Japan: Honey Market 2024

Honey Market Size in Japan

The Japanese honey market declined modestly to $X in 2022, approximately equating the previous year. Overall, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.5% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Honey Production in Japan

In value terms, honey production shrank to $X in 2022 estimated in export price. Over the period under review, production enjoyed a buoyant increase. The growth pace was the most rapid in 2019 when the production volume increased by 84%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Honey Exports

Exports from Japan

After two years of growth, overseas shipments of honey decreased by -41.8% to X tons in 2022. Over the period under review, exports showed a deep downturn. The growth pace was the most rapid in 2021 with an increase of 67%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, honey exports reduced markedly to $X in 2022. Overall, exports recorded a pronounced downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 38% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X tons) was the main destination for honey exports from Japan, with a 46% share of total exports. Moreover, honey exports to Hong Kong SAR exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), threefold. Singapore (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to Hong Kong SAR totaled +6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (-12.0% per year) and Singapore (+8.3% per year).

In value terms, China ($X), Hong Kong SAR ($X) and Singapore ($X) were the largest markets for honey exported from Japan worldwide, together accounting for 70% of total exports. Taiwan (Chinese), Vietnam, Macao SAR and South Korea lagged somewhat behind, together comprising a further 17%.

Vietnam, with a CAGR of +15.8%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average honey export price amounted to $X per ton, shrinking by -3.1% against the previous year. In general, export price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, honey export price decreased by -29.8% against 2019 indices. The pace of growth appeared the most rapid in 2013 when the average export price increased by 36%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Macao SAR ($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 (+16.4%), while the prices for the other major destinations experienced more modest paces of growth.

Honey Imports

Imports into Japan

In 2022, approx. X tons of honey were imported into Japan; therefore, remained relatively stable against 2021 figures. The total import volume increased at an average annual rate of +2.5% over the period 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 2016 when imports increased by 34%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, honey imports reduced slightly to $X in 2022. Over the period under review, total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -3.5% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 34%. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest honey supplier to Japan, with a 65% share of total imports. Moreover, honey imports from China exceeded the figures recorded by the second-largest supplier, Canada (X tons), sevenfold. Argentina (X tons) ranked third in terms of total imports with a 6.6% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+9.5% per year) and Argentina (+3.4% per year).

In value terms, China ($X) constituted the largest supplier of honey to Japan, comprising 39% of total imports. The second position in the ranking was taken by Canada ($X), with a 15% share of total imports. It was followed by New Zealand, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+12.1% per year) and New Zealand (+8.7% per year).

Import Prices by Country

In 2022, the average honey import price amounted to $X per ton, dropping by -1.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The growth pace was the most rapid in 2020 when the average import price increased by 9.1% against the previous year. The import price peaked at $X per ton in 2021, and then fell modestly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for Vietnam ($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 (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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