The import value of provitamins and vitamins to Mexico has seen significant fluctuations over the past decade. From 2013 to 2023, the market experienced ups and downs. Notable increases occurred in 2018 (+61.06%) and 2020 (+9.27%), while there were slight downturns in 2016 (-3.96%) and 2022 (-1.32%). As of 2023, the import value stood at 237.52 million USD.
Key points:
- In 2023, the year-on-year growth was 3.42%.
- The Compound Annual Growth Rate (CAGR) over the last 5 years was 1.42%, indicating moderate growth.
- Forecast for 2028 suggests a CAGR of 2.24%, with an estimated growth rate of 11.7% over the next 5 years.
Future trends to watch for include potential impacts from global supply chain disruptions, regulatory changes, and increased health and wellness awareness among consumers, which could further drive the demand for vitamins imports to Mexico.
