Africa: Honey Market 2024

Honey Market Size in Africa

In 2022, after two years of growth, there was decline in the African honey market, when its value decreased by -3.6% to $X. Over the period under review, consumption, however, recorded a slight curtailment. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Honey Production in Africa

In value terms, honey production fell to $X in 2022 estimated in export price. In general, production recorded a noticeable downturn. The pace of growth was the most pronounced in 2017 when the production volume increased by 29%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Honey Exports

Exports in Africa

In 2022, approx. X tons of honey were exported in Africa; falling by -11.3% compared with the previous year's figure. Over the period under review, exports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 48% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced in the following year.

In value terms, honey exports fell to $X in 2022. In general, exports, however, recorded significant growth. The growth pace was the most rapid in 2015 when exports increased by 69% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then fell in the following year.

Exports by Country

Sierra Leone represented the key exporter of honey in Africa, with the volume of exports reaching X tons, which was near 55% of total exports in 2022. It was distantly followed by Egypt (X tons), Zambia (X tons) and Tanzania (X tons), together making up a 33% share of total exports. South Africa (X tons) took a relatively small share of total exports.

Sierra Leone was also the fastest-growing in terms of the honey exports, with a CAGR of +43.0% from 2012 to 2022. At the same time, Zambia (+7.7%), Tanzania (+6.3%), Egypt (+4.3%) and South Africa (+2.2%) displayed positive paces of growth. While the share of Sierra Leone (+51 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Tanzania (-3 p.p.), Zambia (-3.3 p.p.), South Africa (-5.6 p.p.) and Egypt (-15.5 p.p.) displayed negative dynamics.

In value terms, Sierra Leone ($X) remains the largest honey supplier in Africa, comprising 80% of total exports. The second position in the ranking was held by Egypt ($X), with a 9.3% share of total exports. It was followed by Zambia, with a 3.1% share.

In Sierra Leone, honey exports expanded at an average annual rate of +44.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Egypt (+7.9% per year) and Zambia (+6.8% per year).

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, with an increase of 4.9% against the previous year. Overall, the export price saw resilient growth. The pace of growth appeared the most rapid in 2015 an increase of 56% against the previous year. Over the period under review, the export prices attained the peak figure in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sierra Leone ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+9.9%), while the other leaders experienced more modest paces of growth.

Honey Imports

Imports in Africa

For the fifth year in a row, Africa recorded growth in supplies from abroad of honey, which increased by 15% to X tons in 2022. Over the period under review, imports enjoyed a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of 39% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, honey imports dropped to $X in 2022. Overall, imports posted buoyant growth. The most prominent rate of growth was recorded in 2016 when imports increased by 41% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then shrank in the following year.

Imports by Country

Nigeria represented the largest importing country with an import of around X tons, which amounted to 47% of total imports. Morocco (X tons) took the second position in the ranking, followed by South Africa (X tons) and Rwanda (X tons). All these countries together held near 28% share of total imports. The following importers - Libya (X tons), Algeria (X tons), Mauritius (X tons), Tunisia (X tons), Kenya (X tons) and Somalia (X tons) - together made up 16% of total imports.

Nigeria was also the fastest-growing in terms of the honey imports, with a CAGR of +60.7% from 2012 to 2022. At the same time, Somalia (+30.0%), Mauritius (+11.1%), Kenya (+9.7%), Morocco (+6.9%), Tunisia (+6.8%) and Algeria (+2.9%) displayed positive paces of growth. Libya and South Africa experienced a relatively flat trend pattern. By contrast, Rwanda (-8.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria increased by +47 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Morocco ($X), Nigeria ($X) and Algeria ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 47% of total imports.

Nigeria, with a CAGR of +48.4%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Africa stood at $X per ton in 2022, dropping by -23.8% against the previous year. In general, the import price saw a noticeable reduction. The pace of growth appeared the most rapid in 2013 when the import price increased by 21% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Somalia ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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