Provitamins and vitamins market in Greece

Earlier Report Observations

The market for provitamins and vitamins in Greece reached a value of 51 715 thousand US dollars in 2018, supported by a ministerial decision that allowed the sale of dietary supplements in supermarkets, significantly expanding distribution channels. Consumer demand for immunity-boosting vitamins also began to rise. In 2019, the market volume contracted to 37 987 thousand dollars, but this period saw the entry of new players like Superfoods through acquisitions, setting the stage for future expansion. The COVID-19 pandemic in 2020 reversed the decline, driving the market to 44 542 thousand dollars as consumers sought immune-supporting supplements, despite supply chain disruptions.

After 2020, import values remained elevated, reflecting sustained demand. Legislative changes in 2021 tightened labeling requirements for supplements, while focus on vitamins D and B12 continued. In 2022, Nestle Hellas entered the market, investing in the vitamins and minerals category and promoting scientific development, even as inflation pressured costs. By 2023, demand shifted towards nervous system support vitamins like Lamberts B50 Complex. The rise of e-commerce platforms such as Trendyol in 2024 further stimulated the market through online sales, supported by technological advancements.

Production provitamins and vitamins in Greece

In value, 2017-2020, K $ US

In 2020, Greece's production of provitamins and vitamins reached a value of 10 963 thousand US dollars, marking a 16.1% increase compared to the previous year. Over the period from 2017 to 2020, production grew by 14.3%, with an average annual growth rate of 4.5%. The lowest production value was recorded in 2019 at 9 439 thousand US dollars, which also saw the largest decline of 8.5% during this timeframe.

Annual dynamics of production in Greece in value, 2017-2020, K $ US

Exports provitamins and vitamins from Greece

Exports in kind, t

The market exhibited volatility throughout the observed period. Exports of provitamins and vitamins from Greece peaked in 2019 at 552 tonnes, then fell to their lowest point in 2020 at 247 tonnes, representing a 2.2-fold decrease. In 2020, cross-border shipments declined by 55.2% year-on-year. The largest increase occurred in 2019, with a growth of 82.4%.

Annual dynamics of product's exports from Greece in kind, 2017-2020, t

From 2017 to 2020, Romania, Bulgaria, and Nigeria were the leading destinations for Greece's exports of provitamins and vitamins in kind. Romania accounted for 42.8% of exports, Bulgaria for 16.3%, and Nigeria for 11.8%. Together, these three countries represented 70.9% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Greece in kind, 2017-2020

Exports in value, K $ US

After two years of growth, Greece's exports of provitamins and vitamins in value terms declined in 2020. Exports amounted to 2 110 thousand US dollars, reflecting a significant decrease of 14.3% compared to the previous year. Over the 2017-2020 period, exports increased by 55.7%, with an average annual growth rate of 15.9%. The highest value was recorded in 2019 at 2 461 thousand US dollars, which also saw the largest increase of 43.1%.

Annual dynamics of product's exports from Greece in value, 2017-2020, K $ US

Between 2017 and 2020, Greece's exports of provitamins and vitamins in value terms were widely distributed across partner countries. Cyprus accounted for 22.5% of exports, the United Kingdom for 14.9%, and Bulgaria for 12.2%. Combined, these three countries represented 49.6% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Greece in value, 2017-2020

Imports provitamins and vitamins to Greece

Imports in kind, t

Following a two-year decline, Greece's imports of provitamins and vitamins in kind increased in 2020. Imports reached 2 918 tonnes, up by 10.0% compared to 2019. Over the 2017-2020 period, imports decreased by 27%, with an average annual decline of 10.0%. The lowest import volume was recorded in 2019 at 2 654 tonnes, while the largest decline occurred in 2018 at 31.9%.

Annual dynamics of product's imports to Greece in kind, 2017-2020, t

From 2017 to 2020, the Netherlands, Belgium, and China were the main suppliers of provitamins and vitamins to Greece in kind. The Netherlands accounted for 28.0% of imports, Belgium for 18.6%, and China for 16.9%. Together, these three countries comprised 63.5% of total imports.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Greece in kind, 2017-2020

Imports in value, K $ US

In 2020, Greece's imports of provitamins and vitamins in value terms amounted to 35 689 thousand US dollars, showing a strong increase of 15.1% from the previous year. Between 2017 and 2020, imports decreased by 5.8%, equivalent to an average annual decline of 2.0%. The lowest value was recorded in 2019 at 31 009 thousand US dollars, while the highest was in 2018 at 43 116 thousand US dollars. The largest decline occurred in 2019, with a drop of 28.1%.

Annual dynamics of product's imports to Greece in value, 2017-2020, K $ US

During the 2017-2020 period, the Netherlands, Belgium, and the United Kingdom remained the principal suppliers of provitamins and vitamins to Greece in value terms. The Netherlands accounted for 25.3% of imports, Belgium for 13.0%, and the United Kingdom for 12.5%. Jointly, these three countries represented 50.9% of total imports.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Greece in value, 2017-2020