Vitamin B2 Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Vitamin B2 in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Vitamin B2 Price Trend for the October - December of 2023

Asia

Due to the feeble demand from downstream sectors in both domestic and international markets, vitamin B2 prices in Asia remained flat during the fourth quarter of 2023. The deteriorating consumer trust in the vitamin B2 market also aided the falling trajectory throughout the fourth quarter. The lowering of the US dollar and loss of exports over trade challenges due to rising tensions during the quarter also contributed to the depletion in vitamin B2 price trend.

Vitamin B2 Price Chart

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Europe

The initial obstacles to vitamin B2 price trend in Europe came from a sluggish industrial market and the nutraceuticals industry's lack of interest. At the beginning of the quarter, traders reduced their quotes due to the dire state of the European economy.

However, the supply chain disruptions lowered the availability of raw materials in the region and gave room for the traders to increase their price quotations. But this relief was limited, and soon, the mismatch between supply and demand brought about by steady demand from downstream sectors brought vitamin B2 prices to stagnancy.

North America

The situation of vitamin B2 prices in North America was identical to that of the global market. The market momentum for vitamin B2 was weakened by the sharp increase in raw material costs and oscillations in the confidence of consumers. Due to port congestions and the Panama Canal's drought-like conditions, the region also lost a significant amount of trade, which had a negative influence on the market. Furthermore, the dealers reduced the advertised prices of vitamin B2 due to growing stocks, which ultimately destroyed the trend in vitamin B2 pricing.

Analyst Insight

According to Procurement Resource, the price trend of Vitamin B2 are expected to bore a bearish trajectory in the upcoming quarters as the downstream demands do not look in favor of the market.

Vitamin B2 Price Trend for the July-September of 2023

Asia

The vitamin B2 price trend achieved a stagnancy in the third quarter of 2023. The de-escalation of the prices of vitamin B2 was under the influence of the poor demand scenario presented by the downstream industries in both domestic and overseas sectors.

In addition to this, the economy of Asian countries moved in a positive direction and at such slower pace, resulting in the swindling of consumer confidence in the vitamin B2 market. However, the trend grew northwards in the last month with appreciation in the Asian currency as compared to the US dollar and shortage of products in the region.

Europe

Initially, the weak industrial market and low interest of the nutraceuticals sector in vitamin B2 proved to be a problem for the vitamin B2 price trend. Additionally, the poor condition of the European economy further pushed the traders to lower their quotations during the first months of the third quarter. However, the vitamin B2 market in the European countries was affected by the disruptions in the supply chains, which in turn lowered the availability of the material in the region. On the other hand, the downstream industries were able to maintain a positive, stable demand for vitamin B2, and thus, this widening of the gap between supply and demand supported the rise in vitamin B2 prices.

North America

The downstream industries of vitamin B2 adopted a pessimistic approach and thus failed to support the growth of vitamin B2 price trend. The vitamin B2 price trajectory also experienced a negative slope as the pressure of inflation on both manufacturing and consumer sectors was well evident. The market also slumped with monetary challenges and a lack of consumer confidence in the vitamin B2 industries.

Analyst Insight

According to Procurement Resource, the price trend of  Vitamin B2 are expected to suffer in view of poor demand and persistent economic challenges round the globe.

Vitamin B2 Price Trend for the First Half of 2023

Asia

Vitamin B2, also known as riboflavin, is an essential micronutrient for the human body. Vitamin B2 is generally produced using various biochemical processes involving fermentation with significant microbes. Other than being an important dietary supplement, Vitamin B2 is also used in the agricultural sector. In the first quarter of 2023, the Chinese Vitamin B2 industry struggled with depreciating trend.

The slow post-COVID recovery was painful for the manufacturing sector in general, but the regular domestic demands from the pharma and nutraceutical sectors provided some respite. However, the lethal drop in international queries was costing Vitamin B2 suppliers a lot. These trend continued in the second quarter as well since the prices didn’t improve till the very end. The rapid normalization in the upstream situations with eased freight and energy costs led to further depression in the upstream cost support. Overall, negative market trend were observed.

Europe

Following in the Asian footsteps, the Vitamin B2 prices remained in a slump in the European markets as well. Even though the market fundamentals showed gradual improvement with better supply and demand dynamics over the discussed period, the prices struggled to remain firm. After the Russian invasion of Ukraine, the European economy struggled badly. It was the restoration of trade routes and supply chains that facilitated the existing limited product exchanges. Overall, muted market sentiments were observed.

North America

The North American Vitamin B2 price trend mirrored the fluctuations in the global Vitamin B2 market trend. With constricted demands and supplies, the price trend were mostly facing downward throughout the discussed period.

Analyst Insight

According to Procurement Resource,  given the current disturbances in the Vitamin B2 market, the prices are expected to strive for stability in the coming months.

Procurement Resource provides latest prices of Vitamin B2. 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.