Selbyville, Delaware, March 05, 2024 (GLOBE NEWSWIRE) --
The honey market valuation is projected to cross USD 13.7 billion by 2032, as reported in a research study by Global Market Insights Inc.
The market growth is substantially bolstered by the increasing number of companies dedicating efforts to expanding their sales and extending their market reach. In November 2023, Salt Range Foods, a Guwahati-based company, set to broaden its retail presence of honey products in India, capitalizing on the positive response it has received in international export markets. Historically, the company has exported 95% of its honey production to regions including the US, Europe, and the Middle East.
Recognizing the surging demand for high-quality honey within India, Salt Range Foods aims to expand its domestic footprint, primarily through digital channels. In light of concerns about honey adulteration, the company intends to cater to the substantial demand for authentic honey in India, with ambitious plans to scale its production capacity to 5,000 tonnes by 2026. The globalization of food markets and increased awareness of different honey varieties, such as Manuka honey, has expanded its consumer base, further multiplying the honey market size.
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Wildflower honey market could exhibit a decent growth rate over 2023-2032, claims the report. Wildflower honey is favored for its unique and diverse flavor profile, often containing a mix of nectar from various wildflowers. This diversity in sources gives it a distinctive taste and potential health benefits attributed to the broader spectrum of pollen content. As consumers seek more natural and unprocessed honey varieties, wildflower honey continues to contribute significantly to the industry share, reflecting a broader trend in favor of authentic and minimally processed food products.
The honey market from the personal care and cosmetics segment will register a noteworthy CAGR from 2023 to 2032, as per the report. Honey's natural properties make it an attractive ingredient for skincare and haircare products. Its moisturizing, anti-inflammatory, and antimicrobial qualities are valued in lotions, creams, shampoos, and more. Consumers are increasingly seeking natural and sustainable alternatives in their personal care products, driving the demand for honey-infused cosmetics. The growth in this segment is reflective of a broader shift toward eco-friendly and clean beauty products, making beauty enthusiasts and brands prominent contributors to honey industry demand.
Europe honey market will register a robust CAGR between 2023 and 2032, owing to consumer preferences shifting towards healthier, natural sweeteners and favoring honey over processed sugars. Europe's focus on health-conscious lifestyles and organic food choices further boosts honey consumption. In addition, honey's diverse varieties, including Manuka honey, have gained popularity. Environmental concerns and sustainability practices are encouraging the demand for ethically sourced and organic honey products. In summary, Europe's honey industry thrives due to changing consumer tastes, wellness trends, and the emphasis on sustainability, contributing to its continued growth and popularity.
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Major companies operating in the honey market include Dabur India Ltd., Beeyond the Hive, Streamland Biological Technology Ltd., Capilano Honey Ltd., Golden Acres Honey, Savannah Bee Company, Bee Maid Honey Ltd, GloryBee, Oha Honey LP, New Zealand Honey Co., Barkman Honey LLC, Billy Bee Honey Products, among others.
Companies within the honey market are consistently introducing improved products to meet customer demands, thereby establishing a robust market foothold.
In February 2021, in response to honey adulteration concerns, Dabur India Limited collaborated with Amazon India to introduce Dabur Organic Honey. This marked Dabur's first foray into organic products. Dabur Organic Honey was positioned as a pure, unprocessed, and unpasteurized alternative, underscoring its commitment to quality and authenticity. The launch came in the wake of a study by the Centre for Science and Environment (CSE) that highlighted widespread adulteration in honey from prominent Indian brands, revealing high levels of impurities, including sugar syrup. Dabur's offering aimed to provide consumers with a trustworthy, chemical-free choice in the honey market.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Industry coverage
1.2 Market scope & definition
1.3 Base estimates & calculations
1.3.1 Data collection
1.4 Forecast parameters
1.5 COVID-19 impact analysis at global level
1.6 Data validation
1.7 Data Sources
1.7.1 Primary
1.7.2 Secondary
1.7.2.1 Paid sources
1.7.2.2 Unpaid sources
Chapter 2 Executive Summary
2.1 Honey industry 360º synopsis, 2018 – 2032
2.2 Business trends
2.3 Type trends
2.4 Application trends
2.5 Distribution channels trends
2.6 Regional trends
Chapter 3 Honey Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.2 Industry pitfalls & challenges
3.3 Growth potential analysis
3.3.1 By Type
3.3.2 By Application
3.3.3 By Distribution channels
3.4 COVID- 19 impact analysis
3.5 Regulatory landscape
3.5.1 U.S.
3.5.2 Europe
3.6 Pricing analysis, 2022
3.7 Reimbursement scenario
3.8 Technology landscape
3.9 Future market trends
3.10 GAP analysis
3.11 Porter's analysis
3.12 PESTEL analysis
3.13 Impact of Russia Ukraine war
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
