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According to Technavio’s analyst, the global honey food market is anticipated to grow at a steady rate and will post a CAGR of more than 6% during the forecast period. The growing number of innovations in the process of honey harvesting will drive the growth prospects for the global honey food market until the end of 2021. The market is witnessing a high degree of innovations in the process of honey harvesting devised by the research and development divisions to improve and increase the quantity and quality of the final product harvested. For instance, BeeInventive invented a new technology in 2015 called Flow Hive, which simplifies the process of honey harvesting. Moreover, the increasing number of software to monitor the strength and health of hives using passive infrared sensors and allowing beekeepers to track, optimize hive productivity, hive health remotely, and security will propel the global honey food market’s growth in the coming years.
In terms of geography, the Americas accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. Some of the major factors responsible for the growth in the demand for honey in the Americas includes the growing awareness in terms of health benefits of honey and the increasing number of health-conscious people.
The global honey food market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. Some of the major factors that affect the performance of the manufacturers in the global honey market include the changing preference of consumers, regional, national, and local economic conditions and demographic trends. According to the honey market forecast, these vendors are increasingly competing against each other based on factors such as price, quality, innovation, reputation, and distribution.
Key vendors in this market are -
Other prominent vendors in the market include Dabur, Dalian Sangdi Honeybee, Billy Bee Honey Products, Lamex Foods, Phondaghat Pharmacy, and Hi-Tech Natural Products.
Based on the honey market industry analsyis, the table honey segment accounted for the majority market shares during 2016 and will continue to dominate the market for the next four years. One of the major factors responsible for the market segment’s growth is the growing preference for table honey benefits as a healthier food option than jams and syrups among the health-conscious population. In addition, table honey is used as a spread on bread and other food products, as a sweetener, and as a sugar substitute such as in the European countries. This will have a positive impact on the honey market growth.
The hypermarkets and supermarkets accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. Some of the major factors responsible for the growing preference for hypermarkets and supermarkets is the availability of multiple options and varieties of honey from various brands, in-store promotions by retailers, and price comparisons. Also, the growing number of hypermarkets and supermarkets in various developing economies will boost the honey market share and size and accelerate the rate of revenue generation in the market.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Market segmentation by distribution channel
PART 08: Geographical segmentation
PART 09: Key leading countries
PART 10: Market drivers
PART 11: Impact of drivers
PART 12: Market challenges
PART 13: Impact of drivers and challenges
PART 14: Market trends
PART 15: Vendor landscape
Tags: healthy food, organic food, cooking food, food service industry, food and beverage market forecast, food market size,
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