The vitamin market remains volatile, shaped by production shifts, policy changes, and unpredictable global demand. As we enter Q1 2026, the tone feels different from last year’s relentless softness. Destocking is largely behind us, and with additional risks such as currency fluctuations in a year of appointment of a new Chair of the US Federal Reserve, anti-dumping cases in multiple regions as well as a growing disease burden, Chinese players are prioritizing value over sheer volume or market share. There’s also growing recognition (also reflected in the decreasing number of new capacity announcements) that adding capacity does not create incremental demand, reinforcing the need for smarter strategies. The market is still cautious, but early signs of re-normalization are emerging. For buyers and producers, this is a season of recalibration—where timing and strategy matter more than ever.
This quarter underscores a critical reality: global vitamin production is highly concentrated, with China accounting for nearly 80% overall and even higher shares in key vitamins. U.S. industry groups have raised alarms about food and national security risks tied to this reliance. With only about ten countries producing vitamins—and often just two or three per vitamin—diversification options are limited. This structural vulnerability means pricing trends are only part of the story; supply chain resilience is now a strategic priority.
A Market Searching for Balance
Last year’s oversupply and aggressive discounting—especially from Chinese producers—are no longer the main story. Prices have stabilized and are trending upward in a steady, sustainable way. This signals a healthier market dynamic and growing confidence, setting the stage for a stronger, more resilient outlook ahead.
After a steep 70% drop, Vitamin E has stabilized. North American prices are steady, and Chinese FOB offers have firmed slightly. Buyers remain cautious, avoiding long commitments, but the tone has shifted from panic to watchfulness. Measures in China appear aimed at supporting upward pricing. Premium non-Chinese material remains tight—a reminder that alternatives are scarce.
Vitamin A stays under pressure. Offers are weak, and the return of a major European producer has done little to shift the market. High production costs make deeper cuts unlikely, yet demand is sluggish and competition intense.
Vitamin D3 remains unpredictable. Prices vary widely by producer strategy and regional regulations. Expansion plans in China have been pushed to mid-2026 but buyers are still covering carefully.
Vitamin K3 holds steady at low levels. Chinese origin material maintains a strong presence, but modest growth from non-Chinese producers has triggered competitive responses.
Vitamin C prices remain low and stable despite signals of potential increases from Chinese producers. Oversupply persists even after shutdowns, and government efforts to curb price wars have yet to show impact.
Vitamin B1 prices are increasing again after a brief dip, driven by Chinese hikes and tariff changes. With low-cost alternatives disappearing and supply tight, upward pressure is expected to continue. Spot prices are firming, and while buyers remain cautious on long-term commitments, further increases seem possible.
Other B-vitamins tell a mixed story. Vitamin B2 shows a widening gap between EU and non-EU materials, as new entrants compete aggressively outside Europe, pushing prices lower. Vitamin B3 prices remain low, mainly driven by Chinese and Indian players under pressure to close the year. However, market fundamentals (linked to herbicide markets) suggest materially higher pricing in the medium-to-long term.
After hitting all-time lows, Vitamin B5 prices have begun a slight rebound, reflecting an unsustainable situation despite oversupply. Tariffs are raising landing costs in North America, while new producers compete aggressively for market share, pressuring smaller players.
Vitamin B6 remains steady after a sharp decline, though new entrants could disrupt the balance. Price declines have slowed, while slight softening continues, driven by low demand and aggressive selling. Low prices are curbing expansions, with one Chinese supplier scaling back growth plans.
Biotin (B7) is stable for now, supported by tariffs and limited spot activity as most buyers are covered for the quarter. But new capacity expected later this year could weigh on an already oversupplied market. Folic Acid (B9) prices are holding firm, and low-priced inventory appears to have sold out. Vitamin B12 prices remain stable, with U.S. tariffs contributing to higher regional prices.
Conclusion
The vitamin market in Q1 2026 shows contrasts. Tariffs are reshaping costs, and China’s dominance keeps supply risk high. With production concentrated in a few countries, any disruption could ripple across feed, food, and consumer markets, making resilience a priority.
Destocking is largely behind us, but risks such as currency volatility, trade actions, and rising disease burden continue to shape strategies. Chinese producers are shifting focus to value over volume, and fewer capacity announcements reflect recognition that supply growth doesn’t drive demand.
Pricing has turned a corner, with stabilization and gradual upward movement replacing last year’s aggressive discounting. Uncertainty remains, but market sentiment is notably more constructive than in recent quarters
For buyers, balancing short-term price tactics with long-term security is critical. Building resilience through trusted partnerships can provide peace of mind in an uncertain market. dsm-firmenich Animal Nutrition & Health plays a role here by offering access to vitamins made in Europe, helping mitigate supply risk and support continuity.
