US Biotin Prices Show Upward Trend in September Amidst Supply Shortage
US Biotin Prices Show Upward Trend in September Amidst Supply Shortage

US Biotin Prices Show Upward Trend in September Amidst Supply Shortage

  • 26-Sep-2023 6:06 PM
  • Journalist: Robert Hume

Biotin prices in the USA market exhibited an increasing trend in September due to limited stock levels among market participants amid consistent demand from end-user sectors. Biotin, also known as Vitamin H or Vitamin B7, is used as a supplement for treating brittle nails, hair loss, hepatitis, and other medical conditions. In recent times, there has been an increase in demand for Biotin from downstream industries, which upsurged the prices.

The United States economy is more likely to undergo a moderate recession rather than a soft landing. This is because many factors, such as persistent inflationary pressure and slower global trade, may appear little on their own but converge. They might have a significant impact on the economy. The US manufacturing sector improved marginally but remained in the contraction zone, resulting in lower output and less supply of Biotin in the USA domestic market. Inventories at factories and their consumers also remained extremely low because of decreased production, increasing Biotin prices.

According to the most recent data issued by the Bureau of Labor Statistics data (BLS) in September, consumer prices in the United States increased as a jump in oil and gasoline costs contributed to increased headline inflation. The rise in healthcare expenditures, impacted by inflation and growing prices of health-related materials, has caused consumers to resort to Biotin supplements to maintain their health and prevent high healthcare costs, contributing to the price increase.

The United States is China's most important trading partner and consumer of Chinese exports. China's slowing economic development is causing concern throughout Asia as the ripple effects of sluggish manufacturing spread to other economies, including the United States. The decline in factory activity and output in China boosted prices in China and also affected the USA Biotin prices. Furthermore, China's trade has recently fallen, negatively impacting the Chinese economy. Export of Chinese products in the USA declined, which also caused a decreased supply of Biotin in the US market, raising prices even higher.

ChemAnalyst predicts that Biotin prices will rise further in the next months due to persistently strong end-sector demand and limited supply in the USA market. Apart from that, there has been anticipation of business closures and a probable halt in the production and shipment of manufactured products due to the annual holidays and festive season in China in October. This might further restrict the availability of Biotin in the USA, increasing costs. In addition, the most recent US inflation statistics have increased predictions that the US Federal Reserve would decide to postpone interest rate increases in the upcoming period despite the highest year-over-year increase in consumer prices. This would support boosting the consumers' confidence and keeping the market north side.

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