Industry Analysis & Industry Trends
The industry has experienced volatile patterns, with rising import volumes and the threat of colony collapse disorder adversely affecting its performance. In particular, the increasing penetration of imports will place downward pressure on the price of US honey. Growth will remain stunted over the next five years, though an expansion into territories like medicine and pollination services will help offset major revenue declines... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The growing value of imports is keeping domestic industry growth limited. Nevertheless, over the 10 years to 2020, industry value added (IVA), a measure of the industry's contribution to the overall economy, is forecast to grow an annualized 2.1%, matching the projected 2.2% growth of GDP over the same period. Although domestic honey production is being increasingly substituted by lower-priced imports, US prices are expanding rapidly in response to growing demand from downstream markets, especially in the light of poor weather conditions. In fact, the average price per pound of honey has increased from $1.62 in 2010 to $2.16 in 2014 (latest data available), thus driving up industry revenue.
Honey is also widely used and relatively unchanging... purchase to read more