Honey Market Analysis - APAC, Europe, North America, South America, Middle East and Africa - US, Turkey, Iran, China, Argentina - Size and Forecast 2023-2027

Honey Market Forecast 2023-2027

The honey market size is forecast to increase by USD 5.57 billion between 2022 and 2027, accelerating at a CAGR of 9.39%. A notable trend in the Honey Market is the surge in demand for organic honey and plant-based sweeteners, particularly among millennials and health-conscious consumers. This demographic group is progressively gravitating towards healthier options, veering away from conventional sweeteners such as white sugar and artificial substitutes. The surge in interest for organic honey reflects a broader shift towards natural and sustainable food choices, reflecting consumers' growing awareness of health and environmental concerns. As a result, the market is witnessing a significant uptick in the preference for plant-based sweeteners, shaping consumption patterns in the honey industry.

What will be the Size of the Honey Market During the Forecast Period?

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Market Segmentation

Honey is a Californian antidote to traditional marketing, a concept that prioritizes authenticity and fungal growth. The Antibacterial properties of Honey make it a valuable ingredient in various products, from cosmetics to food. The Treat concept is a crucial aspect of Honey marketing. Producers use a Proactive approach to reach consumers, employing various channels such as social media and content marketing. Honey's unique selling proposition lies in its ability to provide a personalized experience, making consumers feel valued and appreciated. Moreover, Honey's approach to marketing is based on a deep understanding of consumer behavior. Brands use data analysis to identify trends and preferences, allowing them to tailor their offerings to meet specific needs. Honey's Mineral and nutrient-rich properties make it a desirable taste choice for health-conscious consumers, further increasing its appeal. In conclusion, Honey marketing is a unique and effective approach that prioritizes authenticity, personalization, and a deep understanding of consumer behavior. By leveraging various marketing channels and data analysis, Honey brands can create a strong connection with their audience, leading to increased brand loyalty and sales

Offline Segment is Estimated to Generate the Highest Revenue

The offline segment was valued at USD 6.06 billion in 2017. In this sector, specialty stores provide a wide range of brands and product portfolios, either brand-specific or multi-branded, across their outlets. The market encompasses department stores, supermarkets, hypermarkets, convenience stores, and restaurants, with major retailers like Tesco, Walmart, and Target offering a variety of honey brands. These include Comvita, Nature Nate's, Savanah Bee Company, Mountain Ridge, and Wedderspoon. Traditional retail outlets employ branding and in-store discounts. In the modern landscape, online distribution channels have emerged, providing convenience and product visibility. Virtual stores offer at-home delivery of honey, royal jelly, wax, sugar, and alternatives like artificial sweeteners. The National Beekeepers Association plays a crucial role in regulating production and quality. Honey varieties range from Ayurvedic practices using buckwheat and alfalfa to clover honey in the Food & Beverage Industry and pharmaceutical applications. Key players in the sector include those specializing in honey and those offering it as a secondary product. Online platforms ensure easy access to a wide range of honey types and related products.

Revenue Share by Offline Segment, 2017-2027   

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By Type

The market, led by the conventional segment, caters to consumers seeking nutritional ingredients, including vitamins and minerals like calcium, in their diets. Honey's antioxidant properties, antibacterial, antiviral, and anti-fungal attributes make it a desirable taste addition to healthy lifestyles, particularly for treating conditions like acute cough and throat infections. Beverages, processed foods, jams, and jellies benefit from honey's versatility. However, the pasteurization process used in conventional honey production removes some nutritional benefits, such as essential minerals. Product manufacturers like Dabur offer honey-infused syrups and natural sweeteners, catering to various market segments. Affordability and a longer shelf-life contribute to the conventional segment's growth. Organic honey, with its focus on retaining nutritional benefits, appeals to millennials and adults seeking plant-based sweeteners. New flavors and product innovations, including honey-infused syrups from brands like Blenditup, Just Like Honey, and The Vegan Honey Company, cater to diverse consumer preferences. Hypermarkets and supermarkets, including Walmart and Costco, stock a wide range of honey products, making them easily accessible.

APAC Holds a Prominent Position

APAC is estimated to contribute 49% to the growth of the global market during the forecast period. In 2022, the APAC held the highest global share due to substantial production in countries like China, India, and Japan. The APAC honey market, driven by high production in China, India, and Japan, dominates the global market due to its nutritional benefits. Honey is rich in vitamins, minerals, calcium, and antioxidants, making it a desirable addition to a healthy lifestyle. Its antibacterial, antiviral, and anti-fungal properties help alleviate conditions like acute cough and throat infections. Honey is used in various applications, including beverages, processed foods, jams, and jellies. Product manufacturers like Dabur offer honey-infused syrups as natural sweeteners. With a focus on food safety, shelf-life, and affordability, key players plan strategies to minimize waste and price additions.

