Honey Market in Honduras
Market Overview
After three years of growth, the Honduran honey market decreased by -
% to $ in . Overall, the total consumption indicated a temperate expansion from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2018 indices. Over the period under review, the market hit record highs at $ in 2016; however, from 2017 to , consumption failed to regain momentum.
In value terms, honey production expanded rapidly to $ in estimated in export price. Overall, production saw a abrupt descent. The most prominent rate of growth was recorded in 2012 with an increase of %. Honey production peaked at $ in 2013; however, from 2014 to , production stood at a somewhat lower figure.
% to $ in . Overall, the total consumption indicated a temperate expansion from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2018 indices. Over the period under review, the market hit record highs at $ in 2016; however, from 2017 to , consumption failed to regain momentum.In value terms, honey production expanded rapidly to $
in estimated in export price. Overall, production saw a abrupt descent. The most prominent rate of growth was recorded in 2012 with an increase of %. Honey production peaked at $ in 2013; however, from 2014 to , production stood at a somewhat lower figure.Consumption
In , approx. tons of honey were consumed in Honduras; therefore, remained relatively stable against the previous year. In general, the total consumption indicated temperate growth from 2007 to : its volume increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against indices. Over the period under review, consumption hit record highs at tons in 2016; however, from 2017 to , consumption remained at a lower figure.
The value of the honey market in Honduras declined to $ in , which is down by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a temperate expansion from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2018 indices. Over the period under review, the market reached the maximum level at $ in 2016; however, from 2017 to , consumption stood at a somewhat lower figure.
, approx. tons of honey were consumed in Honduras; therefore, remained relatively stable against the previous year. In general, the total consumption indicated temperate growth from 2007 to : its volume increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against indices. Over the period under review, consumption hit record highs at tons in 2016; however, from 2017 to , consumption remained at a lower figure.The value of the honey market in Honduras declined to $
in , which is down by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a temperate expansion from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2018 indices. Over the period under review, the market reached the maximum level at $ in 2016; however, from 2017 to , consumption stood at a somewhat lower figure.Market Forecast
Driven by increasing demand for honey in Honduras, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to bring the market volume to tons by the end of .In value terms, the market is forecast to increase with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Driven by a growing demand, the share of imports in total supply in Honduras increased significantly over the last fifteen years (from % to %).
% to %).Trade Balance
Honduras remains a net importer of honey; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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