Honey Market

Honey Market to Hit $17.40 Billion By 2030

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The global Honey market size is expected to be worth around US$ 17.40 billion by 2030, according to a new report by Vision Research Reports.

The global Honey market size was valued at US$ 9.25 billion in 2020 and is anticipated to grow at a CAGR of 8.5% during forecast period 2021 to 2030.

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Growth Factors

Rising awareness about maintaining a healthy lifestyle is expected to be the key driver for the market growth over the forecast period. Honey has excellent nutritional and medicinal properties. It improves body immunity, helps in weight management, and prevents blood pressure issues. It is also a rich source of antioxidants and helps in healing burn wounds and scars. Due to such properties, it is widely used in various sectors apart from food & beverages, such as personal care & cosmetics and pharmaceuticals.

Europe was the largest regional market in 2020 and accounted for a revenue share of more than 34.0% in 2020. In January 2018, Altıparmak, a leading honey producer of Turkey, got funding from the European Bank for Reconstruction and Development (EBRD) of USD 4.98 million to develop and advance its value chain. Moreover, it is also used for the improvement of its production and innovation in Apitherapy.

Report Highlights

Food & beverages was the largest application segment in 2020 and accounted for a market share of more than 70% in 2020 due to extensive usage of honey in bakery products, non-alcoholic beverages, and as a flavor in alcoholic beverages. However, product adulteration is one of the significant issues in the global market. Major players are introducing products with more transparency and more certifications to improve their sales.

The supermarket/hypermarket segment accounted for the largest revenue share of over 62% in 2020. The segment will retain the leading position throughout the forecast period as more than 60% of the honey is sold through these distribution channels. Moreover, major companies in this segment are focusing on opening up new stores in emerging markets.

The online channel segment is projected to record the fastest CAGR of more than 8% from 2021 to 2028 due to the growing popularity of e-commerce platforms as a result of their high degree of convenience. In addition, these sites provide doorstep deliveries of a wide variety of products at discounted prices. Such benefits are boosting the segment growth.

Europe accounted for the largest market share of more than 34% in 2020. Europe is majorly self-sufficient as almost 60% of the honey consumed in the region is produced in Europe itself as per the European Commission’s statistics in 2020. In addition, major players in the region invest significant amounts in maintaining their production and supply chain. In January 2018, Turkey-based honey producer, Altıparmak, got funding of USD 4.98 million from EBRD (European Bank for Reconstruction and Development) to develop and advance its in-house value chain.

Asia Pacific is anticipated to be the fastest-growing regional market from 2021 to 2028. The presence of a large number of honey producers in some of its emerging countries, such as China and India, is expected to remain a favorable factor for the region’s growth. Furthermore, China was the largest exporter of honey in the U.S. and all over Europe in 2019.

Key Players

  • Beeyond the Hive
  • Dabur India Ltd.
  • Patanjali Ayurved
  • Capilano Honey Ltd.
  • Barkman Honey, LLC.
  • New Zealand Honey Co.
  • Oha Honey LP
  • Bee Maid Honey Ltd.
  • Streamland Biological Technology Ltd.
  • Dutch Gold Honey, Inc.

Market Segmentation

  • Application Outlook 
    • Food & Beverages
    • Personal Care & Cosmetics
    • Pharmaceutical
  • Distribution Channel Outlook 
    • Convenience Stores
    • Supermarket/Hypermarket
    • Online
  • Regional Outlook 
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
    • Asia Pacific
      • China
      • India
    • Central & South America
    • Middle East & Africa
      • Saudi Arabia

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Honey Market, By Application

7.1.  Honey Market, by Application, 2021-2030

7.1.1.    Food & Beverages

7.1.1.1.        Market Revenue and Forecast (2016-2030)

7.1.2.    Personal Care & Cosmetics

7.1.2.1.        Market Revenue and Forecast (2016-2030)

7.1.3.    Pharmaceutical

7.1.3.1.        Market Revenue and Forecast (2016-2030)

Chapter 8.  Global Honey Market, By Distribution Channel

8.1.  Honey Market, by Distribution Channel, 2021-2030

8.1.1.    Convenience Stores

8.1.1.1.        Market Revenue and Forecast (2016-2030)

8.1.2.    Supermarket/Hypermarket

8.1.2.1.        Market Revenue and Forecast (2016-2030)

8.1.3.    Online

8.1.3.1.        Market Revenue and Forecast (2016-2030)

Chapter 9.  Global Honey Market, Regional Estimates and Trend Forecast

9.1.  North America

9.1.1.    Market Revenue and Forecast, by Application (2016-2030)

9.1.2.    Market Revenue and Forecast, by Distribution Channel (2016-2030)

9.1.3.    U.S.

9.1.3.1.        Market Revenue and Forecast, by Application (2016-2030)

9.1.3.2.        Market Revenue and Forecast, by Distribution Channel (2016-2030)

9.1.4.    Rest of North America

9.1.4.1.        Market Revenue and Forecast, by Application (2016-2030)

9.1.4.2.        Market Revenue and Forecast, by Distribution Channel (2016-2030)

9.2.  Europe

9.2.1.    Market Revenue and Forecast, by Application (2016-2030)

9.2.2.    Market Revenue and Forecast, by Distribution Channel (2016-2030)

9.2.3.    UK

9.2.3.1.        Market Revenue and Forecast, by Application (2016-2030)

9.2.3.2.        Market Revenue and Forecast, by Distribution Channel (2016-2030)

9.2.4.    Germany

9.2.4.1.        Market Revenue and Forecast, by Application (2016-2030)

9.2.4.2.        Market Revenue and Forecast, by Distribution Channel (2016-2030)

9.2.5.    France

9.2.5.1.        Market Revenue and Forecast, by Application (2016-2030)

9.2.5.2.        Market Revenue and Forecast, by Distribution Channel (2016-2030)

9.2.6.    Rest of Europe

9.2.6.1.        Market Revenue and Forecast, by Application (2016-2030)

9.2.6.2.        Market Revenue and Forecast, by Distribution Channel (2016-2030)

9.3.  APAC

9.3.1.    Market Revenue and Forecast, by Application (2016-2030)

9.3.2.    Market Revenue and Forecast, by Distribution Channel (2016-2030)

9.3.3.    India

9.3.3.1.        Market Revenue and Forecast, by Application (2016-2030)

9.3.3.2.        Market Revenue and Forecast, by Distribution Channel (2016-2030)

9.3.4.    China

9.3.4.1.        Market Revenue and Forecast, by Application (2016-2030)

9.3.4.2.        Market Revenue and Forecast, by Distribution Channel (2016-2030)

9.3.5.    Japan

9.3.5.1.        Market Revenue and Forecast, by Application (2016-2030)

9.3.5.2.        Market Revenue and Forecast, by Distribution Channel (2016-2030)

9.3.6.    Rest of APAC

9.3.6.1.        Market Revenue and Forecast, by Application (2016-2030)

9.3.6.2.        Market Revenue and Forecast, by Distribution Channel (2016-2030)

9.4.  MEA

9.4.1.    Market Revenue and Forecast, by Application (2016-2030)

9.4.2.    Market Revenue and Forecast, by Distribution Channel (2016-2030)

9.4.3.    GCC

9.4.3.1.        Market Revenue and Forecast, by Application (2016-2030)

9.4.3.2.        Market Revenue and Forecast, by Distribution Channel (2016-2030)

9.4.4.    North Africa

9.4.4.1.        Market Revenue and Forecast, by Application (2016-2030)

9.4.4.2.        Market Revenue and Forecast, by Distribution Channel (2016-2030)

9.4.5.    South Africa

9.4.5.1.        Market Revenue and Forecast, by Application (2016-2030)

9.4.5.2.        Market Revenue and Forecast, by Distribution Channel (2016-2030)

9.4.6.    Rest of MEA

9.4.6.1.        Market Revenue and Forecast, by Application (2016-2030)

9.4.6.2.        Market Revenue and Forecast, by Distribution Channel (2016-2030)

9.5.  Latin America

9.5.1.    Market Revenue and Forecast, by Application (2016-2030)

9.5.2.    Market Revenue and Forecast, by Distribution Channel (2016-2030)

9.5.3.    Brazil

9.5.3.1.        Market Revenue and Forecast, by Application (2016-2030)

9.5.3.2.        Market Revenue and Forecast, by Distribution Channel (2016-2030)

9.5.4.    Rest of LATAM

9.5.4.1.        Market Revenue and Forecast, by Application (2016-2030)

9.5.4.2.        Market Revenue and Forecast, by Distribution Channel (2016-2030)

Chapter 10.  Company Profiles

10.1.              Beeyond the Hive

10.1.1.  Company Overview

10.1.2.  Product Offerings

10.1.3.  Financial Performance

10.1.4.  Recent Initiatives

10.2.              Dabur India Ltd.

10.2.1.  Company Overview

10.2.2.  Product Offerings

10.2.3.  Financial Performance

10.2.4.  Recent Initiatives

10.3.              Patanjali Ayurved

10.3.1.  Company Overview

10.3.2.  Product Offerings

10.3.3.  Financial Performance

10.3.4.  Recent Initiatives

10.4.              Capilano Honey Ltd.

10.4.1.  Company Overview

10.4.2.  Product Offerings

10.4.3.  Financial Performance

10.4.4.  Recent Initiatives

10.5.              Barkman Honey, LLC.

10.5.1.  Company Overview

10.5.2.  Product Offerings

10.5.3.  Financial Performance

10.5.4.  Recent Initiatives

10.6.              New Zealand Honey Co.

10.6.1.  Company Overview

10.6.2.  Product Offerings

10.6.3.  Financial Performance

10.6.4.  Recent Initiatives

10.7.              Oha Honey LP

10.7.1.  Company Overview

10.7.2.  Product Offerings

10.7.3.  Financial Performance

10.7.4.  Recent Initiatives

10.8.              Bee Maid Honey Ltd.

10.8.1.  Company Overview

10.8.2.  Product Offerings

10.8.3.  Financial Performance

10.8.4.  Recent Initiatives

10.9.              Streamland Biological Technology Ltd.

10.9.1.  Company Overview

10.9.2.  Product Offerings

10.9.3.  Financial Performance

10.9.4.  Recent Initiatives

10.10.           Dutch Gold Honey, Inc.

10.10.1.               Company Overview

10.10.2.               Product Offerings

10.10.3.               Financial Performance

10.10.4.               Recent Initiatives

Chapter 11.  Research Methodology

11.1.              Primary Research

11.2.              Secondary Research

11.3.              Assumptions

Chapter 12.  Appendix

12.1.              About Us

Glossary of Terms

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