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Honey Market

Honey Market

Honey Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2029

Honey Market
FACT4076MR
  • Sep-2019
  • List of Tables : 80
  • List of Figures : 160
  • 170 Pages
  • Food & Beverage

The Escalating Demand for Honey is Acting as ‘Nectar’ for Stakeholders

The prominent players in the honey market will hold a small share as the market is driven by the unorganized market players. The market across the all geographies is fragmented and captured by local and domestic manufacturers.

Honey is likely to witness worthwhile opportunities across the globe on the backdrop of the growing number of nutritive food applications and healthy food processing industries. Moreover, the rising usage of natural sweeteners in the organic confectionary and bakery products is expected to leave an optimistic impression on the honey market. The versatile and diverse flavor profile of honey is allowing it to make headway in confectionery where it is being used in flavored candies and chocolates.

A FactMR study predicts honey market to grow at a positive CAGR of 5.1% during the forecast period (2019 – 2029). Honey continues to witness augmented demand for healthy food applications across the globe.

global honey market competitive analysis

Healthcare and Medicinal Trends Shaping the Honey Market

With the sedentary and hectic lifestyle of consumers across the world becoming ubiquitous, the concerns of consumers regarding their health is increasing. Hectic lifestyles have taken time away from exercise, thus compelling consumers to opt for low sugar food items.

The belief that every organic and natural food is good and safe for health is prominently influencing the thought process of consumers across the world. Increasing awareness about different types of honey and health benefits of honey are causing an increase in demand for honey among health-conscious consumer base across the globe. Nutritious and medicinal characteristics of honey help in alleviating stress, and help in recovery from various health-issues like sleep disturbances, sore throat, cough cold, and diarrhea etc. Increasing awareness about these facts among the majority of consumers in the world is expected to boost the demand for honey in the global market.

During research, scientists have found that honey can decrease the upward flow of undigested food and stomach acids with the help of stomach lining and esophagus. The scientists have proven that honey can reduce the risk of gastrointestinal reflux disease (GERD).

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Futuristic Flavors and Innovative Processes Help Manufacturers Retain their Competitive Edge

With the increasing demand for honey owing to its health benefits, manufacturers are making efforts to improve the efficiency of the production processes. Global leaders are investing in R&D activities to develop advanced technologies to maintain beehives and produce honey with even better quality and purity.

With the motive of benefitting from the numerous lucrative opportunities, number of new entrants in the global market is increasing rapidly. Leading market players are developing a diverse range of research-driven honey and honey products in order to maintain a competitive edge in different regions.

In 2018, United States production of honey rose by 2% as the bee keeping rose by 4%, however the yield of the honey has risen 2% by volume as compared to 2017. For the production escalation, manufacturers are increasing the number of bee colonies in the facility along with bee hives.

The Omani beekeepers use a traditional honey producing process where the beehives are put in the trunk of a palm tree which creates a unique flavored honey. This is spurring the demand for Omani palm tree honey in the Middle Eastern market.

In Africa, local farmers in the region are encouraged to maintain pesticide-free orchards, and ultimately promise the authenticity of honey products produced in the African honey market. Manufacturers can benefit by smartly investing in Africa for the production of organic honey which has a huge demand across the globe.

Product Launches and Acquisitions Remain Top Strategies of Key Market Players

The onset of healthy diets has also extensively impacted the consumption of sugar products as consumers prefer low carb sugar products. Significant traction of this trend has immensely impacted the low sugar natural sweeteners, thus propelling the growth of honey market. These growing trends in the honey market are leading to the development of honey varieties and honey based products in the market.

Valeo Foods Group is a prominent market player and covers prominent share in the market with the wide range of honey and honey based products. The company has produced more than 26,000 Metric Tons of honey each year. In 2018, the company has acquired Tangerine Confectionary to support its confectionary business division.

Uren Food Group Ltd. is a one of the prominent market players focusing on providing various types honey and honey products. Uren’s Mono-floral honey comes with distinctive flavors and other qualities such as smell color and, texture. The flavor of Mono-floral honey includes Orange Blossom, Eucalyptus, Lavender, and Acacia. The Gale’s brand is specially recognized for providing honey products. The company sells Gale’s honey mainly in the 300g jars to capture the retail market in the Europe region.

Miller Honey Company sells its products through various local retail stores and even through online retail channels to reach last mile customers in the region. The local retail stores include Echo Valley Ranch, Newcastle Produce, and Placer Farm Supply.

Beechworth Honey Pty Ltd company develops and offers numerous honey products such as Bee warm almond honey, bee fruity scented ash honey, bee fruity blackberry honey, honey chocolate and hazelnut, honey for cheese, and honey ginger soda among others.

Few of the companies are developing a range of packaging solutions to attract consumers such as Paynes Bee Farm Ltd. It provides their produces in various forms to suit consumer needs.

The company offers their products in versatile packaging types such as squeeze bottles for the ease of consumers. The company offers honey of various types, including English honey, Organic honey, and Manuka honey. The company markets their products with a batch of pure and natural raw honey.

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Honey Market – Regional developments in the market

With the motive of benefitting from the numerous lucrative opportunities, number of new entrants in the global market is increasing rapidly. Leading market players are developing a diverse range of research-driven honey and honey products in order to maintain a competitive edge in different regions.

There are number of lucrative regions for the demand of honey where the demand is surging day by day. The per capita honey consumption in North American countries has increased in the recent past, which is also reflected in the increased honey import in the region. In North America, the honey manufacturers must comply with certification requirements such as Agricultural Marketing Service by USDA (United States Department of Agriculture) for the importers of honey, effective from March 2019. They also need to avoid honey extraction directly from bee hives, and restrict use of synthetic or non-synthetic substances in the honey production. Beverage industry is anticipated to witness significant growth in North America, especially in the natural drinks & beverages category. This is likely to increase the demand for honey in the region. The honey manufacturers in North America receive certification from the United States Department of Agriculture (USDA) to produce and label their honey products in the region.

honey market incremental opportunity

The Latin American honey market is primarily driven by the implementation of public-private partnerships in the beekeeping businesses in various countries of the region. For example, in Argentina, National Agricultural Research Institute (INTA) has established an association with other public entities in the beekeeping sector, which received an award for the most innovative public-private partnership in the Latin American and the Caribbean region during January 2017, by the Regional Fund for Agricultural Technology (FONTAGRO).

Europeans’ concerns for natural and organic food products have led several manufacturers to realign their ingredient procurement and processing methods. A considerable number of European consumers prefer to purchase honey labeled as “natural” and “organic”. Consumers’ demand and manufacturers’ response towards them is reflected in the increased shelf space for “natural” and “organic” labeled food products, including honey. European government spends more than US$ 110 Million for the promotion of honey, including campaigns for awareness about European quality schemes for honey.

East Asia is a leading region in the consumption of the region due to increased per capita consumption of honey in the China. In the recent past, China has emerged as one of the key countries actively focusing on growing its beekeeping industry with an objective of the growing domestic demand as well as expanding its honey export footprint. Besides, the use of honey in food and beverage applications, China uses them significantly in modern medicines. For instance, honey reduces the free oxygen radicals which in turn increases immunity and reduces the risk of cardiovascular diseases. Natural honey also has flavonoids which along with phenolic acids work together to provide antioxidant effects in the body.

Innovations incorporated in the beekeeping technology and honey production methods used by the manufacturers in the region are making an impact on the growth of South Asia honey market. National Bee Board has been working in India for the development of new initiatives to encourage new apiarists in the industry. The proposals, for subsidies for women groups to purchase bee hives and equipment from 40% to 50% has been in the process. The arrangements for training and education have been developed to further the cause of women empowerment. The initiatives will help increase overall production of honey in the South Asian market.

The Australian Honey Bee Industry Council has been actively working to develop sustainable economy for bee keeping and related ventures. The learning programs have been launched for proper education of the budding apiarist and workshops for providing information from new research and trends for established apiarists have been carried out. The work carried out by the associations will be a vital factor affecting the future of the Australian honey market.

Famous for its thickness consistency, sweet taste, and medicinal properties, honey produced in some of the Middle Eastern countries as well as some African countries is considered to be of the best quality. Middle Eastern countries, especially Turkey, Lebanon, and Yemen, are leading the honey market in the MEA region with consistently increasing production and demands for honey, over the past few years.

Honey Market: Segmentation

FactMR’s study has done the segmentation of honey market on the basis of nature, product, packaging format and sales channel

By Nature
  • Organic
  • Conventional
By Product
  • Clear Honey
  • Varietal Honey
  • Manuka Honey
  • Sourwood Honey
  • Buckwheat Honey
  • Rosemary Honey
  • Dandelion Honey
  • Eucalyptus Honey
  • Others
By Packaging
  • Glass Jars
  • Plastic Containers
  • Bulk Packaging
Sales Channels
  • Business to Business
  • Food & Beverages
  • Cosmetics & Personal Care
  • Pharmaceuticals
  • Business to Consumer

  • Modern Trade Channel
  • Convenience Stores
  • Online Retailers
  • Other Channels
By Region
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

Honey Market- Scope of the Report

Honey market study done by FactMR gives out exclusive information about how the market will grow during the forecast period 2019 to 2029. The study predicts crucial trends that are presently determining the growth of honey market. This newly published report sheds light on vital dynamics, such as the drivers, restraints and opportunities for key market players as well as emerging players associated with the manufacturing of honey. The report primarily conveys a summary of honey market, considering present and upcoming food and beverages industry scenarios, to reveal striking sides relating to the acceptance of honey across prominent regional markets.

A detailed assessment of honey supply chain analysis, business execution, and value chain analysis across the regional markets has been done in the report. A list of prominent companies operating in the honey market enhances the reliability of this comprehensive research study.

Honey Market: Report Summary

The study offers a comprehensive analysis on diverse features including demand, revenue generation and sales in honey market across the globe.

A comprehensive estimate on honey market has also considered the market estimates through an optimistic scenario, and a conservative scenario regarding sales of honey during the forecast period. Analysis and estimation of price point comparison by region with the global average price has been included in this study.

Honey Market: Analysis on Market Size Evaluation

Existing predictions of honey market, encompassing current as well as forthcoming likely values estimates, analysis on region-wise demand trends and price index have been assimilated in the report.

Market estimates at regional and global scale for honey is available in terms of “US$ Mn.” A Y-o-Y growth contrast on prominent honey market segments, along with the market attractiveness valuation computes has been incorporated in the report. Metrics mentioned above are also followed based on honey applications where honey witnesses a steady demand.

Honey Market: Scrutinized Assessment on Regional Segments

Weighted sections have been elaborated in the report on honey market, which deliver projection on the regional markets. These chapters enhance the regional macros (political economic, and business environment outlook), which are expected to have a momentous influence on the growth of honey market during the forecast period.

Country-specific valuation on demand for honey has been offered for each regional market, along with the market scope estimate and forecast, price index, price point assessment, and impact analysis of dynamics of prominence in regions and countries. For all regional markets Y-o-Y growth estimates have also incorporated in the report.

Honey Market: In-depth Analysis on Competitive Landscape

The report talks about the competition scenario of honey market, along with the profiles of prominent companies contributing to the market expansion. Essential and Up-to-date data as well as information correlated to the market performers, who principally engage in the production and supply of the honey, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits the report readers to take preemptive steps in advancing their businesses.

Company profiles have been combined in the report, which exert essentials such as product portfolio, along with an all-inclusive SWOT analysis on each player The company presence is mapped and presented through the matrix for all the prominent players of the market functioning in the honey market thus offering the readers with actionable insights, which helps in thoughtfully presenting market status, and predicting the competition levels in honey market.

Prominent companies operating in the global honey market, include Uren Food Group Ltd., Valeo Foods, Hain Daniels Group, Miller Honey Farms Inc., Beechworth Honey Pty Ltd., Paynes Bee Farm Ltd., Wholesome Sweeteners Inc., Wedderspoon Organic Inc., Dabur India Ltd., Royal-Bees EOOD, Adee Honey Farms LP, Pastili Limited, Capilano Honey Ltd and others.

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

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