Global Honey Market to Reach US$ 14.8 Billion by 2032, Fueled by Heightened Health Awareness Among Consumers

October 10, 2023 | Retail

According to the latest report by IMARC Group, titled “Honey Market Report by Type (Alfalfa Honey, Date Honey, Buckwheat Honey, Acacia Honey, Clover Honey, Linden Honey, and Others), Application (Food and Beverages, Personal Care and Cosmetics, Pharmaceuticals, and Others), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Stores, and Others), and Region 2024-2032,” the global honey market size reached US$ 9.3 Billion in 2023. Honey is a natural substance primarily made by honeybees from the nectar of flowering plants. Through a process involving foraging, enzymatic action, and evaporation, bees transform nectar into this viscous, sweet liquid. Stored within the honeycomb inside the beehive, honey serves as a vital energy source for the bee colony. Rich in fructose and glucose, it possesses inherent antibacterial, antifungal, and antioxidant properties, contributing to both its long shelf life and varied uses in traditional medicine. It also contains trace amounts of vitamins, minerals, and amino acids, making it more than just a simple sweetener. As a result, honey finds extensive applications in the food and beverage industries as a sweetening agent, flavor enhancer, and preservative. Beyond culinary uses, honey is rapidly gaining popularity as an ingredient in skincare products, owing to its moisturizing and antimicrobial qualities. At present, medical research is continuously investigating its potential benefits in wound care and as an anti-inflammatory agent.

Global Honey Market Trends:

A significant rise in consumer awareness about the adverse effects of artificial sweeteners and high sugar consumption is pushing people toward natural alternatives like honey, driving market growth. This trend is particularly evident among health-conscious consumers who value honey for its lower glycemic index, antioxidant properties, and potential health benefits. Additionally, the escalating prevalence of lifestyle-related diseases, such as diabetes and obesity, is compelling individuals to incorporate natural sweeteners into their diet. In line with this, the changing culinary trends are amplifying the demand for gourmet and exotic honey varieties, such as Manuka and Acacia, as flavor enhancers in both traditional and contemporary cuisines. Besides this, the growing practice of using honey as a key ingredient in the food and beverage industry has accelerated product adoption rates. Furthermore, the widespread integration of honey in the cosmetics and skincare industries due to its moisturizing and antibacterial properties is propelling market growth. Along with this, the increasing product demand in the pharmaceutical sector, where ongoing research is investigating the role of honey in wound care and anti-inflammatory applications, is supporting the market growth. Moreover, rising regulatory support promoting natural and organic products is further providing an impetus to the market. Sustainability concerns related to beekeeping and the supply chain are also shaping purchasing behaviors, as consumers are more inclined toward brands that adhere to ethical and sustainable practices. Apart from this, innovative packaging solutions and convenient e-commerce channels are making it easier for consumers to access various types of honey, thereby fueling market growth. Looking forward, the market value is projected to reach US$ 14.8 Billion by 2032, expanding at a CAGR of 4.4% during 2024-2032.

Market Summary:

  • Based on the type, the market has been classified into Alfalfa, date, buckwheat, acacia, clover, linden, and other types of honey. Amongst these, buckwheat honey accounts for the majority of the market share.
  • On the basis of the application, the market has been segmented into food and beverages, personal care and cosmetics, pharmaceuticals, and others. Currently, food and beverages hold the largest share in the market.
  • The market has been divided based on the distribution channel into supermarkets and hypermarkets, convenience stores, online stores, and others. Presently, supermarkets and hypermarkets exhibit a clear dominance in the market.
  • Region-wise, Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) holds the leading position in the market. Other major regions include North America (the United States and Canada), 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 also been analyzed, 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.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Type, Application, Distribution Channel, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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.
Customization Scope 10% Free Customization
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Global Honey Market to Reach US$ 14.8 Billion by 2032, Fueled by Heightened Health Awareness Among Consumers
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