The conventional honey segment competes with organic honey and new flavors catering to millennials and adults. Plant-based sweeteners from brands like Blenditup, Just Like Honey, and Vegan Honey Company are gaining popularity. Honey is stocked in hypermarkets, supermarkets chains such as Walmart and Costco. However, the markets in Malaysia, South Korea, and Myanmar are still developing. While they have growth and forecasting potential, limited access to microfinancing, particularly in Myanmar and Thailand, may hinder their expansion during the forecast period.

Market Size, By Region, Global, 2017-2027

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Market Dynamics and Customer Landscape

One of the significant drivers propelling the market is the increasing consumer awareness regarding the health benefits of natural sweeteners and nutritional ingredients. With rising concerns about the adverse effects of artificial sweeteners and processed foods on health, consumers are turning towards alternatives like honey, which contains essential vitamins, minerals, and antioxidants. The demand for honey is further bolstered by its association with various health benefits, including its potential to alleviate throat infections, enhance metabolic activity, and regulate blood pressure. Additionally, the rise in health and beauty products incorporating honey as a key ingredient reflects the growing trend towards natural and organic formulations, driving the expansion of the honey market.Brands like Blenditup are capitalizing on this trend by offering innovative honey-based products and plant-based sweetener blends. Moreover, the growing awareness of the potential benefits of honey in promoting wound healing, reducing the risk of diabetes, and combating high cholesterol is fueling its adoption in both food and non-food applications, including cosmetics. As consumers prioritize natural and wholesome ingredients, the honey market is poised for continued growth, driven by its perceived health benefits and versatile applications across various industries.

Market Driver 

The global honey market is experiencing growth due to the rise in private-label products. These products, made by one company but sold under another's brand, span various industries like food, fashion, and personal careThe market is witnessing substantial growth, propelled by a variety of factors including the rising demand for private-label products. Companies offering honey products under different brands provide opportunities for small businesses to participate as private label partners, leveraging services like in-house laboratories and label design. This collaboration empowers small companies to develop branded products without significant initial investment, thereby reducing unit costs and stimulating market expansion. Moreover, the increasing awareness among consumers regarding the health benefits of natural sweeteners like honey drives the market forward.

The honey market is experiencing significant growth due to the increasing adoption of honey products in various food items and their medicinal properties. Consumers can now easily access honey and related products, such as royal jelly and beeswax, through online distribution channels, ensuring convenience and at-home delivery. Virtual stores and national beekeepers associations facilitate product visibility and availability. Honey comes in various types, including buckwheat, alfalfa, and clover honey, catering to diverse consumer preferences. The food and beverage industry and pharmaceutical industry are major consumers of honey and its derivatives, such as sugar substitutes, due to their nutritional value and antioxidant properties. Honey contains essential nutrients, antioxidants, and is effective against low blood pressure and wound healing. It is also used as a dietary supplement and in Ayurvedic practices. The market trend is expected to continue as consumers seek natural alternatives to artificial sweeteners.

With concerns about artificial sweeteners and their potential health risks, the preference for natural honey and plant-based sweeteners is on the rise, further boosting market growth. Additionally, the product's diverse applications across food, beverages, health and beauty products, and even wound care contribute to its expanding market presence.

Market Trends

Innovation in beekeeping is the primary trend in the global honey market. Over the past few decades, development assistance agencies have been trying to introduce innovations to stimulate development across the beekeeping industry. In the Food & Beverage and Pharmaceutical industries, the use of honey and related bee products has gained significant attention. Development assistance agencies and technology providers have introduced innovative solutions to enhance the honey market. These include online distribution channels, such as virtual stores, for convenience and at-home delivery. Product visibility has been improved through technology, making available bee pastures visible to beekeepers. Beemer's BeeHero software and Innovation Cloud's BeeWeb solution offer real-time data on bees, crops, and other details. Royal jelly, wax, and other bee products, including honey varieties like buckwheat, alfalfa, and clover, are now more accessible. The National Beekeepers Association and Ayurvedic practices continue to promote the benefits of honey and bee products. Despite the availability of artificial sweeteners, the demand for natural sweeteners like honey remains strong. 

Market Challenges

The high cost of production and transportation is a major challenge to the growth of the global honey market. The cost of maintaining and processing honey is higher than that of conventional honey. In the honey market, organic apiaries prioritize the use of organic land, natural timber or materials for beehives, and natural methods for filtration to ensure product purity. These practices increase production costs compared to conventional honey. Key expenses include bee farming, transportation, certification, and labeling. With the rise of online distribution channels, consumers seek convenience through at-home delivery and virtual stores. Honey varieties, such as royal jelly, wax, and different types like buckwheat, Alfalfa, and clover honey, cater to various industries, including Food & Beverage and Pharmaceutical. The National Beekeepers Association promotes organic practices and product visibility. Honey substitutes, such as sugar and artificial sweeteners, also impact market dynamics. Ayurveda, a traditional healthcare system, further boosts demand for organic honey.

