Updated Jan 14, 2023 22:20

Manuka Market in Guatemala

Market Overview
The Guatemalan manuka market reached $ in , rising by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption enjoyed a resilient increase. Manuka consumption peaked in and is expected to retain growth in the immediate term.

In value terms, manuka production rose slightly to $ in estimated in export price. In general, production enjoyed resilient growth. The most prominent rate of growth was recorded in 2008 with an increase of %. Over the period under review, production attained the peak level at $ in 2015; however, from 2016 to , production stood at a somewhat lower figure.


Consumption
For the sixth consecutive year, Guatemala recorded growth in consumption of manuka, which increased by % to tons in . Over the period under review, consumption recorded a remarkable increase. Manuka consumption peaked in and is expected to retain growth in years to come.

The revenue of the manuka market in Guatemala expanded sharply to $ in , with an increase of % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw resilient growth. Manuka consumption peaked in and is likely to see gradual growth in years to come.


Market Forecast
Driven by increasing demand for manuka in Guatemala, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Over the period under review, imports of manuka in Guatemala were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for manuka. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Guatemala remains a net exporter of manuka; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.