The annual consumption of honey Importer in the USA is 600 million pounds. As per the trade and consumption data, the domestic producers meet only one-third of the annual consumption. This implies that the US imports over 400 million pounds of honey every year. In the list of significant Honey exporters of the United States, there are larger producers like Taylor Pass Honey, and there are smaller players as well.
Market Statistics Of Honey Imports To The USA
For the 400 million pounds of purchase, the American market paid a total of $ 430.1 million to its exporters in the year 2019. As per 2019 data, the top ten honey exporting countries to the USA are:
- India: US$85.7 million
- Argentina: $83 million
- Brazil: $57.6 million
- Vietnam: $52.1 million
- New Zealand: $39.8 million
- Canada: $25.3 million
- Ukraine: $17.5 million
- China: $13 million
- Mexico: $10.6 million
- Australia: $5.6 million
Although the above countries rank under the top ten, other exporters have recently entered the US markets, and their growth has surpassed all. Among them, Spain and New Zealand are the major ones that accounted for 177% and 97% respectively. Some of the historical mega importers recently witnessed a fall in importers, among which Thailand, Turkey, Ukraine, and Vietnam are the major ones.
Do Trade Regulations Play A Major Role?
All honey importers US must adhere to a set of FDA and USDA regulations. Therefore, they often work with an import agent or a customs broker to manage their shipments to the US ports.
Let us look at the regulations which the importers need to follow to Honey Import to the US:
1. The honey importers US need to register with the FDA before beginning the shipment to the US borders.
2. Apart from the registration with the FDA, the importers also have to implement a Hazard Analysis and Critical Control Point (HACCP) plan. It is a general plan for identifying, monitoring, and preventing hazards within the trade facility of the honey importers.
3. The honey buyers US need to ensure that their suppliers alert the Customs and Border Protection authorities on the arrival of their shipments for a hassle-free receipt.
What Are Honey Labelling Requirements?
The United States market plays a significant role in boosting the economies of smaller honey-producing nations. However, they need to stick with strict guidelines regarding small yet essential aspects like labeling. A shipment must have the following details:
- The common name of the product
- Country of origin
- Grade, sampling, and continuous mark
- Country of import
- Net weight of the package
- Ingredients of the product
- Contact information of manufacturer, farmer, manufacturer, packager, and distributor
What’s The Future Outlook Of The Honey Importer?
If we look at the US honey import data, then we realize that there has been a regular trend in imports since the past decade. The honey buyers in the US no longer have a trust deficit in the new suppliers, unlike the earlier times, and they are open to importing from newer players in the market honey importer.
Based on the visible trends, it is also expected that the recent tariff wars between the US and its old trading partners have certainly taken a toll on their partnership. This has, in turn, opened the doors for other nations like New Zealand and Spain. Taylor Pass Honey accounted for significant exports to the US from New Zealand.
Even though the US imports saw a fall in recent years from 2015 to 2019, the situation is set to improve as the effects of the COVID-19 pandemic are not going to last. Also, the change in leadership in the US and overhaul of the World Trade Organization structure will also affect the imports to the country.
What’s The Best Way For Potential Honey Exporters?
The United States is the dream market for Honey exporters around the world, majorly due to two reasons. Firstly, they get a better price for their products, and it also helps build a reputation for their brand. Secondly, the US market is quite balanced and is not subject to frequent shocks that assure regular orders and cash flow for exporters of the honey importer.
Those exporters who wish to import honey to the US need to make smart decisions by adhering to an intelligent approach. Although the traditional methods of trade relations that involve trade bodies and embassies are still intact, it is necessary to understand the power of data-based analysis to get a head start.
There are several data intelligence tools that take import-export data as input and generate valuable insights for traders, which helps them understand the markets better and take critical managerial decisions. The current data intelligence methodology combined with several other modern technologies like machine learning, automation, and artificial intelligence can further help develop smart solutions for businesses to help them soar ahead of the honey importers.
It can be comfortably said that the US honey market will continue to provide many opportunities to honey traders worldwide. However, the decision of the ultimate benefactor will be made only based on the decisions traders take for their businesses.