Asia: Honey Market 2024

Honey Market Size in Asia

In 2022, the Asian honey market decreased by less than X% to $X, falling for the second year in a row after two years of growth. In general, consumption saw mild growth. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Honey Production in Asia

In value terms, honey production stood at $X in 2022 estimated in export price. The total production indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2016 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Honey Exports

Exports in Asia

In 2022, shipments abroad of honey increased by X% to X tons, rising for the third consecutive year after two years of decline. Total exports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, honey exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

China represented the major exporter of honey in Asia, with the volume of exports reaching X tons, which was near X% of total exports in 2022. India (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (X%) and Vietnam (X%). The following exporters - Thailand (X tons), the United Arab Emirates (X tons) and Pakistan (X tons) - together made up X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Vietnam ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Turkey, Thailand, the United Arab Emirates and Pakistan lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, the United Arab Emirates, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, increasing by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the export price increased by X%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Pakistan ($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 (X%), while the other leaders experienced more modest paces of growth.

Honey Imports

Imports in Asia

In 2022, the amount of honey imported in Asia reached X tons, growing by X% compared with the year before. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, honey imports contracted to $X in 2022. Total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. The level of import peaked at $X in 2021, and then contracted in the following year.

Imports by Country

Japan was the key importer of honey in Asia, with the volume of imports finishing at X tons, which was near X% of total imports in 2022. Saudi Arabia (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (X%). Taiwan (Chinese) (X tons), Indonesia (X tons), Malaysia (X tons), China (X tons), Hong Kong SAR (X tons), Singapore (X tons), Thailand (X tons), Yemen (X tons) and Kuwait (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to honey imports into Japan stood at X%. At the same time, the United Arab Emirates (X%), Taiwan (Chinese) (X%), Yemen (X%), Indonesia (X%), Kuwait (X%), Saudi Arabia (X%), Singapore (X%) and China (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. By contrast, Hong Kong SAR (X%), Malaysia (X%) and Thailand (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.), Kuwait (X p.p.) and Taiwan (Chinese) (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Hong Kong SAR (X p.p.), Japan (X p.p.), Malaysia (X p.p.) and Thailand (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest honey importing markets in Asia were Japan ($X), Saudi Arabia ($X) and China ($X), with a combined X% share of total imports. The United Arab Emirates, Singapore, Indonesia, Hong Kong SAR, Malaysia, Kuwait, Taiwan (Chinese), Yemen and Thailand lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Taiwan (Chinese), with a CAGR of X%, 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.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, waning by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The level of import peaked at $X per ton in 2021, and then contracted in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while Thailand ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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