Finland: Honey Market 2024

Honey Market Size in Finland

The Finnish honey market fell to $X in 2022, waning by -3% against the previous year. Overall, consumption, however, continues to indicate a prominent expansion. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Honey Production in Finland

In value terms, honey production contracted slightly to $X in 2022 estimated in export price. In general, production, however, posted buoyant growth. The growth pace was the most rapid in 2017 with an increase of 94%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Honey Exports

Exports from Finland

For the third year in a row, Finland recorded growth in shipments abroad of honey, which increased by 55% to X tons in 2022. Over the period under review, exports enjoyed resilient growth. The growth pace was the most rapid in 2018 when exports increased by 140% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, honey exports surged to $X in 2022. In general, exports saw strong growth. The growth pace was the most rapid in 2018 when exports increased by 180% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Estonia (X tons), Hong Kong SAR (X tons) and Japan (X kg) were the main destinations of honey exports from Finland, with a combined 84% 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 Hong Kong SAR (with a CAGR of +216.3%), while the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) emerged as the key foreign market for honey exports from Finland, comprising 42% of total exports. The second position in the ranking was held by Estonia ($X), with a 20% share of total exports. It was followed by Japan, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR totaled +203.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (-0.3% per year) and Japan (+50.0% per year).

Export Prices by Country

The average honey export price stood at $X per ton in 2022, falling by -13.9% against the previous year. Over the period under review, the export price, however, showed tangible growth. The pace of growth appeared the most rapid in 2016 an increase of 36% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Estonia ($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 China (+15.6%), while the prices for the other major destinations experienced more modest paces of growth.

Honey Imports

Imports into Finland

In 2022, imports of honey into Finland dropped slightly to X tons, declining by -2.6% against 2021 figures. The total import volume increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 when imports increased by 17%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, honey imports contracted to $X in 2022. The total import value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by 14% against the previous year. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X tons) constituted the largest honey supplier to Finland, with a 53% share of total imports. Moreover, honey imports from Germany exceeded the figures recorded by the second-largest supplier, Denmark (X tons), fivefold. Argentina (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (-7.1% per year) and Argentina (+8.0% per year).

In value terms, Germany ($X) constituted the largest supplier of honey to Finland, comprising 42% of total imports. The second position in the ranking was held by Denmark ($X), with a 12% share of total imports. It was followed by Argentina, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at +3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (-6.9% per year) and Argentina (+11.5% per year).

Import Prices by Country

The average honey import price stood at $X per ton in 2022, shrinking by -4.9% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 23%. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ukraine ($X per ton), while the price for Hungary ($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 (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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