Canada: Honey Market 2024

Honey Market Size in Canada

In 2022, the Canadian honey market decreased by -5% to $X for the first time since 2016, thus ending a five-year rising trend. In general, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 +55.3% against 2016 indices. Honey consumption peaked at $X in 2021, and then reduced in the following year.

Honey Production in Canada

In value terms, honey production expanded modestly to $X in 2022 estimated in export price. In general, production saw a slight shrinkage. The most prominent rate of growth was recorded in 2014 when the production volume increased by 13% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Honey Exports

Exports from Canada

After four years of decline, overseas shipments of honey increased by 48% to X tons in 2022. Overall, exports, however, recorded a pronounced curtailment. The growth pace was the most rapid in 2016 when exports increased by 50% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, honey exports soared to $X in 2022. Over the period under review, exports, however, recorded a perceptible shrinkage. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons), Japan (X tons) and China (X tons) were the main destinations of honey exports from Canada, together accounting for 96% 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 Japan (with a CAGR of +9.2%), while the other leaders experienced a decline.

In value terms, the United States ($X), Japan ($X) and China ($X) appeared to be the largest markets for honey exported from Canada worldwide, with a combined 96% share of total exports.

Among the main countries of destination, Japan, with a CAGR of +10.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average honey export price stood at $X per ton in 2022, growing by 6.4% against the previous year. Overall, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, honey export price increased by +69.9% against 2016 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 28% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to the United States ($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 (+2.6%), while the prices for the other major destinations experienced mixed trend patterns.

Honey Imports

Imports into Canada

In 2022, purchases abroad of honey increased by 29% to X tons, rising for the sixth consecutive year after two years of decline. Over the period under review, imports continue to indicate a strong increase. The growth pace was the most rapid in 2018 when imports increased by 127% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, honey imports surged to $X in 2022. Overall, imports saw a remarkable increase. The pace of growth was the most pronounced in 2013 with an increase of 69%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Brazil (X tons) constituted the largest honey supplier to Canada, with a 37% share of total imports. Moreover, honey imports from Brazil exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was taken by India (X tons), with a 9.3% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil amounted to +22.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+14.5% per year) and India (+26.6% per year).

In value terms, New Zealand ($X), Brazil ($X) and the United States ($X) constituted the largest honey suppliers to Canada, with a combined 63% share of total imports. Australia, India, Spain, Thailand, Ukraine, Greece, Saudi Arabia, Argentina, Turkey and Vietnam lagged somewhat behind, together comprising a further 33%.

Thailand, with a CAGR of +266.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average honey import price amounted to $X per ton, growing by 17% against the previous year. Over the period under review, the import price posted a modest increase. The most prominent rate of growth was recorded in 2015 an increase of 195%. 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.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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