Report Update Nov 1, 2024

Hong Kong SAR, China - Honey - Market Analysis, Forecast, Size, Trends and Insights

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Hong Kong SAR, China: Honey Market 2024

Honey Market Size in Hong Kong SAR, China

In 2022, the Hong Kong honey market was finally on the rise to reach $X for the first time since 2017, thus ending a four-year declining trend. In general, consumption, however, showed a relatively flat trend pattern. Honey consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Honey Exports

Exports from Hong Kong SAR, China

Honey exports from Hong Kong SAR contracted significantly to X tons in 2022, falling by -76% compared with the previous year's figure. Over the period under review, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 183% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, honey exports fell dramatically to $X in 2022. Overall, exports saw a deep contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 151% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for honey exports from Hong Kong SAR, accounting for a 70% share of total exports. Moreover, honey exports to China exceeded the volume sent to the second major destination, Macao SAR (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume to China stood at -13.8%.

In value terms, China ($X) and Macao SAR ($X) were the largest markets for honey exported from Hong Kong SAR worldwide.

Macao SAR, with a CAGR of -1.3%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average honey export price stood at $X per ton in 2022, picking up by 24% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 40%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+9.2%), while the prices for the other major destinations experienced mixed trend patterns.

Honey Imports

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of honey increased by 13% to X tons, rising for the second year in a row after three years of decline. In general, imports, however, recorded a mild decrease. The pace of growth was the most pronounced in 2021 when imports increased by 19%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, honey imports reduced to $X in 2022. Overall, imports, however, continue to indicate a pronounced shrinkage. The pace of growth appeared the most rapid in 2013 when imports increased by 30%. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest honey supplier to Hong Kong SAR, accounting for a 57% share of total imports. Moreover, honey imports from China exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), eightfold. Australia (X tons) ranked third in terms of total imports with a 5.9% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-16.3% per year) and Australia (+0.2% per year).

In value terms, the largest honey suppliers to Hong Kong SAR were China ($X), New Zealand ($X) and Australia ($X), with a combined 67% share of total imports. Japan, Spain, Germany, the United States, Taiwan (Chinese), Thailand, France, Austria, Turkey and Singapore lagged somewhat behind, together comprising a further 27%.

Turkey, with a CAGR of +51.5%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average honey import price amounted to $X per ton, reducing by -20.6% against the previous year. Overall, the import price saw a mild contraction. The pace of growth was the most pronounced in 2013 an increase of 25%. The import price peaked at $X per ton in 2015; however, from 2016 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 New Zealand ($X per ton), while the price for Singapore ($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 (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for honey in the world?

The countries with the highest volumes of honey consumption in 2021 were China, the United States and Turkey, together comprising 42% of global consumption. These countries were followed by Iran, Germany, Russia, the UK, Japan, France, Canada, Poland, Spain and Mexico, which together accounted for a further 26%.

What are the largest producers of honey in the world?

The country with the largest volume of honey production was China, comprising approx. 25% of total volume. Moreover, honey production in China exceeded the figures recorded by the second-largest producer, Turkey, fourfold. Ukraine ranked third in terms of total production with a 4.4% share.

What are the leading suppliers of honey to Hong Kong SAR, China?

In value terms, New Zealand, China and the United States appeared to be the largest honey suppliers to Hong Kong SAR, together comprising 68% of total imports. Australia, Japan, Germany, Taiwan Chinese), Spain, Austria, Thailand, Turkey and Singapore lagged somewhat behind, together accounting for a further 25%.

What are the leading importers of honey from Hong Kong SAR, China?

In value terms, the United States emerged as the key foreign market for honey exports from Hong Kong SAR, comprising 83% of total exports. The second position in the ranking was occupied by Macao SAR, with a 7.7% share of total exports. It was followed by Switzerland, with a 6.1% share.

What is the average export price for honey in Hong Kong SAR, China?

In 2021, the average honey export price amounted to $7,806 per ton, reducing by -51.3% against the previous year.

What is the average import price for honey in Hong Kong SAR, China?

In 2021, the average honey import price amounted to $6,787 per ton, with an increase of 6.8% against the previous year.

This report provides an in-depth analysis of the honey market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 1182 - Honey

Country coverage:

Hong Kong SAR

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hong Kong SAR, China
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023