Northern America: Honey Market 2024

Honey Market Size in Northern America

In 2022, the North American honey market increased by 11% to $X, rising for the second consecutive year after three years of decline. The market value increased at an average annual rate of +3.8% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Honey Production in Northern America

In value terms, honey production fell to $X in 2022 estimated in export price. In general, production, however, continues to indicate a slight decrease. The pace of growth was the most pronounced in 2014 when the production volume increased by 17%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Honey Exports

Exports in Northern America

In 2022, shipments abroad of honey was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Overall, exports, however, recorded a mild decrease. The pace of growth was the most pronounced in 2016 when exports increased by 37% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, honey exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Canada (X tons) and the United States (X tons) represented roughly 99.9% of total exports in 2022.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the United States (with a CAGR of +5.8%).

In value terms, Canada ($X) and the United States ($X) appeared to be the countries with the highest levels of exports in 2022.

The United States, with a CAGR of +4.9%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, growing by 5.6% against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by 16%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+2.5%).

Honey Imports

Imports in Northern America

In 2022, supplies from abroad of honey decreased by -5.2% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +4.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when imports increased by 22% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then dropped in the following year.

In value terms, honey imports soared to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +75.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 48% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

The United States dominates imports structure, resulting at X tons, which was near 95% of total imports in 2022. It was distantly followed by Canada (X tons), generating a 4.9% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to honey imports into the United States stood at +3.8%. At the same time, Canada (+12.5%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +12.5% from 2012-2022. While the share of Canada (+2.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United States (-2.6 p.p.) displayed negative dynamics.

In value terms, the United States ($X) constitutes the largest market for imported honey in Northern America, comprising 93% of total imports. The second position in the ranking was taken by Canada ($X), with a 7.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +5.5%.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, picking up by 25% against the previous year. Import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, honey import price increased by +65.1% against 2020 indices. The growth pace was the most rapid in 2021 when the import price increased by 32% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+1.6%).

Source: IndexBox Platform

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