Industry Background:
Honey is known as a sweet, viscous food substance which is been produced by bees and some related insects. The primary components of honey included of carbohydrates, water, nitrogenous substances, and several minerals. Bees produces honey from the sugary secretions of the plants or from secretions of other insects such as like honeydew. They do this by the process of regurgitation, enzymatic activity, and water evaporation
According to AMA Research, the market for Honey is expected to register a CAGR of 7.2% during the forecast period to 2030. This growth is primarily driven by Consumers preferences are growing for natural and healthy alternatives to artificial sweeteners
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Tons |
Value Unit | USD (Million) |
Dominating Type | Wildflower honey |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Consumer Goods sector in the United States region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Dalian Sangdi Honeybee Co., Ltd. (China), Rowse Honey Ltd. (United Kingdom), Sioux Honey Association/Sue Bee Honey (United States), Comvita Limited (New Zealand), Bee Maid Honey (Canada), Billy Bee Products Company (Canada), HoneyLab Ltd. (New Zealand), Dabur India Limited (India), Yanbian Baolixiang Beekeeping Co., Ltd. (China), Savannah Bee Company (United States), The Honey Company (United States), Shanghai Guan Sheng Yuan (Group) Co., Ltd. (China), Dutch Gold Honey, Inc. (United States), R Stephens Apiary (Australia), Polar-Honey Finland (Lappi-Hunaja) (Finland), Barkman Honey (United States), Beeyond the Hive LLC (United States), Steens Ltd (New Zealand), Capilano Honey Pty Ltd. (Australia), Little Bee (India) and Golden Acres Honey Products Ltd. (Canada), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In January 2022, sweet harvest food Inc. a leading natural sweeteners platform and one of the largest honey packers acquired McKinney’s based nature nates honey co., to offer raw and organic nectar to consumers worldwide. The acquisition will benefit consumers and retailers by making premium honey accessible to every home in the country.
In July 2023, Capilano Honey Ltd. Launched Capilano Active Manuka Honey MGO 100+ and Capilano Active Honey MGO 550+. These variants contain the bioactive ingredient methylglyoxal (MGO), responsible for the honey’s antibacterial, anti-inflammatory, and wound-healing properties.The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players explore new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. The market is expected to grow in the food and beverage and grocery sectors. It has wide application in various industry verticals. Several companies such as E-bay, Amazon, Flipkart, and Walmart are operating in the market to provide customers with various features & unique offering products, services, and prices. The market is a highly fragmented market with the presence of several market players and local players. The demand for the market is huge which has wide consumption from the various end-users that is triggering the market growth over the forecast period
Influencing Trend:
There is rising popularity of manuka honey on account of its antibacterial, antimicrobial, anti-inflammatory properties and Scientific validation of the medical uses of honey
Market Growth Drivers:
Consumers preferences are growing for natural and healthy alternatives to artificial sweeteners and Rising awareness over the benefits of honey over granulated cane sugar
Challenges:
Loss of honey bee population, Changing preferences of consumers, regional, national, and local economic conditions and demographic trends and Fluctuating weather conditions making impact on the growth of honey
Restraints:
Increase in illegal honey laundering is diverging the market, Going threat of food fraud and Flactuating prices of honey is hindering the growth
Opportunities:
Artificial sweeteners are on the back end as the customers are mainly focusing on natural sweeteners
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Honey Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Honey Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Honey players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Honey Study Sheds Light on
The Honey Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Honey industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Honey industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.