SADC: Vanilla Market 2024

Vanilla Market Size in SADC

In 2022, the SADC vanilla market increased by 11% to $X, rising for the second year in a row after three years of decline. The total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +21.0% against 2020 indices. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Vanilla Production in SADC

In value terms, vanilla production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a notable expansion. The most prominent rate of growth was recorded in 2017 with an increase of 39%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Madagascar (X tons) constituted the country with the largest volume of vanilla production, accounting for 93% of total volume. Moreover, vanilla production in Madagascar exceeded the figures recorded by the second-largest producer, South Africa (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume in Madagascar totaled -3.6%.

Vanilla Exports

Exports in SADC

In 2022, the amount of vanilla exported in SADC reduced to X tons, which is down by -6.2% against 2021 figures. Overall, exports showed a perceptible setback. The growth pace was the most rapid in 2021 when exports increased by 20% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, vanilla exports fell to $X in 2022. Over the period under review, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 85% against the previous year. 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

Madagascar dominates exports structure, recording X tons, which was approx. 93% of total exports in 2022. South Africa (X tons) and Mauritius (X tons) followed a long way behind the leaders.

Exports from Madagascar decreased at an average annual rate of -3.7% from 2012 to 2022. At the same time, Mauritius (+10.5%) and South Africa (+7.0%) displayed positive paces of growth. Moreover, Mauritius emerged as the fastest-growing exporter exported in SADC, with a CAGR of +10.5% from 2012-2022. While the share of South Africa (+2.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Madagascar (-2.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Madagascar ($X) remains the largest vanilla supplier in SADC, comprising 96% of total exports. The second position in the ranking was taken by Mauritius ($X), with a 2.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Madagascar stood at +20.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Mauritius (+37.1% per year) and South Africa (+4.7% per year).

Export Prices by Country

The export price in SADC stood at $X per ton in 2022, which is down by -2.9% against the previous year. In general, the export price, however, saw a significant increase. The most prominent rate of growth was recorded in 2016 an increase of 99%. Over the period under review, the export prices hit record highs 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 Mauritius ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Madagascar (+25.1%), while the other leaders experienced mixed trends in the export price figures.

Vanilla Imports

Imports in SADC

In 2022, approx. X tons of vanilla were imported in SADC; dropping by -11.8% against the previous year. In general, imports, however, recorded moderate growth. The pace of growth was the most pronounced in 2014 with an increase of 100%. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, vanilla imports stood at $X in 2022. Over the period under review, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 235% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

Mauritius was the major importing country with an import of about X tons, which recorded 41% of total imports. Madagascar (X tons) held an 18% share (based on physical terms) of total imports, which put it in second place, followed by Seychelles (16%), Tanzania (9.2%) and South Africa (7.4%). The following importers - Zambia (X tons) and Angola (X tons) - each accounted for a 4.8% share of total imports.

Imports into Mauritius increased at an average annual rate of +7.6% from 2012 to 2022. At the same time, Zambia (+58.7%), Tanzania (+48.7%) and Seychelles (+6.8%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing importer imported in SADC, with a CAGR of +58.7% from 2012-2022. Madagascar experienced a relatively flat trend pattern. By contrast, Angola (-2.4%) and South Africa (-7.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mauritius, Tanzania, Seychelles and Zambia increased by +15, +9.2, +5.2 and +2.5 percentage points, respectively.

In value terms, Mauritius ($X) constitutes the largest market for imported vanilla in SADC, comprising 62% of total imports. The second position in the ranking was taken by Madagascar ($X), with a 28% share of total imports. It was followed by South Africa, with an 8.9% share.

In Mauritius, vanilla imports increased at an average annual rate of +32.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Madagascar (+31.1% per year) and South Africa (+11.3% per year).

Import Prices by Country

In 2022, the import price in SADC amounted to $X per ton, surging by 30% against the previous year. Over the period under review, the import price enjoyed significant growth. The growth pace was the most rapid in 2016 when the import price increased by 198% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 Madagascar ($X per ton), while Seychelles ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Madagascar (+30.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform