Denmark: Honey Market 2024

Honey Market Size in Denmark

The Danish honey market shrank dramatically to $X in 2022, which is down by -42.9% against the previous year. Over the period under review, consumption saw a pronounced decrease. As a result, consumption attained the peak level of $X, and then shrank markedly in the following year.

Honey Production in Denmark

In value terms, honey production dropped to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 6.2% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Honey Exports

Exports from Denmark

In 2022, shipments abroad of honey decreased by -14.5% to X tons, falling for the second year in a row after two years of growth. The total export volume increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when exports increased by 12% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, honey exports declined to $X in 2022. The total export value increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2014 when exports increased by 9.2% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden (X tons) was the main destination for honey exports from Denmark, with a 55% share of total exports. Moreover, honey exports to Sweden exceeded the volume sent to the second major destination, Finland (X tons), threefold. Germany (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden totaled +2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+1.6% per year) and Germany (-2.3% per year).

In value terms, Sweden ($X) remains the key foreign market for honey exports from Denmark, comprising 56% of total exports. The second position in the ranking was held by Finland ($X), with a 17% share of total exports. It was followed by Germany, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden totaled +3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+1.4% per year) and Germany (-4.6% per year).

Export Prices by Country

In 2022, the average honey export price amounted to $X per ton, growing by 4.8% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 7.2%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to Germany ($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 Iceland (+3.8%), while the prices for the other major destinations experienced more modest paces of growth.

Honey Imports

Imports into Denmark

Honey imports into Denmark dropped markedly to X tons in 2022, shrinking by -37.1% against 2021 figures. Overall, imports showed a noticeable setback. The most prominent rate of growth was recorded in 2014 with an increase of 16% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, honey imports fell markedly to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 61%. As a result, imports reached the peak of $X, and then dropped significantly in the following year.

Imports by Country

Ukraine (X tons), Germany (X tons) and Bulgaria (X tons) were the main suppliers of honey imports to Denmark, together comprising 54% of total imports. Romania, Belgium, Brazil, Uruguay, Spain, Hungary, Sweden, Poland, Argentina and the Netherlands lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Uruguay (with a CAGR of +63.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Ukraine ($X) and Bulgaria ($X) were the largest honey suppliers to Denmark, together accounting for 51% of total imports. Romania, Belgium, Brazil, Uruguay, Spain, Hungary, Sweden, Poland, the Netherlands and Argentina lagged somewhat behind, together accounting for a further 44%.

In terms of the main suppliers, Uruguay, with a CAGR of +81.7%, recorded the highest growth rate of the value of imports, 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, waning by -2.4% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 40%. As a result, import price attained the peak level of $X per ton, and then declined modestly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uruguay (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :