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I AgreeAnalysis of Honey Market covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Worldwide consumption of honey is anticipated to increase at a 5.4% CAGR and the market is expected to rise from a valuation of US$ 9.7 billion in 2023 to US$ 16.4 billion by the end of 2033.
Consumers are preferring the use of natural and organic sweeteners as compared to sugar and artificial sweeteners, and this trend has majorly influenced the demand for honey and is expected to drive demand in the future as well. The rising diabetic and obese population across the world is expected to primarily drive the consumption of honey and honey-based sweeteners as they are healthier alternatives to artificial sweetening agents.
The growing availability of organic honey, increasing awareness about its benefits, hike in demand for natural sweeteners, growing use of honey in drug production, rising adoption of healthy lifestyle trends, and longer shelf-life of honey are some of the key factors that are expected to boost honey shipments through 2033.
However, adulteration of honey to improve profitability is a serious issue that hinders market growth and is expected to impede honey consumption characteristics throughout the forecast period as well. The rising adoption of sweetening alternatives such as maple syrup and stevia is also anticipated to inhibit honey market development over the coming years.
Demand for honey in the Asia Pacific region is anticipated to rise at the fastest pace over the coming years owing to changing consumer preferences, rising production of pure honey, the growing availability of organic honey, and increasing disposable income of people in this region. India, China, Japan, and Korea are slated to be the prime markets in the APAC region through 2033.
A comprehensive regional analysis discussing all the key drivers, trends, opportunities, and challenges have been profiled in this updated honey market research survey by skilled analysts at Fact.MR, a market research and competitive intelligence provider.
Report Attributes |
Details |
Honey Market Size (2023) |
US$ 9.7 Billion |
Projected Market Value (2033F) |
US$ 16.4 Billion |
Global Market Growth Rate (2023-2033) |
5.4% CAGR |
Europe Market Share (2022) |
35% |
United States Market Growth Rate (2023-2033) |
6% CAGR |
Key Companies Profiled |
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“Israel-based New Honey Companies Could Change Global Honey Demand Outlook”
Israel is a leading start-up hub when it comes to honey and bees. The nation is home to some of the most innovative bee and honey solutions in the world and this is expected to create highly lucrative opportunities for aspiring honey manufacturers around the world.
Changing consumer preferences and rising demand for vegan products are also expected to provide an opportunistic setting for upcoming honey manufacturers over the coming years.
Incoming honey suppliers are also focusing on raising new capital and finance for their ventures to improve their business potential on a global scale.
“Rising Number of Beekeepers & High Import of Honey”
The United States is a major importer of honey and this makes it a highly rewarding market for honey suppliers and manufacturers as well. The apiculture industry in the country is flourishing at a rapid pace and this is expected to drive up the production of honey in the country and help in reducing the dependency on imports across the forecast period.
Growing obese and diabetic population, adoption of healthy lifestyles, rising awareness of benefits of honey consumption, and rising availability of organic honey are other factors that are expected to drive sales of honey in the United States at a CAGR of 6% from 2023 to 2033.
“Rising Disposable Income Expected to Drive Product Demand”
Consumer preferences in Japan and Korea are changing rapidly owing to globalization and this is expected to prominently influence honey consumption in the aforementioned countries over the coming years. Increasing disposable income and rising availability of raw honey products are other prospects that are expected to govern honey consumption in Korea through 2033.
Increasing demand for healthy sweeteners, growing geriatric population, and rising production of pure honey are key factors that drive honey demand in Japan throughout the forecast period.
“Changing Consumer Preferences and Rising Awareness of Benefits Associated with Organic Honey Consumption”
Consumers in Europe have been preferring natural and organic products for quite a while now and this trend has also influenced the demand for organic honey in this region. Rising adoption of healthy lifestyles, growing awareness of benefits of the organic honey, increasing availability of organic label honey products, and rising disposable income are other factors that are expected to drive the consumption of honey in this region.
Germany, France, and the United Kingdom are anticipated to be highly attractive markets for honey in the European region across the forecast period.
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“Conventional Honey Holds Dominant Market Share”
Based on nature, the market for honey is segmented into conventional and organic.
In 2022, conventional honey accounted for around 80% of the global market share and is expected to maintain a similar stance across the forecast period. High availability and low prices as compared to organic honey are prime factors that contribute to the high consumption of conventional honey around the world.
Increasing awareness about the benefits of organic honey, changing consumer preferences, and growing availability of organic honey at competitive pricing are factors that are expected to contribute to sales of organic honey in the future. Organic honey demand is predicted to rise at a faster CAGR than that of conventional honey through 2033.
Prime honey suppliers are following strategies that help them expand their market presence and improve sales potential. Mergers, acquisitions, and collaborations are some of the most popular strategies among established market players.
Honey providers are also launching new organic products to meet changing consumer demands across the world.
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In 2023, sales of honey are estimated to be valued at US$ 9.7 billion.
The demand for honey is estimated to account for US$ 16.4 billion by 2033.
Shipments of honey are expected to increase at 5.4% CAGR from 2023 to 2033.
Rising awareness of the benefits of honey, growing demand for natural sweeteners, and increasing diabetic population are key drivers for the market.
Wedderspoon Organic Inc., Dabur India Ltd., Capilano Honey Ltd., and Pastili Limited are key manufacturers of honey.