Report Update Nov 1, 2024

Sri Lanka - Honey - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Honey Market 2024

Honey Market Size in Sri Lanka

The Sri Lankan honey market surged to $X in 2022, increasing by 18% against the previous year. In general, consumption saw significant growth. Honey consumption peaked in 2022 and is likely to continue growth in the near future.

Honey Production in Sri Lanka

In value terms, honey production amounted to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. Honey production peaked in 2022 and is likely to see steady growth in years to come.

Honey Exports

Exports from Sri Lanka

Honey exports from Sri Lanka skyrocketed to X tons in 2022, rising by 12,779% compared with 2021 figures. Overall, exports recorded a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, honey exports soared to $X in 2022. Over the period under review, exports enjoyed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates (X tons) was the main destination for honey exports from Sri Lanka, accounting for a 100% share of total exports. It was followed by Maldives (X kg), with a 0.1% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates totaled +131.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (-17.7% per year) and Malaysia (-46.8% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for honey exports from Sri Lanka, comprising 57% of total exports. The second position in the ranking was taken by Maldives ($X), with a 0.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates amounted to +161.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (-5.7% per year) and Malaysia (-47.0% per year).

Export Prices by Country

The average honey export price stood at $X per ton in 2022, waning by -63.6% against the previous year. Overall, the export price continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2019 when the average export price increased by 96%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to the United Arab Emirates ($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 Maldives (+14.5%), while the prices for the other major destinations experienced mixed trend patterns.

Honey Imports

Imports into Sri Lanka

In 2022, supplies from abroad of honey decreased by -45.1% to X tons for the first time since 2016, thus ending a five-year rising trend. In general, imports, however, recorded strong growth. The growth pace was the most rapid in 2017 when imports increased by 63%. Over the period under review, imports hit record highs at X tons in 2021, and then dropped significantly in the following year.

In value terms, honey imports dropped markedly to $X in 2022. Over the period under review, imports, however, continue to indicate a remarkable increase. The growth pace was the most rapid in 2015 with an increase of 66% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then plummeted in the following year.

Imports by Country

In 2022, India (X tons) constituted the largest honey supplier to Sri Lanka, accounting for a 43% share of total imports. Moreover, honey imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume from India totaled +17.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+17.3% per year) and Germany (+41.4% per year).

In value terms, Germany ($X) constituted the largest supplier of honey to Sri Lanka, comprising 45% of total imports. The second position in the ranking was taken by India ($X), with a 22% share of total imports. It was followed by China, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at +45.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+12.8% per year) and China (+21.0% per year).

Import Prices by Country

In 2022, the average honey import price amounted to $X per ton, picking up by 6.3% against the previous year. Over the last decade, it increased at an average annual rate of +4.4%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 44%. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ireland ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+20.5%), 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, together accounting for 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, accounting for 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 Sri Lanka?

In value terms, India constituted the largest supplier of honey to Sri Lanka, comprising 44% of total imports. The second position in the ranking was occupied by China, with a 21% share of total imports. It was followed by Singapore, with a 10% share.

What are the leading importers of honey from Sri Lanka?

In value terms, the United Arab Emirates remains the key foreign market for honey exports from Sri Lanka, comprising 93% of total exports. The second position in the ranking was occupied by India $25), with a 1.7% share of total exports. It was followed by Maldives, with a 1.5% share.

What is the average export price for honey in Sri Lanka?

In 2021, the average honey export price amounted to $2,919 per ton, shrinking by -9% against the previous year.

What is the average import price for honey in Sri Lanka?

The average honey import price stood at $3,500 per ton in 2021, increasing by 1.8% against the previous year.

This report provides an in-depth analysis of the honey market in Sri Lanka. 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:

Sri Lanka

Data coverage:

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