As per the report by Grand View Research, Inc., the Honey Market is poised to rise to a valuation of 14.4 billion by 2025 and is estimated to witness a CAGR of 8.0 % during the forecast period (2019-2025). Rising use of honey as a healthy substitute for sugar and artificial sweeteners, as an energy source, for weight-loss, and as immunity system builder are the foremost drivers of the market.

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Shift in the customer preference toward nutritious, healthy, and natural substitute for sugar and sweeteners is expected to be a leading factor driving the market growth. Additionally, the product is anticipated to gain increased attention as it offers great antioxidant, antibacterial, anti-inflammatory, and antimicrobial characteristics.
Increasing value of honey as a premium ingredient in nutraceuticals and its scientifically proven medicinal benefits are the factors driving the market growth further. Rising demand for honey in medicines and cosmetics is anticipated to create new opportunities for the market in the forthcoming period.
Key players in the market have been increasingly investing in developing countries such as Taiwan, India, Bangladesh, and Thailand in order to increase their presence in untapped locations. 7-Eleven, one of the largest convenience store chains, signed an agreement with Future Group in February 2019, in order to launch its first series of stores in India.
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Major players are also opting for strategies such as mergers and acquisitions, expansion of the distribution channel, and collaborations to gain maximum market share. In April 2019, Wales Hilltop launched three range of products namely, manuka honey, core honey, and organic fairtrade honey in the U.K. retail market. This new product launch is anticipated to surge the product outlook and will boost the people to accept organic and all-natural products rather than harmful sugar.
In January 2018, Emami Ltd., a leading FMCG company in India, launched organic and pure honey under the brand name ‘Zandu Pure Honey’ for their health-conscious consumers. The company aims to provide a pure product with zero sugar content.
In 2018, Europe was the foremost consumer in the market and accounted for more than a 30.0% share of the global volume. In addition, Asia Pacific is anticipated to be the fastest developing market, growing at a revenue-based CAGR of 8.5% in the forecast period. The strong position of apiculture, along with high concentration of middle-income age-groups in countries such as China and India, is projected to promote investments by the prospective market players in the coming years.
Leading manufacturers are accepting numerous marketing strategies comprising product innovation, product launches, mergers and acquisitions, retail chain expansion in order to gain a competitive edge in the market. Some of the key players effective in the honey market are Dabur India Ltd., Beeyond the Hive, Capilano Barkman, Patanjali Ayurved, Bee Maid Honey Ltd., Oha Honey LP, Dutch Gold, and Streamland Biological Technology Limited.
About Grand View Research:
Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world's renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.
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