| Product Code: ETC5330016 | Publication Date: Nov 2023 | Updated Date: Nov 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Bhawna Singh | No. of Pages: 60 | No. of Figures: 30 | No. of Tables: 5 |
Guyana`s import of Vitamin B12 in 2024 continued to be dominated by top exporting countries such as UK, USA, Australia, Canada, and India, reflecting a highly concentrated market with a high Herfindahl-Hirschman Index (HHI). The impressive Compound Annual Growth Rate (CAGR) of 73.22% from 2020 to 2024 indicates a rapidly expanding market, further supported by a remarkable growth rate of 242.31% from 2023 to 2024. This signifies strong demand and potential opportunities for businesses operating in the Vitamin B12 import sector in Guyana.

The Vitamin B12 Market in Guyana is expanding due to rising health awareness and the increasing prevalence of vitamin deficiencies. Vitamin B12 supplements are in demand for their role in improving energy levels, brain function, and red blood cell formation. The market is supported by the growing popularity of health supplements and dietary products. However, market challenges include competition from alternative supplements and the need for regulatory compliance in product labeling and claims.
The rising awareness about health and wellness among Guyana`s population is a key driver for the vitamin B12 market. The increasing prevalence of vitamin deficiencies and the growing demand for dietary supplements and fortified foods are boosting market demand. Additionally, expanding vegan and vegetarian dietary preferences have heightened the need for vitamin B12 supplementation.
The vitamin B12 market in Guyana faces challenges related to the limited access to high-quality supplements and fortified foods in some areas, particularly in rural regions. There is also a lack of awareness about the importance of vitamin B12 supplementation, which could hinder demand. Additionally, the high cost of imported supplements can be prohibitive for many consumers, limiting market growth. Counterfeit or low-quality products in the market further complicate consumer trust.
In Guyana, the government has policies that support public health initiatives, especially in combating nutritional deficiencies like vitamin B12 deficiency. Public health campaigns promoting awareness about the importance of vitamins in overall well-being encourage the use of vitamin supplements. The government is also involved in regulating the fortification of foods with essential vitamins, ensuring the safety and quality of these products. However, there may be challenges in enforcing regulations on labeling, as well as the proper distribution of vitamin supplements to reach rural populations.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Guyana Vitamin B12 Market Overview |
3.1 Guyana Country Macro Economic Indicators |
3.2 Guyana Vitamin B12 Market Revenues & Volume, 2021 & 2031F |
3.3 Guyana Vitamin B12 Market - Industry Life Cycle |
3.4 Guyana Vitamin B12 Market - Porter's Five Forces |
3.5 Guyana Vitamin B12 Market Revenues & Volume Share, By Dosage Form, 2021 & 2031F |
3.6 Guyana Vitamin B12 Market Revenues & Volume Share, By Route of Administration, 2021 & 2031F |
3.7 Guyana Vitamin B12 Market Revenues & Volume Share, By Distribution Channel, 2021 & 2031F |
4 Guyana Vitamin B12 Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing awareness about the importance of vitamin B12 for overall health and well-being |
4.2.2 Growing aging population in Guyana leading to higher demand for vitamin B12 supplements |
4.2.3 Rise in disposable income allowing consumers to spend more on health products |
4.3 Market Restraints |
4.3.1 Limited availability of vitamin B12 fortified foods in the local market |
4.3.2 Lack of education and understanding about the benefits of vitamin B12 supplementation |
4.3.3 Price sensitivity among consumers in Guyana affecting purchasing decisions |
5 Guyana Vitamin B12 Market Trends |
6 Guyana Vitamin B12 Market Segmentations |
6.1 Guyana Vitamin B12 Market, By Dosage Form |
6.1.1 Overview and Analysis |
6.1.2 Guyana Vitamin B12 Market Revenues & Volume, By Syrups, 2021-2031F |
6.1.3 Guyana Vitamin B12 Market Revenues & Volume, By Injection, 2021-2031F |
6.1.4 Guyana Vitamin B12 Market Revenues & Volume, By Tablets, 2021-2031F |
6.1.5 Guyana Vitamin B12 Market Revenues & Volume, By Powder, 2021-2031F |
6.1.6 Guyana Vitamin B12 Market Revenues & Volume, By Nasal Spray, 2021-2031F |
6.2 Guyana Vitamin B12 Market, By Route of Administration |
6.2.1 Overview and Analysis |
6.2.2 Guyana Vitamin B12 Market Revenues & Volume, By Oral, 2021-2031F |
6.2.3 Guyana Vitamin B12 Market Revenues & Volume, By Intravenous, 2021-2031F |
6.2.4 Guyana Vitamin B12 Market Revenues & Volume, By Subcutaneous, 2021-2031F |
6.2.5 Guyana Vitamin B12 Market Revenues & Volume, By Nasal, 2021-2031F |
6.3 Guyana Vitamin B12 Market, By Distribution Channel |
6.3.1 Overview and Analysis |
6.3.2 Guyana Vitamin B12 Market Revenues & Volume, By Hospital Pharmacy, 2021-2031F |
6.3.3 Guyana Vitamin B12 Market Revenues & Volume, By Retail Pharmacy, 2021-2031F |
6.3.4 Guyana Vitamin B12 Market Revenues & Volume, By Online Pharmacy, 2021-2031F |
7 Guyana Vitamin B12 Market Import-Export Trade Statistics |
7.1 Guyana Vitamin B12 Market Export to Major Countries |
7.2 Guyana Vitamin B12 Market Imports from Major Countries |
8 Guyana Vitamin B12 Market Key Performance Indicators |
8.1 Number of health education campaigns conducted to promote the benefits of vitamin B12 |
8.2 Percentage increase in sales of vitamin B12 supplements year-over-year |
8.3 Number of new product launches in the vitamin B12 market in Guyana |
9 Guyana Vitamin B12 Market - Opportunity Assessment |
9.1 Guyana Vitamin B12 Market Opportunity Assessment, By Dosage Form, 2021 & 2031F |
9.2 Guyana Vitamin B12 Market Opportunity Assessment, By Route of Administration, 2021 & 2031F |
9.3 Guyana Vitamin B12 Market Opportunity Assessment, By Distribution Channel, 2021 & 2031F |
10 Guyana Vitamin B12 Market - Competitive Landscape |
10.1 Guyana Vitamin B12 Market Revenue Share, By Companies, 2024 |
10.2 Guyana Vitamin B12 Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |