Honey Market by Type (Alfalfa, Buckwheat, Wildflower, Clover, Acacia, Others), by Application (Food & Beverages, Personal Care & Cosmetics, Pharmaceuticals, Others), by Packaging (Glass Jar, Bottle, Tub, Tube, Others), by North America (United States, Canada, Mexico, Rest of North America), by Middle East & Africa (UAE, South Africa, Saudi Arabia, Rest of MEA), by Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), by Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), by South America (Brazil, Argentina, Rest of South America) Forecast 2024-2032
The Honey Market size was valued at USD 8.94 USD Billion in 2023 and is projected to reach USD 13.91 USD Billion by 2032, exhibiting a CAGR of 6.52 % during the forecast period. This natural sweet substance is extracted by bees by the conversion of gathered nectar from flowers and is ubiquitously famous for its versatile uses in food, medical, and beauty products. This amber-colored liquid can come in several different types including clover, acacia and manuka and has an impressive list of ingredients: sugars (glucose/fructose), enzymes, amino and organic acids, peptides, vitamins and minerals. It is used in the preparation of some foods and drinks to make them tasty and it has some uses in cosmetic products for healing rough skin, sore throat and to fasten the healing process of wounds. Related trends in the market include a shift away from refined honey and its derivatives towards the purest form of honey due to perceived nutritional values and richer taste, considering changing consumer habits towards organic products.
January 2024: Apis India launched organic honey, sourced from certified organic lands in India.
March 2023: Bagrrys India launched Bagrry's Organic Wild Honey in glass jars.
January 2022: Sweet Harvest Foods Inc. acquired Nature Nate's Honey Co., offering pure and unfiltered honey.
September 2021: Gujarat Cooperative Milk Marketing Federation Ltd. and National Bee Board introduced 'Amul Honey' in India.
The report provides a comprehensive analysis of the honey market, including key insights, driving forces, restraints, emerging trends, growth catalysts, market segmentation, leading players, and significant developments.
The honey market is segmented by region: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to hold the largest market share due to increasing honey consumption in populous countries such as China and India.
Consumers are increasingly demanding natural, healthy, and sustainable honey products. They are also willing to pay a premium for high-quality honey.
The report includes a detailed analysis of the drivers, restraints, opportunities, and challenges (DROCs) affecting the honey market.
The report provides a SWOT analysis of the honey market, assessing its strengths, weaknesses, opportunities, and threats.
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 6.52% from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 6.52% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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