Market Outlook 2021-2026:
The honey market in India reached a value of INR 19.2 Billion in 2020. Looking forward, IMARC Group expects the market to exhibit strong growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.
Beekeeping has been one of the oldest activities in India. This makes it one of the leading honey markets in the world which has created an intense competition in terms of innovation and cost. Additionally, the demand for honey in India is augmenting on account of the growing consumer preference for natural and healthy alternatives of artificial sweeteners, rising awareness regarding the benefits of honey and increasing popularity of various honey flavors. In addition, owing to its proven anti-bacterial, anti-microbial and anti-inflammatory properties, honey is projected to gain a momentum in both the food and non-food applications across the country.
Indian Honey Industry Drivers:
- Honey is a rich source of antioxidants and flavonoids which can reduce oxidative stress and inflammation in the body while protecting against heart diseases and cancer. Apart from this, honey also has antibacterial and antiseptic qualities that accelerate wound and burn healing by providing a moist environment and increasing the flow of nutrients to the affected area. Owing to these factors, the demand for honey has gained traction for home remedies.
- Honey is available in different flavors depending upon the flowers used by the bees to produce it. As a result, there is a diverse range of honey products currently available in India which find applications in the food and beverage, cosmetic and pharmaceutical industries.
- The Government has been supporting the production of honey in India by granting help in developing business through commercialization, R&D activities, innovation and exporting. These initiatives support the producers by advisory and mentoring services, organizing workshops and seminars, general and industry-specific training and providing subsidized products, such as business planning tools.
- Scientific validation of the medicinal utilization of honey and its growing value as a premium ingredient in nutraceuticals are also acting as strong market drivers.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Indian honey market, along with forecasts for growth at the India and state level from 2021-2026. Our report has categorized the market based on state, flavor, seasonality, and distribution channel.
Breakup by Flavor:
- Multiflora Honey
- Eucalyptus Honey
- Ajwain Honey
- Sidr Honey
- Others
On the basis of flavors, multiflora honey is the most popular type of honey flavor in India. Other major flavor types include eucalyptus honey, ajwain honey, sidr honey and others.
Breakup by Seasonality:
- Autumn and Spring Season
- Winter Season
- Summer and Monsoon Season
Based on seasonality, the report finds that the autumn and spring seasons dominate the market. They are followed by the winter, summer and monsoon seasons.
Breakup by Distribution Channel:
- Business to Consumer
- Business to Business
On the basis of distribution channels, the market has been categorized as business to consumer and business to business segments. Currently, the business to consumer segment represents the largest distribution channel.
Breakup by State:
- Maharashtra
- Tamil Nadu
- Karnataka
- Punjab
- Rajasthan
Based on states, Maharashtra enjoys the leading position in the market as most of the manufacturing facilities are located in the state. Some of the other major markets include Tamil Nadu, Karnataka, Punjab and Rajasthan.
Competitive Landscape:
The honey market in India is highly fragmented in nature owing to the presence of a large number of manufacturers. The report provides the leading companies operating in the Indian honey market.
- Dabur
- Patanjali
- Apis India
- Emami Limited
- Hitkary Pharmacy Private Limited
- Reliance Retail Limited
- Shree Baidyanath Ayurved Bhawan Pvt. Ltd.
- Kejriwal Bee Care India Pvt. Ltd.
- Bharat Honey
- Under The Mango Tree
This report provides a deep insight into the Indian honey market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the honey industry in any manner.
Key Questions Answered in This Report:
The Indian honey market size was valued at INR 19.2 Billion in 2020.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulation in the country resulting in temporary halt on movement of various non-essential commodities, thereby negatively impacting the overall market for honey.
According to the estimates by IMARC Group, the Indian honey market is expected to witness a strong growth during 2021-2026.
High floral diversity and wide availability of variety of bee forages in the country are some of the key drivers for the Indian honey market.
The Government of India is introducing numerous the major trends training programs, and advisory and mentoring services to educate farmers on the latest and advanced beekeeping techniques, representing one of the key trends in the Indian honey market.
On the basis of the flavors, the market has been bifurcated into multiflora honey, eucalyptus honey, ajwain honey, Sidr honey, and others. Currently, multiflora honey holds the majority of the total market share.
On the basis of the seasonality, the market has been divided into autumn and spring seasons, winter season, summer season, and monsoon season. At present, the autumn and spring seasons exhibit a clear dominance in the market.
On the basis of the distribution channel, the market has been categorized into business-to-consumer and business-to-business segments. Among these, the business-to-consumer segment holds the majority of the total market share.
States-wise, the market has been classified into Maharashtra, Tamil Nadu, Karnataka, Punjab, and Rajasthan, where Maharashtra dominates the Indian honey market.
The key companies in the Indian honey market are Dabur, Patanjali, Apis India, Emami Limited, Hitkary Pharmacy Private Limited, Reliance Retail Limited, Shree Baidyanath Ayurved Bhawan Pvt. Ltd., Kejriwal Bee Care India Pvt. Ltd., Bharat Honey, Under The Mango Tree, etc.
