The Brazilian honey market experienced a consistent decline from 2014 to 2020, with volumes decreasing from 15.0 thousand metric tons in 2014 to 9.96 thousand metric tons in 2020. A slight recovery occurred in 2021, reaching 11.0 thousand metric tons and stabilizing at this level through 2023. The year-on-year variation in 2023 indicated no change, and the 5-year CAGR from 2018 to 2023 showed an average annual decline of 1.73%.
Looking ahead to the forecasted period from 2024 to 2028, the market is expected to decline further, with the volume predicted to reduce from 10.68 thousand metric tons in 2024 to 9.77 thousand metric tons by 2028. The forecasted 5-year CAGR suggests an average annual decline of 1.76%, translating to an overall decrease of 8.51% over the period.
Future trends to watch for include potential impacts of environmental changes on honey production, shifts in consumer preferences towards natural sweeteners, and regulatory changes concerning beekeeping practices. Additionally, advancements in sustainable beekeeping technologies and practices might offer opportunities for stabilization or growth in the market.
