Vitamin B1 Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Vitamin B1 in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Vitamin B1 Price Trend for the October - December of 2023

Asia

According to the state of downstream food and beverages industries, China's manufacturing sector incurred consecutive declines in the last quarter of 2023. The factories were struggling with decreased demand, which further posed difficulties for the country's economic recovery.

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The regional vitamin B1 companies registered notable individual obstacles, such as a decline in orders from overseas and insufficient support from the home market. Prices further declined as a result of domestic manufacturers and suppliers having more vitamin B1 in stock than there is demand for.

Europe

A marginal fall in the prices of vitamin B1 in Europe, especially Germany, was based on the shrinkage of the economy in the last quarter of 2023. After achieving a steady state, the German demand for vitamin B1 registered an unexpected fall, highlighting worries about an impending recession.

At the conclusion of the quarter, the companies reported a significant rise in manufacturing costs, primarily due to higher average costs, signaling a spike in inflationary pressures. This cost increase caused vitamin B1 prices to decline.

North America

The scenario of the US vitamin B1 prices was no different from the rest of the world. The vitamin B1 market momentum fell short in front of an excessive rise in the cost of raw materials and fluctuating consumer sentiments. The region also incurred a loss of trade on account of drought-like conditions in the Panama Canal and port congestion on the rest of the freight routes. Additionally, the traders lowered their quoted prices of vitamin B1 in view of rising stockpiles, which proved fatal for the vitamin B1 price trend.

Analyst Insight

According to Procurement Resource, the price trend of Vitamin B1 are estimated to be based on the market trajectory of downstream food and feed industries and the dynamics of global export and import.

Vitamin B1 Price Trend for the July-September of 2023

Asia

The depreciation of the Chinese economy and the rise in unemployment had an adverse effect on the vitamin B1 price trend. During the third quarter, the overseas industries also presented weak rates of procurement and drove the vitamin B1 price trend in the southward direction. Additionally, the domestic nutraceutical and pharmaceuticals sectors also faced the ill effects of poor economic conditions resulted in the downfall of the vitamin B1 price trend.

Europe

The European countries failed to maintain the required momentum of vitamin B1 price trend as the suppliers had to lower their price quotations in view of the muted demand from European as well as overseas industries.

The global slowdown in the pharmaceutical sector and struggling regional market also exerted its negative influence and kept the vitamin B1 price trend in the negative zone. Further, the weak condition of the economy and monetary measures taken by the banking units restricted the spending budget of the consumers.

North America

The excessive supply of vitamin B1 in North America and feeble rates of procurement from the downstream industries created a disbalance in the supply-demand equilibria. The third quarter failed to meet the expectations and conditions required to balance these sectors, and as a result, vitamin B1 moved downwards. The region also recorded striking rates of inflation, putting excessive pressure on the trading sector and negatively affecting the vitamin B1 price trend.

Analyst Insight

According to Procurement Resource, the price trend of  Vitamin B1 are estimated to follow a southwards trajectory as the negative demand and economic challenges will hamper the growth of vitamin B1 markets.

Vitamin B1 Price Trend for the First Half of 2023

Asia

Vitamin B1, also known as Thiamine, is an essential vitamin that is important for glucose regulation in the human body. It is a commonly used dietary supplement in the pharmaceutical and nutraceutical industries. The Asian market experienced a mixed price pattern for Vitamin B1 in the first two quarters of 2023. Quarter one started to slow in the Chinese market since the manufacturing industries were struggling to stand up again in the post-lockdown times.

The foreign purchases had also declined significantly, posing more hurdles in the way. However, the second quarter experienced some relief as the prices started moving up again. The inflationary pressure was released a little, and the inventories were running out of products to support the market demands. So, with a rise in domestic as well as global demands, the Vitamin B1 price trend inclined in the second quarter.

Europe

The European Vitamin B1 market started with heavy fluctuations in the first quarter. With the disturbed trade fundamentals, the market was struggling to keep its momentum, even though the end consumer demands for Vitamin B1 were regular and steady. But as the second quarter arrived, the price curve almost plateaued since the supplies had also become somewhat regular. The second quarter was better than the first for Vitamin B1 market trend.

North America

Replicating the global market trend, the Vitamin B1 prices wavered in the first quarter and stood up in the second quarter of H1’23. The market was driven by the downstream demands from the pharma and healthcare sectors primarily.

Analyst Insight

According to Procurement Resource, with the given rise in production activities, the inventories are likely to rise for Vitamin B1, and thus, the price trend are likely to maintain their positive outlook.

Procurement Resource provides latest prices of Vitamin B1. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.