Natural Honey Market: Current Analysis and Forecast (2022-2028)

Natural Honey Market: Current Analysis and Forecast (2022-2028)

The natural honey market is expected to register a CAGR of around 7.3% over the period of 2022-2028F. Natural honey is a sweet-flavored liquid food produced by various pieces of wild bees. It is largely used as a natural sweetener and the best alternative to white sugar for health-oriented people. Increasing consumer inclination towards for healthy and natural alternatives over artificial sweeteners, increased health & fitness consciousness, easily availability of products, high nutritional value and increasing awareness trends about the benefits of honey are majorly driving the growth of the natural honey market. For instance, in May 2021, Conscious Food has introduced new raw unprocessed Himalayan multiflora honey, a completely unfiltered and unpasteurized product that retains the immense natural benefits of honey as it travels 'from bee to the bottle’, and so on. Furthermore, the natural honey market is anticipated to grow on account of the advancement in R&D and technology which has increased the usage of honey in food & beverage, and cosmetic industry. However, some of the restraints in the market including the expensive natural honey, increased competition in the natural honey market, reduced natural resources, availability of regular honey products, pollen allergies.

• Based on the type, the natural honey market is segmented into monofloral honey and polyfloral honey. Buckwheat, a monofloral variety, is widely popular in Russia, China, and several European economies. The Buckwheat segment holds the maximum natural honey market share as buckwheat honey improves recovery after surgical procedures with high blood loss. The demand for this monofloral product type is rising due to its high nutritional value.
• Based on the application, the market is fragmented into food & beverage, personal care & cosmetic, nutraceutical, and others. The use of natural honey in the food and beverage industry for prebiotics, fermented beverages, sports nutrition has increased rapidly. The food and beverages are the fastest growing segment owing to increasing interest in healthier alternatives to sugar, wherein food manufacturers are offering more honey-sweetened food and drinks.
• For a better understanding of the market adoption of the natural honey market, the market is analyzed based on its worldwide presence in the countries such as North America (The U.S., Canada, and Rest of North America), Europe (Germany, The U.K. France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific), and Rest of World. Asia-Pacific constitutes a major market for the natural honey industry owing to the because of China's vast territory, rich nectar source, large population, and improvement in people's living standards are the reasons for the rise in domestic natural honey production.
• Some of the major players operating in the market include: Beeyond The Hive, Barkman Honey LLC, Comvita Ltd., Capilano Honey Ltd., New Zealand Honey Co., Billy Bee Honey Products, Little Bee Impex, Ambrosia Natural Products Pvt. Ltd., Hilltop Honey Ltd., Bee Natural Honey among others. Several M&A’s along with partnerships have been undertaken by these players.