For the Quarter Ending September 2025
North America
• In the USA, the Vitamin B5 Price Index fell by 4.44% quarter-over-quarter, reflecting weaker import demand and high inventories.
• The average Vitamin B5 price for the quarter was approximately USD 6345.00/MT, influenced by restrained procurement.
• Vitamin B5 Spot Price softened during the quarter as exporters maintained offers and buyers delayed replenishment decisions.
• Vitamin B5 Price Forecast expects modest firming later, with Price Index recovery tied to seasonal procurement and restocking.
• Vitamin B5 Production Cost Trend remained stable due to predictable feedstock availability and easing freight cost pressures.
• Vitamin B5 Demand Outlook shows cautious restocking by pharmaceuticals and supplements, supporting gradual uptake but limited momentum.
• Export competitiveness and ample supply pressured the Vitamin B5 Price Index, constraining spot and contract negotiation leverage.
• Inventory levels remained moderate to high while major exporters operated normally, reducing urgency for immediate import replenishment.
Why did the price of Vitamin B5 change in September 2025 in North America?
• Sustained exporter production maintained abundant availability, limiting upward pressure despite seasonal procurement intentions in Q3.
• Domestic buyers deferred purchases, drawing down inventories rather than initiating new orders, weakening demand signals.
• Stable freight and logistics reduced landed cost variability, allowing importers to wait for lower offers.
APAC
• In China, the Vitamin B5 Price Index fell by 4.12% quarter-over-quarter, reflecting oversupply, muted procurement.
• The average Vitamin B5 price for the quarter was approximately USD 6200.00/MT, based on exports.
• Vitamin B5 Spot Price softened; exporters reduced offers to clear elevated inventories across export channels.
• Vitamin B5 Price Forecast indicates moderate recovery driven by cautious procurement and seasonal fortification requirements.
• Vitamin B5 Production Cost Trend remained stable due to uninterrupted feedstock supply, controlled manufacturing expenses.
• Vitamin B5 Demand Outlook shows gradual pickup from nutraceuticals and personal care sectors supporting procurement.
• Exporters will maintain disciplined offers; the Vitamin B5 Price Index stabilises as inventories gradually normalize.
• Port operations and inland logistics remained smooth, supporting shipments and preventing upward pressure on prices.
Why did the price of Vitamin B5 change in September 2025 in APAC?
• Persistent oversupply from uninterrupted production and entrants reduced urgency, driving lower export offers in September.
• Stable feedstock and transport costs limited input-driven increases, smooth logistics prevented price spikes in September.
• Muted downstream procurement from pharmaceuticals, nutraceuticals and personal care, with conservative buyer strategies, suppressed demand.
Europe
• In Germany, the Vitamin B5 Price Index fell by 3.96% quarter-over-quarter, driven by export offers.
• The average Vitamin B5 price for the quarter was approximately USD 6303.33/MT, amid subdued demand.
• Vitamin B5 Spot Price weakened as the Price Index trended lower amid competitive export offers.
• Vitamin B5 Price Forecast indicates gradual stabilization supported by moderate seasonal procurement and importer buying.
• Vitamin B5 Production Cost Trend remained flat with no feedstock disruption and stable operating rates.
• Vitamin B5 Demand Outlook remains subdued as pharmaceuticals and personal care replenish cautiously this quarter.
• High German inventories pressured the Vitamin B5 Price Index, limiting supplier ability to push increases.
• Operational continuity at major exporters maintained volumes while muted export demand kept market tone bearish.
Why did the price of Vitamin B5 change in September 2025 in Europe?
• Soft export offers and new market entrants increased availability, exerting downward pressure on import prices.
• Downstream buyers drew from inventories and delayed procurement, reducing spot demand and weakening price momentum.
• Stable feedstock costs and efficient logistics prevented cost-driven hikes, keeping production costs and offers unchanged.
For the Quarter Ending June 2025
North America
• In June 2025, the Vitamin B5 Spot Price (CFR New York) stood at USD 6660/MT and registered a marginal monthly drop of 0.15%. This reflected abundant global supply, flat domestic consumption trends and heightened supplier competition.
• Why did the price change in July 2025?
The Vitamin B5 Spot Price in North America experienced a slight decline in July 2025. This was due to persistently competitive offers from new overseas suppliers with tepid demand across pharmaceuticals, nutraceuticals and food & beverage sectors. The buyers continued a restrained procurement approach and prioritized inventory drawdowns over fresh imports, which weighed down pricing momentum.
• During Q2 2025, the Vitamin B5 Price Index followed a declining-to-stable trend, with a sharp 9.85% drop in April, a 1.21% rebound in May, and a flat tone in June. This volatile pattern was influenced by US trade sanctions, low seasonal demand and price competition from Asian exporters.
• The Vitamin B5 Demand Outlook in Q2 remained modest. Pharmaceutical and supplement manufacturers operated on a need-based purchasing cycle, limiting inventory buildup. Buyers deferred large volumes into Q3, awaiting clearer market direction.
• There were no reported disruptions in Vitamin B5 import logistics. Production remained stable at source regions, especially China, and new suppliers entered the market, pressuring legacy exporters to lower offer levels.
• US importers adopted conservative buying strategies, focusing on stock rationalization. This cautious sentiment contributed to limited spot activity, reinforcing the downward trend in the Vitamin B5 Spot Price.
• The Vitamin B5 Production Cost Trend was largely unchanged through Q2 due to steady biofermentation efficiency and uninterrupted feedstock availability. Cost savings were passed on through discounted offers, further easing the market.
• Inventories remained moderate in Q2, with no excessive accumulation. Buyers refrained from aggressive restocking due to bearish price signals and expectations of ongoing supplier competition.
• The Vitamin B5 Price Forecast for Q3 suggests further softness unless demand recovers meaningfully in wellness and pharmaceutical sectors. Competitive pricing from Asia will likely cap any upside in the near term.
Asia-Pacific
• In June 2025, the Vitamin B5 Spot Price (FOB Shanghai) stood at USD 6420/MT, down 1.68%. Ample production and moderate-to-high inventories discouraged any price resilience.
• Why did the price change in July 2025?
The Vitamin B5 Spot Price in China declined in July 2025, driven by persistent oversupply, new entrant pricing tactics, and weak international demand. Downstream sectors such as wellness beverages and skincare supplements limited offtake, amplifying bearish pressure.
• Q2 trends in China reflected a sharp 7.33% decline in April, a modest 1.24% gain in May, and another 1.68% decline in June. This volatility stemmed from demand-side inertia and production intensity.
• The Vitamin B5 Demand Outlook in Q2 was weak. Exporters faced cautious overseas buyers, while domestic sectors like pharmaceuticals and supplements limited purchases to immediate requirements.
• The supply side in China was highly stable with no logistics issues. New and existing facilities operated smoothly, ensuring that buyers had uninterrupted access to product.
• Exporters aggressively cut offers to secure volume amid limited demand. Buyers globally adopted risk-averse procurement, further depressing transactional intensity.
• The Vitamin B5 Production Cost Trend in China remained favourable with consistent biofermentation yields and no feedstock disruptions. This sustained low-cost output allowed flexible export pricing.
• Inventories across Chinese producers and traders were high in Q2. Limited pull from both domestic and overseas buyers led to a buildup that encouraged discount-driven sales behaviour.
• The Vitamin B5 Price Forecast for APAC indicates further softening unless export demand revives. New capacity additions and aggressive competition will maintain pressure on offer levels.
Europe
• The Vitamin B5 Spot Price (CFR Hamburg) settled at USD 6530/MT in June 2025, down 1.36% month-on-month. This aligned with global oversupply trends and weak transactional volumes in pharmaceuticals and supplements.
• Why did the price change in July 2025?
The Vitamin B5 Spot Price in Europe continued its downward drift in July, driven by ample supply from Asian exporters and restrained consumption across key industries. New entrants from Asia intensified pricing pressure while end-user demand remained on a just-in-time basis.
• The Vitamin B5 Price Index in Europe saw a sharp 6.8% fall in April, followed by a 1.22% rise in May, and a renewed 1.36% dip in June. Price trends mirrored external supply aggression from Asia and mixed demand dynamics.
• The Vitamin B5 Demand Outlook in Europe during Q2 was subdued, particularly in pharmaceuticals and wellness beverages. No seasonal uplift was observed, and buyers stayed cautious amid abundant inventory availability.
• Europe saw steady inflows from Asia without logistical delays. Suppliers offered aggressive discounts, attempting to sustain volumes amidst limited US-bound shipments due to tariffs.
• Importers in Germany capitalized on falling prices, procuring opportunistically. However, ongoing destocking strategies and lean inventory management limited sustained offtake.
• The Vitamin B5 Production Cost Trend remained flat, as no input-side inflation or production hurdles were noted. The lack of cost-driven constraints gave exporters flexibility in pricing.
• Inventory levels remained moderate to high across Q2, with distributors drawing down older stock. This reduced urgency to procure at current prices, leading to downward price pressure.
• The Vitamin B5 Price Forecast for Europe projects a continued soft bias, particularly as demand from nutraceuticals and functional foods remains tepid. Import pricing will remain supply-led in the short term.
For the Quarter Ending March 2025
North America
In the first quarter of 2025, the North American market for Vitamin B5 recorded an average price decline of 4.78% from previous quarter. This drop in the Vitamin B5 market came as demand from downstream sectors like pharmaceuticals and personal care remained somewhat subdued. Consumption of Vitamin B5 supplements stayed moderate during the seasonal transition from winter to spring and affected overall buying activity.
Vitamin B5 suppliers and distributors also carried over comfortable inventory levels from the previous quarter which reduced the need of immediate procurement. Procurement activity was slow and well-planned, with buyers choosing to work through existing stocks. The market also responded to tariff structures on select pharmaceutical ingredients, which indirectly shaped pricing strategies.
The smooth logistics across the region allowed steady product movement without delays and ensured Vitamin B5 market conditions to stay stable in the region. The demand for Calpan in nutraceutical and personal care applications showed no major spikes, as manufacturers scheduled production cautiously. The overall Vitamin B5 market in North America maintained a balanced tone in the first quarter of 2025, with pricing driven by regular downstream activity and controlled inventory management.
Asia Pacific
In the Asia Pacific region, the Vitamin B5 market registered a modest average price decline of 1.12% during the first quarter of 2025 in comparison to previous quarter. This slight drop was influenced by regional factors such as the Chinese Lunar New Year holidays, which traditionally slow down procurement and trading activities across Asia Pacific region. Major Vitamin B5 suppliers and distributors in China, recognized as key exporters, operated on reduced schedules during this period and subtly influenced the overall market sentiment of the entire APAC region.
Additionally, a seasonal transition from winter to spring moderated demand for Vitamin B5 supplements and nutraceutical blends. Downstream consumption stayed consistent but lacked any strong surge which kept Vitamin B5 prices soft. Most procurement specialists worked with existing inventories and adopted a cautious stance in anticipation of routine demand recovery in the following months. The logistics and product availability remained smooth across the region which allowed regular supply flow without hurdles. The overall Calpan market in APAC remained steady throughout first quarter of 2025, with downstream sectors maintaining regular production cycles and strategic purchasing.
Europe
The European market for Vitamin B5 experienced a 6.97% average price decline in the first quarter of 2025 from the concluding quarter of 2024. This fall reflected soft demand trends from pharmaceuticals, Vitamin B5 supplements and personal care segments. The distributors and buyers in the region entered the new year with well-maintained inventory positions and limited their fresh procurement activity in the early part of the quarter.
As seasonal consumption patterns stabilized after the winter period, Vitamin B5 suppliers observed slower order volumes. Production cycles in Germany operated on a measured schedule, avoiding excess product release into the market. Smooth logistics and consistent supply availability kept the Vitamin B5 market well supplied which further eased the pressure on prices. Demand from nutraceutical formulations also remained subdued, with no major promotional campaigns and product launches driving sudden interest.
Vitamin B5 distributors continued adopting cautious purchasing strategies and maintained adequate but conservative stock positions. The European Calpan market remained steady in its approach, with price changes reflecting controlled buying patterns and a balanced downstream environment throughout the first quarter of 2025.
For the Quarter Ending December 2024
North America
During Q4 2024, Vitamin B5 (D-Calpan) prices in North America, particularly in the USA, exhibited a steady downward trend of -2.15%, declining from $7890 per MT in October to $7720 per MT FOB New Jersey in December 2024. This consistent price decline stemmed from various factors. Despite initial support from pharmaceutical and nutraceutical industries' demand, prices continued to soften. US importers had built strategic stocks ahead of China's Golden Week holiday, which contributed to the bearish market sentiment. The post-holiday period saw continued price pressure as supply chains normalized, further accelerating the downward trend.
In Q4 2024, logistical challenges at Shanghai and Los Angeles ports, combined with labour disputes including the ILA strike affecting East and Gulf Coast operations, initially caused concern. However, these factors couldn't prevent the declining price trajectory. Market participants maintained routine procurement despite anticipated U.S. tariff changes, while Chinese exporters continued to offer competitive prices. December saw further price erosion as domestic suppliers implemented destocking initiatives while Chinese export prices softened, creating additional advantages for US buyers.
The market's downward momentum intensified as 2024 drew to a close. Despite the consistent price decline, underlying end-user demand remained stable throughout the quarter, particularly in pharmaceutical and nutraceutical applications. However, this steady consumption wasn't enough to offset the bearish market forces, resulting in continued price deterioration through the quarter's end.
APAC
In Q4 2024, Vitamin B5 (D-Calpan) prices in China demonstrated a persistent decline, falling from $7,180 per MT in October to $7,100 per MT FOB Shanghai in December. The quarter began with the Chinese Golden Week holiday, temporarily pausing market activities. Despite international buyers securing supplies through pre-emptive procurement, prices continued their downward trajectory. The post-holiday period saw further price erosion, even as market activity resumed given the nominal demand. Lower freight rates and improved logistics costs weren't sufficient to prevent the continued price decline.
December witnessed further price depreciation as systematic destocking initiatives were implemented across the supply chain before the Christmas. Manufacturers and suppliers actively adjusted their inventory positions ahead of the holiday season, intensifying the downward pressure. While demand fundamentals remained relatively stable, with consistent procurement patterns across both domestic and international channels, prices continued to soften. This created increasingly attractive buying opportunities as the quarter progressed.
Europe
In Q4 2024, Vitamin B5 (D-Calpan) prices negotiations in Germany maintained a steady decline. Despite initial market stability supported by proactive stocking ahead of China's Golden Week and steady consumption from pharmaceutical and nutraceutical sectors, prices continued their downward trend throughout the quarter.
The bearish sentiment persisted through November, despite stable end-user demand. German buyers benefited from the declining price trend, while merchants faced pressure on profit margins due to the consistent price erosion in the market. December saw further price weakening as European distributors actively reduced inventory levels while Chinese exporters continued to lower their prices. This created increasingly favourable buying conditions, encouraging strategic purchases from Asian suppliers. While market fundamentals remained relatively healthy with steady consumption in both pharmaceutical and nutraceutical sectors, prices continued their downward trajectory through the quarter's end.
