New Zealand: Honey Market 2024

Honey Market Size in New Zealand

In 2022, the New Zealand honey market decreased by -10.6% to $X, falling for the third consecutive year after two years of growth. Over the period under review, consumption, however, continues to indicate a significant expansion. Honey consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Honey Production in New Zealand

In value terms, honey production stood at $X in 2022 estimated in export price. In general, production posted a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 109% against the previous year. Honey production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Honey Exports

Exports from New Zealand

In 2022, the amount of honey exported from New Zealand surged to X tons, growing by 28% against the year before. Over the period under review, total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +6.1% 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 +61.3% against 2017 indices. The most prominent rate of growth was recorded in 2020 with an increase of 51%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, honey exports skyrocketed to $X in 2022. In general, exports enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2020 with an increase of 42% 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.

Exports by Country

The United States (X tons), the UK (X tons) and China (X tons) were the main destinations of honey exports from New Zealand, together comprising 50% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +21.8%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and the UK ($X) constituted the largest markets for honey exported from New Zealand worldwide, with a combined 47% share of total exports.

Among the main countries of destination, the United States, with a CAGR of +27.9%, recorded 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

The average honey export price stood at $X per ton in 2022, declining by -7.6% against the previous year. In general, export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +7.5% 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 -18.2% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 24%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Australia ($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 (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Honey Imports

Imports into New Zealand

In 2022, approx. X tons of honey were imported into New Zealand; reducing by -41.4% against 2021 figures. Over the period under review, imports showed a abrupt contraction. The pace of growth was the most pronounced in 2015 with an increase of 74%. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, honey imports contracted sharply to $X in 2022. Overall, imports saw a perceptible decrease. The most prominent rate of growth was recorded in 2015 when imports increased by 101%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Australia (X tons) constituted the largest honey supplier to New Zealand, accounting for a 70% share of total imports. Moreover, honey imports from Australia exceeded the figures recorded by the second-largest supplier, Niue (X tons), fivefold. The third position in this ranking was taken by China (X kg), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Australia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Niue (-20.0% per year) and China (+163.4% per year).

In value terms, Australia ($X) constituted the largest supplier of honey to New Zealand, comprising 68% of total imports. The second position in the ranking was held by Niue ($X), with an 11% share of total imports. It was followed by Pitcairn Islands, with a 9% share.

From 2012 to 2022, the average annual growth rate of value from Australia amounted to +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Niue (-12.3% per year) and Pitcairn Islands (-16.4% per year).

Import Prices by Country

In 2022, the average honey import price amounted to $X per ton, falling by -9% against the previous year. Overall, the import price, however, continues to indicate resilient growth. The most prominent rate of growth was recorded in 2019 an increase of 142% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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 Pitcairn Islands ($X per ton), while the price for Niue ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niue (+9.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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