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Honey Market Size

Report ID: GMI6851
Published Date: Oct 2023
Report Format: PDF

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Honey Market Size

Honey Market size was valued at around USD 8.66 billion in 2023 and is estimated to register a CAGR of 5.1% from 2024 to 2032. Driven by rising awareness among consumers of the health advantages of honey consumption. Honey's popularity as a unprocessed, natural, antioxidant-rich alternative to refined sugars has grown as more people seek natural and healthy sweeteners.

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Honey is a versatile culinary ingredient that enhances the tastes of foods & beverages. Its distinct composition, which is high in vitamins, antioxidants, and minerals, can provide health benefits such as produce energy, easing a sore throat, and assisting in wound healing.

Honey Market Report Attributes
Report Attribute	Details
Base Year:	2023
Honey Market Size in 2023:	8.66 billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	5.1%
2032 Value Projection:	13.72 billion
Historical Data for:	2018 to 2032
No. of Pages:	180
Tables, Charts & Figures:	185
Segments covered:	Type, application, distribution channels, and region
Growth Drivers:	Increasing awareness of the health benefits of honey Growing demand for organic and natural products Expanding applications of honey
Pitfalls & Challenges:	Seasonal and regional variability Competition from other sweeteners

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Seasonal and geographical fluctuation constrains the honey market significantly. Honey production is heavily influenced by seasonal variations and the availability of nectar-producing flowers, resulting in varying yields throughout the year. Furthermore, production of honey varies by region owing to variances in vegetation, temperature, and beekeeping procedures. This geographical heterogeneity can result in inconsistencies in supply levels and pricing, making it difficult for honey producers and suppliers to fulfil constant demand while maintaining predictable revenue streams.

Authors: Kiran Pulidindi, Manish Dhiman

Frequently Asked Questions (FAQ) :

The market size of honey was worth USD 8.66 billion in 2023 and is estimated to cross USD 13.72 billion by 2032, driven primarily by rising awareness among consumers of the health advantages of honey consumption.

Food and beverages held a dominant market share of around 69.4% in 2022. Honey demand in the F&B sector is increasing as customers seek natural and healthier sweetening options, along with honey's adaptability and distinct flavor profile.

The U.S. honey market was valued at USD 804.2 million in 2022 and is anticipated to expand at a significant pace from 2023 to 2032, favored by the increased demand for honey as a natural sweetener and component in personal care goods, food and drinks, and medications.

Beeyond the Hive, GloryBee, Barkman Honey LLC, Dabur India Ltd., Golden Acres Honey, Capilano Honey Ltd., Savannah Bee Company, New Zealand Honey Co., Streamland Biological Technology Ltd., Bee Maid Honey Ltd, and Oha Honey LP among others.