Honey Market Forecast by 2029, Latest Drivers and Key Companies.
This report estimates the market size for Honey using 2021 as the base year and a forecast period of 2022 to 2029. This analysis predicts that the Honey market will grow by millions of dollars by 2029 when compared to 2021. The revenue CAGR of the Honey market will skyrocket over the next seven years.
In-depth information on the market's size, price, revenue, trends, growth, and capacity is provided in the Honey market research report, along with a forecast for the years up to 2029. The primary growth factors for this Honey market are also thoroughly examined. This report is a comprehensive quantitative analysis of the market that offers information for creating plans to boost growth and effectiveness.
Famous food ingredient honey is looking into business opportunities in the food and beverage (F&B) sector. One of the F&B sector's contemporary uses for honey is the production of commercial beverages. The process of fermenting honey to create sweet alcoholic beverages like meads, honey wines, and honey beers is also gaining popularity. Honey's therapeutic properties are anticipated to play a significant role in the expansion of the global honey market. The growing consumer preference for natural alternatives to artificial sweeteners is a major factor driving the projected growth of the global honey market to 2.4 million tonnes. It's becoming more and more common to ferment honey to make sweet alcoholic drinks. The ability of honey to heal is anticipated to play a significant role in the growth of the global honey market.
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Honey Market Overview:
Vitamins, minerals, calcium, and antioxidants are abundant in honey, all of which are good for your health. Additionally, honey has health advantages, such as the capacity to raise metabolic activity, keep blood pressure levels stable, reduce the risk of diabetes, and even heal burn scars. In addition to food and drink, honey is used in a wide range of products, including cosmetics and pharmaceuticals, which is expected to boost market growth. Because the availability and productivity of honey are influenced by local climates, the majority of production is concentrated in a small number of nations, primarily in North and South America, Asia, and Europe.
COVID 19 Impact:
The market is affected by COVID-19, and as that impact grows in 2019 and 2020, it will also affect the growth rate. Businesses and organisations are being forced by the COVID-19 crisis to digitise operations and manage risk to provide decision-makers with reliable data and experiences. This is supported by the most recent MMR research, opinions, and insights on the management issues that have the greatest market impact on businesses and organisations.
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Honey Market Segment:
The Global Honey Market is divided into three categories based on application: Food & Beverages, Personal Care, and Pharmaceutical & Cosmetics. With a market share of more than 70.2% in 2021, the Food and Beverages segment led the global honey market. Due to the widespread use of honey in restaurants, non-alcoholic beverages, and bakery products. One of the major problems on the international market is product adulteration. According to forecasts, the personal care and cosmetics market will expand at the fastest rate, with a CAGR of over 7% from 2022 to 2029. The potential for the honey market is anticipated to increase with the rising use of natural sweeteners in organic bakery goods and confectionery. Due to these developments, it is anticipated that honey sales will increase and reach US$ 15.2 billion in 2019.
Top Companies in Honey Market:
- 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.
- Golden Acres Honey Products Ltd.
- HoneyLab Ltd.
- PA & SC Steens Ltd.
- Polar-Honey Finland (Lappi-Hunaja)
- Rowse Honey Limited
- Savannah Bee Company
Regional Analysis:
- North America (United States, Canada and Mexico)
- Europe (UK, Germany, France, Italy, Russia, Sweden, etc.)
- Asia-Pacific (China, Japan, South Korea, India, Australia, ASEAN, and Rest Of APAC)
- South America (Brazil, Argentina, etc.)
- Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
Important Features of the Reports:
- Comprehensive overview of the Honey market.
- Honey Market drivers, restraints, opportunities, and challenges region-wise.
- Explanations for market share and segmentation in detail.
- Current market trends and advancements
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