The global Honey Market size is expected to reach USD 13.57 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.2% from 2022 to 2030. Increased demand for nutritious and natural sugar alternatives and healthy spreads is expected to drive the market. The growing demand for vegan and organic honey products, including soups, challah, and hot toddy, is likely to fuel the overall growth of this market.
In addition, inclination towards the use of natural
ingredients including honey by several pharmaceutical companies for treatments,
such as hemodialysis, diabetic foot ulcers (DFUs), autolytic debridement,
mucositis, vernal keratoconjunctivitis, and hemorrhoid, will fuel the market
growth. Honey infused with natural ingredients helps boost the body’s healing
process at a faster rate.
The conventional processing segment held the largest
revenue share in 2021 and is expected to maintain its lead over the forecast
period. The popularity of these products due to a variety of applications in
the food and beverages and beauty and personal care industries is the key
factor driving the segment. New product launches by companies in this segment
are projected to fuel the market growth.
The hypermarkets and supermarkets distribution channel
segment held the largest revenue share in 2021. Owing to the shopping
experience offered by these establishments, a large percentage of people prefer
to buy products from hypermarkets and supermarkets. Other key reasons
contributing to the expansion of this distribution channel are the opportunity
to physically inspect these products and the assistance provided. The market is
characterized by the presence of a few well-established players and several
small and medium players.
Related Press Release@ Honey Market Report
Honey Market Report Highlights
- The organic processing segment is projected to register the fastest
CAGR of 5.9% from 2022 to 2030 as manufacturers are launching various
organic products owing to consumer demand
- The online distribution channel segment is expected to register the
fastest growth rate during the forecast period owing to a shift in
consumer shopping behavior. Due to the availability of doorstep delivery,
easy payment methods, and significant discounts, consumers prefer buying
honey products from online websites
- Asia Pacific is expected to register the highest CAGR from 2022 to
2030 due to the emerging markets of China and India. The growing number of
new product launches and rising concerns over health are likely to
positively influence the growth of the Asia Pacific market
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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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