The global honey market size is expected to reach USD 14.4
billion by 2025, according to a new report by Grand View Research, Inc.,
expanding at a CAGR of 8.0% over the forecast period. Rising awareness among
health conscious consumers regarding the health benefits associated with honey
as it acts as a rich source of antioxidants is expected to be key factor
boosting the market growth over the forecast period. Moreover, it is the best
alternative for sugar as well as artificial sweeteners and is widely used for
producing organic and low calorie food and beverage goods.
Food and beverages held the largest share of 71.4% in 2018 in
terms of revenue as a result of rising concerns over harmful effects associated
with artificial sweeteners and sugar. Moreover, the product is gaining
popularity in the food and beverage industry on account of its nutritional
benefits as well as its flavor.
Major manufacturers are adopting marketing strategies including
new product launches, expansion of the distribution channel, and mergers and
acquisitions in order to gain a competitive edge in the market. For instance,
in April 2019, Wales Hilltop launched three exclusive range of products in the
U.K. retail market namely Organic Fairtrade Honey, Manuka Honey, and core
honey. These new product launches are expected to increase the product visibility
and will encourage the people to adopt all-natural and organic products rather
than harmful sugar.
Asia Pacific is expected to be the fastest growing market,
expanding at a revenue-based CAGR of 8.5% from 2019 to 2025. Over the past few
years, the major manufacturers have been increasingly investing in product
development and adopting technologies in apiculture. For instance, in January
2018, Tureky-based Altıparmak got a funding of USD 4.98 million from the
European Bank for Reconstruction and Development (EBRD) for the enhancement of
innovations in apitherapy, honey production, and value chain improvement.
Browse full research report on Honey Market: https://www.grandviewresearch.com/industry-analysis/honey-market
Further key findings from the report suggest:
- Demand
for the online distribution channel was pegged at 410.2 kilo tons in 2018
- By
application, the personal care and cosmetics segment is expected to expand
at the fastest CAGR of 8.3% in terms of revenue from 2019 to 2025
- Demand
in Europe is expected to reach 1.1 million tons by the end of 2025
- Honey
market key players include Beeyond the Hive; Dabur India Ltd.; Patanjali
Ayurved; Capilano Barkman; Oha Honey LP; Bee Maid Honey Ltd.; Streamland
Biological Technology Limited; and Dutch Gold.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/honey-market/request/rs1
Grand View Research has segmented the global honey market on the
basis of application, distribution channel, and region:
Honey Application Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2015 - 2025)
- Food
& Beverages
- Personal
Care & Cosmetics
- Pharmaceutical
Honey Distribution Channel Outlook (Volume, Kilo Tons; Revenue,
USD Million, 2015 - 2025)
- Convenience
Stores
- Supermarket/Hypermarket
- Online
Honey Regional Outlook (Volume, Kilo Tons; Revenue, USD Million,
2015 - 2025)
- North
America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Asia
Pacific
- China
- India
- Central
& South America
- Middle
East & Africa
- Saudi
Arabia
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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