South-Eastern Asia: Manuka Market 2024

Manuka Market Size in South-Eastern Asia

In 2022, after four years of growth, there was decline in the Southeast Asian manuka market, when its value decreased by -2.6% to $X. The total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +2.8% 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 +46.8% against 2017 indices. The level of consumption peaked at $X in 2021, and then shrank slightly in the following year.

Manuka Production in South-Eastern Asia

In value terms, manuka production reduced to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 18%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Manuka Exports

Exports in South-Eastern Asia

After two years of growth, shipments abroad of manuka decreased by -3.3% to X tons in 2022. Total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +7.9% 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 +40.4% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 44% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then contracted slightly in the following year.

In value terms, manuka exports reduced to $X in 2022. Total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.5% 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 +41.7% against 2019 indices. The growth pace was the most rapid in 2014 when exports increased by 45% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Vietnam was the major exporting country with an export of about X tons, which reached 80% of total exports. It was distantly followed by Thailand (X tons), constituting a 15% share of total exports. Myanmar (X tons) followed a long way behind the leaders.

Vietnam was also the fastest-growing in terms of the manuka exports, with a CAGR of +10.6% from 2012 to 2022. At the same time, Myanmar (+9.4%) and Thailand (+2.1%) displayed positive paces of growth. While the share of Vietnam (+17 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (-11.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest manuka supplier in South-Eastern Asia, comprising 73% of total exports. The second position in the ranking was taken by Thailand ($X), with a 20% share of total exports.

In Vietnam, manuka exports increased at an average annual rate of +4.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+3.1% per year) and Myanmar (+1.7% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, shrinking by -7.1% against the previous year. Overall, the export price showed a pronounced decline. The pace of growth appeared the most rapid in 2021 when the export price increased by 23% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+1.1%), while the other leaders experienced a decline in the export price figures.

Manuka Imports

Imports in South-Eastern Asia

In 2022, supplies from abroad of manuka decreased by -2.3% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, continue to indicate a mild expansion. The pace of growth was the most pronounced in 2014 when imports increased by 37%. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, manuka imports declined to $X in 2022. Total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.5% against 2016 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 30%. The level of import peaked at $X in 2021, and then shrank modestly in the following year.

Imports by Country

Indonesia represented the major importing country with an import of about X tons, which finished at 38% of total imports. Malaysia (X tons) ranks second in terms of the total imports with a 21% share, followed by Singapore (18%) and Thailand (16%). The Philippines (X tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +11.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest manuka importing markets in South-Eastern Asia were Indonesia ($X), Singapore ($X) and Malaysia ($X), with a combined 88% share of total imports.

Among the main importing countries, Indonesia, with a CAGR of +13.9%, recorded 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 South-Eastern Asia amounted to $X per ton, growing by 1.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The pace of growth was the most pronounced in 2016 an increase of 46%. As a result, import price attained the peak level of $X per ton. From 2017 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 Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :