Latin America and the Caribbean: Manuka Market 2024

Manuka Market Size in Latin America and the Caribbean

The Latin American manuka market dropped to $X in 2022, shrinking by -10.7% against the previous year. The total consumption indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.7% 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 -27.6% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Manuka Production in Latin America and the Caribbean

In value terms, manuka production contracted slightly to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 20% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Manuka Exports

Exports in Latin America and the Caribbean

In 2022, exports of manuka in Latin America and the Caribbean reached X tons, surging by 2.1% against the previous year. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 22%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, manuka exports totaled $X in 2022. Total exports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.5% 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 +72.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 39% against the previous year. 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, Argentina (X tons) represented the largest exporter of manuka, committing 43% of total exports. Brazil (X tons) ranks second in terms of the total exports with a 22% share, followed by Mexico (16%), Cuba (8.7%) and Uruguay (6%). Chile (X tons) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +8.2%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Argentina ($X), Brazil ($X) and Mexico ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 83% share of total exports.

Among the main exporting countries, Brazil, with a CAGR of +10.2%, saw the highest rates of growth with regard to 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 Latin America and the Caribbean amounted to $X per ton, with an increase of 3.6% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2021 an increase of 39% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 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 Chile ($X per ton), while Cuba ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+2.9%), while the other leaders experienced more modest paces of growth.

Manuka Imports

Imports in Latin America and the Caribbean

In 2022, imports of manuka in Latin America and the Caribbean fell to X tons, which is down by -5.3% against 2021 figures. Over the period under review, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 47%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, manuka imports reduced to $X in 2022. In general, imports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of 41%. Over the period under review, imports reached the peak figure at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, Colombia (X tons), Costa Rica (X tons), Panama (X tons), Honduras (X tons), Barbados (X tons) and Bahamas (X tons) represented the main importer of manuka in Latin America and the Caribbean, mixing up 80% of total import. Curacao (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Panama (with a CAGR of +71.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest manuka importing markets in Latin America and the Caribbean were Colombia ($X), Panama ($X) and Costa Rica ($X), with a combined 53% share of total imports.

Among the main importing countries, Panama, with a CAGR of +73.5%, 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

The import price in Latin America and the Caribbean stood at $X per ton in 2022, shrinking by -6.4% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 18% against the previous year. As a result, import price reached the peak level of $X per ton, and then fell 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 Panama ($X per ton), while Curacao ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Honduras (+1.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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