Scandinavia: Manuka Market 2024

Manuka Market Size in Scandinavia

The Scandinavia manuka market was estimated at $X in 2022, stabilizing at the previous year. The total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 +3.4% against 2020 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Manuka Production in Scandinavia

In value terms, manuka production contracted to $X in 2022 estimated in export price. The total production indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.1% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 38% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Manuka Exports

Exports in Scandinavia

In 2022, shipments abroad of manuka decreased by -6.2% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, continue to indicate resilient growth. The growth pace was the most rapid in 2019 with an increase of 153% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped in the following year.

In value terms, manuka exports declined to $X in 2022. Over the period under review, exports, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2019 with an increase of 88%. The level of export peaked at $X in 2021, and then fell modestly in the following year.

Exports by Country

Sweden represented the key exporter of manuka in Scandinavia, with the volume of exports recording X tons, which was near 68% of total exports in 2022. It was distantly followed by Norway (X tons), constituting a 30% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to manuka exports from Sweden stood at +14.0%. At the same time, Norway (+162.5%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +162.5% from 2012-2022. While the share of Norway (+30 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Sweden (-27.3 p.p.) displayed negative dynamics.

In value terms, Sweden ($X) remains the largest manuka supplier in Scandinavia, comprising 68% of total exports. The second position in the ranking was held by Norway ($X), with a 29% share of total exports.

In Sweden, manuka exports expanded at an average annual rate of +11.6% over the period from 2012-2022.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2022, with an increase of 4% against the previous year. Over the period under review, the export price, however, showed a perceptible slump. The growth pace was the most rapid in 2018 when the export price increased by 30%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Norway stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (-2.1%).

Manuka Imports

Imports in Scandinavia

After two years of decline, purchases abroad of manuka increased by 3% to X tons in 2022. The total import volume increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by 17%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, manuka imports stood at $X in 2022. The total import value increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when imports increased by 18%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Sweden represented the major importer of manuka in Scandinavia, with the volume of imports finishing at X tons, which was near 59% of total imports in 2022. It was distantly followed by Finland (X tons) and Norway (X tons), together making up a 41% share of total imports.

Sweden experienced a relatively flat trend pattern with regard to volume of imports of manuka. At the same time, Norway (+5.7%) and Finland (+3.6%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +5.7% from 2012-2022. Norway (+4.8 p.p.) and Finland (+3.2 p.p.) significantly strengthened its position in terms of the total imports, while Sweden saw its share reduced by -8% from 2012 to 2022, respectively.

In value terms, Sweden ($X) constitutes the largest market for imported manuka in Scandinavia, comprising 55% of total imports. The second position in the ranking was held by Finland ($X), with a 24% share of total imports.

In Sweden, manuka imports expanded at an average annual rate of +1.4% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Finland (+2.8% per year) and Norway (+8.7% per year).

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per ton, waning by -1.9% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the import price increased by 7.6%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+2.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform