Global Honey Food Market 2017-2021

Overview of the global honey food market

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.

Competitive landscape and key vendors

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 -

• Barkman Honey
• Bee Maid Honey
• Beeyond the Hive
• Capilano Honey
• Comvita

Other prominent vendors in the market include Dabur, Dalian Sangdi Honeybee, Billy Bee Honey Products, Lamex Foods, Phondaghat Pharmacy, and Hi-Tech Natural Products.

Segmentation by product and analysis of the honey food market

• Table honey
• Cooking ingredient honey

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.

Segmentation by distribution channel and analysis of the honey food market

• Hypermarkets and supermarkets
• Convenience stores
• Specialty stores

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.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global honey food market?
• What are the key market trends impacting the growth of the global honey food market?
• What are the challenges to market growth?
• Who are the key vendors in the global honey food market?
• What are the market opportunities and threats faced by the vendors in the global honey food market?
• What are the trending factors influencing the market shares of the Americas, APAC, Europe, and MEA?
• What are the key outcomes of the five forces analysis of the global honey food market?

Technavio also offers customization on reports based on specific client requirement.

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• Global Jams Jellies and Preserves Market 2016-2020
• Global Fruit Spreads Market 2016-2020