The latest report by IMARC Group, titled “Honey Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, finds that the global honey market share grew at a CAGR of 6% during 2015-2020. Honey stands for a sweet, thick, and golden-colored liquid that is produced by bees using the nectar of flowering plants. It is a rich source of antioxidants and essential vitamins and minerals, such as niacin, thiamine, pantothenic acid, riboflavin, etc. Some of the commonly used product variants include wildflower honey, clover honey, manuka honey, tupelo honey, etc. The regular consumption of honey helps in improving good cholesterol levels, enhances memory and concentration levels, strengthens the immune system, etc. As such, honey finds wide-ranging applications across numerous industries, such as cosmetics, pharmaceutical, food and beverage (F&B), etc.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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Global Honey Market Trends:
The escalating demand for healthy spreads is one of the key factors driving the honey market. Moreover, the shifting preferences among consumers towards healthy, natural, and nutritious alternatives to sugar are further catalyzing the market growth. Besides this, the introduction of flavored honey variants, which comprise of sustainably-sourced dates, lindens, flowers, acacias, etc., is acting as another significant growth-inducing factor. Additionally, the widespread product utilization in the production of bakery items and non-alcoholic beverages is augmenting the global market. In line with this, the elevating requirement for honey as a flavor in alcoholic beverages is also positively influencing the market growth sugar free chocolates. Furthermore, the growing health consciousness among individuals and the rising awareness towards the medicinal properties of honey are anticipated to bolster the honey market over the forecasted period. On account of these factors, the market value is expected to continue its moderate growth during the forecast period (2021-2026).
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Barkman Honey LLC
- Bee Maid Honey Limited
- Beeyond the Hive
- Capilano Honey Ltd.
- Comvita Limited
- Dabur India Ltd.
- Dutch Gold Honey Inc.
- New Zealand Honey Co
- Oha Honey LP
- Patanjali Ayurved Limited
- Streamland Biological Technology Ltd
Honey Market Segmentation:
Our report has categorized the market based on region, type, application and distribution channel.
Breakup by Type:
- Alfalfa Honey
- Date Honey
- Buckwheat Honey
- Acacia Honey
- Clover Honey
- Linden Honey
Breakup by Application:
- Food and Beverages
- Personal Care and Cosmetics
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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