Enjoy complimentary customisation on priority with our Enterprise License!
The honey market size is forecast to increase by USD 5.57 billion between 2022 and 2027, accelerating at a CAGR of 9.39%. The market is experiencing steady growth due to the rise in private-label products. These items, manufactured by one entity but marketed under another's brand, encompass a range of sectors including food, fashion, and personal care. These companies provide avenues for small businesses to engage as private label partners, accessing services such as in-house laboratories, label design, and industry knowledge. However, the market faces hurdles such as elevated production and transportation expenses, strict regulatory measures, and a diminishing count of honey bee colonies.
To learn more about this report, Download Report Sample
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. Operating their own stores allows manufacturers and distributors to plan their advertising, promotions, brand-building, training, and IT support budgets. This autonomy enables them to connect directly with consumers rather than relying on independent retailers. However, the rise of online distribution poses a challenge to offline product distributors. Online platforms like Amazon, eBay, and Flipkart offer diverse products with attractive combo offers and innovative packaging, potentially impeding the offline distribution channel's growth and trends in the forecast period.
Revenue Share by Offline Segment, 2017-2027
For more details on other segments, Download Sample Report
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. These countries, especially China, are prominent exporters. To address food safety concerns, major companies are prioritizing transportation and storage facilities and aiming to reduce food waste and minimize price increases along the supply chain.
India's market is on the rise, thanks to government investments and initiatives like the National Beekeeping and Honey Mission (NBHM) under the Atmanirbhar Bharat Abhiyaan. Significant funds have been allocated for NBHM projects, and the Indian government is investing in national beekeeping infrastructure, positively impacting the regional market. 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
To understand geographic trends Download Report Sample
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.
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 segment is increasingly seeking healthier alternatives to traditional sweeteners like white sugar and artificial sweeteners. 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.
The 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. 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.
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.
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 its 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 has 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 U.S. honey 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. |
We can help! Our analysts can customize this market research report to meet your requirements.
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.