Luxembourg: Honey Market 2024

Honey Market Size in Luxembourg

The Luxembourg honey market surged to $X in 2022, rising by 18% against the previous year. In general, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.8% 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 -20.5% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Honey Production in Luxembourg

In value terms, honey production shrank to $X in 2022 estimated in export price. In general, production continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 66% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Honey Exports

Exports from Luxembourg

After four years of growth, shipments abroad of honey decreased by -14.6% to X tons in 2022. Over the period under review, exports, however, continue to indicate a resilient increase. The growth pace was the most rapid in 2014 when exports increased by 53%. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped in the following year.

In value terms, honey exports reduced to $X in 2022. Overall, total exports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 28%. Over the period under review, the exports attained the maximum at $X in 2021, and then declined in the following year.

Exports by Country

Belgium (X tons) was the main destination for honey exports from Luxembourg, accounting for a 71% share of total exports. Moreover, honey exports to Belgium exceeded the volume sent to the second major destination, France (X tons), fourfold. Germany (X kg) ranked third in terms of total exports with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belgium amounted to +10.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+10.1% per year) and Germany (+8.0% per year).

In value terms, Belgium ($X) remains the key foreign market for honey exports from Luxembourg, comprising 64% of total exports. The second position in the ranking was held by France ($X), with a 22% share of total exports. It was followed by Germany, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to Belgium amounted to +8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+9.8% per year) and Germany (+12.2% per year).

Export Prices by Country

In 2022, the average honey export price amounted to $X per ton, increasing by 1.6% against the previous year. In general, the export price, however, saw a mild setback. The pace of growth was the most pronounced in 2017 when the average export price increased by 46%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Hungary ($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 Germany (+3.9%), while the prices for the other major destinations experienced a decline.

Honey Imports

Imports into Luxembourg

In 2022, purchases abroad of honey decreased by -2.3% to X tons, falling for the second consecutive year after five years of growth. Over the period under review, total imports indicated notable growth from 2012 to 2022: its volume 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. Based on 2022 figures, imports decreased by -8.3% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 19% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, honey imports shrank to $X in 2022. The total import value increased at an average annual rate of +3.5% 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 2017 when imports increased by 24% against the previous year. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Belgium (X tons), Germany (X tons) and France (X tons) were the main suppliers of honey imports to Luxembourg, together comprising 82% of total imports. The United States, Austria and Spain lagged somewhat behind, together accounting for a further 8.5%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +106.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and Belgium ($X) constituted the largest honey suppliers to Luxembourg, with a combined 76% share of total imports. The United States, Austria and Spain lagged somewhat behind, together accounting for a further 9.4%.

Among the main suppliers, Austria, with a CAGR of +100.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average honey import price stood at $X per ton in 2022, falling by -2.5% against the previous year. In general, the import price continues to indicate a slight decrease. The pace of growth appeared the most rapid in 2013 when the average import price increased by 5.9% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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