Global Honey Market Size, Share and Growth Analysis Report - Forecast Trends and Outlook (2024-2032)

Key Market Trends Include Rising Awareness, Growing Use in Different Industries, and Rising Government Initiatives

Rising Awareness of the Benefits of the Product

Rising awareness of the benefits of honey, the adverse side effects of industrially produced cane sugar and the consequent growing preference for natural sweeteners is likely to have a salutary effect on the honey market growth. Due to the adverse effects of the pandemic, there was a renewed awareness of the health and medicinal benefits of honey, particularly as an immunity enhancer. It promotes regular use of honey as a part of daily food. This awareness is likely to act as a key driver for market growth.

Rising Use as a Home Remedy

Honey has been quite popular as a part of home remedies for many common health problems like cough and cold, foot sores in diabetic people, cold sores, sores and ulcers in mouth and gums caused by herpes virus, among others. Also, there are a large number of Ayurvedic medicines that use honey as an ingredient.

Rising Uses in Medicines

Honey finds its use in many Allopathic medicines. Honey preparations are used for treating burns, coughs, colds, and dry eyes, among other problems. Melcare Biomedical is an Australian company that has been specialising in medicines using the therapeutic benefits of honey. It has developed many medicines for treating symptoms of the common cold, eye care, wound and skin care, and nasal care. There has been an increased preference for medicines using natural products, therapeutic use of honey is likely to be on a consistent growth path and act as a key driver.

Increased Use in Personal Care Products

The use of honey in various beauty and body care products is gaining significant traction. Such products include honey-based face masks, face moisturisers, lip balms, body wash, hand and body lotions, shampoos, and moisturising wipes, among others. Such products are marketed under brands like Kara, Palmer’s, The Body Shop, Vaadi Herbals, VLCC, Biotique, Innisfree, and Dear Packers, among others. There is a discernible rising trend towards the use of beauty products based on natural ingredients in preference to industrially manufactured chemicals.

One of the major honey market trends is the fast growth of the organic honey segment vis-a-vis the entire market. It is because of the general preference for organic products among the upper crust of consumers, who can afford higher prices of organic products and among those who are environmentally more conscious. As such consciousness will keep on growing, the organic honey segment needs to be keenly observed.

Rising Initiatives and Programs by Different Governments

There is a growing realisation all over the world regarding the role played by bees in human nutrition through pollination. Flowers and food crops depend on pollination and any threat to bees is a threat to global food security and nutrition. This realisation will propel governments towards affirmative action to protect bees from extinction.

In India, one such initiative by the Central Government is the National Honey and Beekeeping Mission, which is part of an ambitious vision of the government called ‘Sweet Revolution that aims at promoting apiculture for accelerating the production of quality honey and other related products. In China, there are government projects for providing bee habitat on a large scale. Such initiatives by governments will help protect and expand bee habitats and are likely to be growth drivers.

The report aims to analyse the impact of various growth drivers, including the segments and subsegments within them, to assess their impact on the growth of the market, separately as well as cumulatively.

Rising Awareness and Higher Investments to Offer Lucrative Opportunities to the Market

Rising Awareness about the Benefits to Garner More Consumers

The sharp increase in imports could be attributed to higher consumption during the peak pandemic period due to an increase in general awareness about honey as a natural immunity enhancer. The imprint of this awareness is likely to continue in the post-pandemic phase as well, giving an upward push to the market. Apart from this, other growth drivers discussed above will also act cumulatively to promote the market globally.

Better Organisation of the Sector and Rising Investments

Organic honey commands a much higher price and is likely to offer relatively better growth opportunities. Beekeepers form the core of honey production, but they do not constitute an organised sector. Beekeeping is mostly a cottage and micro-entrepreneurial activity but the rising demand for honey is necessitating higher production of good quality honey. This, in turn, provides vast opportunities for big investors to invest in upscaling and organising beekeeping as an organised, technology-driven, commercial activity at a lower cost. It is certainly an area of interest for entrepreneurs.

The report examines in detail, various opportunities that are coming in the way of beekeepers, companies in the business of production and marketing of honey and honey-based products, exporters, and prospective investors in the business.

Climate Change, Availability of Duplicate Honey, High Prices of Organic Honey, and Decreasing Productivity to Pose as Major Challenges for the Market

Climate Change

While the honey demand in the world is constantly surging; the supply side is facing certain challenges. One such challenge is posed by the increased threat to bee colonies in various parts of the World due to the cumulative effect of climate change, indiscriminate use of pesticides, attacks by pests and biodiversity loss. The silver lining is that various governments and multilateral organisations like the Food and Agriculture Organisation are trying to combat these challenges and mulling over strategies to meet them.

Rising Availability of Duplicate Honey

Another major challenge is posed by duplicate honey that is literally flooding the market. It is believed that honey is the third most faked food in the world after milk and olive oil. This fake honey is usually a highly processed form of a mixture of a small quantity of real honey with a low-cost sugary syrup derived from corn, rice, and sugarcane, among others. It offers none of the health benefits of real honey but all the disadvantages that can be associated with sugar.

Faking of honey has achieved a very high level of adulteration and it is usually difficult tell real honey from its fake counterpart without advanced chemical analysis. Unfortunately, even reputed brands are also indulging in such nefarious activities.

Higher Prices of Organic Honey

Organic honey is extremely expensive as compared to fake honey, which makes it less affordable to the population. Due to the price advantage that fake honey enjoys over real honey, it can make the survival of real honey extremely difficult. It has the potential to create a crisis of credibility among consumers, who cannot differentiate between real and fake honey and may begin to distrust both. Fake honey may not cause much damage in the short term, but it is a real challenge to the survival of real honey in the long run. Major brands will have to continuously strive to protect the credibility of their brands and earn and retain the confidence of consumers and other stakeholders.

Disrupted Production to Hinder the Market Growth

As per the recent reports from Canada, beekeepers have been facing serious problems. In Alberta, cold weather wiped out hundreds of honeybee colonies and in Saskatchewan, beekeepers reported higher than usual mortality rates among bees during the current year, which significantly affected the production volume in the region.

Recent reports regarding honey production have not been very encouraging from France as well. Last year, due to cold, wet, and windy conditions, many regions of the country suffered from frost, it adversely affected honey production. Even otherwise, the country has seen a consistent decline in honey production for many years, except in 2014 and 2020.

News from Zimbabwe is also alarming. Thanks to climate change, indiscriminate use of pesticides, habitat loss and poor bee colony management, honeybees in the country are being gradually pushed to extinction. Steps are afoot to reverse the trend.

Zimbabwe may not be alone. Last year, Jose Graziano da Silva, former Director General of the Food and Agriculture Organisation warned the world that bees were facing an existential threat due to the cumulative effect of climate change, indiscriminate use of pesticides and biodiversity loss. May 20 is observed every year as the World Bee Day and in view of the increasing level of threat to bees, the theme of the Day in 2023 was “Dangers to Honeybees and Benefits from Honeybees”.

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