Dublin, Aug. 21, 2023 (GLOBE NEWSWIRE) -- The "Europe Honey Market - Industry Outlook & Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The European honey market is poised for substantial growth, with a projected value of USD 4.24 billion by the year 2028
A notable surge has been observed in the utilization of honey as a natural sweetener within this market. Honey's versatility shines as it serves as an effective substitute for traditional sugar and corn syrup. I
nterestingly, the European Union's honey production falls short of self-sufficiency, standing at just 60%. Consequently, numerous European nations meet their honey demands through imports from other countries. Honey's multifaceted role extends beyond sweetness – its integration into processed foods is increasing to enhance nutritional content.
The rapid expansion of the e-commerce sector in Europe has triggered a surge in demand for honey through online platforms. This trend, witnessed over recent years, underscores the product's popularity and accessibility. Notably, scientific research has highlighted honey's efficacy in addressing various health concerns. For instance, studies reveal its potential in mitigating the impacts of ailments like cancer.
Leading the charge in Europe's honey market is the EU-5 region, comprising developed nations where health consciousness and dietary patterns are on the rise. In these countries, an increasing awareness of honey's health benefits is driving demand. Moreover, the EU-5 region is experiencing a growing focus on skin health.
This is evidenced by the escalating preference for natural skincare and beauty products. Honey's inherent properties, known for their ability to combat acne and promote radiant skin, have sparked interest in honey-based cosmetic solutions like pore cleansers. As the pursuit of natural skincare and health-conscious choices grows, honey emerges as a prominent player in Europe's dynamic market landscape.
The Europe honey market is highly fragmented as many manufacturers and individual beekeepers who have maintained beehives are present across the region. There are a few major players present in the Europe honey market, such as New Zealand Honey Co. (New Zealand), Comvita (New Zealand), Lamex Food Group (UK), Valeo Food Group (UK), and many more are offering the high-quality honey in the region.
As various diseases and health-related problems, such as cancer, diabetes, overweight, obesity, and heart stroke, are increasing in various countries, the consumption of nutrient-based products such as vitamins, proteins, minerals, and others is also increasing in the region.
MARKET TRENDS & DRIVERS
Growing Popularity of Honey-Based Skin Care & Beauty Products
As honey is rich in many nutrients, it is widely used to treat the skin. In the personal care and cosmetics industry, honey is used in creams, cleansers, face wash, and many other items. It is used for holding skin moisture, reducing acne, smoothening the skin, and as an anti-aging agent in the cosmetics industry.
People prefer good quality products to avoid harmful effects on the skin. The growing consciousness about healthy skin is driving the honey-based cosmetics market. Thus, the demand for honey is expected to increase in the Europe honey market during the forecast period.
A Surge in the Usage of Honey as a Natural Sweetener
Honey has many advantages over sugar. Honey has a lower GI value than sugar, which means it does not increase blood sugar levels as quickly as sugar. Honey has very high nutritional value, so consumers prefer to buy it and like the characteristics of sweetness, texture, and flavor.
Honey is used in the small-scale industry or in-house for making baked products, beverages, confectionery, marmalades, candy, spreads, and jams. Thus, many companies are working on reducing sugar in food products and trying honey as a substitute for sugar. Thus, the honey demand is expected to increase, supporting market growth.
SEGMENTATION INSIGHTS
INSIGHTS BY APPLICATION
The Europe honey market by application is segmented into nutrition, medicine, and skincare & beauty. In 2022, the nutrition segment dominated the market share, accounting for over 72%. There has been a rise in awareness towards healthy eating habits and health consciousness; people increasingly prefer food enriched with extra nutrition.
By consuming honey, people can get all such benefits from honey. The nutritional content in honey helps to improve the digestion system and fulfill the requirement for body function and metabolism. As honey has many health benefits and increases awareness about health among Europeans, the consumption of honey for various applications is increasing. The rising number of diseases increases the consumption of nutritional value-based products in Europe.
INSIGHTS BY END USER
The Europe honey market by the end user is segmented into individuals, food & beverage companies, personal care & cosmetics manufacturers, and others. Other segments are divided into sub-segments, such as individuals, food & beverage companies, personal care & cosmetics manufacturers, and others.
In 2022, the individual segment accounted for the highest Europe honey market share. In European countries, the demand for raw honey is very high. The companies are putting logos as organic cultivated honey and gaining attraction of the consumers to buy their products. People prefer unprocessed, natural honey, rich in nutrition and flavourful honey.
Further, there is rising demand for honey-based products, and companies require more raw honey as the various diseases are rising in Europe, where honey is the best solution for the treatment. Pharmaceutical companies have started increasing the honey demand for making honey-based pharmaceutical products contributing to the growth of the Europe honey market.
KEY QUESTIONS ANSWERED:
- How big is the Europe honey market?
- What is the growth rate of the Europe honey market?
- What are the significant trends driving the growth of the Europe honey market?
- Who are the key players in the Europe honey market?
- What region holds the most prominent Europe honey market share?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 191 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $3.21 Billion |
| Forecasted Market Value (USD) by 2028 | $4.25 Billion |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Europe |
MARKET DYNAMICS
Market Opportunities & Trends
- Increased Use of Honey as a Therapeutic Agent
- Popularity of Honey-Based Skincare & Beauty Products
- Rapid E-Commerce Growth
Market Growth Enablers
- Advances & Innovations in Honey Extraction & Processing
- Surge in Use of Honey as a Natural Sweetener
- Increased Use of Honey in Processed Food
Market Restraints
- Adulteration of Honey
- Availability of Alternatives
- Environmental Impact on Honey Production
Premium Insights
- Key Findings
- Market Synopsis
- Factors That Drive the Demand for Honey
- Increased Demand & Low Supply of Honey
- Factors That Affect the Production & Quality of Honey
VENDOR LANDSCAPE
Key Company Profiles
- New Zealand Honey Co.
- Comvita
- Lamex Food Group Limited
- Valeo Foods Group
- Langnese Honig
Other Prominent Vendors
- Oha, Honey LP
- The London Honey Co.
- Pastili
- Bilbo
- Hilltop
- Littleover Apiaries Ltd.
- Streamland Biological Technology Ltd.
- Just Bee
- Nestle
- Joh.Gottfr. Schutte GmbH & Co. KG
- Famille Michaud
- Fileomera
- Fursten Reform Dr. med. Hans Plumer GmbH & Co. KG
For more information about this report visit https://www.researchandmarkets.com/r/dswafq
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