Honey Market to grow by USD 5.57 billion from 2022 to 2027; The rise in private-label products to drive market growth – Technavio

NEW YORK, Nov. 23, 2023 /PRNewswire/ — The honey market is expected to grow by USD 5.57 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 9.39% during the forecast period. Health benefits associated with honey are notably driving the honey market. However, factors such as high cost of production and transportation may impede market growth. The market is segmented by distribution channel (offline and online), type (conventional and organic), and geography (APAC, Europe, North America, South America, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The Free sample report is available in PDF format 

Key Segment Analysis

The market share growth by the offline segment will be significant during the forecast period. In this sector, specialty shops have a wide range of brands and product portfolios which include both brand-specific and multibranded ranges across all their stores. By opening their own stores manufacturers and distributors can plan for marketing, advertising, promotions, brand building, training, or information technology support budgets. This autonomy allows them to gain direct contact with consumers, while they are not dependent on independent retailers. Offline honey product distributors, on the other hand, are facing a challenge from an increasing number of Internet distribution channels. 

To know additional highlights and key points on various market segments and their impact in coming years, View the Free PDF Sample Report.

Geographical Market Analysis 

APAC is estimated to contribute 49% to the growth of the global market during the forecast period. Countries such as China, India, and Japan produce considerable volumes of honey to fuel growth in this region. These are the most important honey-exporting countries, in particular China. Major suppliers prioritize the provision of transport and storage facilities with a view to reducing food waste and decreasing price increases in the supply chain, as part of their efforts to address food safety concerns. As a result of government investments and initiatives such as the National Beekeeping and Honey Mission NBHM under the Atmanirbhar Bharat Abhiyan, India’s honey market is on the rise.

Company Insights 

The honey market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including Alpalair Wellness Pvt. Ltd., Barkman Honey LLC, Bee Maid Honey Ltd., Beeyond The Hive LLC, Capilano Honey Ltd., Comvita Ltd., Dabur India Ltd., Dutch Gold Honey, Golden Acres Honey Products Ltd., Little Bee Impex, New Zealand Honey Co., Oha Honey LP, PA and SC Steens Ltd., Savannah Bee Co., Sioux Honey Association Crop., Sweet Harvest Foods Inc., Valeo Foods Ltd., Wedderspoon Organic Inc., McCormick and Co. Inc., and Patanjali Ayurved Ltd.

View the Free PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

Related Reports:

The Soy and Milk Protein Ingredients Market size is projected to increase by USD 6,850.31 million and the market size is estimated to grow at a CAGR of 4.89% between 2022 and 2027.

The Oligofructose Market size is projected to increase by USD 5,040.66 million and the market size is estimated to grow at a CAGR of 11.32% between 2023 and 2028.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Distribution Channel

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio