Report Update Nov 1, 2024

Philippines - Honey - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Honey Market 2024

Honey Market Size in the Philippines

The Philippine honey market soared to $X in 2022, increasing by 38% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Honey Exports

Exports from the Philippines

In 2022, approx. X kg of honey were exported from the Philippines; with a decrease of -92.9% compared with 2021. Overall, exports faced a deep setback. The growth pace was the most rapid in 2018 with an increase of 11,241%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, honey exports declined markedly to $X in 2022. In general, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 8,753% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Singapore (X kg) was the main destination for honey exports from the Philippines, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Singapore was relatively modest.

In value terms, Singapore ($X) emerged as the key foreign market for honey exports from the Philippines.

From 2012 to 2022, the average annual growth rate of value to Singapore totaled +7.6%.

Export Prices by Country

In 2022, the average honey export price amounted to $X per ton, waning by -10.1% against the previous year. In general, the export price, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2015 an increase of 115%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Singapore.

From 2012 to 2022, the rate of growth in terms of prices for Kuwait amounted to +21.6% per year.

Honey Imports

Imports into the Philippines

In 2022, imports of honey into the Philippines soared to X tons, rising by 29% compared with 2021 figures. Overall, imports recorded a slight increase. The most prominent rate of growth was recorded in 2019 with an increase of 63% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, honey imports skyrocketed to $X in 2022. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 48% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Australia (X tons) constituted the largest honey supplier to the Philippines, accounting for a 37% share of total imports. Moreover, honey imports from Australia exceeded the figures recorded by the second-largest supplier, Argentina (X tons), threefold. The third position in this ranking was taken by Germany (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Australia stood at -6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+52.0% per year) and Germany (+39.5% per year).

In value terms, Australia ($X) constituted the largest supplier of honey to the Philippines, comprising 37% of total imports. The second position in the ranking was taken by Argentina ($X), with a 13% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Australia amounted to -7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+52.0% per year) and Germany (+38.9% per year).

Import Prices by Country

The average honey import price stood at $X per ton in 2022, growing by 8.8% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 38%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Argentina ($X per ton) and Vietnam ($X per ton), while the price for Austria ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+17.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for honey in the world?

The countries with the highest volumes of honey consumption in 2021 were China, the United States and Turkey, with a combined 42% share of global consumption. Iran, Germany, Russia, the UK, Japan, France, Canada, Poland, Spain and Mexico lagged somewhat behind, together accounting for a further 26%.

What are the largest producers of honey in the world?

China remains the largest honey producing country worldwide, comprising approx. 25% of total volume. Moreover, honey production in China exceeded the figures recorded by the second-largest producer, Turkey, fourfold. Ukraine ranked third in terms of total production with a 4.4% share.

What are the leading suppliers of honey to the Philippines?

In value terms, Australia constituted the largest supplier of honey to the Philippines, comprising 39% of total imports. The second position in the ranking was occupied by Argentina, with a 13% share of total imports. It was followed by Austria, with a 9.7% share.

What are the leading importers of honey from the Philippines?

In value terms, Singapore remains the key foreign market for honey exports from the Philippines, comprising 59% of total exports. The second position in the ranking was occupied by Japan, with a 28% share of total exports. It was followed by the United Arab Emirates, with a 4% share.

What is the average export price for honey in the Philippines?

The average honey export price stood at $5,185 per ton in 2021, surging by 30% against the previous year.

What is the average import price for honey in the Philippines?

The average honey import price stood at $3,460 per ton in 2021, with an increase of 14% against the previous year.

This report provides an in-depth analysis of the honey market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 1182 - Honey

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023