MENA: Honey Market 2024

Honey Market Size in MENA

In 2022, the MENA's honey market decreased by -3.4% to $X, falling for the second year in a row after five years of growth. The market value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Honey Production in MENA

In value terms, honey production declined to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 36% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Honey Exports

Exports in MENA

In 2022, overseas shipments of honey increased by 24% to X tons, rising for the third consecutive year after two years of decline. Overall, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 43% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, honey exports totaled $X in 2022. Total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +74.7% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 39% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Exports by Country

Turkey represented the main exporting country with an export of about X tons, which resulted at 60% of total exports. It was distantly followed by Saudi Arabia (X tons), Yemen (X tons), the United Arab Emirates (X tons) and Egypt (X tons), together constituting a 34% share of total exports. Oman (X tons) and Iran (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the honey exports, with a CAGR of +29.8% from 2012 to 2022. At the same time, Oman (+16.8%), Yemen (+11.0%), the United Arab Emirates (+8.5%), Egypt (+4.3%) and Iran (+1.1%) displayed positive paces of growth. By contrast, Saudi Arabia (-3.5%) illustrated a downward trend over the same period. Turkey (+48 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates, Iran, Egypt and Saudi Arabia saw its share reduced by -1.5%, -2.7%, -4.7% and -39.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest honey supplying countries in MENA were Turkey ($X), Saudi Arabia ($X) and Yemen ($X), with a combined 82% share of total exports. Egypt, the United Arab Emirates, Oman and Iran lagged somewhat behind, together accounting for a further 15%.

Oman, with a CAGR of +23.0%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, declining by -8.3% against the previous year. Over the period under review, the export price showed a perceptible curtailment. The pace of growth was the most pronounced in 2020 when the export price increased by 6.8%. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Yemen ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+5.3%), while the other leaders experienced more modest paces of growth.

Honey Imports

Imports in MENA

In 2022, approx. X tons of honey were imported in MENA; flattening at the previous year. Total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.4% 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 -7.7% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 32% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, honey imports amounted to $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.8% 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 -8.6% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 43%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) represented the major importer of honey, constituting 44% of total imports. The United Arab Emirates (X tons) held the second position in the ranking, distantly followed by Morocco (X tons), Oman (X tons) and Kuwait (X tons). All these countries together took approx. 35% share of total imports. Yemen (X tons), Qatar (X tons), Israel (X tons), Jordan (X tons), Libya (X tons) and Algeria (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to honey imports into Saudi Arabia stood at +3.2%. At the same time, the United Arab Emirates (+12.9%), Qatar (+12.0%), Oman (+8.4%), Kuwait (+7.8%), Yemen (+7.3%), Morocco (+6.9%), Algeria (+2.9%), Jordan (+2.8%) and Israel (+1.6%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of +12.9% from 2012-2022. Libya experienced a relatively flat trend pattern. While the share of the United Arab Emirates (+9 p.p.) and Qatar (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Saudi Arabia (-10.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest honey importing markets in MENA were Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X), together accounting for 73% of total imports. Oman, Qatar, Morocco, Yemen, Israel, Jordan, Algeria and Libya lagged somewhat behind, together comprising a further 22%.

Yemen, with a CAGR of +17.2%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, surging by 5.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2020 when the import price increased by 8.2%. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per ton), while Morocco ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Yemen (+9.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform