Indian Honey Market Outlook 2023-2028:

The honey market in India size reached INR 23.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach INR 38.8 Billion by 2028, exhibiting a growth rate (CAGR) of 8.4% during 2023-2028.

Honey is a sweet, viscous, and golden-colored liquid produced in the honey sacs of bees from the nectar of flowers. It is a good source of antioxidants, vitamins, and minerals, such as niacin, thiamine, pantothenic acid, and riboflavin. It helps maintain good cholesterol levels, enhances memory and concentration, and strengthens the immune system. Besides this, as it has antibacterial, anti-microbial, and anti-inflammatory properties, honey is used as a natural sweetener in fermented beverages, wine, and other beverages across India.

India Honey Market Trends:

The rising prevalence of chronic medical ailments, such as diabetes, heart disease, and cancer, represents one of the key factors positively influencing the market in India. In addition, the escalating demand for immunity-boosting and health-improving products is offering lucrative growth opportunities to manufacturers. The rising utilization of honey in home remedies is also increasing the sales of honey in the country. Apart from this, scientific validation of the medicinal properties of honey and its rising usage in formulating medicines for the treatment of cough and acute throat infection on account of its antiviral, antifungal, and antibacterial properties is augmenting the market growth. Additionally, leading players are focusing on launching different product variants, which is propelling the market growth. Along with this, the Government of India (GoI) is introducing various training programs and mentoring services to educate farmers on the latest beekeeping practices. Furthermore, the expansion of organized distribution channels, such as supermarkets, hypermarkets, convenience stores, and general stores, along with the thriving e-commerce industry, is stimulating the market growth. Moreover, increasing investments by key players in research and development (R&D) activities to improve extraction processes are anticipated to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Indian honey market report, along with forecasts at the country and state level from 2023-2028. Our report has categorized the market based on flavor, seasonality, and distribution channel.

Breakup by Flavor:

• Multiflora Honey
• Eucalyptus Honey
• Ajwain Honey
• Sidr Honey
• Others
   

Multiflora honey represents the most popular flavor in India as it has antibacterial and anti-inflammatory properties that treat skin problems, reduce swelling, and heal wounds and burns.

Breakup by Seasonality:

• Autumn and Spring Season
• Winter Season
• Summer and Monsoon Season
   

Autumn and spring seasons dominate the market as it encourages the honeybees to ramp up egg-laying.

Breakup by Distribution Channel:

• Business to Consumer
• Business to Business
   

The business-to-consumer (B2C) currently represents the largest distribution channel as it offers easy accessibility to different products at affordable rates.

Breakup by State:

• Maharashtra
• Tamil Nadu
• Karnataka
• Punjab
• Rajasthan
   

Maharashtra enjoys a clear dominance in the market as most of the manufacturing facilities are established in the state.

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.

Report Coverage: