HS Code:
The 'Other vitamins and their derivatives' category, classified under HS Code 2936.29, encompasses a range of vitamins and their derivatives not covered under specific vitamin categories like A, B, C, D, or E. This includes lesser-known vitamins, synthetic derivatives, and compounds used in pharmaceutical, dietary supplement, and animal feed industries. These products are critical for health and nutrition applications globally, with demand driven by increasing health awareness and the growing nutraceutical sector.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for nutraceuticals
Increased imports of vitamin derivatives for dietary supplements due to growing health consciousness post-COVID-19
2021-2022
Shift towards synthetic vitamins
Lower production costs of synthetic derivatives have boosted trade volumes, particularly from manufacturing hubs like China
2020-2022
Sustainability concerns
Growing preference for sustainably sourced or bio-based vitamins is influencing trade policies and consumer preferences
2022
The European Union introduced stricter quality control measures for vitamin derivatives to ensure safety and compliance with health standards.
June 2023
Increased compliance costs for exporters, particularly from Asia, but improved consumer trust in EU markets.
A new bilateral agreement reduced tariffs on certain vitamin categories, facilitating smoother trade flows between the two largest players in this market.
March 2023
Boosted export volumes from China to the US, stabilizing prices for vitamin derivatives in North America.
India announced subsidies for local manufacturers of vitamins and derivatives under the 'Make in India' initiative to reduce dependency on imports.
January 2023
Potential reduction in imports while increasing India's export capacity in the long term.