9% |
| Others | 598 | 1,721 | 169 | 36.2 | -60.7% |
| Total | 1,184 | 2,803 | 400 | 1,296 | 3.1% |
Top Suppliers of Vitamins; Vitamin B2 and Its Derivatives, Unmixed to Nigeria in 2022:
- China (119.1 tons)
- Germany (25.2 tons)
- India (4.8 tons)
- Israel (3.3 tons)
- Belgium (2.5 tons)
Exports of Vitamins; Vitamin B2 and Its Derivatives, Unmixed in Nigeria
For the fourth consecutive year, Nigeria recorded growth in overseas shipments of vitamins; vitamin B2 and its derivatives, unmixeds, which increased by 5.6% to 94 kg in 2022. The total export volume increased at an average annual rate of +6.0% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 6.3%. The exports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, exports of vitamins; vitamin B2 and its derivatives, unmixeds rose significantly to $6.5K in 2022. The total export value increased at an average annual rate of +6.0% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 6%. The exports peaked in 2022 and are likely to see gradual growth in the near future.
| Export of Vitamins; Vitamin B2 and Its Derivatives, Unmixed in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ghana | 5.4 | 5.8 | 6.1 | 6.5 | 6.4% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 5.4 | 5.8 | 6.1 | 6.5 | 6.4% |
Top Export Markets for Vitamins; Vitamin B2 and Its Derivatives, Unmixed from Nigeria in 2022:
- Ghana (94.0 kg)
762
This report provides an in-depth analysis of the vitamin market in Nigeria.
2758
This report provides an in-depth analysis of the global vitamin market.
762
This report provides an in-depth analysis of the vitamin market in Nigeria.
2758
This report provides an in-depth analysis of the global vitamin market.
253
Vitamins play a crucial role in maintaining good health and well-being. They are essential nutrients that our bodies need in small amounts to function properly. With the growing awareness of the importance of vitamins, the global demand for vitamin supplements and fortified foods has been on the rise. As a result, several countries have become major import markets for vitamins, enabling people around the world to access these essential nutrients easily. One platform that provides in-depth insights into the global import market for vitamins is IndexBox Market Intelligence. This platform offers comprehensive data and statistics that allow businesses and individuals to stay informed about the latest trends and developments in the industry. The top import markets for vitamins in 2022 are the United States, Netherlands, Germany, Singapore, and France. These countries not only serve as vital import markets for vitamins but also contribute significantly to the global vitamin industry. The demand for vitamins continues to grow as people become more conscious of their health and seek ways to enhance their well-being. The import markets for vitamins have a significant impact on the global vitamin industry, driving the production and trade of vitamin supplements and fortified foods on a global scale. Platforms like IndexBox Market Intelligence offer invaluable data and insights to businesses and individuals seeking to navigate the complex dynamics of the global import market for vitamins. Staying informed about the latest trends and developments allows industry players to make informed decisions and capitalize on emerging opportunities.
386
Global vitamin trade rose by 16% y/y to $7.7B in 2020, driven by the increased demand for immune-boosting drugs during the COVID-19 pandemic. In physical terms, supplies spiked by 18% y/y to 584K tons.
1457
In 2016, the global vitamin imports stood at X tons, lowering by -X% against the previous year figure. Overall, vitamin imports continue to indicate a relatively flat trend pattern. The growth...
864
In 2016, the global vitamin imports stood at X tons, lowering by -X% against the previous year figure. Overall, vitamin imports continue to indicate a relatively flat trend pattern. The growth...
253
Vitamins play a crucial role in maintaining good health and well-being. They are essential nutrients that our bodies need in small amounts to function properly. With the growing awareness of the importance of vitamins, the global demand for vitamin supplements and fortified foods has been on the rise. As a result, several countries have become major import markets for vitamins, enabling people around the world to access these essential nutrients easily. One platform that provides in-depth insights into the global import market for vitamins is IndexBox Market Intelligence. This platform offers comprehensive data and statistics that allow businesses and individuals to stay informed about the latest trends and developments in the industry. The top import markets for vitamins in 2022 are the United States, Netherlands, Germany, Singapore, and France. These countries not only serve as vital import markets for vitamins but also contribute significantly to the global vitamin industry. The demand for vitamins continues to grow as people become more conscious of their health and seek ways to enhance their well-being. The import markets for vitamins have a significant impact on the global vitamin industry, driving the production and trade of vitamin supplements and fortified foods on a global scale. Platforms like IndexBox Market Intelligence offer invaluable data and insights to businesses and individuals seeking to navigate the complex dynamics of the global import market for vitamins. Staying informed about the latest trends and developments allows industry players to make informed decisions and capitalize on emerging opportunities.
386
Global vitamin trade rose by 16% y/y to $7.7B in 2020, driven by the increased demand for immune-boosting drugs during the COVID-19 pandemic. In physical terms, supplies spiked by 18% y/y to 584K tons.
1457
In 2016, the global vitamin imports stood at X tons, lowering by -X% against the previous year figure. Overall, vitamin imports continue to indicate a relatively flat trend pattern. The growth...
864
In 2016, the global vitamin imports stood at X tons, lowering by -X% against the previous year figure. Overall, vitamin imports continue to indicate a relatively flat trend pattern. The growth...
