Global Honey Market 2024

Honey Market Size

The global honey market reached $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 with an increase of 6.2% against the previous year. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the global market remained at a lower figure.

Honey Production

In value terms, honey production declined modestly to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 11%. As a result, production attained the peak level of $X. From 2017 to 2022, global production growth failed to regain momentum.

Honey Exports

Exports

In 2022, global honey exports was estimated at X tons, flattening at 2021 figures. The total export volume increased at an average annual rate of +4.3% 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 2020 when exports increased by 18% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, honey exports expanded to $X in 2022. The total export value increased at an average annual rate of +5.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when exports increased by 19% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are likely to see steady growth in the near future.

Exports by Country

In 2022, China (X tons), distantly followed by India (X tons), Argentina (X tons), Vietnam (X tons), Ukraine (X tons) and Brazil (X tons) were the main exporters of honey, together mixing up 57% of total exports. Germany (X tons), Spain (X tons), Mexico (X tons), Turkey (X tons), Hungary (X tons), New Zealand (X tons) and Poland (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Turkey (with a CAGR of +29.8%), while the other global leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), China ($X) and Argentina ($X) were the countries with the highest levels of exports in 2022, with a combined 31% share of global exports. India, Germany, Ukraine, Brazil, Spain, Mexico, Vietnam, Hungary, Poland and Turkey lagged somewhat behind, together accounting for a further 40%.

In terms of the main exporting countries, Turkey, with a CAGR of +22.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average honey export price amounted to $X per ton, growing by 3.6% against the previous year. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 13%. The global export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Vietnam ($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 (+7.5%), while the other global leaders experienced more modest paces of growth.

Honey Imports

Imports

After two years of growth, supplies from abroad of honey decreased by -0.6% to X tons in 2022. 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 throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 13% against the previous year. Global imports peaked at X tons in 2021, and then fell slightly in the following year.

In value terms, honey imports reached $X in 2022. The total import value increased at an average annual rate of +4.7% over the period 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 2021 with an increase of 17% against the previous year. Global imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

The United States represented the key importer of honey in the world, with the volume of imports amounting to X tons, which was approx. 27% of total imports in 2022. Germany (X tons) held the second position in the ranking, followed by the UK (X tons), Japan (X tons) and France (X tons). All these countries together took approx. 28% share of total imports. Spain (X tons), Poland (X tons), Italy (X tons), Saudi Arabia (X tons), Belgium (X tons), the Netherlands (X tons) and Portugal (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to honey imports into the United States stood at +3.8%. At the same time, Portugal (+23.6%), Poland (+8.3%), Italy (+5.7%), Spain (+4.7%), the UK (+4.5%), France (+3.3%), Saudi Arabia (+3.2%), the Netherlands (+3.1%) and Japan (+2.5%) displayed positive paces of growth. Moreover, Portugal emerged as the fastest-growing importer imported in the world, with a CAGR of +23.6% from 2012-2022. Germany experienced a relatively flat trend pattern. By contrast, Belgium (-1.6%) illustrated a downward trend over the same period. Belgium (-1.6 p.p.) and Germany (-5.9 p.p.) significantly weakened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported honey worldwide, comprising 27% of global imports. The second position in the ranking was taken by Germany ($X), with an 11% share of global imports. It was followed by Japan, with a 6.1% share.

In the United States, honey imports expanded at an average annual rate of +5.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+0.8% per year) and Japan (+4.8% per year).

Import Prices by Country

In 2022, the average honey import price amounted to $X per ton, growing by 4.3% against the previous year. In general, the import price showed a mild increase. The most prominent rate of growth was recorded in 2021 when the average import price increased by 15% against the previous year. Over the period under review, average import prices attained 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 destination: amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+2.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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