The import of Vitamin B12 to India in 2023 stood at a value of 70 million USD. The forecasted values indicate a steady increase: 2024 - 73.296 million USD, 2025 - 76.372 million USD, 2026 - 79.387 million USD, 2027 - 82.342 million USD, and 2028 - 85.237 million USD.
Year-on-year variations show incremental growth:
- 2025: 4.19%
- 2026: 3.95%
- 2027: 3.72%
- 2028: 3.52%
The Compound Annual Growth Rate (CAGR) over the five years from 2024 to 2028 is approximately 3.98%, reflecting a consistent upward trend in the import value of Vitamin B12.
Future trends to watch for include developments in India's dietary supplement market, advancements in domestic Vitamin B12 production capabilities, and potential policy changes affecting import tariffs and trade regulations.
