GCC: Manuka Market 2024

Manuka Market Size in GCC

The GCC manuka market expanded notably to $X in 2022, growing by 9.2% against the previous year. In general, consumption posted a strong expansion. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Manuka Production in GCC

In value terms, manuka production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, posted resilient growth. The pace of growth appeared the most rapid in 2015 with an increase of 47% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Manuka Exports

Exports in GCC

In 2022, after two years of growth, there was significant decline in overseas shipments of manuka, when their volume decreased by -16.4% to X tons. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 102% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then shrank sharply in the following year.

In value terms, manuka exports declined to $X in 2022. In general, exports continue to indicate a slight slump. The growth pace was the most rapid in 2020 with an increase of 65%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia was the main exporter of manuka in GCC, with the volume of exports reaching X tons, which was approx. 57% of total exports in 2022. The United Arab Emirates (X tons) held the second position in the ranking, distantly followed by Oman (X tons). All these countries together took approx. 41% share of total exports.

Exports from Saudi Arabia decreased at an average annual rate of -3.5% from 2012 to 2022. At the same time, Oman (+16.8%) and the United Arab Emirates (+8.2%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +16.8% from 2012-2022. From 2012 to 2022, the share of the United Arab Emirates and Oman increased by +15 and +11 percentage points, respectively.

In value terms, Saudi Arabia ($X) remains the largest manuka supplier in GCC, comprising 75% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with an 11% share of total exports.

In Saudi Arabia, manuka exports declined by an average annual rate of -3.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+9.7% per year) and Oman (+23.0% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, increasing by 12% against the previous year. In general, the export price, however, showed a mild curtailment. The most prominent rate of growth was recorded in 2015 when the export price increased by 19%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+5.3%), while the other leaders experienced more modest paces of growth.

Manuka Imports

Imports in GCC

In 2022, approx. X tons of manuka were imported in GCC; surging by 2.5% against 2021. Total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -4.2% against 2020 indices. The pace of growth was the most pronounced in 2020 when imports increased by 27%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, manuka imports stood at $X in 2022. Overall, imports continue to indicate strong growth. The pace of growth appeared the most rapid in 2020 when imports increased by 44% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Saudi Arabia (X tons) was the largest importer of manuka, creating 57% of total imports. It was distantly followed by the United Arab Emirates (X tons), Oman (X tons), Kuwait (X tons) and Qatar (X tons), together achieving a 41% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to manuka imports into Saudi Arabia stood at +3.2%. At the same time, the United Arab Emirates (+12.9%), Qatar (+12.0%), Oman (+8.4%) and Kuwait (+7.8%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in GCC, with a CAGR of +12.9% from 2012-2022. While the share of the United Arab Emirates (+11 p.p.), Qatar (+2 p.p.) and Oman (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Saudi Arabia (-16.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest manuka importing markets in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X), with a combined 88% share of total imports.

In terms of the main importing countries, Kuwait, with a CAGR of +13.8%, saw the highest rates of growth with regard to the value of imports, 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 GCC amounted to $X per ton, with an increase of 4.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2020 an increase of 13% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 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 Kuwait ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform