(MENAFN- EIN Presswire) Organic Honey market
Rise in demand for organic food among people across the globe, increase in the number of fitness enthusiasts around the world.
PORTLAND, OR, US, July 19, 2023/einpresswire.com / -- Allied Market Research published a report titled, "organic honey market by Type (Alfalfa, Buckwheat, Wild Flower, Clover and Others), Application (Food & Beverages, Personal Care, Pharmaceuticals, Households, and Others), and Packaging (Glass Jar, Bottle, Tub and Others): Global Opportunity Analysis and industry Forecast, 2021–2030". According to the report, the global organic honey market was estimated at $605 million in 2020, and is anticipated to hit $1.06 billion by 2030, registering a CAGR of 5.5% from 2021-2030.
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Drivers, Restraints and Opportunities
Rise in demand for organic food among people across the globe, increase in the number of fitness enthusiasts around the world, surge in demand for high nutrient content and quality food, growing awareness about healthy foods among people are expected to drive the growth of the global organic honey market. On the other hand, rising concerns about the purity of the product is expected to hinder the growth to some extent. However, rise in utilization of honey in drugs and health products is expected to create tremendous opportunities in the industry.
Regional Outlook:
The organic honey market is segmented on the basis of type, application, packaging and region. On the basis of type, the market is classified into natural alfalfa, buckwheat, wild flower, clover and others. On the basis of application, the market is categorized into food & beverages, personal care, pharmaceuticals, households and others. The packaging segment is categorized into glass jar, bottle, tub and others. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain and Rest of Europe), Asia-Pacific (Japan, China, Australia, India and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).
Global Key Players:
Heavenly Organics, LLC,
Little Bee Impex,
Nature Nate's Honey Co.,
Barkman Honey,LLC,
Dabur Ltd.,
GloryBee, Inc.,
Rowse Honey Ltd.,
McCormick & Company,
Madhava Honey LTD,
Dutch Gold Honey, Inc.
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By application, the food and beverage segment accounted for the highest market share in 2020, garnering nearly one-third of the organic honey market. Rise in the prevalence of honey as a healthier alternative to sugar drive the segment growth. The same segment is anticipated to cite the fastest CAGR of 5.9% during the forecast period, due to surge in the prevalence of honey-sweetened food and drinks.
A large shift in consumer's preference toward organic products witnessed, large growth for organic honey market. The U.S. organic product sales increased by 12.4% in 2020, breaking the $60 billion mark for the first time and more than doubling the previous year's growth. In addition, consumers spending on health has increased, owing to about 62% metropolitans buying organic, an increase of 95% in the last 5 years, according to a survey undertaken by the Associated Chambers of Commerce and Industry of India (ASSOCHAM). This shows the shift of consumers toward organic products, the demand for which is rising and is expected to remain positive in the future. Therefore, the organic honey market demand is anticipated to rise in the future as people prefer organic honey, which has wide benefits in food & beverages, pharmaceuticals, and this has propelled the organic honey market growth.
Recently, there is also an increase in number of product launches in different flavors, types, and packs. Such factors coupled with rising consumer awareness about the various health benefits of using organic honey will increase honey imports. For instance, Dabur Honey, one of the honey producers in India has launched organic honey in two flavors-Chocolate and Strawberry.
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Key Findings of the Study
By type, the organic honey market size of buckwheat segment remained the dominant segment in 2020, and is expected to gain market share in the coming years.
By application, food & beverages sector is anticipated to grow with a moderate CAGR during the organic honey market forecast period.
By region, North America led in terms of the global organic honey market share in 2020, and is expected to retain its dominance during the forecast period.
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