For the Quarter Ending March 2025
North America
In North America, the Vitamin B12 market recorded a steady decline in prices during the first quarter of 2025. The quarterly average of Cyanocobalamin prices showed a fall of around 3.40% in first quarter of 2025 from previous quarter. This decrease is a result of subdued demand from the downstream pharmaceuticals and nutraceuticals sectors.
Many Vitamin B12 distributors and suppliers in the region kept inventory levels well-managed. Buyers were cautious as procurement remained strategic amid the seasonal transition from winter to spring. The market also saw some price pressure due to tariff adjustments on select imported pharmaceutical ingredients. This factor added to the slower market activity.
The overall Vitamin B12 market tone was quiet with cobalamin distributors closely tracking demand trends. Nutraceutical producers reduced new orders during the early part of the year and focused more on clearing existing stocks. While logistics remained smooth during the first quarter of 2025, the purchasing decisions remained conservative. The combination of these factors contributed to the soft pricing. A slight improvement in downstream enquiries was noticed by March-end, hinting at some recovery as seasonal production cycles of Vitamin B12 approached.
Asia Pacific
The Vitamin B12 market in the Asia Pacific region experienced a moderate price decline during the first quarter of 2025. The quarterly average price dropped by 2.69% between the previous quarter and the first quarter of 2025. The market tone was influenced by the Lunar New Year holiday, which typically slows production activity in China — a major supplier within the APAC region.
This seasonal disruption paired with soft demand from the pharmaceutical and nutraceutical industries resulted in shaping the market in downward direction. Many Vitamin B12 suppliers operated with controlled inventory levels as procurement remained selective. Distributors in countries like India, South Korea and Vietnam maintained a cautious buying approach.
The overall Cyanocobalamin market in Asia Pacific reflected stable logistics conditions, though weaker downstream demand weighed on prices. Seasonal transition also played a part in delaying bulk purchases. By late March, slight improvements in new enquiries suggested that buyers were preparing for the next production cycle. This helped steady prices toward the end of the first quarter of 2025.
Europe
The European Vitamin B12 market followed a similar price trend to other global regions in the first quarter of 2025 and the quarterly average price slipped by 3.69% between previous quarter and the first quarter of 2025. Market sentiment stayed cautious as demand from downstream pharmaceuticals, food and beverage, and nutraceutical sectors remained soft.
Many Vitamin B12 suppliers in the region managed their inventories carefully. Buyers across Germany, France and the Netherlands showed limited procurement activity and preferred to consume existing stock. The overall Vitamin B12 market in Europe mirrored global patterns, as consistent supplies from exporting regions like APAC, added quiet pressure on regional prices.
Seasonal transition also played a role in shaping the procurement pace. Production schedules in the nutraceutical and personal care industries had not yet fully gained momentum, as the transition from colder to milder weather conditions was still underway. The logistics operations ran smoothly and there was no major supply disruptions reported. By March-end, some Cyanocobalamin distributors observed a gradual rise in enquiries which helped ease the declining price pressure marginally.
For the Quarter Ending December 2024
North America
During Q4 2024, Vitamin B12 import prices in North America displayed mixed movement. After rising to $1,827,800 per MT in November, prices subsequently fell to $1,782,000 per MT CFR Los Angeles in December 2024. These price dynamics emerged from several factors. Limited inventory positions and enhanced demand from pharmaceutical and nutraceutical industries initially supported higher prices. Additionally, US importers had built up strategic stocks ahead of China's Golden Week holiday. However, post-holiday supply chain disruptions impacted export flows to US destinations, contributing to the later price decline.
In Q4 2024, port infrastructure constraints at Shanghai and Los Angeles impacted freight rates and lead times, while labor disputes, including the ILA strike, affected East and Gulf Coast operations. Market participants accelerated procurement due to anticipated U.S. tariff changes, maintaining high TEU volumes particularly from Chinese imports. However, December brought a market reversal as domestic suppliers implemented destocking initiatives while Chinese export prices softened, favoring US buyers. This, on one hand, created favorable arbitrage opportunities for U.S. importers, supported by Chinese suppliers' competitive pricing strategies ahead of their holiday season.
The market followed typical seasonal weakness as the year 2024 ended and the quarter concluded. Despite December's price decline, robust end-user demand persisted throughout the quarter, especially in pharmaceutical and nutraceutical applications. The sustained consumption across these sectors provided underlying market support, even as prices adjusted to various supply-side pressures and seasonal factors. This combination created a complex environment where initial supply constraints and logistical challenges drove prices higher before giving way to more favorable conditions.
APAC
In Q4 2024, Vitamin B12 prices in APAC exhibited mixed movement, rising to $1,614,600 per MT in China during November before declining to $1,588,750 per MT FOB Shanghai in December. The quarter began with the Chinese Golden Week holiday in October, temporarily pausing market activities. International buyers had secured supplies through pre-emptive procurement, helping maintain supply chain stability despite the production halt. Early November marked a significant upward trend in China's nutraceutical market, establishing a strong seller's market. This appreciation was driven by robust post-holiday demand, particularly from Western markets, which emerged later than usual this year. The positive market conditions were further supported by declining freight rates, allowing manufacturers to capitalize on the combination of strong procurement activities and improved logistics costs.
December brought a market shift as systematic destocking initiatives were implemented across the supply chain. Manufacturers and suppliers actively adjusted their inventory positions ahead of the holiday season, creating downward price pressure. Despite this price moderation, demand fundamentals remained resilient, with sustained procurement patterns across both domestic and international channels. The price trajectory was primarily influenced by supply-side factors rather than demand constraints, suggesting the adjustments were more reflective of inventory optimization strategies than structural market weakness. This created strategic buying opportunities during the transitional period.
Europe
In Q4 2024, Vitamin B12 import prices in Germany showed mixed movement, rising to $1,762,000 per MT in November before declining to $1,713,500 per MT CFR Hamburg in December. The quarter began with modest price increases in October, driven by surging demand, extended delivery times from Asian suppliers, and persistent port bottlenecks. German industry players had proactively stocked up ahead of China's Golden Week, while steady consumption from pharmaceutical and nutraceutical sectors-maintained market stability.
November saw further price appreciation, primarily due to surging end-user demand and rising prices in China, compelling German buyers to procure at higher costs. The constrained market environment enabled merchants to implement price hikes and maintain stronger profit margins, creating a distinct sellers' market dynamic.
However, December brought a notable price decline as European distributors actively reduced inventory levels while Chinese exporters lowered their prices. This created an attractive buying opportunity, prompting increased purchases from Asian suppliers. Chinese manufacturers offered competitive rates ahead of their holiday period, though market fundamentals remained healthy with steady consumption in both pharmaceutical and nutraceutical sectors. The price moderation reflected strategic inventory management rather than changes in underlying demand patterns.
For the Quarter Ending September 2024
North America
The North American Vitamin B12 market exhibited notable price appreciation during Q3 2024, with the United States emerging as the epicenter of significant price volatility. The quarter witnessed a quantifiable price escalation from $1,735,000/MT to $1,782,500/MT CFR Los Angeles between July and September 2024, representing a quarter-over-quarter growth of 4%. This upward price movement can be attributed to a confluence of market dynamics and macroeconomic factors.
Primary demand-side catalysts included intensified procurement activities in the nutraceutical and pharmaceutical sectors, while supply-side constraints manifested through extended lead times and logistics challenges. The market demonstrated remarkable resilience despite encountering multiple operational headwinds, including port congestion, elevated transportation costs, and persistent supply chain perturbations. These challenges were further compounded by the downstream effects of price volatility in the Chinese market, a crucial global Vitamin B12 exporter, which created ripple effects throughout the U.S. nutraceutical industry.
The consistent price appreciation trajectory, particularly evidenced by the $47,500/MT increment over the quarter, underscores the market's robust fundamentals and sustained growth momentum. This pricing pattern aligns with broader regional market trends, indicating structural stability in the North American Vitamin B12 market despite prevailing logistical and supply chain challenges. The interplay between heightened regional demand, global supply dynamics, and logistical constraints has created a complex but fundamentally strong pricing environment in the North American market.
APAC
The Asia-Pacific Vitamin B12 market demonstrated significant price dynamics during Q3 2024, characterized by a robust upward trajectory. In China, the quarter registered a notable quarter-over-quarter price appreciation of 5%. The Chinese market, serving as a crucial standard for regional pricing trends, exhibited substantial price movement, with export values escalating from $1,500,000/MT to $1,573,750/MT FOB Shanghai between July and September 2024.
This price appreciation was underpinned by multiple market fundamentals and operational variables. On the demand side, sustained procurement activities from nutraceutical and pharmaceutical sectors maintained steady buying pressure. The supply-side economics were influenced by escalating production costs, encompassing raw material expenses and manufacturing overheads. The interplay between enhanced manufacturing output and logistical bottlenecks, particularly port congestion, created supply-demand imbalances that supported the upward pricing environment.
The market demonstrated strong fundamentals through consistent buyer inquiries and sustained order volumes. These demand patterns, coupled with operational challenges such as elevated freight costs and supply chain complexities, enabled both producers and suppliers to maintain favorable profit margins. The Chinese domestic market played a pivotal role in setting regional price benchmarks, with its pricing dynamics influenced by both robust international demand and heightened local consumption patterns. The correlation between increased manufacturing output and logistical constraints, particularly at major ports, created supply bottlenecks that further reinforced the upward price momentum in the APAC region.
Europe
The European Vitamin B12 market exhibited notable price appreciation during Q3 2024, with Germany emerging as the focal point of significant price volatility. The quarter culminated with prices reaching USD 1,702,500/MT CFR Hamburg in September 2024, reflecting the broader regional pricing dynamics. This pricing trajectory can be analyzed through multiple temporal comparisons: a quarter-on-quarter increase of 5%, an intra-quarter appreciation of 2% between the first and second half, and a year-over-year decline of 2%, collectively indicating a shift toward bullish market sentiment.
The price appreciation was driven by a complex interplay of supply-side constraints and demand-side pressures. Supply chain challenges, particularly in Asian manufacturing centers, created availability constraints that exerted upward pressure on prices. This was compounded by robust demand fundamentals, with pharmaceutical and nutraceutical sectors demonstrating sustained procurement activities.
