In 2023, India imported approximately 500.00 thousand kilograms of Vitamin B3 and B5 along with D- or Dl-Panthothenic Acid. The forecast from 2024 to 2028 indicates a consistent growth in import volumes, starting at 506.83 thousand kilograms in 2024 and reaching 532.11 thousand kilograms by 2028. This demonstrates a steady year-on-year growth of around 1.30% to 1.20%, with an average compound annual growth rate (CAGR) of approximately 1.21% over the period.
Future trends to watch for include:
- Potential shifts in global supply chain and trade policies, which could impact import volumes.
- Technological advancements in domestic production that might reduce dependence on imports.
- Changes in dietary supplement consumption patterns in response to increased health awareness.
- Evolving regulatory standards for vitamins which could affect demand and import volumes.