Track Vitamin D Price Index Historical and Forecast

Vitamin D Price Trend and Forecast: Q4 2024 - Q3 2025

Executive Summary

The global Vitamin D market has demonstrated a strong upward trajectory through Q1 to Q3 2025, following the robust price movements recorded in Q4 2024. Across North America, APAC, and Europe, Vitamin D prices have been influenced by tight inventories, rising production costs, strong downstream demand, and supply-chain dynamics.

In North America, prices surged due to sustained pharmaceutical, nutraceutical, and personal care demand, alongside export inquiries and domestic restocking behavior. In APAC, particularly China, prices reflected strong export momentum, occasional plant outages, and rising feedstock costs. Europe, led by Germany, experienced a measured increase driven by elevated import costs, distributor inventory management, and fluctuating freight conditions.

This article presents a detailed quarterly review, global price overview, regional analyses, production and cost insights, procurement outlook, and answers frequently asked questions to support informed decision-making in the Vitamin D market.

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Introduction

Vitamin D, essential for bone health, immune function, and general wellness, has seen increasing global demand in recent years, driven by pharmaceutical, nutraceutical, and personal care sectors. The market is highly sensitive to production costs, raw material availability, logistics constraints, and seasonal procurement behavior.

From Q4 2024 to Q3 2025, the Vitamin D market experienced notable price volatility across major regions due to tight supply conditions, rising raw material costs, seasonal demand surges, and trade-flow disruptions. This report captures these movements, explains the underlying causes, and offers forward-looking insights for buyers, manufacturers, and traders.

Global Price Overview

Globally, Vitamin D prices reflected steady growth across quarters, with North America maintaining a firm upward momentum, APAC exhibiting moderate increases with short-term volatility, and Europe showing measured price appreciation.

North America: Average Vitamin D prices reached USD 25,083.33/MT in Q3 2025, up 28.3% QoQ, primarily due to strong export demand, tight inventories, and high domestic restocking activity.

APAC (China): Prices averaged USD 13,013.33/MT in Q3 2025, representing a 3.55% QoQ rise, supported by export demand but moderated by high inventories and cautious procurement.

Europe (Germany): Vitamin D3 prices averaged USD 13,818.67/MT in Q3 2025, increasing 3.39% QoQ due to stronger import offers and tight domestic supply.
Underlying these trends were production cost pressures from feedstock and lanolin price increases, container and logistics challenges, and seasonal demand patterns in pharmaceuticals, nutraceuticals, and personal care applications.

Regional Analysis

North America

Quarterly Movements:

In Q3 2025, the U.S. Vitamin D Price Index rose 28.3% QoQ. Prices were influenced by strong domestic restocking, export inquiries, and tight inventories. Spot prices strengthened with weekly gains, reflecting limited availability and competitive procurement among buyers.

Historical trends indicate steady upward movement:

Q2 2025: Continued strong demand with average prices around USD 22,400/MT in July, supported by robust pharmaceutical and nutraceutical procurement and firm regulatory support.

Q1 2025: Prices rose from USD 16,600/MT in January to USD 18,100/MT by March due to winter demand, logistics challenges, and trade uncertainties.

Q4 2024: Price increase of 3.61% from October ($15,780/MT) to December ($16,350/MT), driven by end-user procurement, seasonal trends, and strategic supplier pricing.

Reasons for Price Changes:

Tight inventories constrained spot availability.
Strong export inquiries increased competitive bidding.
Elevated import costs due to lanolin and precursor price rises and container congestion.
Domestic plants operated at high utilization but could not fully offset global supply constraints.
Production and Cost Trends:
Rising lanolin and precursor costs influenced production costs, pressuring margins. Plants maintained high operating rates to meet robust downstream demand.

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Procurement and Supply Outlook:
Buyers pursued aggressive restocking, particularly in pharmaceuticals, nutraceuticals, and seasonal retail channels. Supply-side dynamics, including import timing and container congestion, remain key considerations.

Asia-Pacific (APAC)

Quarterly Movements:

In China, Q3 2025 Vitamin D prices rose 3.55% QoQ to an average of USD 13,013.33/MT. Price volatility reflected plant outages, distributor restocking, and fluctuating export inquiries.

Historical trends:

Q2 2025: FOB Shanghai prices increased steadily, reaching USD 13,200/MT in July, driven by international demand and tight domestic supply.

Q1 2025: Prices rose from USD 10,750/MT in January to USD 12,000/MT by March, fueled by post-holiday production recovery, export demand, and rising feedstock costs.

Q4 2024: Prices surged over 16% from USD 9,110/MT in October to USD 10,600/MT in December, reflecting limited inventories and strategic procurement.

Reasons for Price Changes:

Early high inventories and weak export inquiries applied downward pressure on prices.
Full-capacity production and resumed shipments increased availability, moderating price spikes.
Stable logistics and currency conditions limited cost volatility.
Production and Cost Trends:
Feedstock and freight cost increases supported production cost trends marginally. Manufacturers maintained steady operating rates, ensuring reliable output.

Procurement and Supply Outlook:
Procurement remained cautious, with distributors managing inventories to avoid oversupply. Export demand is expected to gradually increase with seasonal restocking, supporting moderate price recovery.

Europe

Quarterly Movements:

In Germany, the Vitamin D3 Price Index rose 3.39% QoQ to USD 13,818.67/MT in Q3 2025. Spot prices weakened slightly as Chinese exporters reduced offers, easing landed costs.