Market Companies Overview

The Market is fragmented in nature. The research report also includes detailed analyses of the competitive landscape of the market and information about 15 companies, including:

Comvita Ltd., Dabur India Ltd., Dutch Gold Honey, Golden Acres Honey Products Ltd., Little Bee Impex, New Zealand Honey Co., Oha Honey LP, PA and SC Steens Ltd., Savannah Bee Co., Sioux Honey Association Crop., Sweet Harvest Foods Inc., Valeo Foods Ltd., Wedderspoon Organic Inc., McCormick and Co. Inc., and Patanjali Ayurved Ltd.

Market Analyst Overview

The Market is witnessing steady growth, driven by consumers' increasing inclination towards a healthy lifestyle and growing concerns about health risks associated with artificial sweeteners. Its antibacterial, antiviral, and anti-fungal properties make it a sought-after natural remedy for acute coughs, throat infections, and wound healing. In the US, it is a versatile ingredient used in beverages, processed foods, jams, jellies, and health and beauty products, catering to consumer demand for clean-label, natural sweeteners. Organic and plant-based sweeteners like those offered by brands such as Blenditup, Just Like Honey, and Vegan Honey Company are gaining traction, fueled by rising health consciousness. Online distribution channels offer a wide range of flavors, including strawberry flavor and chocolate flavor, enriched with essential vitamins and minerals like calcium and antioxidants. Despite challenges such as mineral depletion and obesity, they continue to be valued for their nutritional benefits, contributing to a growing market fueled by consumer preferences for natural, healthy alternatives. 

Honey serves as a sugar substitute and aids in preventing weight gain and regulating blood sugar levels. With its benefits for the immune system, they have seen increased demand, reflecting changing food consumption trends and a focus on immunity levels especially during the pandemic.

Health concerns continue to drive interest in honey, with consumers increasingly attracted to its antibacterial and antiviral properties. Within the market, various product manufacturers are tapping into this demand, offering innovations such as honey-infused syrups. However, one of the challenges in this market remains the shelf-life of honey-infused products, especially in the conventional segment. While conventional honey dominates the market, organic honey is gaining traction, appealing to health-conscious consumers.

Conscious Food is driving interest in raw unprocessed Himalayan multiflora honey, highlighting its purity and natural benefits. Meanwhile, companies like Bagrrys India offer Bagrry's Organic Wild Honey, tapping into the growing preference for organic products. Additionally, MeliBio and Better Foodie Brand are capitalizing on the demand for nutritious food products in the Global Organic Honey Market. Production, consumption, export, and import analyses reveal a robust market, with a positive price trend and steady growth in value (USD thousand) and volume (metric ton). The Natural Honey Market is expected to see a significant CAGR (Compound Annual Growth Rate) as consumers increasingly turn to sweet-flavored liquid food options.

Despite commercial processes such as filtration and pasteurization, which may alter some of honey's natural properties, the demand for wild bees and regular honey remains strong. Health benefits, including its potential to reduce risk factors for heart diseases like blood pressure and cholesterol, coupled with its rich nutrients, continue to attract consumers. Moreover, the high health benefits and pleasant flavor of honey make it a versatile ingredient in various food and beverage products. Accessibility and shelf life are crucial considerations for consumers, with honey's beeswax also finding applications in aromatherapy. As the market evolves, maintaining the balance between commercial processes and natural benefits will be essential to meet consumer expectations and sustain the growth of the global honey industry.

 

Market Scope
Report Coverage	Details
Page number	159
Base year	2022
Historic period	2017 - 2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 9.39%
Market growth 2023-2027	USD 5.57 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	8.32
Regional analysis	APAC, Europe, North America, South America, and Middle East and Africa
Performing market contribution	APAC at 49%
Key countries	US, Turkey, Iran, China, and Argentina
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Alpalair Wellness Pvt. Ltd., Barkman Honey LLC, Bee Maid Honey Ltd., Beeyond The Hive LLC, Capilano Honey Ltd., Comvita Ltd., Dabur India Ltd., Dutch Gold Honey, Golden Acres Honey Products Ltd., Little Bee Impex, New Zealand Honey Co., Oha Honey LP, PA and SC Steens Ltd., Savannah Bee Co., Sioux Honey Association Crop., Sweet Harvest Foods Inc., Valeo Foods Ltd., Wedderspoon Organic Inc., McCormick and Co. Inc., and Patanjali Ayurved Ltd.
Market dynamics	Parent market analysis, market growth and trends, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, market analysis and report, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.
Customization purview	If our market forecast report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market research and growth of the market between 2023 and 2027
• Precise estimation of the size of the market  size and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market trends market trends and analysis and market growth analysis and changes in consumer behaviour
• Growth of the market industry across APAC, Europe, North America, South America, and Middle East and Africa
• Thorough market growth and forecasting analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market report analysis of factors that will challenge the growth of market companies

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