The global honey market grew at a CAGR of around 6% during 2015-2020. Honey is a thick, sweet and golden-colored liquid produced by bees using the nectar of flowering plants. It is a rich source of antioxidants and essential vitamins and minerals, such as thiamine, niacin, pantothenic acid and riboflavin. Regular consumption of honey aids in strengthening the immune system, improving good cholesterol levels, nourishing the skin and enhancing memory and concentration. Honey is also used as a natural sweetener and for the production of fermented beverages, wine and other alcoholic drinks. As a result, it finds extensive application in the manufacturing of food and beverages, pharmaceuticals, cosmetics and personal care products.
Significant growth in the food and beverage industry across the globe represents one of the key factors creating a positive outlook for the market growth. Moreover, rising health consciousness among the consumers and awareness regarding the medicinal properties of honey are also driving the market growth. Honey improves the efficacy of various pharmaceutical products, such as lozenges and cough syrups, and can be applied topically to heal burn wounds. In line with this, the antioxidants and flavonoids in honey can reduce oxidative stress and inflammation in the body, thereby minimizing the risks of developing cancer and cardiovascular disorders. Additionally, various product innovations, such as the manufacturing of flavored honey using sustainably-sourced dates, flowers, lindens and acacias, are acting as other growth-inducing factors. Product manufacturers are also using aesthetically-appealing packaging solutions and undertaking aggressive promotional activities to attract a wider consumer base. Other factors, including rising expenditure capacities of the consumers, along with extensive research and development (R&D) activities to improve the extraction processes and the easy product availability through proliferating online retail channels, are anticipated to drive the market growth further. Looking forward, IMARC Group expects the global honey market to continue its moderate growth during the next five years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global honey market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, type, application and distribution channel.
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The competitive landscape of the industry has also been examined along with the profiles 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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