Honey Market to Reflect a Holistic Expansion During 2021 to 2028: Grand View Research Inc.

 Honey Market Growth & Trends

The global honey market size is expected to reach USD 17.34 billion by 2028 registering a CAGR of 8.2%, according to a new report by Grand View Research, Inc. Rising awareness about maintaining a healthy lifestyle is expected to be the key driver for the market growth over the forecast period. Honey has excellent nutritional and medicinal properties. It improves body immunity, helps in weight management, and prevents blood pressure issues. It is also a rich source of antioxidants and helps in healing burn wounds and scars. Due to such properties, it is widely used in various sectors apart from food & beverages, such as personal care & cosmetics and pharmaceuticals.

Europe was the largest regional market in 2020 and accounted for a revenue share of more than 34.0% in 2020. In January 2018, Altıparmak, a leading honey producer of Turkey, got funding from the European Bank for Reconstruction and Development (EBRD) of USD 4.98 million to develop and advance its value chain. Moreover, it is also used for the improvement of its production and innovation in Apitherapy.

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Honey Market Report Highlights

• The food & beverages application segment was the largest product segment in 2020 and accounted for a share of more than 70%
• However, the personal care & cosmetics application segment is estimated to register the fastest CAGR from 2021 to 2028
• The supermarket/hypermarket distribution channel segment led the market in 2020 and will retain its dominant position throughout the forecast period due to the increasing number of new stores across the globe
• The online segment is expected to register the fastest CAGR of over 8% from 2021 to 2028. The recent global pandemic has forced customers to start shopping through e-commerce, which, in turn, drives the segment growth
• Asia Pacific is expected to remain the fastest-growing regional market over the forecast period on account of the expansion of the food & beverage sector in countries including China, India, and Japan

Honey Market Segmentation

Grand View Research has segmented the global honey market on the basis of application, distribution channel, and region:

Honey Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2016 - 2028)

• Food & Beverages
• Personal Care & Cosmetics
• Pharmaceutical

Honey Distribution Channel Outlook (Volume, Kilo Tons; Revenue, USD Million, 2016 - 2028)

• Convenience Stores
• Supermarket/Hypermarket
• Online

Honey Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2016 - 2028)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
• Asia Pacific
  • China
  • India
• Central & South America
• Middle East & Africa
  • Saudi Arabia

List of Key Players of Honey Market

• Beeyond the Hive
• Dabur India Ltd.
• Patanjali Ayurved
• Capilano Honey Ltd.
• Barkman Honey, LLC.
• New Zealand Honey Co.
• Oha Honey LP
• Bee Maid Honey Ltd.
• Streamland Biological Technology Ltd.
• Dutch Gold Honey, Inc.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.