Greece: Honey Market Overview 2021

Honey Market Size in Greece

In 2019, the Greek honey market was finally on the rise to reach $X for the first time since 2016, thus ending a two-year declining trend. The market value increased at an average annual rate of +X% from 2007 to 2019; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of X% year-to-year. Over the period under review, the market reached the peak level at $X in 2011; however, from 2012 to 2019, consumption failed to regain the momentum.

Honey Production in Greece

In value terms, honey production reduced modestly to $X in 2019 estimated in export prices. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of X% year-to-year. Over the period under review, production reached the maximum level at $X in 2011; however, from 2012 to 2019, production failed to regain the momentum.

Honey Exports

Exports from Greece

In 2019, after two years of growth, there was significant decline in shipments abroad of honey, when their volume decreased by -X% to X tonnes. Overall, exports, however, continue to indicate a resilient increase. The pace of growth was the most pronounced in 2017 with an increase of X% y-o-y. Over the period under review, exports reached the peak figure at X tonnes in 2018, and then fell in the following year.

In value terms, honey exports declined markedly to $X in 2019. In general, exports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X% year-to-year. Exports peaked at $X in 2018, and then contracted remarkably in the following year.

Exports by Country

Germany (X tonnes), the U.S. (X tonnes) and France (X tonnes) were the main destinations of honey exports from Greece, together comprising X% of total exports. Cyprus, the UK, Italy and Canada lagged somewhat behind, together comprising a further X 2007 to 2019, the biggest increases were in Italy, while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the U.S. ($X) and France ($X) were the largest markets for honey exported from Greece worldwide, with a combined X% share of total exports. The UK, Cyprus, Canada and Italy lagged somewhat behind, together comprising a further X saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2019, the average honey export price amounted to $X per tonne, with a decrease of -X% against the previous year. Overall, the export price showed a noticeable setback. The pace of growth was the most pronounced in 2010 when the average export price increased by X% against the previous year. Over the period under review, average export prices attained the peak figure at $X per tonne in 2011; however, from 2012 to 2019, export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Canada ($X per tonne), while the average price for exports to Italy ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to the UK, while the prices for the other major destinations experienced a decline.

Honey Imports

Imports into Greece

In 2019, the amount of honey imported into Greece soared to X tonnes, rising by X% on the previous year. In general, imports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2017 when imports increased by X% y-o-y. Over the period under review, imports hit record highs in 2019 and are likely to see steady growth in the near future.

In value terms, honey imports soared to $X in 2019. Over the period under review, imports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2017 when imports increased by X% y-o-y. Over the period under review, imports hit record highs in 2019 and are expected to retain growth in the near future.

Imports by Country

In 2019, Bulgaria (X tonnes) constituted the largest honey supplier to Greece, with a X% share of total imports. Moreover, honey imports from Bulgaria exceeded the figures recorded by the second-largest supplier, Poland (X tonnes), eightfold. China (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2019, the average annual growth rate of volume from Bulgaria amounted to +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 ($X) constituted the largest supplier of honey to Greece, comprising X% of total imports. The second position in the ranking was occupied by Poland ($X), with a X% share of total imports. It was followed by Spain, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value from Bulgaria amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+X% per year) and Spain (-X% per year).

Import Prices by Country

The average honey import price stood at $X per tonne in 2019, falling by -X% against the previous year. In general, the import price recorded a perceptible descent. The most prominent rate of growth was recorded in 2008 when the average import price increased by X% against the previous year. The import price peaked at $X per tonne in 2010; however, from 2011 to 2019, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was Spain ($X per tonne), while the price for China ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Spain, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for honey in the world?

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The countries with the highest volumes of honey consumption in 2019 were China (330K tonnes), the U.S. (252K tonnes) and Turkey (104K tonnes), with a combined 36% share of global consumption. These countries were followed by Canada, Iran, Germany, Russia, Ethiopia, the UK, Japan, France, Spain and Mexico, which together accounted for a further 30%.

What are the largest producers of honey in the world?

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China (444K tonnes) constituted the country with the largest volume of honey production, comprising approx. 23% of total volume. Moreover, honey production in China exceeded the figures recorded by the second-largest producer, Turkey (109K tonnes), fourfold. The third position in this ranking was occupied by Canada (80K tonnes), with a 4.2% share.

What are the leading suppliers of honey to Greece?

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In value terms, Bulgaria ($13M) constituted the largest supplier of honey to Greece, comprising 75% of total imports. The second position in the ranking was occupied by Poland ($2M), with a 12% share of total imports. It was followed by Spain, with a 3.9% share.

What are the leading importers of honey from Greece?

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In value terms, the largest markets for honey exported from Greece were Germany ($3.4M), the U.S. ($1.9M) and France ($1.6M), together accounting for 47% of total exports. These countries were followed by the UK, Cyprus, Canada and Italy, which together accounted for a further 30%.

What is the average export price for honey in Greece?

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In 2019, the average honey export price amounted to $4,701 per tonne, waning by -5.7% against the previous year.

What is the average import price for honey in Greece?

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In 2019, the average honey import price amounted to $2,539 per tonne, shrinking by -7.7% against the previous year.