The latest report by IMARC Group, titled “Honey Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, finds that the global honey market size grew at a CAGR of 6% during 2015-2020. Honey is a sweet, viscous, dark golden-colored liquid that is obtained from the beehives. Bees produce honey using regurgitation and enzymatic activity of the nectar that churns out sugary secretions of plants and flowers. It contains high levels of monosaccharides, fructose and glucose, which provide sweetness. Honey can be stored for a long time due to its unique chemical composition and antiseptic and antimicrobial properties. It is also known to promote debridement and speed up the healing process by stimulating wound tissues.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Honey Market Trends:
The global honey market is primarily driven by the increasing demand for nutritious food products. Honey consists of various essential nutrients, including vitamins, minerals, antioxidants, and calcium, due to which it is used in both food and non-food applications. Apart from this, the growing awareness regarding the health benefits associated with the consumption of honey, such as improving metabolic activity, maintaining blood pressure levels, reducing the risk of diabetes, and healing burn wounds, is also contributing to the market growth. Furthermore, honey finds a wide variety of applications in the food and beverage, cosmetics, and pharmaceutical industries. It is also utilized as a replacement for sugar and artificial sweeteners and in the production of fermented beverages, wine and alcoholic drinks. Moreover, with the extensive research and development (R&D) activities, market players have introduced a variety of honey flavors like tulsi, ajwain, eucalyptus and jamun. On account of these factors, the market value is expected to continue its moderate growth during the forecast period (2021-2026).
- Based on the type, the market has been segmented into Alfalfa, date, buckwheat, acacia, clover, linden, and other types of honey.
- On the basis of the application, the market has been classified into food and beverages, personal care and cosmetics, pharmaceuticals, and others.
- The market has been categorized based on the distribution channel into supermarkets and hypermarkets, convenience stores, online stores, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being 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, and Streamland Biological Technology Ltd.
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