ASEAN: Manuka Market 2024

Manuka Market Size in ASEAN

In 2022, after four years of growth, there was decline in the ASEAN manuka market, when its value decreased by -2.6% to $X. The total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.0% 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 +47.8% against 2017 indices. Over the period under review, the market reached the maximum level at $X in 2021, and then dropped modestly in the following year.

Manuka Production in ASEAN

In value terms, manuka production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 when the production volume increased by 18%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Manuka Exports

Exports in ASEAN

In 2022, after two years of growth, there was decline in overseas shipments of manuka, when their volume decreased by -3.3% to X tons. Total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +7.9% 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 +40.4% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 44% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then dropped in the following year.

In value terms, manuka exports shrank to $X in 2022. Total exports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.5% 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 +41.8% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of 45%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Vietnam (X tons) was the major exporter of manuka, making up 80% of total exports. It was distantly followed by Thailand (X tons), creating a 15% share of total exports. Myanmar (X tons) followed a long way behind the leaders.

Vietnam was also the fastest-growing in terms of the manuka exports, with a CAGR of +10.6% from 2012 to 2022. At the same time, Myanmar (+9.4%) and Thailand (+2.1%) displayed positive paces of growth. While the share of Vietnam (+17 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (-11.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest manuka supplier in ASEAN, comprising 73% of total exports. The second position in the ranking was held by Thailand ($X), with a 20% share of total exports.

In Vietnam, manuka exports increased at an average annual rate of +4.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+3.1% per year) and Myanmar (+1.7% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, reducing by -7.1% against the previous year. Overall, the export price saw a pronounced slump. The most prominent rate of growth was recorded in 2021 an increase of 23%. Over the period under review, the export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Vietnam ($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 a decline in the export price figures.

Manuka Imports

Imports in ASEAN

In 2022, supplies from abroad of manuka decreased by -2.3% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, posted a slight expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 37%. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, manuka imports dropped slightly to $X in 2022. Total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.5% against 2016 indices. The most prominent rate of growth was recorded in 2020 with an increase of 30% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then fell in the following year.

Imports by Country

Indonesia represented the main importer of manuka in ASEAN, with the volume of imports accounting for X tons, which was near 38% of total imports in 2022. It was distantly followed by Malaysia (X tons), Singapore (X tons) and Thailand (X tons), together achieving a 55% share of total imports. The Philippines (X tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +11.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Singapore ($X) and Malaysia ($X) were the countries with the highest levels of imports in 2022, with a combined 88% share of total imports.

Indonesia, with a CAGR of +13.9%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, with an increase of 1.8% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The growth pace was the most rapid in 2016 an increase of 46% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the 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 Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform