The import of Vitamin B2 to Vietnam has shown significant growth over the years, valued at 8.6919 million US dollars in 2023. The period from 2013 to 2023 witnessed fluctuations with a notable increase of 35.27% in 2014 and a peak growth of 65.92% in 2016. However, the trend also includes a decline of 15.35% in 2017 and a minor dip of 5.15% in 2022. The average annual growth rate (CAGR) over the past five years stands at 4.67%. From a future outlook perspective, the forecasted CAGR from 2024 to 2028 is positioned at 2.6%, with an overall growth rate of 13.72% by 2028.
Future trends to watch for include:
- Potential volatility in global supply chains affecting import prices and volumes.
- Changes in consumer demand driven by health trends and dietary shifts.
- Regulatory changes impacting the import and distribution of Vitamin B2.
- Evolution of local production capabilities which may reduce dependency on imports.