What is the outlook of the Burmese honey sector?
The global honey market is projected to attain a remarkable value of USD 13.57 billion by the year 2030, with a steady Compound Annual Growth Rate (CAGR) of 5.3% throughout the forecast period. This surge is largely attributed to the escalating demand for wholesome and natural alternatives to traditional sugars, driven by the health-conscious consumer base. Furthermore, the surge in the popularity of vegan and organic honey products, spanning soups, challah, and hot toddy, is anticipated to invigorate the market's overall growth trajectory.
Due to the health crisis caused by COVID-19, super or healthy foods, such as honey and other bee products, have gained increasing interest from the public. This has resulted in higher international prices for honey - and Myanmar has the opportunity to grow its export linkages in the product if it ensures internal sanitary control mechanisms for its honey production.
Myanmar exported honey worth US$1.68 million to the European Union market in 2022. Arise Plus Myanmar Trade-Related Assistance project implemented by the International Trade Centre and the Department of Consumer Affairs Department under the Ministry of Commerce are contributing to the sustainable growth of the honey market, suggestions to penetrate EU market and implementation of GBP, Hazard Analysis and Critical Control Point (HACCP) and Good Manufacturing Practices (GMP). Myanmar honey production and export is expected to double within 5 years.