The import of Vitamin B2 to Belgium has shown an increasing trend from 2013 to 2023, with the value standing at $20.121 million in 2023. Over the last two years, the year-on-year variation indicates a fluctuation with a slight decline in 2022 by -4.66%, followed by a growth of 4.55% in 2023. The Compound Annual Growth Rate (CAGR) over the past five years stands at 2.31%.
For the forecasted period from 2024 to 2028, the import value is expected to rise gradually. The average annual growth rate (CAGR) forecasted for the next five years is 2.88%, leading to a total growth of 15.23% by 2028.
Future trends to watch for include market changes driven by demand in the pharmaceutical and health supplement sectors, regulatory changes in the European Union regarding vitamin imports, and potential disruptions due to global supply chain dynamics.
