Global Honey Market to Grow at a CAGR of 4.62% During 2024-2032, Aided by its Extensive Benefits and Increasing Household Consumption

Honey boasts a rich reservoir of essential nutrients, encompassing vitamins, minerals, calcium, and antioxidants. This surge in the quest for nutritious dietary choices, fuelled by the growing recognition of the benefits associated with embracing a health-conscious way of life stands out as a key catalyst boosting the honey market size. Additionally, honey has carved a prominent niche as an immunity-boosting agent, leading to a notable surge in both its consumption and market sales over a historical timeline. It is important to note that the therapeutic attributes of honey have been revered by people throughout the annals of time.

The Asia Pacific region has firmly established itself as the primary global hub for honey. Within this expansive market, China holds the distinction of being the largest producer and consumer of honey, with India following closely behind. Several factors contribute to China's prominence, including its extensive geographic expanse, abundant sources of nectar, sizable population, and improved living standards, all of which have fostered a significant upsurge in domestic natural honey production. Notably, honey in China has become a staple commodity readily accessible in supermarkets, often surpassing the availability of sugar.

India, on the other hand, ranks among the top honey producers in the Asia Pacific region, second only to China. India not only caters to its domestic demand but also engages in honey exports to numerous countries worldwide, including the United States, Canada, Qatar, and others. The country distinguishes itself by offering a diverse range of exotic honey varieties, such as multi-flora Himalayan honey, eucalyptus honey, lychee honey, and many more, further solidifying its position in the global honey market.

Capilano Honey Limited, one of the leading players in the global market, offers different varieties of honey including Capilano Bush, Coastal, and Outback Honey. These honey products are guaranteed to be derived from entirely pure and unaltered sources, carefully sourced from the unspoiled regions of Australia's outback, native bushlands, and pristine coastlines. The company aims to craft a collection of three exquisite caramel honey that not only capture the rich flavours but also reflect the untouched splendour of Australia's natural landscapes. The products are available on various e-commerce websites including Amazon.com, Inc. (NASDAQ: AMZN) and others.

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Market Breakup by Processing, Application, Distribution Channel, and Region:

• The market is segmented based on processing into organic and conventional.

• Based on application, the market is categorised into food and beverage, personal care and cosmetics, pharmaceuticals, and others.

• Based on distribution channel, the market is segmented into business to business and business to consumer.

• Region-wise, the global market for honey can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The increasing demand for natural sweeteners is poised to be a key driving factor behind the honey market growth. Furthermore, honey is increasingly being recommended as a perfect alternative to traditional sugar, owing to its numerous health-enhancing attributes. Health-conscious consumers are embracing natural sweetener options in their diets to reduce their reliance on white or refined sugar, thus contributing to the market growth.

• The demand for honey is on the rise due to the product’s ability to add delightful flavour to food and beverage offerings, coupled with its widespread availability on distribution channels.

• Furthermore, FMCG companies manufacturing the product are investing in product marketing to captivate a growing consumer base.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for honey for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the processing, application, distribution channels, and major regions of honey.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models. It also offers the value chain analysis of honey.

• It assesses the regional price trends for the (2018-2023) and (2024-2032) periods.

• The market report also analyses the trade data by covering the major importing and exporting countries.

The major players in the global honey market are Barkman Honey, LLC, Dabur India Ltd, Capilano Honey Limited, African Bronze Honey Company, New Zealand Honey Co., Pastili Limited, Comvita Ltd., North Dallas Honey Company d/b/a Nature Nate, Streamland Honey Group Ltd, and Dutch Gold Honey, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report:

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