For the Quarter Ending December 2025
Vitamin A Prices in North America
- In United States, the Vitamin A Price Index rose quarter-over-quarter in Q4 2025, influenced by rising production costs.
- Vitamin A production costs increased in Q4 2025, driven by a 2.7% CPI year-over-year in December 2025.
- US natural gas spot prices strengthened in late 2025, impacting Vitamin A manufacturing expenses.
- Overall chemical industry demand was uneven in Q4 2025, creating a mixed Vitamin A demand outlook.
- Industrial production increased 2.0% year-over-year in December 2025, supporting Vitamin A demand.
- Retail sales rose 3.3% year-over-year in November 2025, boosting Vitamin A demand for consumer products.
- Chemical supply tightened in Q4 2025 due to permanent asset shutdowns, affecting Vitamin A availability.
- The Vitamin A Price Index is forecast to remain firm, reflecting sustained cost pressures and moderate demand.
Why did the price of Vitamin A change in December 2025 in North America?
- Vitamin A production costs rose due to a 3.0% year-over-year PPI increase in November 2025.
- Stronger US natural gas spot prices in late November and early December 2025 raised operational expenses.
- Chemical supply tightened in Q4 2025 from permanent asset shutdowns, impacting Vitamin A availability.
Vitamin A Prices in APAC
- In China, the Vitamin A Price Index fell quarter-over-quarter in Q4 2025, driven by weak domestic demand and easing production costs.
- Consumer Price Index rose by 0.8% year-over-year in December 2025, reflecting subdued consumer demand.
- Producer Price Index declined by 1.9% year-over-year in December 2025, indicating lower Vitamin A input costs.
- The Manufacturing Index expanded in December 2025, signaling growth in industrial activity.
- Industrial production increased by 5.2% year-over-year in December 2025, supporting demand from key consuming sectors.
- Coal prices, a significant energy feedstock, weakened into Q4 2025, contributing to lower Vitamin A production costs.
- China's chemical industry experienced persistent overcapacity throughout 2025, leading to overall market oversupply.
- Weak domestic demand in China during Q4 2025 impacted consumption of Vitamin A in consumer-facing applications.
Why did the price of Vitamin A change in December 2025 in APAC?
- Weak domestic demand in China during Q4 2025, with retail sales growing 0.9% year-over-year in December.
- Producer Price Index declined by 1.9% year-over-year in December 2025, reducing Vitamin A production cost pressures.
- Persistent overcapacity and expanding production in China's chemical industry throughout 2025 created market oversupply.
Vitamin A Prices in Europe
- In Germany, the Vitamin A Price Index fell quarter-over-quarter in Q4 2025, influenced by contracting manufacturing and weak consumer sentiment.
- Naphtha feedstock costs experienced a gradual upward trend in Northwest Europe during Q4 2025, impacting Vitamin A production costs.
- The Producer Price Index declined by 2.5% year-over-year in December 2025, indicating decreasing broader input costs for producers.
- Vitamin A demand was bearish due to a 'Contracting' Manufacturing Index and -17.5 consumer confidence in December 2025.
- Industrial production in Germany increased by 0.8% year-over-year in October 2025, offering modest support to industrial demand.
- Retail sales grew by 1.1% year-over-year in November 2025, providing slight support for consumer-facing Vitamin A applications.
- European chemical producers actively drew down inventories in 2025, adjusting operating rates in Q4 2025 to manage supply.
- The Vitamin A price forecast suggests continued stability or slight downward pressure, given persistent demand challenges in Q4 2025.
Why did the price of Vitamin A change in December 2025 in Europe?
- Weak demand resulted from 'Contracting' Manufacturing Index and -17.5 consumer confidence in December 2025.
- Naphtha feedstock costs rose in Q4 2025; Producer Price Index declined by 2.5% in December 2025.
- European producers drew down inventories, adjusting operating rates in Q4 2025, influencing supply.
For the Quarter Ending September 2025
North America
• In United States, the Vitamin A Price Index rose quarter-over-quarter in Q3 2025, driven by accelerating production costs.
• Vitamin A production costs accelerated in Q3 2025, influenced by a 2.6% PPI increase in August 2025.
• Overall chemical demand weakened in Q3 2025, despite a 5.42% retail sales increase in September 2025.
• Chemical industry inventories contracted in Q3 2025 due to accelerating destocking, impacting supply dynamics.
• Foreign orders for chemicals declined in Q3 2025, affecting Vitamin A trade flows.
• Henry Hub natural gas spot prices began to rise in September 2025, increasing energy feedstock costs.
• Pharmaceutical new drug approvals increased notably in Q3 2025, bolstering Vitamin A demand.
• Industrial production increased only 0.1% year-over-year in September 2025, indicating slow manufacturing growth.
• A 4.3% unemployment rate in September 2025 supported consumer purchasing power for Vitamin A products.
• Consumer confidence declined to 94.2 in September 2025, suggesting caution in discretionary spending.
Why did the price of Vitamin A change in September 2025 in North America?
• CPI increased 3.0% year-over-year in September 2025, raising raw material and energy costs.
• Industrial production increased only 0.1% year-over-year in September 2025, indicating weak industrial demand.
• Retail sales increased 5.42% year-over-year in September 2025, supporting consumer-facing Vitamin A demand.
APAC
• In China, the Vitamin A Price Index fell quarter-over-quarter in Q3 2025, influenced by weak consumer and producer prices.
• Vitamin A production costs remained stable in Q3 2025, despite elevated Asian LNG spot prices impacting energy inputs.
• Animal feed demand for Vitamin A strengthened in Q3 2025, driven by expanding livestock and poultry sectors.
• China's industrial production grew 6.5% year-on-year in September 2025, indicating increased manufacturing activity.
• Retail sales increased 3.0% year-on-year in September 2025, boosting demand for Vitamin A in consumer goods.
• The Manufacturing Index was contracting in September 2025, signaling reduced industrial output and lower Vitamin A demand.
• Structural oversupply and ample chemical inventories continued in Q3 2025, exerting downward pressure on Vitamin A prices.
• Consumer confidence remained pessimistic at 89.6 in September 2025, dampening discretionary Vitamin A demand.
Why did the price of Vitamin A change in September 2025 in APAC?
• Consumer confidence at 89.6 in September 2025 reduced discretionary spending for Vitamin A products.
• Contracting Manufacturing Index in September 2025 indicated lower industrial output, reducing Vitamin A demand.
• Structural oversupply and ample inventories in Q3 2025 pressured Vitamin A prices downwards.
Europe
• In Germany, the Vitamin A Price Index fell quarter-over-quarter in Q3 2025, influenced by reduced producer prices and contracting manufacturing.
• Vitamin A production costs faced mixed pressures; producer prices declined 1.7% in September 2025, yet raw material costs remained elevated.
• Overall Vitamin A demand weakened in Q3 2025, as industrial production decreased 1.0% in September 2025.
• Demand for Vitamin A in pharmaceuticals firmed in Q3 2025, and animal cattle feed demand showed moderate increases.
• Consumer demand for health-focused products strengthened in 2025, supported by stable unemployment at 6.3% in September 2025.
• German chemical industry order backlogs reached historically low levels in July 2025, indicating subdued capacity utilization.
• Elevated natural gas costs and projected electricity price increases challenged German chemical producers in Q3 2025.
• General inflation, indicated by a 2.4% CPI in September 2025, contributed to cost-push pressures on Vitamin A production.
Why did the price of Vitamin A change in September 2025 in Europe?
• Producer prices declined by 1.7% in September 2025, reducing Vitamin A manufacturing costs.
• Industrial production decreased by 1.0% in September 2025, weakening overall Vitamin A demand.
• Elevated raw material and energy costs, despite lower PPI, created upward pressure on Vitamin A production.
