The latest report by IMARC Group, titled “Honey Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on honey market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global honey market size reached US$ 8.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.2 Billion by 2028, exhibiting a growth rate (CAGR) of 5.3% during 2023-2028.
What are honey?
Honey is a thick, sweet, golden-colored liquid prepared by honey bees from the nectar of flowers. It is one of the oldest and most popular sweeteners in the world. It is composed primarily of fructose, glucose, and water, along with a variety of minerals, vitamins, and antioxidants. This unique combination of nutrients provides several health benefits, from improving digestive health to boosting the immune system. It is also an excellent energy source and is used as an effective natural sweetener in numerous foods and drinks. Additionally, it can also be used as a natural cough suppressant and throat soother, and is widely utilized to sweeten tea and other drinks. It is available in several varieties, including raw, unfiltered honey that contains pollen and other beneficial nutrients.
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What are the growth prospects and trends in the honey industry?
The growing health consciousness among the masses majorly drives the global market. Along with this, the rising awareness about the medicinal properties of honey across the globe is significantly supporting the market. This is encouraging leading manufacturers to expand their consumer base by launching different honey flavors, such as ajwain, tulsi, eucalyptus, and Jamun, which is acting as another growth-inducing factor. In addition, key players are investing in extensive research and development activities to improve extraction processes and introduce enhanced product variants, positively influencing the market. Moreover, the rapid expansion of organized distribution channels and the trend of online shopping are creating a positive market outlook. Some of the other factors driving the market include increasing consumption of honey and significant growth in the food and beverage sector.
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The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Barkman Honey LLC
- Bee Maid Honey Limited
- Beeyond the Hive
- Capilano Honey Ltd.
- Comvita Limited
- Dabur India Ltd.
- Dutch Gold Honey Inc.
- New Zealand Honey Co
- Oha Honey LP
- Patanjali Ayurved Limited
- Streamland Biological Technology Ltd
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Honey Market Segmentation:
Our report has categorized the market based on region, type, application and distribution channel.
Breakup by Type:
- Alfalfa Honey
- Date Honey
- Buckwheat Honey
- Acacia Honey
- Clover Honey
- Linden Honey
Breakup by Application:
- Food and Beverages
- Personal Care and Cosmetics
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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