The import of Vitamin B1 to India stood at 698.82 thousand kilograms in 2023. Over the past decade, there has been a fluctuating but largely upward trend in the import volume. From a low point in 2013, imports increased significantly until 2021, followed by slight volatility. The year-on-year variations have ranged between -13.4% and +28.48%, highlighting periods of both strong growth and minor declines. The last two years saw a decline of -5.52% in 2022 followed by a recovery of +3.7% in 2023. The Compound Annual Growth Rate (CAGR) for the last five years is 3.08%.
Looking forward, the forecast for 2028 anticipates a relatively steady increase in imports, with an average annual growth rate of 2.39% and a cumulative growth of 12.53% from 2024 to 2028. Future trends to watch for include potential impacts of global supply chain disruptions, shifts in domestic production capacities, and changes in regulatory policies that could affect import volumes.
