Global Honey Market By Processing (Organic, Conventional), By Distribution Channel (Hypermarkets & Supermarkets, Convenience Stores, Online, Others), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032

Honey Market Overview:

The global honey market size was USD 8,521 million in 2021. It is projected to increase at a CAGR of 4.6% from 2023 to 2032.

This honey market report gives an overview of the honey market growth, size, and other key factors.

Honey is a rich source of vitamins, minerals, and antioxidants which makes it an ideal sweetener choice for consumers. A prominent driver of the market is the high demand for nutritious products, as more people realize the benefits of honey and the importance of healthy living. Customers are opting for natural and healthy food products such as honey instead of white sugar usage.

The rise in health consciousness among consumers and growing awareness about the medicinal properties of honey due to the COVID-19 outbreak could make honey a major player. Because of its antibacterial properties, and viral and antifungal properties, bee maid honey is receiving wider acceptance and appreciation as an effective medicine to relieve acute cough infections and acute throat infections seen in corona-infected patients. Even after the end of the pandemic customers have a demand for immunity-boosting products, which can add to the profits of the market.

Honey intake helps to reduce blood sugar levels in the human body and it reduces cholesterol and improves lipid metabolism in our body. The rise in diabetic patients and the patients who are suffering from high obesity and cholesterol are constantly searching for healthy, nutritious, and natural alternative for sugar, so instead of artificial sweeteners products, consumer demands a source of honey.

Global Honey Market Scope:

Processing Analysis

The competitive landscape with the traditional segment had the largest revenue share, exceeding 78.1% in 2021. It is expected that it will continue to lead the market over the forecast period due to its lower price and wider availability compared to organic honey. The conventional segment will continue to grow as new flavors and exotic add-ons are introduced. Organics are expected to grow at 5.2% annually between 2023-2032, due to the rising trend in eating healthier among millennials. The market growth rate will be accelerated by the substitution of plant-based natural sweeteners with natural honey sweeteners in the future.

The availability of products, coupled with its ability to impart Key players in the market have huge market opportunities to grow because of the rising population and shift to honey sweeteners. The extensive supply of contaminated products in the local and global markets has resulted to be unprofitable for high-quality and pure product producers.

Distribution Channel Analysis

The largest revenue share was captured by hypermarkets & supermarkets, at over 42.3% in 2021. Increased penetration by independent retailers like Costco and Walmart is increasing product visibility and attracting a greater consumer base. These consumers prefer to inspect the product before they buy, which is increasing sales through this channel. Online distribution channels are expected to grow at 6.2% between 2023 and 2032. The shift in consumer purchasing patterns and significant lifestyle changes are driving consumers to switch from offline channels to online.

Online platforms are a great way to grow the segment. They offer convenience, better product visibility, and home delivery. Most consumers use virtual shops to navigate the vast array of products on offer and to find the return and exchange options that they need if they aren’t satisfied with the products. These stores offer greater accountability and superior customer service.

Кеу Маrkеt Ѕеgmеntѕ:

By Processing

• Conventional
• Organic

By Distribution Channel

• Convenience Stores
• Online
• Hypermarkets & Supermarkets
• Others

Market Dynamics:

Honey can be used to make jams, jelly, drinks, and other processed foods with different honey flavors. In addition, honey is becoming more popular as an ingredient for beauty products and health products. These products have a wide range of availability to find and have a pleasing taste that can be used in beverages and food. This has helped increase market demand. High-quality honey also has many medical benefits, such as the ability to increase metabolic activity, control blood sugar, lower diabetes risk, and treat burn wounds. Honey is used in many different applications, including food and beverages. It also has the potential to boost market growth including consumer preferences.

In the honey market, there is a good growth opportunity for businesses to expand honey for medicinal purposes and to improve the honey production process by consolidating advanced technologies.The increasing demand for honey as a healthier sweetener than refined sugar is a major key factor for the honey market. In order to reach a wider audience, product manufacturers are coming up with creative launches. Dabur introduced honey-infused syrups in July 2021. The product does not contain added sugar and is a healthier alternative to the traditional strawberry syrups or sugary chocolates.

Consumers have become more aware of their health and are now incorporating natural sweeteners into their diets as alternatives to sugar. They are an excellent ideal sweetener choice due to their antioxidant and antibacterial Properties. Market growth is also positively influenced by the product’s longer shelf-life and affordability.

Regional Analysis:

Europe held the largest share of revenue at 36.5% or more in 2021. It is expected that it will continue to lead the market over the forecast period. A rapidly improving economy as a result of rising disposable income, urbanization, and changing lifestyles will drive product demand in each region and increase market growth over the next few years. Asia Pacific is predicted to experience the greatest CAGR between 2023-2032. Market growth is being driven by consumers’ increased desire for healthy and delicious food habits.

Asia Pacific’s market is driven by well-established companies and the growing millennial population. Jedwards International, Inc., Koru Natural, and Pacific Resources International dominate the market. A rise in the consumption of honey and an increase in honey production are the main factors that will favor regional market growth.

Key Regions and Countries covered іn thе rероrt:

• North America
  • The United States
  • Canada
  • Mexico
• Europe
  • Germany
  • United Kingdom
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Competitive Landscape :

In the global honey market, prominent market players focus on different types of honey and its various products such as Beeyond the Hive, Barkman Honey LLC, Dabur India Ltd., Capilano Honey Ltd., New Zealand Honey Co., Oha Honey LP, Dutch Gold Honey Inc., Honey Limited, Dutch Gold Honey Inc., Comvita Limited, Bee Maid Honey Ltd.

Market Share & Key Players Analysis:

The global Honey market is fragmented. The market is dominated by a few large key companies and a few medium players. To be competitive in the market, key strategic initiatives are being taken by industry players such as product launches. Amul launched a brand new product in September 2021. It was developed by Gujarat Cooperative Milk Marketing Federation Ltd. Along with National Bee Board. The government now promotes beekeeping among small-scale farmers with this initiative.

Dabur is one of the largest Ayurvedic companies all over the India. Dabur India Ltd.’s entry into syrups and spreads was announced in July 2021 with the launch of ‘Dabur Honey Tasties. It is available in Strawberry or Chocolate. Conscious Food launched a raw, unprocessed Himalayan multiflora bee honey in May 2021. Conscious Food is a pioneer in Indian organic food products.

Маrkеt Кеу Рlауеrѕ:

• Beeyond the Hive
• Barkman Honey LLC
• Dabur India Ltd.
• Capilano Honey Ltd.
• New Zealand Honey Co.
• Streamland Biological Technology Ltd.
• Oha Honey LP
• Billy Bee Honey Products
• Comvita Ltd.
• Gold Honey Inc.
• Honey Limited
• Dutch Gold Honey Inc.
• Comvita Food Ltd.
• Comvita China Ltd.
• Other Key Players

For the Honey Market research study, the following years have been considered to estimate the market size: