Dublin, Aug. 25, 2023 (GLOBE NEWSWIRE) -- The "Global Honey Market Size, Share & Trends Analysis, 2023 to 2030" report has been added to ResearchAndMarkets.com's offering.
The global honey market is projected to attain a remarkable value of USD 13.57 billion by the year 2030, with a steady Compound Annual Growth Rate (CAGR) of 5.3% throughout the forecast period. This surge is largely attributed to the escalating demand for wholesome and natural alternatives to traditional sugars, driven by the health-conscious consumer base. Furthermore, the surge in the popularity of vegan and organic honey products, spanning soups, challah, and hot toddy, is anticipated to invigorate the market's overall growth trajectory.
Health-Focused Driving Forces
The global inclination towards health and wellness is exerting a pivotal influence on the honey market. Notably, pharmaceutical companies are gravitating towards the incorporation of natural ingredients, including honey, for an array of treatments such as hemodialysis, diabetic foot ulcers (DFUs), autolytic debridement, mucositis, vernal keratoconjunctivitis, and hemorrhoids. Honey infused with natural elements has been observed to expedite the body's healing process, a factor that is expected to significantly drive market growth.
Dominant Market Segments
Among the various segments, conventional honey processing takes the lead, claiming the largest revenue share in 2022, and is anticipated to maintain this prominent position throughout the forecast period. The broad applicability of these products across the food and beverages as well as beauty and personal care industries significantly propels this segment's growth. Anticipated new product launches by companies operating in this segment are predicted to provide further impetus to market expansion.
Distribution Channels Playing a Key Role
In terms of distribution channels, hypermarkets and supermarkets take the lead by securing the largest revenue share in 2022. These establishments attract a considerable percentage of consumers owing to the comprehensive shopping experience they offer. The tactile opportunity to inspect products and the availability of assistance add to the allure of this distribution channel. The honey market landscape features a blend of well-established players alongside numerous small and medium-sized participants.
Noteworthy Insights from the Honey Market Report
- The organic honey processing segment is set to exhibit the most rapid CAGR of 5.9% from 2023 to 2030, with manufacturers responding to consumer demands by introducing a diverse range of organic products.
- The online distribution channel segment is poised to witness the swiftest growth rate during the forecast period, attributed to the shifting consumer shopping behavior. The allure of doorstep delivery, convenient payment options, and substantial discounts renders online honey purchases appealing to consumers.
- Asia Pacific is anticipated to register the highest CAGR from 2023 to 2030, driven by the emerging markets of China and India. The region's surging health consciousness and a flurry of new product launches are expected to positively impact the growth of the Asia Pacific honey market.
Seizing Sweet Opportunities
As the global honey market journeys towards reaching substantial figures, it is evident that health-conscious choices, the allure of organic and vegan products, and innovative distribution channels will define its trajectory. Manufacturers and consumers alike are embracing the natural and nourishing essence of honey, setting the stage for a market with promising growth and sweeter prospects.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 90 |
| Forecast Period | 2022-2030 |
| Estimated Market Value (USD) in 2022 | $9.01 Billion |
| Forecasted Market Value (USD) by 2030 | $13.57 Billion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
Key Topics Covered
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Honey Market Variables, Trends & Scope
Chapter 4. Consumer Behavior Analysis
Chapter 5. Honey Market: Processing Estimates & Trend Analysis
Chapter 6. Honey Market: Distribution Channel Estimates & Trend Analysis
Chapter 7. Honey Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Analysis
Companies Mentioned
- Beeyond the Hive
- Barkman Honey LLC
- Dabur India Ltd.
- Capilano Honey Ltd.
- New Zealand Honey Co.
- Streamland Biological Technology Ltd.
- Oha Honey L.P.
- Billy Bee Honey Products
- Little Bee Impex
- Dutch Gold Honey, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/75uh7h
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