Scandinavia: Honey Market 2024

Honey Market Size in Scandinavia

The Scandinavia honey market was estimated at $X in 2022, therefore, remained relatively stable against the previous year. The total consumption indicated buoyant growth 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, consumption increased by +3.4% against 2020 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Honey Production in Scandinavia

In value terms, honey production contracted modestly to $X in 2022 estimated in export price. The total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.1% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 38% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Honey Exports

Exports in Scandinavia

After three years of growth, shipments abroad of honey decreased by -6.1% to X tons in 2022. Overall, exports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 153%. The volume of export peaked at X tons in 2021, and then shrank in the following year.

In value terms, honey exports dropped modestly to $X in 2022. Over the period under review, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2019 when exports increased by 88% against the previous year. The level of export peaked at $X in 2021, and then reduced slightly in the following year.

Exports by Country

Sweden represented the major exporting country with an export of about X tons, which reached 68% of total exports. It was distantly followed by Norway (X tons), making up a 30% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to honey exports from Sweden stood at +14.0%. At the same time, Norway (+162.5%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +162.5% from 2012-2022. Norway (+30 p.p.) significantly strengthened its position in terms of the total exports, while Sweden saw its share reduced by -27.3% from 2012 to 2022, respectively.

In value terms, Sweden ($X) remains the largest honey supplier in Scandinavia, comprising 68% of total exports. The second position in the ranking was taken by Norway ($X), with a 29% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Sweden totaled +11.6%.

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, with an increase of 4% against the previous year. Over the period under review, the export price, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2018 when the export price increased by 30% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Norway stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (-2.1%).

Honey Imports

Imports in Scandinavia

After two years of decline, purchases abroad of honey increased by 3% to X tons in 2022. The total import volume increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by 17% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, honey imports reached $X in 2022. The total import value increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 18%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Sweden was the largest importer of honey in Scandinavia, with the volume of imports resulting at X tons, which was near 59% of total imports in 2022. It was distantly followed by Finland (X tons) and Norway (X tons), together creating a 41% share of total imports.

Sweden experienced a relatively flat trend pattern with regard to volume of imports of honey. At the same time, Norway (+5.7%) and Finland (+3.6%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +5.7% from 2012-2022. From 2012 to 2022, the share of Norway and Finland increased by +4.8 and +3.2 percentage points, respectively.

In value terms, Sweden ($X) constitutes the largest market for imported honey in Scandinavia, comprising 55% of total imports. The second position in the ranking was taken by Finland ($X), with a 24% share of total imports.

In Sweden, honey imports expanded at an average annual rate of +1.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Finland (+2.8% per year) and Norway (+8.7% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, which is down by -1.9% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 7.6%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+2.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform