Global Honey Market Size To Grow At A Steady Rate In The Forecast Period Of 2023-2028
Honey Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The ‘Global Honey Market Share, Size, Scope, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global honey market, assessing the market on the basis of its segments like processing, application, distribution channels, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
The key highlights of the report include:
Market Overview (2018-2028)
Consumption and demand for honey is increasing rapidly owing to the rising awareness about the medicinal properties and health benefits associated with honey. Apart from being used as a sweetener, honey is also used as an antioxidant, antibacterial, and anti-inflammatory agent.
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Honey helps in the early treatment of burns or wounds and also helps in boosting the immunity of an individual. Rising awareness of honey being used as a natural face mask to moisturise skin and cure acne is another factor increasing the sale of honey and the growth of the honey market. Further, honey helps in improving digestion, hair conditioning, providing immunity from pollen allergies, and is also used as a lip balm.
Increasing use of honey in various sectors, especially in the food and beverage industry, is helping in the growth of the honey market. Its use a natural sweetener for people who are diabetic or would like to avoid sugar has contributed largely to the increase in its demand.
Domestic use of honey is on rise as it is used as a spread on bread or as a sweetener in cooking, baking and tea. Commercially, honey is used by bakers to prepare desserts. Further, it is used in the production of alcoholic beverages such as mead.
Honey Industry Definition and Major Segments
Honey is a sweet, sticky, and yellow coloured viscous liquid that is prepared by bees from the nectar of flowers and is used as a food product, applied on the skin, and used in pharmaceuticals. Honey is considered to be a natural cough syrup and also a healthy alternative to sugar. Further, it is applied on wounds and burns as it helps in faster treatment of the wounds and can improve skin texture.
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Based on processing, the market is segmented into:
On the basis of application, the market is classified into:
- Food and Beverage
- Personal Care and Cosmetics
Based on distribution channels, the market is divided into:
- Business to Business
- Business to Consumer
- Hypermarkets and Supermarkets
- Convenience Stores
On the basis of region, the market is categorised into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Honey Market Trends
The key trends in the global honey market include the rising use of honey in pharmaceuticals and traditional medicine systems such as Ayurveda. This is because honey is known for helping in the treatment of cold sores, cough and cold, and sores and ulcers in gums and mouth, among others. It is used in the treatment of dry eyes and burns, among other problems. Shifting preference of the consumers towards natural products for healthcare is fuelling the growth of the market for honey. Therapeutic and medicinal uses of honey acts are thereby increasing the sale of honey.
Specialised honey is a key trend in the honey market and is produced by bees that source their nectar from specific plants. Such honeys are gaining popularity due to their added benefits and variations in taste. For example, Manuka honey that is made by bees from tea trees.
Asia Pacific has been dominating the global honey market and is expected to continue growing in the forecast period as well. India and China are significant contributors to the production and marketing of honey, aiding Asia Pacific in holding a larger share in the market. Presence of major key players in the region and the willingness of the consumers as well as producers to spend more on natural honey is further fuelling the growth of the market.
Key Market Players
The major players in the honey market report are :
- Barkman Honey, LLC
- Dabur India Ltd.
- Capilano Honey Limited
- African Bronze Honey Company
- New Zealand Honey Co.
- Pastili Limited
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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