Eastern Asia: Manuka Market 2024

Manuka Market Size in Eastern Asia

In 2022, the East Asian manuka market decreased by -1.5% to $X, falling for the second consecutive year after two years of growth. The total consumption indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.2% 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 -4.1% against 2020 indices. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Manuka Production in Eastern Asia

In value terms, manuka production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, posted a moderate increase. The growth pace was the most rapid in 2016 when the production volume increased by 83% against the previous year. 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 Eastern Asia

In 2022, shipments abroad of manuka increased by 6.2% to X tons, rising for the third year in a row after two years of decline. The total export 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 growth pace was the most rapid in 2017 with an increase of 17% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, manuka exports rose sharply to $X in 2022. The total export value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 15% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) represented roughly 99% of total exports in 2022.

China was also the fastest-growing in terms of the manuka exports, with a CAGR of +3.5% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest manuka supplier in Eastern Asia.

In China, manuka exports expanded at an average annual rate of +2.6% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, flattening at the previous year. In general, the export price showed a mild descent. The pace of growth appeared the most rapid in 2016 when the export price increased by 24% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -0.9% per year.

Manuka Imports

Imports in Eastern Asia

In 2022, purchases abroad of manuka decreased by -0.4% to X tons, falling for the second year in a row after two years of growth. The total import volume increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 25%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, manuka imports contracted to $X in 2022. Total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 21% against the previous year. The level of import peaked at $X in 2021, and then contracted in the following year.

Imports by Country

Japan prevails in imports structure, resulting at X tons, which was approx. 79% of total imports in 2022. Taiwan (Chinese) (X tons) ranks second in terms of the total imports with a 6.5% share, followed by China (6.3%) and Hong Kong SAR (5.7%). South Korea (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, South Korea (+5.9%), Taiwan (Chinese) (+5.5%) and China (+1.0%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +5.9% from 2012-2022. By contrast, Hong Kong SAR (-1.8%) illustrated a downward trend over the same period. While the share of Taiwan (Chinese) (+1.7 p.p.) and Japan (+1.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Hong Kong SAR (-2.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported manuka in Eastern Asia, comprising 59% of total imports. The second position in the ranking was held by China ($X), with a 25% share of total imports. It was followed by Hong Kong SAR, with a 6.5% share.

In Japan, manuka imports expanded at an average annual rate of +4.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: China (+10.5% per year) and Hong Kong SAR (-3.3% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, shrinking by -11% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. The pace of growth appeared the most rapid in 2017 when the import price increased by 16% against the previous year. The level of import peaked at $X per ton in 2021, and then reduced 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 ($X per ton), while Taiwan (Chinese) ($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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