Between 2013 and 2023, Brazil's imports of Vitamin B12 fluctuated but exhibited a general upward trend, starting at 4.6652 million USD in 2013 and reaching 7.6818 million USD in 2023. Major fluctuations include a sharp increase in 2017 (48.26% YoY) and a significant rise in 2020 (8.73% YoY). Year-on-year variations over the last two years showed a slight decline in 2022 (-1.73%) followed by modest growth in 2023 (3.03%). The Compound Annual Growth Rate (CAGR) for the last five years settled at 2.26%.
Looking ahead, the import value is forecasted to reach 8.7592 million USD by 2028, with an anticipated average annual growth rate (CAGR) of 2% over the next five years, culminating in an overall growth rate of 10.41% from 2023 to 2028.
Future trends to watch for include global supply chain stability, potential changes in Brazil's domestic production capacity, and the impact of international trade policies on import costs and availability. Additionally, shifts in healthcare and dietary supplement demand could influence import volumes.
