Saudi Arabia: Honey Market 2024

Honey Market Size in Saudi Arabia

The Saudi honey market skyrocketed to $X in 2022, growing by 22% against the previous year. Overall, consumption showed a prominent increase. Honey consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Honey Production in Saudi Arabia

In value terms, honey production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of 17% against the previous year. Honey production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Honey Exports

Exports from Saudi Arabia

In 2022, after two years of growth, there was significant decline in overseas shipments of honey, when their volume decreased by -27.1% to X tons. Overall, exports continue to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2020 when exports increased by 204%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, honey exports reduced to $X in 2022. Over the period under review, exports recorded a noticeable decrease. The growth pace was the most rapid in 2020 when exports increased by 145%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for honey exports from Saudi Arabia, with a 50% share of total exports. Moreover, honey exports to the United Arab Emirates exceeded the volume sent to the second major destination, Jordan (X tons), twofold. Kuwait (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates amounted to +12.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (-1.7% per year) and Kuwait (+5.4% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for honey exports from Saudi Arabia, comprising 50% of total exports. The second position in the ranking was taken by Jordan ($X), with a 16% share of total exports. It was followed by Kuwait, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates stood at +11.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (-2.9% per year) and Kuwait (+7.5% per year).

Export Prices by Country

The average honey export price stood at $X per ton in 2022, jumping by 30% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to Tunisia ($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 Qatar (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Honey Imports

Imports into Saudi Arabia

In 2022, approx. X tons of honey were imported into Saudi Arabia; picking up by 6.4% against the previous year. Over the period under review, total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -7.8% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 33%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, honey imports rose markedly to $X in 2022. Overall, total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -9.2% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of 50%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Pakistan (X tons) and India (X tons) were the main suppliers of honey imports to Saudi Arabia, with a combined 44% share of total imports. Mexico, Germany, Egypt, Spain, Thailand, Yemen, Turkey, the United Arab Emirates, Argentina and Hungary lagged somewhat behind, together accounting for a further 50%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hungary (with a CAGR of +35.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Mexico ($X) and Yemen ($X) appeared to be the largest honey suppliers to Saudi Arabia, together comprising 38% of total imports. Pakistan, Spain, China, India, Hungary, the United Arab Emirates, Egypt, Turkey, Thailand and Argentina lagged somewhat behind, together accounting for a further 47%.

Hungary, with a CAGR of +44.3%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average honey import price stood at $X per ton in 2022, rising by 4.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2017 when the average import price increased by 27%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 Yemen ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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