The global honey market size was worth around USD 9.41 billion in 2023 and is predicted to grow to around USD 14.96 billion by 2032 with a compound annual growth rate (CAGR) of roughly 5.4% between 2024 and 2032.
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Overview of the global honey market
Made by bees, honey is a natural sweetener obtained from nectar extraction of the flowers. Carbohydrates, minerals, nitrogenous elements, and water define honey’s main components. Furthermore, the product is regarded as a main substitute for sugar and can be classified both in terms of color and countless variants. Apparently, the type of flower from which nectar a given sort of honey is harvested determines its taste. Moreover, there are pasteurized as well as raw varieties of honey accessible.
World Honey Market: Dynamics of Growth
Changing consumer inclination towards healthy as well as nutritious option for sugar and artificial sweetener would drive the market rise over the projected years. Furthermore, honey fermentation for the production of sweet alcoholic beverages is probably going to provide fresh avenues of development for the honey business throughout the expected period. Apparently, honey may be kept for a longer period and does not need refrigerators, which helps to guide the company environment. Moreover, great positive impacts of the product on human health will increase the expansion of the honey business over the next years.
Furthermore, extensive use of honey in drug production will help to further support the steady expansion of the company over next years. Besides this, growing popularity of the product among consumers who are health-conscious will drive the growth of the market in the next years. Honey apparently has a lot of anti-oxidants, which will help to leverage the market over the next years.
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The Global Honey Market is segmented based on product, application and region
Global Honey Market: Product Segment Analysis
● Alfalfa Honey
● Wildflower Honey
● Buckwheat Honey
● Acacia Honey
● Clover Honey
● Others
Global Honey Market: Application Segment Analysis
● Food and Beverage
● Personal Care Products
● Pharmaceuticals
● Others
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The Global Honey market profiles key players such as:
● Barkman Honey
● Comvita Ltd.
● Navrang
● Lamex Food Group
● Caprilush International
● Dabur India Ltd.
● DucCuongPhat Company
● Rowse Honey
● Capilano Honey Ltd.
● Beeyond The Hive
● Bee Maid Honey Ltd.
● Nuxten Health
● Billy Bee Honey Products
● Dutch Gold Honey
● Groeb Farms
Asia Pacific Market Expected to Maintain Number One Position Through 2024–2032
Mass consumer awareness of the product’s anti-inflammatory, anti-microbial, and anti-oxidant properties explains the fast expansion of industry in Asia Pacific during the projected timeline. Furthermore, massive honey harvesting in nations like China and India would drive industry expansion throughout the projected period. Big scale investments in the honey production company on the sub-continent will double the market development in next years.
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