Only Pros- No Cons: Vitamin D Prices on the Steady Rise Across the Globe
- 15-Feb-2023 5:22 PM
- Journalist: Jung Hoon
After an extended period of economic turmoil, the nutraceutical markets have displayed a newfound optimism about China and the rest of the world. In response to pressure from the public, China has abandoned its zero-Covid policy and lifted its strict lockdowns and enclaves. China's economy and market indicators would undoubtedly benefit in the long run from the reopening, but following a challenging fourth quarter of 2022 and an anticipated increase in Covid cases, China's immediate economic prospects look pretty bleak.
The ballooning demand for Vitamin D and the opening of new markets has helped China, the world's largest producer, increase its manufacturing. The Chinese pharmaceutical and nutraceutical industries technically resumed on a strong note following the Lunar New Year holiday from January 22 to January 27, with a surge in Vitamin D orders and shipments from the regional and global markets. The stimulus monetary policy and a sense of renewed optimism have been the key drivers of the New Year's booms in China's manufacturing orders for nutraceutical products, including Vitamin D. After the market reopened, plant and port activities also began. As a result of the increased production, Vitamin D prices in China and international markets increased. Given the recent increase in Chinese expenditure, the Chinese economy is more than capable of delivering long-term financial security uncommon in other economies.
American pharmaceutical giants produce the majority of pharmaceuticals, but at least half of the Active Pharmaceutical Ingredients (APIs) and nutraceuticals come from China alone, including Vitamin D. This figure actually underestimates the dependence due to the lack of accurate statistics. Vitamins and other APIs that seem to have a different origin could actually be Chinese in nature. Since the start of the pandemic, this dependence has not decreased whatsoever. Even though Germany and the US also produce Vitamin D, China still has a significant influence on their markets. Therefore, the wax and wane prices of Vitamin D are simultaneously having an effect on global markets.
The figures from ChemAnalyst predict that Vitamin D costs will continue to rise up until the very end of the first quarter of 2023. The growth in end-use demand and more global market inquiries will both favorably influence this price trend of Vitamin D.