(MENAFN- GlobeNewsWire - Nasdaq) The Global Honey Food market Size was Valued at USD 8.94 Billion in 2023 and the Worldwide Honey Food Market Size is Expected to Reach USD 14.53 Billion by 2033, according to a research report published by Spherical Insights & Consulting. Companies covered: McCormick & Company, Inc., Dabur India Ltd., Capilano Group, Barkman Honey, LLC., Bee Maid Honey Limited, Comvita Limited, Beeyond the Hive, Lamex Food Group Limited, New Zealand Honey Co., Dutch Gold Honey., Billy Bee Honey Products, Pastili Limited, MeliBio, Saffola Honey, Bagrry's India, and Other key vendors.
New York, United States , July 31, 2024 (GLOBE NEWSWIRE) -- The Global Honey Food Market Size is to Grow from USD 8.94 Billion in 2023 to USD 14.53 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.98% during the projected period.
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Honey is a sweet and viscous substance made by honey bees from flower nectar. It is rich in vitamins, natural sugars, calcium, and minerals, making it a popular alternative to table sugar. Its numerous health benefits include being naturally fat-free, cholesterol-free, and boosting immunity. Rising health awareness is a significant driver of the global honey market, as consumers increasingly prioritize natural and nutritious food choices. With a growing focus on avoiding refined sugars and artificial ingredients, honey has become a favored alternative due to its natural sweetness and health benefits, including essential vitamins, minerals, and antioxidants. Its reputation as a remedy for common health issues, such as coughs and inflammation, further enhances its appeal. This shift towards healthier eating habits encourages manufacturers to develop and market honey-based products, expanding the market and meeting the rising demand for natural and wholesome sweeteners. However, the honey bee population is crucial for honey production, its health is increasingly at risk due to climate change, habitat loss, and pesticide use. These threats can lead to reduced honey production and potentially disrupt the entire honey market.
Browse key industry insights spread across 213 pages with 110 Market data tables and figures & charts from the report on the " Global Honey Food Market Size, Share, and COVID-19 Impact Analysis, By Type (Raw, Conventional, Processed, Organic, Manuka, Clover, Others), By Application (Spreading, Beverage, Culinary, Medicinal), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail, Specialty Stores), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The conventional segment dominates the market with the highest market share of the honey food technology market during the projected period.
Based on the type, the honey food market is divided into raw, conventional, processed, organic, manuka, clover, and others. Among these, the conventional segment dominates the market with the highest market share of the honey food market during the projected period. Conventional honey remains the leading choice in the honey market due to its cost-effectiveness, widespread availability, and familiar flavor that appeals to a diverse consumer base. Its affordability makes it attractive to budget-conscious shoppers, while its extensive presence in grocery stores and food products ensures easy accessibility. The well-known taste of conventional honey caters to a wide range of preferences, solidifying its position in the market and appealing to both everyday consumers and those seeking a reliable, traditional sweetener.
The spreading segment holds the highest market share in the honey food market during the projected period.
Based on the application, the honey food market is categorized into spreading, beverage, culinary, and medicinal. Among these, the spreading segment holds the highest market share of the laser technology market during the projected period. Honey's dominance is primarily due to its long-standing popularity as a breakfast spread, valued for its natural sweetness and ease of use. Its versatility allows it to be enjoyed on a variety of foods, from toast and muffins to pancakes and waffles, enhancing its appeal. Additionally, the convenience of honey as a ready-to-use spread makes it a household staple, Strengthening its leading market position. The ongoing popularity of honey as a breakfast item, along with its growing use in various culinary applications, drives its strong presence in the spreading segment.
The supermarkets/hypermarkets segment holds the highest market share in the honey food market during the projected period.
Based on the distribution channel, the honey food market is categorized into supermarkets/hypermarkets, convenience stores, online retail, and specialty stores. Among these, the supermarkets/hypermarkets segment holds the highest market share of the honey food market during the projected period. Supermarkets and hypermarkets dominate the honey food products market share due to their widespread availability and broad consumer reach. As primary sales channels, these retail outlets offer a diverse range of honey products under one roof, providing convenience for consumers. Their extensive networks and high foot traffic ensure that honey food products are accessible to a large audience, contributing to their leading market position. The ability of supermarkets and hypermarkets to stock various honey brands and types further enhances their appeal and solidifies their role as the top sales venues for honey food products.
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North America is expected to hold the largest share of the honey food market over the forecast period .
North America is expected to hold the largest share of the honey food market over the forecast period. Due to the widespread consumption of honey, valued for its readily available sugars, proteins, amino acids, and minerals, North America is anticipated to dominate the honey market share. According to the USDA, nearly 2.67 million honey-producing colonies generated 1.47 million pounds of raw honey in the U.S. in 2017. The National Honey Board reported that annual per capita honey consumption in the U.S. was about 1.51 pounds in 2017, a significant increase from 0.5 pounds per person in 1990. This rising consumption trend highlights North America's strong position in the honey food market.
Asia Pacific is predicted to grow at the fastest pace in the honey food market during the projected period. The region is expected to see substantial growth in the honey market due to the prominent apiculture industry in countries like India and China, along with rising health awareness among consumers. Both China and India are major producers and consumers of honey, with honey in India traditionally used for its benefits in relieving coughs, reducing inflammation, and boosting immunity. These factors are anticipated to drive significant growth in the regional honey market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the honey food market are McCormick & Company, Inc., Dabur India Ltd., Capilano Group, Barkman Honey, LLC., Bee Maid Honey Limited, Comvita Limited, Beeyond the Hive, Lamex Food Group Limited, New Zealand Honey Co., Dutch Gold Honey., Billy Bee Honey Products, Walmart, Pastili Limited, MeliBio, Saffola Honey, Bagrry's India, Others.
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Recent Developments
In April 2024, Walmart is launching a premium food line that will feature products across 15 categories, including plant-based, gluten-free, and those without artificial flavors. Among the new offerings is Hot Honey Seasoning.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the honey food market based on the below-mentioned segments:
Global Honey Food Market, By Type
Raw Conventional Processed Organic Manuka Clover Others
Global Honey Food Market, By Application
Spreading Beverage Culinary Medicinal
Global Honey Food Market, By Distribution Channel
Supermarkets/Hypermarkets Convenience Stores Online Retail Specialty Stores
Global Honey Food Market, By Regional Analysis
North America Europe Germany UK France Italy Spain Russia Rest of Europe
Asia Pacific China Japan India South Korea Australia Rest of Asia Pacific
South America Brazil Argentina Rest of South America
Middle East & Africa UAE Saudi Arabia Qatar South Africa Rest of the Middle East & Africa
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Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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