Report Update Nov 1, 2024

Puerto Rico - Honey - Market Analysis, Forecast, Size, Trends and Insights

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Puerto Rico: Honey Market 2024

Honey Market Size in Puerto Rico

The Puerto Rican honey market reduced slightly to $X in 2021, stabilizing at the previous year. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Honey Production in Puerto Rico

In value terms, honey production dropped modestly to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 24% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Honey Exports

Exports by Country

In 2021, China (X tons), distantly followed by India (X tons), Vietnam (X tons), Ukraine (X tons), Argentina (X tons) and Brazil (X tons) were the key exporters of honey, together constituting 56% of total exports. Germany (X tons), Spain (X tons), Belgium (X tons), Mexico (X tons), New Zealand (X tons), Poland (X tons) and Hungary (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to honey exports from China stood at +3.2%. At the same time, Ukraine (+18.4%), Poland (+13.0%), India (+12.5%), Vietnam (+12.3%), Brazil (+12.2%), New Zealand (+9.7%), Belgium (+4.9%), Spain (+4.3%), Germany (+3.0%) and Hungary (+1.3%) displayed positive paces of growth. Moreover, Ukraine emerged as the fastest-growing exporter exported in the world, with a CAGR of +18.4% from 2012-2021. By contrast, Argentina (-2.4%) and Mexico (-2.7%) illustrated a downward trend over the same period. While the share of Ukraine (+5.2 p.p.), India (+4.2 p.p.), Vietnam (+3.6 p.p.) and Brazil (+2.8 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of China (-2.6 p.p.), Mexico (-2.9 p.p.) and Argentina (-6.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, New Zealand ($X) remains the largest honey supplier from Puerto Rico, comprising 19% of global exports. The second position in the ranking was held by China ($X), with an 8.8% share of global exports. It was followed by Argentina, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in New Zealand stood at +20.4%. The remaining exporting countries recorded the following average annual rates of exports growth: China (+2.1% per year) and Argentina (-0.7% per year).

Honey Imports

Imports by Country

The United States was the key importer of honey in the world, with the volume of imports reaching X tons, which was approx. 29% of total imports in 2021. Germany (X tons) took a 10% share (based on physical terms) of total imports, which put it in second place, followed by Japan (6.3%), the UK (6.2%) and Poland (5%). Spain (X tons), Belgium (X tons), France (X tons), Italy (X tons), Saudi Arabia (X tons) and the Netherlands (X tons) followed a long way behind the leaders.

Imports into the United States increased at an average annual rate of +5.1% from 2012 to 2021. At the same time, Poland (+11.5%), Italy (+4.8%), Belgium (+4.8%), Spain (+4.6%), the UK (+3.9%), the Netherlands (+3.7%), Saudi Arabia (+2.8%), Japan (+2.8%) and France (+1.5%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in the world, with a CAGR of +11.5% from 2012-2021. By contrast, Germany (-1.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United States and Poland increased by +2.6 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest honey importing markets into Puerto Rico were the United States ($X), Germany ($X) and Japan ($X), together comprising 43% of total imports. These countries were followed by the UK, France, Italy, Poland, Saudi Arabia, Belgium, Spain and the Netherlands, which together accounted for a further 30%.

Among the main importing countries, Poland, with a CAGR of +11.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders 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, together comprising 42% of global consumption. Iran, Germany, Russia, the UK, Japan, France, Canada, Poland, Spain and Mexico lagged somewhat behind, together comprising 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. The third position in this ranking was occupied by Ukraine, with a 4.4% share.

What are the leading suppliers of honey to Puerto Rico?

In value terms, the United States constitutes the largest market for imported honey into Puerto Rico, comprising 24% of global imports. The second position in the ranking was occupied by Germany, with a 12% share of global imports. It was followed by Japan, with a 6.6% share.

What are the leading importers of honey from Puerto Rico?

In value terms, the largest honey supplying countries from Puerto Rico were Brazil, Argentina and Germany, with a combined 24% share of total exports.

What is the average export price for honey in Puerto Rico?

The honey export price in Puerto Rico stood at $less than 0.1 per ton in 2021, therefore, remained relatively stable against the previous year.

What is the average import price for honey in Puerto Rico?

The honey import price in Puerto Rico stood at $less than 0.1 per ton in 2021, therefore, remained relatively stable against the previous year.

This report provides an in-depth analysis of the honey market in Puerto Rico. 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:

Puerto Rico

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Puerto Rico
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