Honey Market Forecasts to 2028 – Global Analysis By Product (Alfalfa Honey, Acacia Honey, Wildflower Honey, Buckwheat Honey, Clear Honey, Varietal Honey, Manuka Honey, Sourwood Honey, Rosemary Honey, Dandelion Honey, Eucalyptus Honey, Clover honey, Date H

Honey Market Forecasts to 2028 – Global Analysis By Product (Alfalfa Honey, Acacia Honey, Wildflower Honey, Buckwheat Honey, Clear Honey, Varietal Honey, Manuka Honey, Sourwood Honey, Rosemary Honey, Dandelion Honey, Eucalyptus Honey, Clover honey, Date Honey and Other Honey), Processing (Organic and Conventional), Distribution Channel(Convenience Stores, Hypermarkets & Supermarkets, Online and Other Distribution Channels), Packaging(Glass Jar, Bottle, Tub, Tube and Other Packaging), Application and By GeographyAccording to Stratistics MRC, the Global Honey Market is accounted for $ 10.41 billion in 2022 and is expected to reach $ 17.85 billion by 2028 growing at a CAGR of 9.4% during the forecast period. Honey is a viscous, sweet edible material made by bees and other insects. While other insects manufacture honey by regurgitation and enzymatic activity, bees make it from the sweet plant secretions and store it in honeycomb. Due to its distinct chemical makeup and storage capabilities, it is appropriate for long-term storage. Due to its antibacterial qualities, which encourage debridement and speed up the healing process by stimulating wound tissues, it is commonly employed.

According to the Food and Agriculture Organization of the United Nations (FAO), China is one of the largest exporter of honey in terms of volume and exported 145.89 thousand tonnes of honey in 2021. In terms of value of honey exports, New Zealand stood at first position with a total honey export value of USD 327.15 million in 2021. The real Manuka honey is majorly exported from New Zealand which has unique properties and preferred by the premium consumers.

Market Dynamics:

Driver:

Growing utilization of the product in drug production to support market growth

Honey has potential medicinal effects since it contains a variety of minerals, amino acids, enzymes, and other nutritional components. As a result, it is becoming increasingly popular in the pharmaceutical sector. Due to the product's antimicrobial qualities and demulcent capabilities, it has become a popular ingredient in cough syrups. Honey is important in the treatment of many diseases and health issues. This is one of the major factors driving the global market growth.

Restraint:

Rising adulteration of the product to hamper market growth

Adulteration and fraud incidences have emerged as one of the market's main problems in recent years, seriously impacting the price of the item and negatively hurting the market's growth and development. It has emerged as the third most targeted food for adulteration after milk and olive oil, according to the U.S. Pharmacopeia's Food Fraud information database. There aren't enough advantages for good and pure product makers as a result of the large supply of contaminated goods in local and international business sectors.

Opportunity:

Increasing demand for natural sweeteners to play a significant role in product growth

Honey is increasingly being promoted as an excellent option for refined sugar due to its numerous health benefits. In order to limit their use of white/refined sugar—which promotes obesity, diabetes, and heart disease—health aware customers are adding natural sweetener ingredients to their diet foods. In addition to having important minerals and vitamins and antibacterial and antioxidant qualities, natural sweeteners are a great alternative for sweeteners. The product's extended shelf life and high affordability are additional significant elements that favorably affect the market growth rate.

Threat:

Diabetes, obesity, and high cholesterol are all prevalent

An important issue limiting the growth of the global market is the rising prevalence of serious health disorders like diabetes, obesity, and elevated cholesterol. The risk of cardiac arrest and stroke may be raised by excessive honey consumption due to elevated blood glucose levels and weight gain. As a result, the growing disbelief in honey consumption as a result of its sugar profile and the negative effects of honey consumption on diabetic patients when treating open wounds hinder the expansion of the global market.

Covid-19 Impact

The COVID 19 pandemic has had a significant effect on the honey market, hindering beekeepers and other individuals who operate in the sector. But many people have showed a tendency for honey eating because of its health advantages. They have been consuming more honey to protect their health. The market is anticipated to display strong performance as a result of people's modified consumption patterns, according to the comprehensive prediction for the honey sector. Customers are expected to develop a health-conscious mindset and choose natural, nutritious foods like honey rather than unwholesome things like sugar. It might have a favorable impact on how well the world market performs.

The conventional segment is expected to be the largest during the forecast period

Based on the processing, the market is classified into Organic and Conventional. The conventional segment is projected to control the global honey market and most liable explanation for the majority of the share during the forecast period. Due to the fact that it is more readily available and less expensive than organic honey. Additionally, in response to shifting customer needs, new flavors with exotic additions are increasingly being added to traditional products, which are anticipated to support the conventional segment.

The online segment is expected to have the highest CAGR during the forecast period

Based on the distribution channel, the market is segmented into Convenience Stores, Hypermarkets & Supermarkets, Online and Others. The online segment is captured to be more profitable and predicted to record a strong CAGR during the forecast period. Manufacturers are now able to use promotional tactics to appeal to consumers thanks to the growing trend of digital media. Amazon, Rakuten, Grofers, and Walmart are significant players in the market. Online shops often provide a variety of discounts and promo codes to boost sales.

Region with highest share:

Europe is anticipated to hold the highest share during the forecast period. A fast developing economy as a result of increased disposable income, urbanisation, and changing lifestyles is expected to fuel product demand in the respective region, consequently augmenting total market growth in the coming years.

Region with highest CAGR:

The Asia Pacific honey market is one of the fastest-growing regions and also records highest CAGR during the forecast period. This is due to the increase in production volume of honey and the rise in honey consumption among people. Market expansion is being fueled by consumers' growing preference for wholesome and delicious eating habits.

Key players in the market

Some of the key players profiled in the Honey Market include Beeyond the Hive, Dabur India Ltd., Patanjali Ayurved, Capilano Honey Ltd., Barkman Honey, LLC., New Zealand Honey Co., Oha Honey LP, Bee Maid Honey Ltd., Streamland Biological Technology Ltd., Dutch Gold Honey, Inc., Golden Acres Honey Products Ltd., HoneyLab Ltd., PA & SC Steens Ltd., Polar-Honey Finland (Lappi-Hunaja), Rowse Honey Limited, Savannah Bee Company, Sweet Harvest Foods Inc., Yanbian Baolixiang Beekeeping Co., Ltd., Zhejiang Jiangshan Bee Enterprise Co., Ltd

Key Developments:

In January 2022, Sweet Harvest Foods Inc., one of the leading manufacturers of honey and other natural sweeteners, acquired McKinney-based Nature Nate’s Honey Co. Nature Nate’s offers 100% pure, raw & unfiltered honey to consumers through retail shops across the nation.

In July 2021, Dabur announced its entry into the syrups and spreads segment by launching ‘Dabur Honey Tasties.’ This new product is launched in two flavors - Strawberry and Chocolate.

In June 2020, Capilano Honey Limited announced its new product, a low Glycemic Index (GI) honey. The product claims to be of great significance for people on low GI diets and consumers looking to reduce their sugar intake

Product Covered:
• Alfalfa Honey
• Acacia Honey
• Wildflower Honey
• Buckwheat Honey
• Clear Honey
• Varietal Honey
• Manuka Honey
• Sourwood Honey
• Rosemary Honey
• Dandelion Honey
• Eucalyptus Honey
• Clover honey
• Date Honey
• Other Honey

Processing Covered:
• Organic
• Conventional

Distribution Channel Covered:
• Convenience Stores
• Hypermarkets & Supermarkets
• Online
• Other Distribution Channels

Packaging Covered:
• Glass Jar
• Bottle
• Tub
• Tube
• Other Packaging

Application Covered:
• Cosmetics
• Food & Beverages
• Pharmaceuticals
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances