Middle East: Honey Market 2024

Honey Market Size in the Middle East

In 2022, the Middle Eastern honey market decreased by -2.4% to $X, falling for the second consecutive year after five years of growth. Over the period under review, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Honey Production in the Middle East

In value terms, honey production fell to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 8.7% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Honey Exports

Exports in the Middle East

In 2022, shipments abroad of honey increased by 24% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, exports enjoyed a remarkable increase. The growth pace was the most rapid in 2017 when exports increased by 55%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, honey exports expanded markedly to $X in 2022. Total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.9% 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 +78.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 41%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Exports by Country

In 2022, Turkey (X tons) represented the main exporter of honey, generating 64% of total exports. Saudi Arabia (X tons) took a 14% share (based on physical terms) of total exports, which put it in second place, followed by Yemen (8.4%) and the United Arab Emirates (7%). 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%) and Iran (+1.1%) displayed positive paces of growth. By contrast, Saudi Arabia (-3.5%) illustrated a downward trend over the same period. Turkey (+50 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates, Iran and Saudi Arabia saw its share reduced by -2.1%, -3.1% and -44.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), Saudi Arabia ($X) and Yemen ($X) constituted the countries with the highest levels of exports in 2022, together comprising 89% of total exports. The United Arab Emirates, Oman and Iran lagged somewhat behind, together comprising a further 8.7%.

Among the main exporting countries, Oman, with a CAGR of +23.0%, saw the highest growth rate of the value of exports, 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 the Middle East amounted to $X per ton, reducing by -8.2% against the previous year. Over the period under review, the export price showed a pronounced decline. The most prominent rate of growth was recorded in 2016 when the export price increased by 12%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 the Middle East

In 2022, approx. X tons of honey were imported in the Middle East; growing by 3.7% against the year before. Total imports indicated strong growth 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 -7.4% against 2020 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 33% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, honey imports expanded significantly to $X in 2022. Total imports indicated a strong increase 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 -8.8% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 45%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Saudi Arabia represented the key importer of honey in the Middle East, with the volume of imports amounting to X tons, which was near 50% of total imports in 2022. The United Arab Emirates (X tons) ranks second in terms of the total imports with a 20% share, followed by Oman (6.2%) and Kuwait (5.3%). The following importers - Yemen (X tons), Qatar (X tons) and Israel (X tons) - each recorded a 12% 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%) and Israel (+1.6%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +12.9% from 2012-2022. The United Arab Emirates (+10 p.p.), Qatar (+1.8 p.p.) and Oman (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Israel and Saudi Arabia saw its share reduced by -1.6% and -11.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest honey importing markets in the Middle East were Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X), with a combined 78% share of total imports. Oman, Qatar, Yemen and Israel lagged somewhat behind, together accounting for a further 15%.

Among the main importing countries, Yemen, with a CAGR of +17.2%, saw 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

In 2022, the import price in the Middle East amounted to $X per ton, surging by 4.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2020 an increase of 9.2% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the import prices failed to regain momentum.

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

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