SADC: Vanilla Market 2023

Vanilla Market Size in SADC

In 2022, the SADC vanilla market increased by 11% to $X, rising for the second consecutive year after three years of decline. The total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +21.0% against 2020 indices. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Vanilla Production in SADC

In value terms, vanilla production fell to $X in 2022 estimated in export price. Over the period under review, production, however, posted a notable increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 39% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Madagascar (X tons) constituted the country with the largest volume of vanilla production, accounting for 93% of total volume. Moreover, vanilla production in Madagascar exceeded the figures recorded by the second-largest producer, South Africa (X tons), more than tenfold.

In Madagascar, vanilla production contracted by an average annual rate of -3.6% over the period from 2012-2022.

Vanilla Exports

Exports in SADC

Vanilla exports declined to X tons in 2022, dropping by -6.2% compared with the previous year's figure. Overall, exports continue to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 20%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, vanilla exports contracted to $X in 2022. In general, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 85% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Madagascar dominates exports structure, reaching X tons, which was near 93% of total exports in 2022. The following exporters - South Africa (X tons) and Mauritius (X tons) - together made up 5.7% of total exports.

From 2012 to 2022, average annual rates of growth with regard to vanilla exports from Madagascar stood at -3.7%. At the same time, Mauritius (+10.5%) and South Africa (+7.0%) displayed positive paces of growth. Moreover, Mauritius emerged as the fastest-growing exporter exported in SADC, with a CAGR of +10.5% from 2012-2022. While the share of South Africa (+2.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Madagascar (-2.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Madagascar ($X) remains the largest vanilla supplier in SADC, comprising 96% of total exports. The second position in the ranking was held by Mauritius ($X), with a 2.2% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Madagascar amounted to +20.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Mauritius (+37.1% per year) and South Africa (+4.7% per year).

Export Prices by Country

The export price in SADC stood at $X per ton in 2022, falling by -2.9% against the previous year. Over the period under review, the export price, however, recorded a significant increase. The pace of growth was the most pronounced in 2016 when the export price increased by 99%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mauritius ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Madagascar (+25.1%), while the other leaders experienced mixed trends in the export price figures.

Vanilla Imports

Imports in SADC

In 2022, approx. X tons of vanilla were imported in SADC; reducing by -11.8% compared with the previous year's figure. Over the period under review, imports, however, continue to indicate a measured increase. The most prominent rate of growth was recorded in 2014 with an increase of 100% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, vanilla imports rose remarkably to $X in 2022. In general, imports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 235%. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Mauritius (X tons) was the major importer of vanilla, committing 41% of total imports. Madagascar (X tons) ranks second in terms of the total imports with an 18% share, followed by Seychelles (16%), Tanzania (9.2%) and South Africa (7.4%). The following importers - Zambia (X tons) and Angola (X tons) - each finished at a 4.8% share of total imports.

Imports into Mauritius increased at an average annual rate of +7.6% from 2012 to 2022. At the same time, Zambia (+58.7%), Tanzania (+48.7%) and Seychelles (+6.8%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing importer imported in SADC, with a CAGR of +58.7% from 2012-2022. Madagascar experienced a relatively flat trend pattern. By contrast, Angola (-2.4%) and South Africa (-7.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mauritius, Tanzania, Seychelles and Zambia increased by +15, +9.2, +5.2 and +2.5 percentage points, respectively.

In value terms, Mauritius ($X) constitutes the largest market for imported vanilla in SADC, comprising 62% of total imports. The second position in the ranking was taken by Madagascar ($X), with a 28% share of total imports. It was followed by South Africa, with an 8.9% share.

In Mauritius, vanilla imports expanded at an average annual rate of +32.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Madagascar (+31.1% per year) and South Africa (+11.3% per year).

Import Prices by Country

In 2022, the import price in SADC amounted to $X per ton, with an increase of 30% against the previous year. In general, the import price continues to indicate a significant increase. The pace of growth was the most pronounced in 2016 an increase of 198% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Madagascar (+30.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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