Australia and Oceania: Vanilla Market 2024

Vanilla Market Size in Australia and Oceania

In 2022, the vanilla market in Australia and Oceania was finally on the rise to reach $X after three years of decline. In general, consumption, however, saw a deep downturn. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Vanilla Production in Australia and Oceania

In value terms, vanilla production expanded remarkably to $X in 2022 estimated in export price. Over the period under review, production posted a moderate increase. The pace of growth appeared the most rapid in 2016 when the production volume increased by 38%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Papua New Guinea (X tons) constituted the country with the largest volume of vanilla production, comprising approx. 80% of total volume. Moreover, vanilla production in Papua New Guinea exceeded the figures recorded by the second-largest producer, Australia (X tons), eightfold. Tonga (X tons) ranked third in terms of total production with a 3.7% share.

In Papua New Guinea, vanilla production increased at an average annual rate of +2.5% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Australia (+3.2% per year) and Tonga (-1.6% per year).

Vanilla Exports

Exports in Australia and Oceania

In 2022, exports of vanilla in Australia and Oceania rose slightly to X tons, with an increase of 4.2% compared with 2021 figures. Over the period under review, exports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2014 with an increase of 37%. The volume of export peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, vanilla exports rose rapidly to $X in 2022. In general, exports saw a strong expansion. The growth pace was the most rapid in 2016 when exports increased by 110%. 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

Papua New Guinea was the main exporter of vanilla in Australia and Oceania, with the volume of exports resulting at X tons, which was near 75% of total exports in 2022. Australia (X tons) held the second position in the ranking, distantly followed by New Zealand (X tons). All these countries together held near 23% share of total exports. French Polynesia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to vanilla exports from Papua New Guinea stood at +20.1%. At the same time, New Zealand (+25.6%) and Australia (+3.0%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of +25.6% from 2012-2022. By contrast, French Polynesia (-9.9%) illustrated a downward trend over the same period. Papua New Guinea (+37 p.p.) and New Zealand (+3.2 p.p.) significantly strengthened its position in terms of the total exports, while French Polynesia and Australia saw its share reduced by -15% and -24.8% from 2012 to 2022, respectively.

In value terms, Papua New Guinea ($X) remains the largest vanilla supplier in Australia and Oceania, comprising 78% of total exports. The second position in the ranking was taken by French Polynesia ($X), with a 13% share of total exports. It was followed by Australia, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Papua New Guinea totaled +32.6%. The remaining exporting countries recorded the following average annual rates of exports growth: French Polynesia (+7.9% per year) and Australia (+5.0% per year).

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, with an increase of 9.3% against the previous year. Overall, the export price recorded a prominent expansion. The most prominent rate of growth was recorded in 2016 when the export price increased by 64%. The level of export peaked at $X per ton in 2018; however, from 2019 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 French Polynesia ($X per ton), while New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by French Polynesia (+19.8%), while the other leaders experienced more modest paces of growth.

Vanilla Imports

Imports in Australia and Oceania

In 2022, overseas purchases of vanilla decreased by -26.3% to X tons, falling for the third year in a row after two years of growth. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 185% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, vanilla imports reduced to $X in 2022. In general, imports, however, posted a prominent expansion. The pace of growth was the most pronounced in 2018 when imports increased by 134%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Australia was the major importing country with an import of about X tons, which reached 54% of total imports. Samoa (X tons) took a 27% share (based on physical terms) of total imports, which put it in second place, followed by New Zealand (6.4%). The following importers - Micronesia (X tons), Palau (X tons), New Caledonia (X tons) and Papua New Guinea (X tons) - together made up 10% of total imports.

Australia experienced a relatively flat trend pattern with regard to volume of imports of vanilla. At the same time, Palau (+54.2%), New Caledonia (+24.6%), Samoa (+15.7%) and Micronesia (+9.1%) displayed positive paces of growth. Moreover, Palau emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +54.2% from 2012-2022. By contrast, New Zealand (-2.1%) and Papua New Guinea (-22.1%) illustrated a downward trend over the same period. Samoa (+20 p.p.), Micronesia (+3.8 p.p.), Palau (+2.7 p.p.) and New Caledonia (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while New Zealand, Australia and Papua New Guinea saw its share reduced by -2.2%, -8.2% and -18.6% from 2012 to 2022, respectively.

In value terms, Australia ($X) constitutes the largest market for imported vanilla in Australia and Oceania, comprising 85% of total imports. The second position in the ranking was held by New Zealand ($X), with an 11% share of total imports. It was followed by Micronesia, with a 1.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia stood at +12.8%. In the other countries, the average annual rates were as follows: New Zealand (+11.9% per year) and Micronesia (+7.8% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, picking up by 29% against the previous year. Overall, the import price saw strong growth. The pace of growth appeared the most rapid in 2016 an increase of 142%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the import prices remained at a somewhat lower figure.

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 New Zealand ($X per ton), while Palau ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Papua New Guinea (+21.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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