Guatemala: Honey Market 2024

Honey Market Size in Guatemala

In 2022, the Guatemalan honey market decreased by -4% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, the total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Honey consumption peaked at $X in 2021, and then declined modestly in the following year.

Honey Production in Guatemala

In value terms, honey production expanded slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 41% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Honey Exports

Exports from Guatemala

In 2022, exports of honey from Guatemala expanded sharply to X tons, growing by 13% against 2021. In general, exports, however, showed a perceptible setback. The most prominent rate of growth was recorded in 2013 when exports increased by 31%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, honey exports soared to $X in 2022. Overall, exports, however, saw a slight curtailment. The growth pace was the most rapid in 2015 with an increase of 42%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for honey exports from Guatemala, with a 43% share of total exports. Moreover, honey exports to Germany exceeded the volume sent to the second major destination, Switzerland (X tons), threefold. The third position in this ranking was taken by Costa Rica (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany stood at -3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+11.3% per year) and Costa Rica (+23.0% per year).

In value terms, Germany ($X) remains the key foreign market for honey exports from Guatemala, comprising 45% of total exports. The second position in the ranking was held by Switzerland ($X), with a 14% share of total exports. It was followed by Costa Rica, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+14.2% per year) and Costa Rica (+27.0% per year).

Export Prices by Country

In 2022, the average honey export price amounted to $X per ton, growing by 6.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. 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 at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to the United States ($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 Costa Rica (+3.2%), while the prices for the other major destinations experienced more modest paces of growth.

Honey Imports

Imports into Guatemala

For the third consecutive year, Guatemala recorded decline in overseas purchases of honey, which decreased by -15.4% to X kg in 2022. Overall, imports continue to indicate a sharp reduction. The most prominent rate of growth was recorded in 2015 with an increase of 1,357% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, honey imports skyrocketed to $X in 2022. In general, imports showed a drastic downturn. The pace of growth appeared the most rapid in 2015 when imports increased by 2,803% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Spain (X kg), the United States (X kg) and Italy (X kg) were the main suppliers of honey imports to Guatemala.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +23.2%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest honey suppliers to Guatemala were Italy ($X), Spain ($X) and the United States ($X).

Italy, with a CAGR of +21.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average honey import price stood at $X per ton in 2022, growing by 43% against the previous year. Overall, the import price saw significant growth. The pace of growth was the most pronounced in 2013 when the average import price increased by 293% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+16.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform