The latest report by IMARC Group, titled “Honey Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, finds that the global honey market size grew at a CAGR of 6% during 2015-2020. Honey is a sweet, viscous, dark golden-colored liquid that is obtained from the beehives. Bees produce honey using regurgitation and enzymatic activity of the nectar that churns out sugary secretions of plants and flowers. It contains high levels of monosaccharides, fructose and glucose, which provide sweetness. Honey can be stored for a long time due to its unique chemical composition and antiseptic and antimicrobial properties. It is also known to promote debridement and speed up the healing process by stimulating wound tissues.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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Global Honey Market Trends:
The global honey market is primarily driven by the increasing demand for nutritious food products. Honey consists of various essential nutrients, including vitamins, minerals, antioxidants, and calcium, due to which it is used in both food and non-food applications. Apart from this, the growing awareness regarding the health benefits associated with the consumption of honey, such as improving metabolic activity, maintaining blood pressure levels, reducing the risk of diabetes, and healing burn wounds, is also contributing to the market growth. Furthermore, honey finds a wide variety of applications in the food and beverage, cosmetics, and pharmaceutical industries. It is also utilized as a replacement for sugar and artificial sweeteners and in the production of fermented beverages, wine and alcoholic drinks. Moreover, with the extensive research and development (R&D) activities, market players have introduced a variety of honey flavors like tulsi, ajwain, eucalyptus and jamun. On account of these factors, the market value is expected to continue its moderate growth during the forecast period (2021-2026).
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Barkman Honey LLC
- Bee Maid Honey Limited
- Beeyond the Hive
- Capilano Honey Ltd.
- Comvita Limited
- Dabur India Ltd.
- Dutch Gold Honey Inc.
- New Zealand Honey Co
- Oha Honey LP
- Patanjali Ayurved Limited
- Streamland Biological Technology Ltd
Honey Market Segmentation:
Our report has categorized the market based on Region, Type, Application and Distribution Channel.
Breakup by Type:
- Alfalfa Honey
- Date Honey
- Buckwheat Honey
- Acacia Honey
- Clover Honey
- Linden Honey
- Others
Breakup by Application:
- Food and Beverages
- Personal Care and Cosmetics
- Pharmaceuticals
- Others
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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