Honey Market Overview in Iran
Market Overview
The Iranian honey market contracted to $
in 2019, 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, consumption, however, saw a buoyant increase. The growth pace was the most rapid in 2012 with an increase of % y-o-y. Over the period under review, the market hit record highs at $ in 2017; however, from 2018 to 2019, consumption failed to regain the momentum.
In value terms, honey production fell dramatically to $ in 2019 estimated in export prices. Over the period under review, production, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of % year-to-year. As a result, production reached the peak level of $. From 2018 to 2019, production growth failed to regain the momentum.
in 2019, 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, consumption, however, saw a buoyant increase. The growth pace was the most rapid in 2012 with an increase of % y-o-y. Over the period under review, the market hit record highs at $ in 2017; however, from 2018 to 2019, consumption failed to regain the momentum.In value terms, honey production fell dramatically to $
in 2019 estimated in export prices. Over the period under review, production, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of % year-to-year. As a result, production reached the peak level of $. From 2018 to 2019, production growth failed to regain the momentum.Consumption
After two years of growth, consumption of honey decreased by -% to tonnes in 2019. In general, the total consumption indicated a pronounced increase from 2007 to 2019: its volume increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +% against 2016 indices. The growth pace was the most rapid in 2012 with an increase of % year-to-year. Over the period under review, consumption hit record highs at tonnes in 2014; however, from 2015 to 2019, consumption stood at a somewhat lower figure.
The size of the honey market in Iran dropped to $ in 2019, declining 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). Overall, consumption, however, showed a resilient increase. The most prominent rate of growth was recorded in 2012 with an increase of % against the previous year. Honey consumption peaked at $ in 2017; however, from 2018 to 2019, consumption failed to regain the momentum.
% to tonnes in 2019. In general, the total consumption indicated a pronounced increase from 2007 to 2019: its volume increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +% against 2016 indices. The growth pace was the most rapid in 2012 with an increase of % year-to-year. Over the period under review, consumption hit record highs at tonnes in 2014; however, from 2015 to 2019, consumption stood at a somewhat lower figure.The size of the honey market in Iran dropped to $
in 2019, declining 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). Overall, consumption, however, showed a resilient increase. The most prominent rate of growth was recorded in 2012 with an increase of % against the previous year. Honey consumption peaked at $ in 2017; however, from 2018 to 2019, consumption failed to regain the momentum.Market Forecast
Driven by increasing demand for honey in Iran, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .
% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .Market Structure
Over the period under review, imports of honey in Iran were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for honey.
Trade Balance
This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
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