The import of vitamin concentrates and intermixtures of vitamins to Spain has shown an overall increasing trend from 2013 to 2023. In 2023, the value stood at 49.961 million USD. Analyzing the year-on-year variation reveals considerable fluctuations, with notable increases in 2016 (26.93%) and 2018 (30.83%), while some years experienced declines such as 2017 (-6.51%) and 2019 (-3.76%). Over the past two years, there was a slight decrease of 6.73% in 2022 but a regain of 2.48% in 2023. The average annual growth rate (CAGR) for the last five years was 1.34%.
Looking forward, forecasted data from 2024 to 2028 predicts a steady growth with a 5-year CAGR of 1.64%, which is expected to bring the value to 55.885 million USD in 2028, representing a cumulative growth rate of 8.49%. This suggests a continued increase in import values, albeit at a moderate pace.
Future trends to watch for include:
- Fluctuations in global vitamin demand and supply affecting import values.
- Potential regulatory changes in Spain and the EU impacting the import market.
- Advances in healthcare and dietary supplements driving vitamin consumption.
