The vitamins in dosage market in the Philippines showed significant fluctuations from 2012 to 2022. The market experienced a noteworthy growth trend with a sharp rise in value from $179.29 million in 2012 to a peak of $391.11 million in 2021, illustrating the high demand for vitamin products over the decade. However, a slight decline was observed in 2022, resulting in a market value of $368.0 million.
Year-on-year percentage changes reflect this volatile nature, with notable peaks such as 21.82% in 2017 and consistent growth from 2019 to 2021 before a reduction of 5.91% in 2022. The compound annual growth rate (CAGR) reached 12.08% for the period between 2016 and 2021, though it dropped to 6.43% over the last five years ending 2022, signifying varied growth dynamics over different periods.
Future trends to watch for include potential recovery and growth driven by increased health consciousness post-pandemic, rising disposable incomes, and expanding e-commerce and pharmaceutical distribution channels. However, market participants should remain wary of potential economic and regulatory changes that could influence demand and overall market performance.
| # | 32 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 3,531,500,000 | 2023 | +1.22% | +0.58% | View data |
| 2 | 2 France | 535,770,000 | 2023 | -4.06% | -3.67% | View data |
| 3 | 3 United Kingdom | 535,240,000 | 2023 | -4.21% | -1.19% | View data |
| 4 | 4 Canada | 525,940,000 | 2023 | +1.12% | +1.88% | View data |
| 5 | 5 Germany | 505,570,000 | 2023 | -2.06% | -2.83% | View data |
| 6 | 6 Philippines | 403,310,000 | 2023 | +4.55% | +6.95% | |
| 7 | 7 Italy | 266,760,000 | 2023 | -3.96% | -2.6% | View data |
| 8 | 8 Mexico | 255,060,000 | 2023 | -2.71% | -2.3% | View data |