India: Manuka Market 2024

Manuka Market Size in India

In 2022, the Indian manuka market decreased by -19.6% to $X, falling for the second year in a row after two years of growth. Overall, consumption saw a deep reduction. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Manuka Production in India

In value terms, manuka production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2014 when the production volume increased by 16% against the previous year. Manuka production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Manuka Exports

Exports from India

Manuka exports from India surged to X tons in 2022, increasing by 22% compared with 2021 figures. Over the period under review, exports saw a remarkable increase. The most prominent rate of growth was recorded in 2015 when exports increased by 51% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, manuka exports soared to $X in 2022. Overall, exports recorded a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for manuka exports from India, with a 82% share of total exports. Moreover, manuka exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +12.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+35.8% per year) and Saudi Arabia (+5.1% per year).

In value terms, the United States ($X) remains the key foreign market for manuka exports from India, comprising 87% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 4.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +14.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+28.7% per year) and Saudi Arabia (+2.6% per year).

Export Prices by Country

The average manuka export price stood at $X per ton in 2022, increasing by 37% against the previous year. Overall, the export price saw a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+1.6%), while the prices for the other major destinations experienced a decline.

Manuka Imports

Imports into India

In 2022, purchases abroad of manuka increased by 87% to X tons, rising for the second year in a row after two years of decline. In general, imports, however, continue to indicate a slight contraction. The pace of growth was the most pronounced in 2017 with an increase of 108% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, manuka imports soared to $X in 2022. Over the period under review, imports saw temperate growth. The pace of growth appeared the most rapid in 2017 with an increase of 119% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Bangladesh (X tons) constituted the largest manuka supplier to India, with a 35% share of total imports. Moreover, manuka imports from Bangladesh exceeded the figures recorded by the second-largest supplier, Spain (X tons), twofold. The United States (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from Bangladesh totaled +27.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+16.1% per year) and the United States (+5.8% per year).

In value terms, Spain ($X) constituted the largest supplier of manuka to India, comprising 41% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 19% share of total imports. It was followed by the United States, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Spain stood at +23.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (+29.1% per year) and the United States (+4.3% per year).

Import Prices by Country

In 2022, the average manuka import price amounted to $X per ton, waning by -3.2% against the previous year. In general, the import price, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2016 an increase of 109% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+81.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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