Asia-Pacific: Manuka Market 2024

Manuka Market Size in Asia-Pacific

In 2022, the Asia-Pacific manuka market decreased by -2.9% to $X, falling for the second year in a row after three years of growth. The total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -10.8% against 2020 indices. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Manuka Production in Asia-Pacific

In value terms, manuka production stood at $X in 2022 estimated in export price. The total production indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% 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 -1.4% against 2020 indices. The pace of growth was the most pronounced in 2016 with an increase of 55%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Manuka Exports

Exports in Asia-Pacific

For the fourth year in a row, Asia-Pacific recorded growth in shipments abroad of manuka, which increased by 8.6% to X tons in 2022. Total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +6.3% 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 +58.4% against 2016 indices. The most prominent rate of growth was recorded in 2013 with an increase of 20% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, manuka exports surged to $X in 2022. Total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.7% 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 +52.0% against 2019 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 25%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, China (X tons) was the main exporter of manuka, committing 45% of total exports. India (X tons) held a 25% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (17%) and New Zealand (4.5%). Thailand (X tons) and Australia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +13.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), China ($X) and India ($X) were the countries with the highest levels of exports in 2022, together accounting for 83% of total exports.

Among the main exporting countries, India, with a CAGR of +14.4%, recorded 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-Pacific amounted to $X per ton, increasing by 7.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The level of export peaked at $X per ton in 2016; however, from 2017 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 New Zealand ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+7.5%), while the other leaders experienced more modest paces of growth.

Manuka Imports

Imports in Asia-Pacific

In 2022, overseas purchases of manuka decreased by -0.3% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2014 when imports increased by 19% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, manuka imports reduced to $X in 2022. Total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 23% against the previous year. The level of import peaked at $X in 2021, and then shrank in the following year.

Imports by Country

Japan prevails in imports structure, resulting at X tons, which was near 53% of total imports in 2022. Australia (X tons) took an 8.8% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (7.5%). Taiwan (Chinese) (X tons), Malaysia (X tons), China (X tons), Hong Kong SAR (X tons), Singapore (X tons), Thailand (X tons) and Nepal (X tons) followed a long way behind the leaders.

Imports into Japan increased at an average annual rate of +2.5% from 2012 to 2022. At the same time, Nepal (+23.2%), Indonesia (+11.3%), Australia (+6.5%), Taiwan (Chinese) (+5.5%), Singapore (+3.0%), Malaysia (+2.5%) and China (+1.0%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +23.2% 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 Indonesia (+4.1 p.p.) and Australia (+2.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Hong Kong SAR (-2.1 p.p.) and Thailand (-5.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported manuka in Asia-Pacific, comprising 40% of total imports. The second position in the ranking was taken by China ($X), with a 17% share of total imports. It was followed by Australia, with a 9.7% share.

From 2012 to 2022, the average annual growth rate of value in Japan stood at +4.8%. The remaining importing countries recorded the following average annual rates of imports growth: China (+10.5% per year) and Australia (+8.0% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, reducing by -6.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The pace of growth appeared the most rapid in 2017 when the import price increased by 12%. Over the period under review, import prices hit record highs at $X per ton in 2021, and then contracted in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while Nepal ($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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