Honey Market (By Processing: Organic, Conventional; By Distribution Channel: Hypermarkets & Supermarkets, Convenience Stores, Online) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 20222030

The global Honey market size was valued at USD 8.57 billion in 2021, and is predicted to be worth around USD 13.50 billion by 2030, registering a CAGR of 5.1% during the forecast period 2022 to 2030.

Growth Factors

Increased demand for nutritious and natural sugar alternatives and healthy spreads is expected to drive the market. The growing demand for vegan and organic honey products, including soups, challah, and hot toddy, is likely to fuel the overall growth of this market.

The conventional processing segment held the largest revenue share in 2021 and is expected to maintain its lead over the forecast period. The popularity of these products due to a variety of applications in the food and beverages and beauty and personal care industries is the key factor driving the segment. New product launches by companies in this segment are projected to fuel the market growth.

Honey is an excellent source of numerous nutritional ingredients including vitamins, minerals, calcium, and antioxidants. High demand for nutritious food products is a prominent factor driving the market, as people are increasingly becoming more aware of the benefits of living a healthy lifestyle. The growing health concerns in the wake of the COVID-19 pandemic could be a game-changer for the honey sector. Due to its antibacterial, antiviral, and anti-fungal properties, the product is receiving appreciation and wider acceptance as an effective medicine to treat acute cough and throat infection observed in corona-infected patients.

Report Coverage

By Processing Analysis

The conventional segment held the largest revenue share of over 80.0% in 2021 and is expected to maintain its lead over the forecast period, owing to its lower prices and wider availability in comparison to organic honey.

The organic segment is projected to register the fastest CAGR of 5.9% from 2022 to 2030 due to the growing trend of eating healthy among millennials and adults.

Substituting plant-based sweeteners for natural honey sweeteners will promote market growth in the years to come. Moreover, the growing population and increasing number of people moving towards honey sweeteners provide a significant growth opportunity for the key players operating in the market.

By Distribution Channel Analysis

The hypermarkets and supermarkets segment captured the largest revenue share of over 40.0% in 2021. The increasing penetration of independent retail giants such as Walmart and Costco is boosting product visibility and attracting a larger consumer base. 

Consumers prefer to physically verify these products before buying, which is driving the sales through this channel. The online distribution channel is projected to register the highest CAGR of 6.6% from 2022 to 2030. 

Online platforms offer high levels of convenience, increased product visibility, and at-home delivery features, which is promoting the segment growth. A majority of the consumers rely on virtual stores to help them navigate through the multitude of products available and at times, return and exchange options available to them if not satisfied with the delivered products.

By Regional Analysis

Europe held the largest revenue share of over 35.0% in 2021 and is expected to maintain its lead over the forecast period. A rapidly improving economy due to rising disposable income, urbanization, and changing lifestyles is projected to drive the product demand in the respective region, thereby augmenting the overall market growth in the years to come. 

Asia Pacific is expected to register the highest CAGR from 2022 to 2030. Consumers’ increasing inclination towards healthy and tasty eating habits is boosting the market growth. the presence of well-established players in the region and the constantly growing millennial population, along with its willingness to spend more on healthier sweeteners, are driving the market in Asia Pacific. 

Key Players 

• Beeyond the Hive

• Barkman Honey LLC

• Dabur India Ltd.

• Capilano Honey Ltd.

• New Zealand Honey Co.

• Streamland Biological Technology Ltd.

• Oha Honey LP

• Billy Bee Honey Products

• Little Bee Impex

• Dutch Gold Honey, Inc.

Market Segmentation

• By Processing

  • Organic

  • Conventional

• By Distribution Channel 

  • Hypermarkets & Supermarkets

  • Convenience Stores

  • Online

  • Others

• Regional

  • North America

    • U.S.

  • Europe

    • Germany

    • U.K.

    • France

  • Asia Pacific

    • China

    • Japan

    • India

  • Central & South America

  • Middle East & Africa

    • Saudi Arabia

The Honey market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Honey market for the base year 2022 and the forecast between 2022 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Honey market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Honey market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Honey market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Honey capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Honey by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Honey market. These figures have been provided in terms of both revenue and volume for the period 2019 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Honey market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Honey market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Honey industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Honey market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Honey market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Honey market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Honey market. These factors have benefited the growth of the global market for Honey. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Honey. The global market is segmented on the basis of region, application, end-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Honey are as follows:

• History Year: 2019-2021

• Base Year: 2022

• Forecast Year 2022  to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2019-2022) and forecast (2022-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.