Germany's market dynamics served as a representative indicator for broader European pricing trends, showcasing distinct seasonality patterns and price correlations throughout the quarter. The market demonstrated remarkable resilience despite various operational challenges, with the consistent price appreciation trajectory highlighting the structural stability of the European Vitamin B12 market. The convergence of supply constraints heightened sectoral demand, and regional market dynamics has fostered a positive pricing environment, characterized by sustained growth momentum and market stability across the European region.
For the Quarter Ending June 2024
North America
In Q2 2024, the North American Vitamin B12 market experienced a notable increase in prices, driven primarily by multifaceted factors. This quarter has been marked by a consistent upward trajectory in Vitamin B12 pricing, influenced by heightened demand from the nutraceutical and pharmaceutical sectors, coupled with supply chain disruptions and elevated freight costs. The ongoing geopolitical tensions and logistical challenges, such as port congestions and extended shipping times, have exacerbated these supply constraints, compelling suppliers to adjust their price quotations accordingly. Additionally, the reduced inventory levels held by major suppliers created an environment of scarcity, further intensifying the upward pressure on prices.
Focusing on the USA, the country has seen the most pronounced price fluctuations within North America. The overall trend in the USA has been one of persistent price increases, influenced by strong local demand and a stable stream of new inquiries from end-users. Seasonally, demand remained robust, with no significant dips, reinforcing the correlation between sustained demand and rising prices. Comparing Q2 2024 to the same quarter last year, there has been a -9% change, highlighting a recovery from previous lower price points. However, when compared to the previous quarter in 2024, prices have increased by 3%, showcasing a positive pricing environment. Within the quarter itself, the price change between the first and second half was recorded at 1%, indicating a gradual but steady increase.
Concluding Q2 2024, the price of Vitamin B12 in the USA reached USD 1715000/MT CFR Los Angeles, encapsulating the quarter’s consistent upward sentiment. This pricing environment has been predominantly positive, with suppliers benefiting from strong demand and constrained supply, fostering a market scenario conducive to higher profitability.
APAC
The second quarter of 2024 has witnessed a noticeable upsurge in Vitamin B12 prices within the APAC region, driven primarily by several pivotal factors. This quarter has been characterized by robust demand from end-user industries, consistent manufacturing outputs, and an overall balanced supply-demand dynamic. Noteworthy elements fueling this price escalation include seasonal demand spikes, heightened production costs, and logistical challenges, especially surrounding freight and shipping disruptions. Additionally, preemptive stockpiling by international buyers wary of supply chain uncertainties has further exerted upward pressure on prices.
China, in particular, has experienced the most significant price fluctuations. The overall market trends in China indicate a resilient pricing environment, driven by steady domestic and international demand, seamless manufacturing activities, and strategic inventory management ahead of anticipated plant shutdowns. This quarter's Vitamin B12 price trajectory in China underscores a seasonally enhanced demand correlating with higher production costs and limited supply availability. The Q2 2024 pricing for Vitamin B12 in China exhibits a 4% increase from the preceding quarter, despite a year-over-year decrease of 7%, reflecting adaptive market strategies to mitigate supply chain disruptions.
Throughout Q2 2024, the price comparison between the quarter's two halves shows a 2% increase, demonstrating consistent market strengthening. Conclusively, the quarter culminated with a Vitamin B12 price of USD 1,485,000 per MT FOB Qingdao. In summary, the pricing environment for Vitamin B12 in the APAC region, and particularly in China, has been predominantly positive, driven by strong demand, supply chain resilience, and strategic market maneuvers.
Europe
The Vitamin B12 market in Europe experienced notable price increases throughout Q2 2024. This quarter was marked by several key factors that influenced market prices. A primary driver was the persistent imbalance between supply and demand, exacerbated by limited availability from major producing regions in Asia. Despite ongoing supply chain disruptions, demand from end-user industries such as nutraceuticals, pharmaceuticals, and food and beverage remained robust. This consistent demand, coupled with constrained supply, continually exerted upward pressure on prices. Furthermore, escalating production costs in producing regions, increased freight expenses, and logistical challenges all contributed to the rising cost of Vitamin B12 exports to Europe.
Focusing specifically on Germany, which witnessed the most significant price changes, the overall trend has been one of sustained price appreciation. The German market's strong demand, particularly in the pharmaceutical and nutraceutical sectors, further tightened domestic supply conditions. Seasonality played a role as well, with demand spikes aligning with specific production cycles and consumer behavior patterns. The correlation in price changes reflected the broader European trend but was more pronounced in Germany. Compared to the same quarter last year, prices fell by 5%, but there was a 3% increase from the previous quarter in 2024.
By the end of the quarter, Vitamin B12 prices in Germany reached USD 1,635,000 per metric ton CFR Hamburg, underscoring a positive pricing environment driven by heightened procurement activities and sustained end-user demand. Overall, the pricing sentiment in Q2 2024 for Europe, and particularly Germany, has been distinctly positive, reflecting robust market fundamentals and ongoing supply constraints.
