The global Honey Market held a staggering market valuation of USD 9.23 billion in 2020 and is expected to register a robust CAGR of 8.5% over the projected period. The rising consumer focus on health & nutrition, growing preferences for low-calorie and low-fat foods & beverages, and the escalating demand for honey worldwide for its effectiveness against cough and cold, immunity-boosting capability, lower GI value than sugar, are the factors indispensable for the global honey market growth.
Honey contains essential nutrients and minerals, including iron, calcium, magnesium, and potassium and comprises monosaccharides like fructose (40%) and glucose (30%). Although honey is high in fructose, it has a relatively lower glycemic index (GI) value than sugar, which makes it a healthier and more wholesome sugar substitute for diabetic people.
Honey is considered a natural sweetener and is widely used in the food & beverage industry for a variety of foods like bakery items and confectionery and sweet beverages. It is high in antioxidants and bioactive plant compounds, and moreover, it helps lower cholesterol and blood pressure levels, reduces the risks of heart attack and stroke, and has strong wound-healing and anti-bacterial properties.
Hence, such health benefits associated with honey make it highly suitable for use in the food & beverage, pharmaceutical, and cosmetic & personal care industries. However, the surging prevalence of obesity and diabetes is a significant parameter expected to restrict the growth of the global honey market. A rise in adulteration practices in the commercial manufacture of honey and various health hazards associated with the consumption of toxic or impure honey are the other key factors hampering the global market growth.
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Some of the Leading Market Players Are Listed Below:
- Barkman Honey, LLC
- Dabur India Ltd.
- Patanjali Ayurved
- Bee Maid Honey Ltd.
- Others
Competitive Landscape:
The research report offers details about leading companies in the global Honey market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisition, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.
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Market Segmentation:
Honey Market Segmentation based on Types:
- Date Honey
- Flower Honey
- Linden Honey
- Others
Honey Market Segmentation based on Application:
- Pharmaceuticals
- Nutraceuticals
- Personal Care & Cosmetics
- Others
Honey Market Segmentation based on Packaging:
- Glass Jars
- Plastic Bottles
- Tubs
- Others
Honey Market Segmentation based on Distribution Channel:
- Supermarkets & Hypermarkets
- Convenience Stores
- Online Stores
- Others
Key Features of the global Honey Market:
· The report offers detailed estimations at the regional level with manufacturers, consumption, sales and import/export dynamics.
· The report provides accurate details related of the manufacturers/vendors in the market, company overview, pricing analysis, financial standing, product portfolio, and gross profit of leading companies.
· Company profiling with prevalent expansion strategies, revenue generation, and recent developments.
· Optimum strategic initiatives for new players in the market.
· Manufacturing processes, suppliers, cost, rates of production and consumption, transport mode and cost structuring, and value chain analysis.
· The study also includes supply chain trends, including elaborate descriptions of the latest technological development
Honey Market Segmentation based on Regions:
· North America (U.S., Canada, Mexico)
· Europe (Germany, U.K., France, Italy, Spain, Benelux, Rest of Europe)
· Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
· Latin America (Brazil, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East & Africa)
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