Asia: Manuka Market 2023

Manuka Market Size in Asia

In 2022, the Asian manuka market decreased by -2% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Manuka Production in Asia

In value terms, manuka production stood at $X in 2022 estimated in export price. The total production indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.8% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 47% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Manuka Exports

Exports in Asia

In 2022, overseas shipments of manuka increased by 8.8% to X tons, rising for the third consecutive year after two years of decline. Total exports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +37.2% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 21%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, manuka exports surged to $X in 2022. The total export value increased at an average annual rate of +5.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 21%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the near future.

Exports by Country

China was the main exporter of manuka in Asia, with the volume of exports reaching X tons, which was near 44% of total exports in 2022. India (X tons) took the second position in the ranking, distantly followed by Vietnam (X tons) and Turkey (X tons). All these countries together took approx. 46% share of total exports. Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +29.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest manuka supplying countries in Asia were China ($X), India ($X) and Vietnam ($X), together comprising 80% of total exports. Turkey and Thailand lagged somewhat behind, together comprising a further 9.5%.

In terms of the main exporting countries, Turkey, with a CAGR of +22.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, rising by 6.2% against the previous year. Overall, the export price, however, saw a slight decline. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+1.1%), while the other leaders experienced mixed trends in the export price figures.

Manuka Imports

Imports in Asia

Manuka imports reached X tons in 2022, approximately reflecting the previous year. The total import volume increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 18% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, manuka imports fell to $X in 2022. Total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -3.4% against 2020 indices. The growth pace was the most rapid in 2020 when imports increased by 24%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Japan was the key importing country with an import of about X tons, which amounted to 37% of total imports. Saudi Arabia (X tons) held an 18% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (7.1%) and Indonesia (5.2%). The following importers - Taiwan (Chinese) (X tons), Malaysia (X tons), China (X tons), Hong Kong SAR (X tons), Singapore (X tons), Thailand (X tons), Oman (X tons), Kuwait (X tons) and Yemen (X tons) - together made up 22% of total imports.

From 2012 to 2022, average annual rates of growth with regard to manuka imports into Japan stood at +2.5%. At the same time, the United Arab Emirates (+12.9%), Indonesia (+11.3%), Oman (+8.4%), Kuwait (+7.8%), Yemen (+7.3%), Taiwan (Chinese) (+5.5%), Saudi Arabia (+3.2%), Singapore (+3.0%), Malaysia (+2.5%) and China (+1.0%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in Asia, with a CAGR of +12.9% from 2012-2022. By contrast, Hong Kong SAR (-1.8%) and Thailand (-7.6%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+4.2 p.p.) and Indonesia (+2.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Hong Kong SAR (-1.8 p.p.), Japan (-3.3 p.p.) and Thailand (-4.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest manuka importing markets in Asia were Japan ($X), Saudi Arabia ($X) and China ($X), with a combined 57% share of total imports. The United Arab Emirates, Indonesia, Singapore, Kuwait, Hong Kong SAR, Malaysia, Taiwan (Chinese), Oman, Yemen and Thailand lagged somewhat behind, together accounting for a further 32%.

Among the main importing countries, Yemen, with a CAGR of +17.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, falling by -4.3% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2017 an increase of 10% against the previous year. The level of import peaked at $X per ton in 2021, and then contracted slightly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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