Analysis of the honey demand in Angola reveals a generally stable consumption trend from 2014 to 2023 with periods of slight decline and recovery. The actual demand remained mostly steady at around 23-24 thousand metric tons (TMT), showing resilience despite a significant drop in 2020.
The demand experienced a notable decline in 2020, with a -17% year-on-year drop, but recovered by 2021 with a 20.48% increase, stabilizing again at 23 TMT for the subsequent years up to 2023. The Compound Annual Growth Rate (CAGR) for the past five years leading up to 2023 is essentially flat.
Future forecasts indicate a slight decline, with a gradual reduction from 22.92 TMT in 2024 to 22.73 TMT by 2028, reflecting a negligible negative growth. The forecasted five-year CAGR is -0.17%, indicating minimal variations over the medium term. This suggests a marginally declining demand trend expected in the forthcoming years.
Future trends to watch for include potential impacts of economic fluctuations, changes in consumer preferences, and any agricultural or environmental factors that could affect honey production and supply in Angola.
