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Honey Market Size - By Type (Organic Wildflower honey, Monofloral honey), By Application (Food and beverages, Personal care and cosmetics, Pharmaceuticals), By Distribution Channels (Supermarkets, Convenience Stores, Online Retailers) & Forecast, 2024 – 2032

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

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.

 

Honey Market

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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.
 

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.

 

COVID-19 Impact

The COVID-19 pandemic had a mixed impact on the honey industry. Initially, there was a surge in demand for honey due to its perceived health benefits and immune-boosting properties. Consumers turned to honey as a natural remedy. However, disruptions in supply chains, including transportation and labor shortages, affected the production and distribution of honey in some regions.

 

Honey Market Trends

The honey industry is expanding due to rising consumer demand for natural and healthy sweeteners, as well as honey's growing appeal for its numerous culinary applications and supposed health advantages. This expansion is being fueled by a focus on ethical sourcing, sustainability, and creative product options, such as flavored and infused honey varieties, as well as expanded market access via e-commerce and worldwide trade.

 

Honey Market Analysis

Honey Market Size, By Type, 2021 - 2032 (USD Billion)

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Monofloral honey segment exceeded 6.53 billion in 2022. Consumers' growing interest in unique varity kinds of honey with different tastes, smells, and potential health advantages is driving demand for monofloral honey. Monofloral honey, which is obtained from the nectar of individual blooming plants, provides customers with a more tailored and premium honey experience, which is frequently connected with specific geographical terroirs and unique floral flavors.

 

Honey Market Revenue Share, By Application, (2022)

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Food and beverages segment captured around 69.4% of honey market share in 2022 and is expected to observe lucrative pace by 2032. Honey demand in the food and beverage industry is increasing as customers seek natural and healthier sweetening options. Honey's adaptability and distinct flavor profile make it a popular component in a variety of items, including drinks such as smoothies, teas, and specialty cocktails, as well as cereals, salad dressings, baked goods, and marinades.

 

Supermarkets/hypermarkets held a dominant market share in 2022 and is likely to grow at a 4.9% CAGR through 2032. These stores provide a wide range of honey brands and product varieties, including flavored, organic, and speciality honey, to meet the demands of various customers. Additionally, buyers looking for trustworthy sources of honey frequently visit supermarket and hypermarket chains due to the confidence and brand familiarity connected with them.  
 

U.S Honey Market Revenue, 2021 - 2032 (USD Million)

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U.S dominated the North America with majority market share and a revenue of USD 804.2 million in 2022 and is anticipated to expand at a significant pace from 2023 to 2032. The honey market in the United States is expanding fast and is likely to expand more in the coming years. The increased demand for honey as a natural sweetener and component in personal care goods, food and drinks, and medications is driving the demand. The growing emphasis on health-conscious and ecologically sustainable consumption supports the market's continuous demand for honey in the United States.
 

Honey Market Share

Some of the major market players operating in the honey market are:

  • 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
  • Oha Honey LP
  • Billy Bee Honey Products
  • Little Bee Impex
  • Dutch Gold Honey, Inc.
  • Comvita

These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the honey market.
 

Beeyond the Hive is committed to producing high-quality honey products. The company's honey is raw and unfiltered, which means that it retains all its natural enzymes and nutrients. Beeyond the Hive also sources its honey from sustainable beekeepers who use humane beekeeping practices.
 

Global Honey Company Market Share (%), (2022)

Honey Industry News:

  • In March 2023, Bagrrys India, a renowned breakfast cereals and health food company in India that produces mueslis, oats, muesli bars, corn flakes, bran, nut butters, and other goods, announced the release of Bagrry's Organic Wild Honey.
     

This honey market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Kilo tons from 2018 to 2032, for the following segments:

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Market, By Type

  • Organic Wildflower honey
  • Monofloral honey (flavoured honey)
    • Clover
    • Orange
    • Buckwheat
    • Others

Market, By Application

  • Food and beverages
  • Personal care and cosmetics
  • Pharmaceuticals
  • Others

Market, By Distribution Channels

  • Supermarkets/ Hypermarkets
  • Convenience Stores
  • Online Retailers
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Indonesia
    • Malaysia 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE

 

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.

Honey Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 185
  • Countries covered: 21
  • Pages: 180
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