In 2023, the honey market volume in China stood at 319.0 thousand metric tons. Over the previous two years, there has been a consistent decline with a year-on-year variation of -1.54% for 2023 and -1.52% for 2022. Examining the longer term trend, the market has seen significant fluctuations. The largest dip occurred in 2015 with an -18.5% decrease, followed by a notable recovery in 2016 with a 28.22% increase. Over the last five years, the Compound Annual Growth Rate (CAGR) reflects a steady decline at -4.32% from 2019 to 2023.
The forecasted data from 2024 onwards suggest a continued downward trend with an average annual decline of -1.31%. By 2028, the market size is projected to stand at 293.8 thousand metric tons, representing a total decrease of 6.37% over the next five years.
Future trends to watch for include potential shifts in consumer preferences towards alternative sweeteners, the impact of regulatory changes, and environmental factors affecting honey production. Additionally, monitoring health trends and the growing popularity of organic and natural products will be crucial in understanding the market's trajectory.
