Belgium: Honey Market 2024

Honey Market Size in Belgium

The Belgian honey market surged to $X in 2022, rising by 44% 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, the total consumption indicated a strong expansion from 2012 to 2022: its value 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, consumption increased by +64.6% against 2020 indices. Honey consumption peaked in 2022 and is expected to retain growth in years to come.

Honey Exports

Exports from Belgium

In 2022, shipments abroad of honey decreased by -60.7% to X tons for the first time since 2015, thus ending a six-year rising trend. In general, exports showed a deep setback. The pace of growth appeared the most rapid in 2020 with an increase of 126% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then reduced dramatically in the following year.

In value terms, honey exports dropped dramatically to $X in 2022. Overall, exports saw a perceptible slump. The pace of growth was the most pronounced in 2020 with an increase of 101% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then shrank markedly in the following year.

Exports by Country

The Netherlands (X tons), France (X tons) and Sweden (X tons) were the main destinations of honey exports from Belgium, with a combined 81% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +15.5%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), France ($X) and Sweden ($X) appeared to be the largest markets for honey exported from Belgium worldwide, together accounting for 81% of total exports.

The Netherlands, with a CAGR of +14.3%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average honey export price amounted to $X per ton, picking up by 27% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Luxembourg ($X per ton), while the average price for exports to Poland ($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 Luxembourg (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Honey Imports

Imports into Belgium

In 2022, overseas purchases of honey decreased by -44.2% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports showed a mild curtailment. The growth pace was the most rapid in 2020 with an increase of 75%. Over the period under review, imports attained the peak figure at X tons in 2021, and then shrank markedly in the following year.

In value terms, honey imports reduced markedly to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 61% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then contracted notably in the following year.

Imports by Country

China (X tons), Ukraine (X tons) and the Netherlands (X tons) were the main suppliers of honey imports to Belgium, together comprising 57% of total imports. Vietnam, Germany, Mexico, Argentina, Spain and Chile lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +45.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest honey suppliers to Belgium were Ukraine ($X), China ($X) and the Netherlands ($X), together comprising 48% of total imports. Mexico, Germany, Argentina, Vietnam, Spain and Chile lagged somewhat behind, together comprising a further 29%.

Vietnam, with a CAGR of +45.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average honey import price stood at $X per ton in 2022, surging by 16% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Chile ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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