For the Quarter Ending June 2023
North America
In the United States, the prices of Biotin demonstrated a mixed trend in the second quarter. The prices increased by 4.59% in April due to heavy orders from end-user industries and a lack of supply of Biotin in the US market. The manufacturing PMI (Purchasing managers index) settled at 47.1 in April, reflecting the contraction of the manufacturing sector in the USA. The decline in business activity led to limited supply among manufacturers and suppliers. However, demand was strong from the consumer end, which resulted in increased prices of Biotin in April. Moreover, inflation also increased slightly, which further contributed to the downward trend of Biotin prices. Apart from that, prices decreased in May and June by 4.52% and 2.42%, respectively. The manufacturing PMI declined to 46.3 in June from 48.4 in May, indicating a decline in purchasing activity and follow-up for new orders, which decreased the prices of Biotin. The consumer price index (CPI), a measure of inflation, just increased by 0.2% in June compared to 0.1% in May, suggesting inflation has slowed in both May and June due to high-interest rates, resulting in lower demand for Biotin in the US market.
Asia Pacific
In China, Biotin prices increased slightly in April by 0.11% due to steady demand from end-user nutraceutical and pharmaceutical industries coupled with limited supply among market providers. The official manufacturing purchasing managers' index (PMI), which was 51.9 in March, fell to 49.2 in April. This indicates that manufacturing activity decreased, with a rating below the 50-point threshold that differentiates monthly activity expansion from contraction. Apart from that, the PMI values were settled at 49 in June, compared to 48.8 in May, suggesting a decrease in factory activity due to weaker demand from end-consumers with declining purchases, export sales, and new orders. Additionally, the Chinese Yuan fell against the US Dollar in June, indicating a slowdown in China's post-pandemic recovery due to weaker consumer confidence. Meanwhile, Russia's invasion of Ukraine continued to create obstacles for exporters, affecting supply chains. This led to increased supply in the Chinese domestic market, further putting downward pressure on prices. Market providers were focused on destocking in order to maintain profit margins.
Get Real Time Prices of Biotin: https://www.chemanalyst.com/Pricing-data/biotin-1262
Europe
In Germany, the prices of Biotin increased by 1.96% in April due to limited stock among market suppliers and consistent demand from end sectors. Germany's imports dropped by 1.7% in April, which decreased the supply of Biotin in the German market. But the demand remained strong from the nutraceutical and pharmaceutical industries that, supported the upward trend of prices. However, the prices decreased significantly in May and June by 10.05% and 4.48%, respectively, because of weak purchasing power and overflowing inventory in the market. In addition, the Manufacturing PMI (Purchasing Managers Index) fell to 41 in June, from 43.2 in May and 44.5 in April, indicating a slowing down of the German economy, with decreased purchasing activity and inquiries for new orders. The German economy is being hit by rising inflation and higher interest rates imposed by the European Central Bank, leading to higher food and energy prices. This has increased the cost of living and reduced demand in the domestic market, further supporting the downtrend in biotin prices.
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Biotin, also called vitamin B₇, is one of the B vitamins.
Your body needs biotin to help convert certain nutrients into energy.
It also plays an important role in the health of your hair, skin, and nails.
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