Global Honey Food Market is valued approximately at USD XXX billion in 2019 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2020-2027. Honey is considered to be a potential replacement for table sugar as it has multiple health benefits such as presence of antioxidants which prevent cellular damage. Thus, the growing awareness regarding health benefits of honey drives the market growth. Moreover, the escalating health consciousness among the population has fueled the demand for natural sweeteners.. Thus, the escalating health consciousness aids the market growth. Moreover, the surging use of honey as a food additive such as in production of commercial beverage such as sweet alcoholic drinks, where honey is fermented during the production fuels the market growth. Moreover, owing to the health benefits of honey its use in therapeutics has escalated expanding the demand for honey in verticals such as drug production, healthcare facilities and production for medicinal disposables. Thus, the growing utilization in pharmaceuticals also supports the market growth. The surging demand for honey necessitates extensive production of Honey which is met by increasing bee colonies producing honey. As per United States Department of Agriculture, in 2018 US honey production from producers with five or more colonies totaled 152 million pounds an increase of 2% from 2017. Further, the year also witnessed an increase of 4% in number of bee colonies reaching 2.80 million by the end of 2018. However, sugar profile of honey may hamper the market growth over the forecast period of 2020-2027. Although, advent of technology to maintain the health and strength of honey hives presents growth opportunities for the Honey food market.
The regional analysis of global Honey Food market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the higher clinical and medical studies and rise in Food and beverage consumption in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income and growing presence of food manufacturing plants would create lucrative growth prospects for the Honey Food market across Asia-Pacific region.
Major market player included in this report are:
- Barkman Honey, LLC.
- Bee Maid Honey
- Beeyond the Hive
- Capilano Honey Ltd.
- Dutch Gold Honey
- Lamex Food Group Limited
- McCormick and Company, Inc
- Steens Honey
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
- Table Honey
- Cooking Ingredient Honey
- Hypermarkets and Supermarkets
- Convenience Stores
- Specialty Stores
- North America
- Asia Pacific
- South Korea
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
- Historical year – 2017, 2018
- Base year – 2019
- Forecast period – 2020 to 2027
Target Audience of the Global Honey Food Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers