Report Update Nov 1, 2024

Bangladesh - Honey - Market Analysis, Forecast, Size, Trends and Insights

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Bangladesh: Honey Market 2024

Honey Market Size in Bangladesh

The Bangladeshi honey market rose notably to $X in 2022, increasing by 10% 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 enjoyed a strong increase. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Honey Exports

Exports from Bangladesh

In 2022, shipments abroad of honey was finally on the rise to reach X tons after two years of decline. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 401% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, honey exports shrank to $X in 2022. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 226% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then fell in the following year.

Exports by Country

India (X tons) was the main destination for honey exports from Bangladesh, with a 73% share of total exports. Moreover, honey exports to India exceeded the volume sent to the second major destination, Japan (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to India totaled +10.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-15.2% per year) and the United States (-65.6% per year).

In value terms, India ($X), Japan ($X) and the United States ($X) constituted the largest markets for honey exported from Bangladesh worldwide, with a combined 100% share of total exports.

India, with a CAGR of +13.9%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average honey export price amounted to $X per ton, shrinking by -9.3% against the previous year. Overall, the export price showed a pronounced curtailment. The pace of growth appeared the most rapid in 2017 an increase of 48% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+19.3%), while the prices for the other major destinations experienced more modest paces of growth.

Honey Imports

Imports into Bangladesh

In 2022, approx. X tons of honey were imported into Bangladesh; picking up by 15% against the year before. Over the period under review, imports saw a prominent expansion. The pace of growth was the most pronounced in 2014 with an increase of 116%. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, honey imports expanded rapidly to $X in 2022. Overall, imports saw a prominent expansion. The pace of growth appeared the most rapid in 2014 with an increase of 137%. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) was the main honey supplier to Bangladesh, with a approx. 92% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from India amounted to +13.1%.

In value terms, India ($X) constituted the largest supplier of honey to Bangladesh.

From 2012 to 2022, the average annual growth rate of value from India stood at +15.9%.

Import Prices by Country

The average honey import price stood at $X per ton in 2022, declining by -7.5% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2013 an increase of 19%. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +2.5% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for honey in the world?

The countries with the highest volumes of honey consumption in 2021 were China, the United States and Turkey, with a combined 42% share of global consumption. Iran, Germany, Russia, the UK, Japan, France, Canada, Poland, Spain and Mexico lagged somewhat behind, together comprising a further 26%.

What are the largest producers of honey in the world?

The country with the largest volume of honey production was China, comprising approx. 25% of total volume. Moreover, honey production in China exceeded the figures recorded by the second-largest producer, Turkey, fourfold. The third position in this ranking was occupied by Ukraine, with a 4.4% share.

What are the leading suppliers of honey to Bangladesh?

In value terms, India constituted the largest supplier of honey to Bangladesh, comprising 92% of total imports. The second position in the ranking was occupied by New Zealand, with a 3.8% share of total imports.

What are the leading importers of honey from Bangladesh?

In value terms, Japan remains the key foreign market for honey exports from Bangladesh.

What is the average export price for honey in Bangladesh?

The average honey export price stood at $2,163 per ton in 2021, approximately reflecting the previous year.

What is the average import price for honey in Bangladesh?

In 2021, the average honey import price amounted to $2,254 per ton, approximately reflecting the previous year.

This report provides an in-depth analysis of the honey market in Bangladesh. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 1182 - Honey

Country coverage:

Bangladesh

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Bangladesh
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023