CoQ10 Prices, Monitor, Analysis & Demand

North America

CoQ10 pricing in North America for the entire Q4 2023 witnessed a downward trend due to multiple factors. After experiencing a significant price surge in the previous month, the sudden decline in demand from the local market and the equilibrium between supply and demand also contributed to the noticeable price decrease. Inventories, however, remained enough among the merchants to cater to the overall requirements and continue to follow some historical, seasonal trends. Furthermore, the manufacturing activity within the exporting nations also plummeted which contributed to the surplus of stock availability among the domestic market and at the ports. Moreover, the USA, being the importing nation, experienced consistent price drops, with no significant fluctuations observed in the local market. Also, even though inflation and the US certain sectors have shown improvement, market participants continue to witness a pessimistic market outlook in terms of the demand side from the Nutraceutical sector. As anticipated, discussions about prices in the US continued to remain on the weaker side, with insufficient new demand emerging from both domestic and international markets. Persistent higher availability of surplus inventory among suppliers, combined with weakened purchasing sentiments, highlighted the challenges faced by market participants in effectively managing their stock until the final weeks of December 2023. Additionally, contributing to this scenario, the appreciation of the Chinese Yuan (CNY) against the US dollar increased the cost for foreign investors looking to invest in China. This potentially results in reduced foreign investment, further reinforcing the overall decrease in prices. With this, overall, the CoQ10 Prices in North America for Q4 2023 witnessed a bearish trend until the final weeks of December 2023 with prices settling at USD 208750/MT.

APAC

The fourth quarter of 2023 proved to be challenging for CoQ10 pricing in the APAC region primarily in China. Persistent low demand and high inventory levels were the primary reasons for the decline in prices. The downstream market also showed weakness, with CoQ-10 manufacturers experiencing sluggish shipments. In addition, the absence of new inquiries from both domestic and international markets contributed to the decrease in prices. The manufacturing sector across the country has been significantly affected due to the lack of new demand. Market participants continued to express concern about the uncertain future of the market, even as China's manufacturing sector begins to recover from its downturn after a golden week holiday. The supplements industry, in particular, has suffered from the imbalance between supply and demand, leading manufacturers to struggle to attract clients and reducing orders for raw materials like nutraceuticals and APIs used in finished goods for re-export. Consequently, the reduced prices have intensified competition among CoQ-10 producers, prompting them to focus on strategies for cost reduction and product differentiation to protect their market share until the final weeks of December 2023. Ultimately, the latest price of COQ10 Ex-Shanghai in China for the current quarter stood at USD 175500/MT, reflecting the overall negative trend in CoQ10 pricing for the APAC region.

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Europe

During the fourth quarter of 2023, the CoQ10 market in Europe witnessed a continual downward pricing trend, aligning with the pessimistic patterns observed in other exporting nations. Examining the overall demand aspect, a consistent decrease in downstream consumption for CoQ10 was noted across the region, with a particular emphasis on Germany. This decline can be attributed to various factors, including heightened production in exporting countries, notably China, resulting in a global oversupply of CoQ-10 in the preceding months. The surplus availability exerted downward pressure on prices as manufacturers and suppliers engaged in fierce competition to clear their inventories. Furthermore, the decreased influx of new inquiries from market participants was linked to the substantial existing inventory held by domestic players, addressing the general demand without necessitating additional orders. Complicating the situation further, the observed reduction in prices extended beyond the domestic scope, impacting key exporting nations. Notably, Chinese provinces, which traditionally play a significant role in the CoQ-10 market, witnessed a substantial dip in prices. This development had a cascading effect on the broader pricing dynamics within Germany, adding complexity to the landscape for market participants. With this, the latest price of CoQ10 in Germany at the end of the quarter was USD 207360/MT as December concludes.

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