Eastern Europe: Honey Market 2024

Honey Market Size in Eastern Europe

In 2022, the East European honey market increased by 3.9% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, recorded a pronounced decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Honey Production in Eastern Europe

In value terms, honey production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, showed a perceptible descent. The most prominent rate of growth was recorded in 2017 when the production volume increased by 21%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Honey Exports

Exports in Eastern Europe

In 2022, shipments abroad of honey decreased by -13.9% to X tons, falling for the second consecutive year after two years of growth. Total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -27.6% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 39% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, honey exports declined to $X in 2022. Total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +24.1% against 2019 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 42%. Over the period under review, the exports reached the maximum at $X in 2021, and then dropped in the following year.

Exports by Country

Ukraine represented the largest exporting country with an export of about X tons, which recorded 41% of total exports. Hungary (X tons) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by Poland (13%), Bulgaria (11%) and Romania (10%). The following exporters - Slovakia (X tons) and Moldova (X tons) - each amounted to a 5.9% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to honey exports from Ukraine stood at +13.7%. At the same time, Slovakia (+22.8%), Moldova (+16.5%), Poland (+9.2%) and Bulgaria (+3.2%) displayed positive paces of growth. Moreover, Slovakia emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +22.8% from 2012-2022. Romania and Hungary experienced a relatively flat trend pattern. From 2012 to 2022, the share of Ukraine, Poland, Slovakia and Moldova increased by +19, +2.5, +2.3 and +1.7 percentage points, respectively.

In value terms, Ukraine ($X), Hungary ($X) and Poland ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 65% of total exports. Romania, Bulgaria, Slovakia and Moldova lagged somewhat behind, together accounting for a further 30%.

In terms of the main exporting countries, Slovakia, with a CAGR of +21.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, growing by 4.4% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 35%. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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 Slovakia ($X per ton), while Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+2.0%), while the other leaders experienced more modest paces of growth.

Honey Imports

Imports in Eastern Europe

In 2022, supplies from abroad of honey decreased by -11.2% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, showed a strong increase. The growth pace was the most rapid in 2013 with an increase of 39%. Over the period under review, imports reached the maximum at X tons in 2021, and then contracted in the following year.

In value terms, honey imports dropped to $X in 2022. In general, imports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2021 with an increase of 34%. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

Poland was the major importer of honey in Eastern Europe, with the volume of imports recording X tons, which was near 56% of total imports in 2022. The Czech Republic (X tons) took the second position in the ranking, followed by Romania (X tons), Bulgaria (X tons), Slovakia (X tons) and Hungary (X tons). All these countries together held near 38% share of total imports. Lithuania (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to honey imports into Poland stood at +8.3%. At the same time, Bulgaria (+23.1%), Hungary (+21.4%), Lithuania (+13.4%), Romania (+11.3%), the Czech Republic (+10.3%) and Slovakia (+3.2%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +23.1% from 2012-2022. Bulgaria (+6.6 p.p.), Hungary (+3.2 p.p.), Romania (+2.4 p.p.), the Czech Republic (+2 p.p.) and Poland (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Slovakia saw its share reduced by -2.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) constitutes the largest market for imported honey in Eastern Europe, comprising 49% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a 14% share of total imports. It was followed by Romania, with a 10% share.

From 2012 to 2022, the average annual growth rate of value in Poland stood at +7.6%. The remaining importing countries recorded the following average annual rates of imports growth: the Czech Republic (+10.8% per year) and Romania (+11.1% per year).

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, dropping by -2.6% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 16% 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.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+0.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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