Greece: Honey Market 2024

Honey Market Size in Greece

In 2022, after three years of decline, there was significant growth in the Greek honey market, when its value increased by X% to $X. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Honey Production in Greece

In value terms, honey production totaled $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

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Honey Exports

Exports from Greece

For the third year in a row, Greece recorded growth in overseas shipments of honey, which increased by X% to X tons in 2022. In general, exports posted a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, honey exports amounted to $X in 2022. Overall, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Germany (X tons), Italy (X tons) and France (X tons) were the main destinations of honey exports from Greece, together accounting for X% of total exports. Bulgaria, the United States, Cyprus, Belgium, Spain, Canada, Romania, the UK, Austria and Israel lagged somewhat behind, together accounting for a further X%.

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

In value terms, Germany ($X) remains the key foreign market for honey exports from Greece, comprising X% of total exports. The second position in the ranking was held by France ($X), with an X% share of total exports. It was followed by Italy, with an X% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Italy (X% per year).

Export Prices by Country

The average honey export price stood at $X per ton in 2022, remaining stable against the previous year. Overall, the export price showed a pronounced downturn. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Spain ($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 the UK (X%), while the prices for the other major destinations experienced mixed trend patterns.

Honey Imports

Imports into Greece

In 2022, after two years of decline, there was significant growth in supplies from abroad of honey, when their volume increased by X% to X tons. Over the period under review, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, honey imports skyrocketed to $X in 2022. Overall, imports saw a prominent increase. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Bulgaria (X tons) constituted the largest honey supplier to Greece, accounting for a X% share of total imports. Moreover, honey imports from Bulgaria exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. China (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Bulgaria totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and China (X% per year).

In value terms, Bulgaria ($X), Poland ($X) and Spain ($X) constituted the largest honey suppliers to Greece, together comprising X% of total imports.

Poland, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of 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 X% against the previous year. In general, the import price, however, saw a noticeable decrease. The pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 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 Spain ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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