SADC: Honey Market 2024

Honey Market Size in SADC

After two years of growth, the SADC honey market decreased by -9.2% to $X in 2022. In general, consumption showed a pronounced decline. The growth pace was the most rapid in 2020 with an increase of 5.6% against the previous year. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Honey Production in SADC

In value terms, honey production declined modestly to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of 14%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Honey Exports

Exports in SADC

In 2022, the amount of honey exported in SADC declined notably to X tons, shrinking by -35.3% on the previous year. In general, exports, however, enjoyed strong growth. The pace of growth appeared the most rapid in 2017 with an increase of 110% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2021, and then dropped significantly in the following year.

In value terms, honey exports declined rapidly to $X in 2022. Over the period under review, exports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2017 when exports increased by 54%. Over the period under review, the exports reached the peak figure at $X in 2021, and then dropped notably in the following year.

Exports by Country

Zambia was the key exporting country with an export of around X tons, which accounted for 45% of total exports. Tanzania (X tons) held the second position in the ranking, followed by South Africa (X tons) and Madagascar (X tons). All these countries together took approx. 53% share of total exports. Mozambique (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Mozambique (with a CAGR of +125.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest honey supplying countries in SADC were Zambia ($X), South Africa ($X) and Tanzania ($X), together accounting for 94% of total exports. Madagascar and Mozambique lagged somewhat behind, together accounting for a further 4%.

Mozambique, with a CAGR of +79.4%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in SADC stood at $X per ton in 2022, picking up by 29% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The pace of growth was the most pronounced in 2018 an increase of 43% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Mozambique ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+9.9%), while the other leaders experienced mixed trends in the export price figures.

Honey Imports

Imports in SADC

After ten years of growth, supplies from abroad of honey decreased by -55.7% to X tons in 2022. Over the period under review, imports, however, enjoyed a moderate expansion. The most prominent rate of growth was recorded in 2016 with an increase of 45%. Over the period under review, imports attained the peak figure at X tons in 2021, and then fell dramatically in the following year.

In value terms, honey imports plummeted to $X in 2022. Overall, imports, however, saw perceptible growth. The growth pace was the most rapid in 2016 when imports increased by 33%. The level of import peaked at $X in 2021, and then declined notably in the following year.

Imports by Country

South Africa was the key importing country with an import of around X tons, which amounted to 54% of total imports. Mauritius (X tons) ranks second in terms of the total imports with a 20% share, followed by Namibia (8.6%) and Botswana (5.9%). The following importers - Mozambique (X tons), Lesotho (X tons) and Seychelles (X tons) - each accounted for a 5.8% share of total imports.

South Africa experienced a relatively flat trend pattern with regard to volume of imports of honey. At the same time, Namibia (+23.1%), Lesotho (+19.3%), Seychelles (+18.4%), Mozambique (+16.3%), Botswana (+14.8%) and Mauritius (+11.1%) displayed positive paces of growth. Moreover, Namibia emerged as the fastest-growing importer imported in SADC, with a CAGR of +23.1% from 2012-2022. From 2012 to 2022, the share of Mauritius, Namibia, Botswana and Mozambique increased by +11, +7.2, +4 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mauritius ($X), South Africa ($X) and Namibia ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 73% of total imports. Botswana, Lesotho, Seychelles and Mozambique lagged somewhat behind, together comprising a further 20%.

Lesotho, with a CAGR of +21.3%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in SADC stood at $X per ton in 2022, jumping by 28% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Botswana ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Botswana (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform