Key insights into the global pyrethrum and peppermint market
Indexbox - May 6th, 14:30
The global pyrethrum and peppermint market revenue amounted to $3.6B in 2017 (IndexBox estimates), growing by 4.9% against the previous year.
The global pyrethrum and peppermint market revenue amounted to $3.6B in 2017 (IndexBox estimates), growing by 4.9% 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, pyrethrum and peppermint consumption continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2008, with an increase of 28% against the previous year. Global pyrethrum and peppermint consumption peaked in 2017 and is likely to see steady growth in the near future.
The amount of pyrethrum and peppermint consumed worldwide stood at 846K tonnes, coming up by 4.5% against the previous year. The total consumption volume increased an average annual rate of +3.3% over the period from 2007 to 2017; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2012 when consumption increased by 15% year-to-year. Global pyrethrum and peppermint consumption peaked in 2017 and is likely to see steady growth in the near future.
Consumption by Country
The countries with the highest volumes of pyrethrum and peppermint consumption were China (123K tonnes), Egypt (92K tonnes) and Morocco (75K tonnes), together comprising 34% of global consumption. The U.S., Germany, Mexico, Japan, Taiwan, Chinese, South Korea, Kazakhstan, Viet Nam and China, Hong Kong SAR lagged somewhat behind, together accounting for a further 32%.
From 2007 to 2017, the most notable rate of growth in terms of pyrethrum and peppermint consumption, amongst the main consuming countries, was attained by Kazakhstan (+36.4% per year), while the other global leaders experienced more modest paces of growth.
Market Forecast to 2025
Driven by increasing demand for pyrethrum and peppermint worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.9% for the eight-year period from 2017 to 2025, which is projected to bring the market volume to 987K tonnes by the end of 2025.
Global Production by Country
In 2017, approx. 808K tonnes of pyrethrum and peppermint were produced worldwide; approximately mirroring the previous year. The total output volume increased an average annual rate of +1.1% from 2007 to 2017; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period.
China (243K tonnes) remains the largest pyrethrum and peppermint producing country worldwide, comprising approx. 30% of total production. Moreover, pyrethrum and peppermint production in China exceeded the figures recorded by the world's second largest producer, Egypt (107K tonnes), twofold. Morocco (92K tonnes) ranked third in terms of total production with an 11% share.
In China, pyrethrum and peppermint production remained relatively stable over the period from 2007-2017. The remaining producing countries recorded the following average annual rates of production growth: Egypt (+2.1% per year) and Morocco (+3.3% per year).
Imports from 2007–2017
In 2017, the global imports of pyrethrum and peppermint totaled 649K tonnes, surging by 4.4% against the previous year. The total import volume increased an average annual rate of +2.0% over the last decade.
The U.S. (73K tonnes) and Germany (67K tonnes) represented the major importers of pyrethrum and peppermint in the globe, together mixed up 22% of total imports. China (32K tonnes) took the third position in the ranking, followed by Taiwan, Chinese (31K tonnes), India (30K tonnes), Mexico (30K tonnes) and Japan (29K tonnes). All these countries together occupied near 24% share of total imports. The following importers - China, Hong Kong SAR (27K tonnes), South Korea (24K tonnes), Viet Nam (22K tonnes) and Spain (22K tonnes) together made up 15% of total imports.
From 2007 to 2017, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Mexico (+9.6% per year), while the other global leaders experienced more modest paces of growth.
Zimbabwe's farmers smell the tea and coffee
14/06/2019 - 09:50
Farmers in Zimbabwe’s Eastern Highlands are smelling the tea and coffee.
SA's first citrus shipment arrives in China
13/06/2019 - 15:39
The historic shipment of 5 200 tons of citrus in a breakbulk vessel has arrived at Shanghai Port in the People’s Republic of China.
SA import growth to be restrained by weak domestic activity
07/06/2019 - 08:45
South Africa’s current account deficit deteriorated by R32.3 billion to R142.5bn in the first quarter of 2019 compared with a deficit of R110.2bn in the fourth quarter of 2018.
There's no truth to importers' threats about 'expensive' chicken
05/06/2019 - 08:58
Don't rely on the chicken importers for the facts. In a massive public relations exercise to turn opinion against higher import tariffs, they have relied on assertion, misdirection, misinformation, and bluster. Facts are few and far between.
SA recorded surprise trade deficit in April
03/06/2019 - 11:03
SA recorded a surprise trade deficit of R3.43bn in April, despite expectations of a slight surplus.