From Honey To Money: Making Profit From Selling Honey
The honey industry in Asia, especially in China, has received a lot of attention from market watchers in recent years. Looking at the total value of the global sweetener market, honey has a 28% share of the total global revenue of $145 billion. According to data published by Statista Market Insights and World Bank population data, the largest honey industry is China, with a per capita income of $17 in 2021.
Of the eight countries on the list, two are from Southeast Asia, Indonesia and Vietnam. Indonesia and Vietnam rank sixth and seventh with per capita incomes of $6.5 and $6.0, respectively. This reflects the importance of Asian markets in global honey production.
Looking ahead to 2020, Indonesia produces 51,338 L of honey. Then in 2021, Indonesia's honey production in 2021 was 189,780 L, with exports reaching $1.55M. In fact, it is estimated that in 2026, Indonesian honey consumption is expected to reach 3,400 tons.
On the other hand, Vietnam produced almost 21.5 thousand metric tons of honey in 2020, with a total exported 54,000 tons of honey. By 2026, it is estimated that Vietnam's honey production will reach 1.3 thousand metric tons, with a projected annual increase of 4.2%. In Vietnam itself, honey production has been steadily increasing over the years. One of the reasons for this is that Vietnam wants to diversify its export markets.
The large production of honey in Indonesia and Vietnam is due to several factors. Both Indonesia and Vietnam have tropical climates that are ideal for beekeeping. The warm temperatures and abundant flowers provide bees with the resources they need to produce honey. Then, the demand for honey is growing both domestically and internationally. This is also due to the function of honey, which is not only beneficial to health, but can also be an alternative sweetener. The governments of Indonesia and Vietnam support the honey industry. This support includes providing subsidies to beekeepers and conducting research and development to improve honey production.
Not surprisingly, income from honey production in Indonesia and Vietnam is expected to continue to grow in the coming years. Despite the potential challenges that both countries may face in the future, honey production will remain a profitable sector.
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