Historical trends:

Q2 2025: Prices rose modestly in Germany due to import cost pressures and seasonal demand.

Q1 2025: Prices increased from USD 12,200/MT in January to USD 13,000/MT in March, reflecting tight supply and rising procurement costs.

Q4 2024: Prices climbed over 14% from USD 10,490/MT in October to USD 12,000/MT in December, driven by surging demand, extended delivery timelines, and favorable market conditions.

Reasons for Price Changes:

Elevated Asian export offers increased landed costs.
Distributor inventories remained high, restraining immediate demand.
Freight rate variations and port congestion influenced short-term volatility.
Production and Cost Trends:
Energy and feedstock costs remained stable, moderating production cost pressures. Import-dependent pricing was influenced by fluctuating overseas supply and logistics conditions.

Procurement and Supply Outlook:
Cautious downstream procurement and distributor inventory management are expected to continue, with seasonal restocking likely to drive modest price recovery.

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Historical Quarterly Review

Q4 2024:

North America: Prices rose 3.61% due to end-user demand and seasonal procurement.

APAC: Over 16% increase driven by limited inventories, strategic procurement, and export demand.

Europe: Prices increased over 14% amid strong global demand and supply chain delays.

Q1 2025:

North America: Prices increased from USD 16,600/MT to USD 18,100/MT.
APAC: Prices rose from USD 10,750/MT to USD 12,000/MT.
Europe: Prices increased from USD 12,200/MT to USD 13,000/MT, reflecting firm import costs.

Q2 2025:

North America: Continued price gains driven by seasonal demand, reaching USD 22,400/MT in July.

APAC: Steady rises to USD 13,200/MT, supported by export demand and tight supply.

Europe: Modest price gains amid import cost pressures and seasonal buying.
Q3 2025:

North America: USD 25,083.33/MT (+28.3% QoQ).
APAC: USD 13,013.33/MT (+3.55% QoQ).
Europe: USD 13,818.67/MT (+3.39% QoQ).

Production and Cost Structure Insights

Vitamin D production primarily relies on lanolin and cholesterol as key raw materials. Rising feedstock costs, coupled with energy and labor considerations, influence production cost trends.

North America: Plants maintained high utilization; production costs increased slightly due to lanolin and precursor price rises.
APAC: Feedstock and freight costs added marginal pressure; production remained consistent despite occasional plant outages.
Europe: Energy and feedstock costs remained stable; import dependency introduced landed cost variations.
Overall, production cost pressures are transmitted through supply chains, affecting spot and contract prices regionally.

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Procurement Outlook

North America: Expect continued aggressive restocking amid pharmaceutical, nutraceutical, and seasonal retail demand. Limited domestic inventories may sustain upward price pressure.
APAC: Procurement remains cautious; gradual recovery anticipated as export inquiries and seasonal demand rise.
Europe: Distributor inventory management and cautious downstream buying likely to maintain moderate price increases; seasonal restocking may offer modest upward movement.

FAQ Section

Q1: Why did Vitamin D prices increase in North America in September 2025?
A1: Tight inventories, strong export inquiries, elevated import costs from higher lanolin and precursor prices, container delays, and high domestic plant utilization drove upward price pressure.

Q2: What caused price movements in APAC during Q3 2025?
A2: Prices rose moderately due to export demand, occasional plant outages, and feedstock and freight cost increases, while high inventories and cautious procurement moderated gains.

Q3: How did European Vitamin D3 prices change in Q3 2025?
A3: Prices increased slightly, driven by elevated import offers from Asia, distributor inventory levels, cautious downstream procurement, and intermittent port congestion affecting landed costs.

Q4: What are the key production cost drivers for Vitamin D?
A4: Lanolin, cholesterol, feedstock prices, energy costs, and logistics expenses are primary production cost drivers. Rising raw material costs can directly pressure margins and pricing.

Q5: What factors influence short-term Vitamin D price forecasts?
A5: Key factors include seasonal demand, export inquiries, domestic restocking, production capacity, raw material costs, logistics constraints, and currency fluctuations.

How ChemAnalyst Supports Buyers

ChemAnalyst provides real-time market news, weekly price updates, and actionable insights across over 450 commodities, including Vitamin D.

Key Benefits for Buyers:

Real-Time Prices: Track spot and contract prices across regions to make informed purchasing decisions.
Forecasting: Anticipate market movements with quarterly price forecasts, enabling optimized procurement strategies.
Supply-Chain Intelligence: Monitor plant shutdowns, logistics bottlenecks, and trade-flow dynamics to mitigate supply risks.
Expert Analysis: Our chemical engineers and analysts explain market drivers, cost structures, and procurement behavior for actionable intelligence.
Global Coverage: Ground teams at 50+ major trading ports ensure first-hand insights on supply, demand, and price fluctuations.
By leveraging ChemAnalyst's market intelligence, buyers can proactively manage procurement, optimize costs, and navigate complex supply chains with confidence.

Conclusion

The Vitamin D market through Q4 2024 to Q3 2025 has displayed a resilient upward trend across North America, APAC, and Europe. Tight inventories, rising production costs, strong pharmaceutical and nutraceutical demand, seasonal restocking, and global trade dynamics continue to shape pricing behavior. Buyers and industry stakeholders are advised to monitor supply-demand fundamentals, production cost drivers, and logistics developments to make timely procurement decisions. ChemAnalyst remains a trusted partner in delivering accurate, real-time, and actionable market intelligence to navigate this complex and dynamic market effectively.

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This release was published on openPR.