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
2.6 Study Assumptions
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Indian Honey Market
5.1 Market Overview
5.2 Market Performance
5.2.1 Organized Honey Market
5.2.2 Unorganized Honey Market
5.3 Impact of COVID-19
5.4 Market Breakup by Distribution Channel
5.5 Market Breakup by Flavor
5.6 Seasonality in Indian Honey Market
5.7 Market Breakup by State
5.8 Market Forecast
5.8.1 Organised Honey Market
5.8.2 Unorganised Honey Market
5.9 SWOT Analysis
5.9.1 Strengths
5.9.2 Weaknesses
5.9.3 Opportunities
5.9.4 Threats
5.10 Value Chain Analysis
5.11 Porter’s Five Forces Analysis
5.11.1 Overview
5.11.2 Bargaining Power of Buyers
5.11.3 Bargaining Power of Suppliers
5.11.4 Degree of Rivalry
5.11.5 Threat of New Entrants
5.11.6 Threat of Substitutes
6 Market Breakup by Distribution Channel
6.1 Business to Consumer
6.1.1 Market Performance
6.1.2 Market Breakup by Sales Channel
6.1.2.1 General Trade
6.1.2.2 Modern Trade Facilities
6.1.2.3 E-Commerce
6.1.3 Performance of Key SKU
6.1.4 Market Forecast
6.2 Business to Business
6.2.1 Market Performance
6.2.2 Market Breakup by End-Use
6.2.2.1 Food and Beverage
6.2.2.2 Pharmaceuticals
6.2.2.3 Cosmetics
6.2.3 Performance of Key SKU
6.2.4 Market Forecast
7 Market Breakup by Flavor
7.1 Multiflora Honey
7.1.1 Market Performance
7.1.2 Market Forecast
7.2 Eucalyptus Honey
7.2.1 Market Performance
7.2.2 Market Forecast
7.3 Ajwain Honey
7.3.1 Market Performance
7.3.2 Market Forecast
7.4 Sidr Honey
7.4.1 Market Performance
7.4.2 Market Forecast
7.5 Others
7.5.1 Market Performance
7.5.2 Market Forecast
8 Seasonality in Indian Honey Market
8.1 Autumn and Spring Season
8.2 Winter Season
8.3 Summer and Monsoon Season
9 Market Breakup by State
9.1 Maharashtra
9.1.1 Market Performance
9.1.2 Market Forecast
9.2 Tamil Nadu
9.2.1 Market Performance
9.2.2 Market Forecast
9.3 Karnataka
9.3.1 Market Performance
9.3.2 Market Forecast
9.4 Punjab
9.4.1 Market Performance
9.4.2 Market Forecast
9.5 Rajasthan
9.5.1 Market Performance
9.5.2 Market Forecast
10 Competitive Landscape
10.1 Competitive Structure
10.2 Key Players
11 Case Study: Patanjali Honey
12 Profile of Key Players
12.1 Dabur
12.2 Patanjali
12.3 Apis India
12.4 Emami Limited
12.5 Hitkary Pharmacy Private Limited
12.6 Reliance Retail Limited
12.7 Shree Baidyanath Ayurved Bhawan Pvt. Ltd.
12.8 Kejriwal Bee Care India Pvt. Ltd.
12.9 Bharat Honey
12.10 Under The Mango Tree
List of Figures
Figure 1: India: Honey Market: Major Drivers and Challenges
Figure 2: India: Honey Market: Sales Value (in Billion INR), 2015-2020
Figure 3: India: Organized Honey Market: Sales Value (in Million INR), 2015-2020
Figure 4: India: Unorganized Honey Market: Sales Value (in Million INR), 2015-2020
Figure 5: India: Honey Market: Breakup by Distribution Channel (in %), 2020
Figure 6: India: Honey Market: Breakup by Flavor (in %), 2020
Figure 7: India: Honey Market: Breakup by Seasonality (in %), 2020
Figure 8: India: Honey Market: Breakup by States (in %), 2020
Figure 9: India: Honey Market Forecast: Sales Value (in Billion INR), 2021-2026
Figure 10: India: Organized Honey Market Forecast: Sales Value (in Million INR), 2021-2026
Figure 11: India: Unorganized Honey Market Forecast: Sales Value (in Million INR), 2021-2026
Figure 12: India: Honey Industry: SWOT Analysis
Figure 13: India: Honey Industry: Value Chain Analysis
Figure 14: India: Honey Industry: Porter’s Five Forces Analysis
Figure 15: India: Honey Market (Business to Consumer): Sales Value (in Million INR), 2015-2020
Figure 16: India: Honey Market (Business to Consumer): Breakup by Sales Channel (in %), 2020
Figure 17: India: Honey Market (Business to Consumer): Sales through General Trade (in Million INR), 2015-2020
Figure 18: India: Honey Market (Business to Consumer) Forecast: Sales through General Trade (in Million INR), 2021-2026
Figure 19: India: Honey Market (Business to Consumer): Sales through Modern Trade Facilities (in Million INR), 2015-2020
Figure 20: India: Honey Market (Business to Consumer) Forecast: Sales through Modern Trade Facilities (in Million INR), 2021-2026
Figure 21: India Honey Market (Business to Consumer): Sales through E-Commerce (in Million INR), 2015-2020
Figure 22: India: Honey Market (Business to Consumer) Forecast: Sales through E-Commerce (in Million INR), 2021-2026
Figure 23: India: Honey Market (Business to Consumer) Forecast: Sales Value (in Million INR), 2021-2026
Figure 24: India: Honey Market (Business to Business): Sales Value (in Million INR), 2015-2020
Figure 25: India: Honey Market (Business to Business): Breakup by End-Use (in %), 2020
Figure 26: India: Honey Market (Business to Business- Food and Beverage): Sales Value (in Million INR), 2015-2020
Figure 27: India: Honey Market (Business to Business- Food and Beverage) Forecast: Sales Value (in Million INR), 2021-2026
Figure 28: India: Honey Market (Business to Business- Pharmaceuticals): Sales Value (in Million INR), 2015-2020
Figure 29: India: Honey Market (Business to Business- Pharmaceuticals) Forecast: Sales Value (in Million INR), 2021-2026
Figure 30: India: Honey Market (Business to Business- Cosmetics): Sales Value (in Million INR), 2015-2020
Figure 31: India: Honey Market (Business to Business- Cosmetics) Forecast: Sales Value (in Million INR), 2021-2026
Figure 32: India: Honey Market (Business to Business): Breakup by Key SKU (in %), 2020
Figure 33: India: Honey Market (Business to Business) Forecast: Sales Value (in Million INR), 2021-2026
Figure 34: India: Honey Market (Multiflora): Sales Value (in Million INR), 2015-2020
Figure 35: India: Honey Market (Multiflora) Forecast: Sales Value (in Million INR), 2021-2026
Figure 36: India: Honey Market (Eucalyptus): Sales Value (in Million INR), 2015-2020
Figure 37: India: Honey Market (Eucalyptus) Forecast: Sales Value (in Million INR), 2021-2026
Figure 38: India: Honey Market (Ajwain): Sales Value (in Million INR), 2015-2020
Figure 39: India: Honey Market (Ajwain) Forecast: Sales Value (in Million INR), 2021-2026
Figure 40: India: Honey Market (Sidr): Sales Value (in Million INR), 2015-2020
Figure 41: India: Honey Market (Sidr) Forecast: Sales Value (in Million INR), 2021-2026
Figure 42: India: Honey Market (Other Flavours): Sales Value (in Million INR), 2015-2020
Figure 43: India: Honey Market (Other Flavours) Forecast: Sales Value (in Million INR), 2021-2026
Figure 44: Maharashtra: Honey Market: Sales Value (in Million INR), 2015-2020
Figure 45: Maharashtra: Honey Market Forecast: Sales Value (in Million INR), 2021-2026
Figure 46: Tamil Nadu: Honey Market: Sales Value (in Million INR), 2015-2020
Figure 47: Tamil Nadu: Honey Market Forecast: Sales Value (in Million INR), 2021-2026
Figure 48: Karnataka: Honey Market: Sales Value (in Million INR), 2015-2020
Figure 49: Karnataka: Honey Market Forecast: Sales Value (in Million INR), 2021-2026
Figure 50: Punjab: Honey Market: Sales Value (in Million INR), 2015-2020
Figure 51: Punjab: Honey Market Forecast: Sales Value (in Million INR), 2021-2026
Figure 52: Rajasthan: Honey Market: Sales Value (in Million INR), 2015-2020
Figure 53: Rajasthan: Honey Market Forecast: Sales Value (in Million INR), 2021-2026
Figure 54: India: Honey Market: Breakup by Key Players (in %), 2020
List of Tables
Table 1: India: Honey Market: Key Industry Highlights, 2020 and 2026
Table 2: India: Honey Market Forecast: Breakup by Distribution Channel (in Million INR), 2021-2026
Table 3: India: Honey Market (Business to Consumer): SKU Offered by Dabur
Table 4: India: Honey Market (Business to Consumer): SKU Offered by Patanjali
Table 5: India: Honey Market (Business to Consumer): SKU Offered by Apis India
Table 6: India: Honey Market (Business to Consumer): Sales Value of Key SKU (in INR Million), 2020
Table 7: India: Honey Market Forecast: Breakup by Flavor (in Million INR), 2021-2026
Table 8: India: Honey Market Forecast: Breakup by State (in Million INR), 2021-2026
Table 9: India: Honey Market: Competitive Structure
Table 10: India: Honey Market: Key Players