The scope of the global Honey Market was prized by US$ 8.4 billion in 2018. It is projected to increase by a CAGR of 8% and to extent to US$ 14.4 billion by the completion of 2025. It is a sugary foodstuff produced by bees, hunting liquid from flowers. The bees transform liquid to honey over spitting out and vaporization. The bees stockpile it such as a principal source of food in honeycombs, made up of wax, inside apiaries. The beekeepers excerpt it by taking away the honey comb and then by way of crushing it or else via an extractor. These bees are the significant portion of the food chain because they help in fertilization. This is necessary to maintenance the food chain.
Ever-changing favorites of the consumers in the direction of a natural, healthy and nutritious substitute for sugar along with synthetic sweetener is likely to be the most important motivator. Additionally, the product is likely to increase grip because it delivers excellent possessions of antimicrobial, anti-inflammatory, antibacterial and antioxidant.
Honey is an enriched source of numerous nutrients comprising calcium, vitamins, minerals and natural sugar. Moreover, in addition to its direct human intake, it has been getting utilized such as the important constituent in a number of applications comprising alcoholic drinks, bakery products, cookies, confectionary items, breakfast cereals and energy bars & drinks.
Additionally, it performances such as a substitute for the sugar and additional chemical non-natural sweeteners. These features inspire customers to ingest it in their day-to-day breakfast and mealtimes so as to increase a supportable way of life and fit food with the intention of avert long-lasting matters of fitness. Additionally, it is advantageous for upholding blood pressure, refining metabolic action, indorsing curing of burn and wound, management of weightiness and decreasing the threat of diabetes. This is expected to boost the global market for honey, substantially during the period of approaching years.
The global honey market can be classified by Sales Network, Packaging, Application, Type of Product, and Region. By Sales Network, it can be classified as Specialty Stores, Super Markets, Hyper Markets, Convenience Stores and Others. By Packaging, it can be classified as Tub, Jar, Tube, Bottle and Others. By Application, it can be classified as Medicines, Foodstuff & Beverage, Personal Care & Cosmetics Products and Others. By Type of Product, it can be classified as Clover, Buckwheat, Alfalfa, Acacia, Wildflower, Table, Cooking Ingredient and Others.
By Region the global honey industry can be classified as North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. Europe was the biggest end user in 2018. It was responsible for a market share of above 30.0% of the international capacity. Most important manufacturing companies are implementing a number of policies for marketing that comprise mergers & acquisitions, improvement of the product, presentation of the new products and enlargement of the retail chain, so as to increase a reasonable upper hand in the market.
Asia Pacific is likely to be the speedily developing market. Its development is income centered and will be expanding by a CAGR of 8.5% during 2019 to 2025. The solid position of apiculture, together with greater concentration of medium earnings age-groups in the nation states comprising India and China, is expected to encourage funds by the seeking companies during the upcoming years.
Important producers are implementing market approaches that consist of enlargements of delivery network along with the product range, presentation of new products and mergers & acquisitions, so as to upsurge the base of customers. For example, Hilltop Honey Limited presented an extensive variety of products comprising Organic Fairtrade Honey and Manuka Honey in April 2019. The company presented its innovative products for the selling market in U.K.
Some of the important companies for Honey Market are: Zhejiang Jiangshan Bee Enterprise, Nuxten Health, Bee yond The Hive, Capri lush International, Dabur India Ltd., Navrang, Groeb Farms, DucCuongPhat Company, Lamex Food Group, Bee Maid Honey Ltd., Comvita Ltd., Hi-Tech Natural Products, and Dalian Sangdi Honeybee.
Additional notable companies are: Yanbian Baolixiang Beekeeping Co., Ltd, Cooperative, Savannah Bee Company, Little Bee Impex Private Limited, Golden Acres Honey Products Ltd., Sweet Harvest Foods Inc., Shanghai Guanshengyuan Food Co., Ltd. and PA & SC Steens Ltd.
Honey Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 - 2025)
• Food & Beverages
• Personal Care & Cosmetics
Honey Distribution Channel Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 - 2025)
• Convenience Stores
Honey Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• Saudi Arabia
Research Support Specialist, USA