The import of Vitamin B2 to China experienced diverse fluctuations from 2013 to 2023. Starting with a significant decline in 2013, the import values demonstrated a general upward trend amidst occasional drops, notably in 2014 and 2018. By 2023, the import value stood at approximately USD 11.8 million, indicating a modest year-on-year growth of 2.46% from 2022. The Compound Annual Growth Rate (CAGR) over the last five years was 3.99%, reflecting moderate growth overall.
Looking forward, the forecast from 2024 to 2028 suggests a continued growth trajectory for the import of Vitamin B2. The anticipated average yearly growth rate is 1.66%, culminating in a forecasted growth rate of 8.56% by 2028.
Future trends to watch for:
- Potential shifts in dietary supplements demand due to evolving health trends in China.
- Changes in global supply chain dynamics influenced by geopolitical and economic factors.
- Technological advancements in alternative sources of Vitamin B2 production which may impact import volumes.
