"Market Intelligence that Adds Flavour to Your Success"
Honey food is a sweet, viscous food substance that is made by the honey bees using the nectar from the flowers. Honey food is rich in nutrients such as vitamins, natural sugars, calcium, and minerals. It has extensively replaced table sugar in their daily diet due to its several health benefits, along with being, naturally fat-free, cholesterol-free, and helps in boosting immunity. Further, the World Health Organization (WHO) recommends the consumption of honey food as a potential natural remedy to relieve cough and inflammation. This has led to an increase in demand and consumption of honey food in the global marketplace.
The consumer’s shifting preferences toward organic and clean-label products due to their health benefits has led to an increase in demand for organic honey, thus fuelling its market growth. Moreover, the technological advancements and innovations to increase honey production has also contributed in market growth. For instance, in 2015, BeeInventive Pty Ltd. introduced Flow Hive that eases the honey harvesting process without opening the hive to extract.
The shifting consumer preferences towards honey as a natural, healthy, and nutritious alternative to artificial additives is a major factor driving its market. The honey food has widely gained traction as it possesses antioxidant, anti-inflammatory, and anti-microbial properties, along with having an indefinite shelf life. Further, the growing inclination towards minimally processed food additivities and wide inclusion of honey in daily diet are also the factors boosting the market growth.
According to a research paper published by the National Center for Biotechnology Information (NCBI) in 2018, honey food despite its health benefits contains 35% glucose and 40% fructose, which can be detrimental for health. According to National Institutes of Health (NIH) high sugar diets lead to various health ailments such as obesity and diabetes, which acts as a restraint in the market growth. Moreover, the availability of other natural sweeteners such as palm sugar and coconut sugar syrup is also likely to hamper the market.
Key Market Driver -
Growing Popularity of Honey as a Food Additive
Key Market Restraint -
High Sugar Content in Honey leads to Several Health Ailments
The key companies operating in the global honey food market are, McCormick & Company, Inc., Dabur India Ltd., Capilano Group, Barkman Honey, LLC., Bee Maid Honey Limited, Comvita Limited, Beeyond the Hive, Lamex Food Group Limited, New Zealand Honey Co., and Dutch Gold Honey.
The table honey segment is likely to account for the major share in the market due to the growing incorporation of honey instead of regular table sugar by the consumers as a healthier natural sweetener. Table honey is widely used as spreads on breads and other products as an alternative to jams by the health-conscious consumers. Further, the replacement of sugar syrup with honey in various beverages such as tea, juices, and smoothies is also a factor fuelling market growth.
Supermarkets and hypermarkets are anticipated to be the leading distribution channel due to the growing preference and reliability of consumers on these mass merchandisers to purchase grocery products. The availability of numerous options and varieties in honey coupled with other household product availability under the same roof has boosted the market growth. In addition, the increasing number of supermarkets in developing economies have also contributed in the sales performance of honey food.
North America is anticipated to hold the major share in the market as the honey food is widely consumed due its readily accessible sugars, proteins, amino acids, and minerals. According to the US Department of Agriculture (USDA), in 2017, nearly 2.67 million honey-producing colonies generated 1.47 million pounds of raw honey in the U.S. According to National Honey Board in 2017, the annual per capita consumption of honey in the U.S. is approximately 1.51 pounds per year. Further, the consumption of honey continues to rise with an average of nearly one-pound honey consumed per person in 2017, then the previous consumption of 0.5 pounds in 1990.
Asia Pacific is expected to foresee significant growth due to the strong presence of apiculture in countries like India and China, along with the growing health consciousness among the consumers. China and India are among the global producers and consumers of honey. The consumption of honey to relieve cough, inflammation, and to boost immunity is since time immemorial in India. Thus, these factors are expected to cumulatively aid in regional market growth.
To gain extensive insights into the market, Request for Customization
By Distribution Channel
“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”- U.S.-based biotechnology company focussing on treatment of chronic pain.
“Kudos to your team. Thank you very much for your support and agility to answer our questions.”- Europe-based provider of solutions to automate data centre operations.
“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”- India-based manufacturer of industrial and specialty intermediates with a strong global presence.
“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”- One of the largest cosmetics company in the world.
“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”- U.S. based startup operating in the cultivated meat market.
“We received the below report on the U.S. market from you. We were very satisfied with the report.”- UGlobal hearing aids manufacturer.
“I just finished my first pass-through of the report. Great work! Thank you!”- U.S. based solar racking solutions provider.
“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”- World’s leading advisory firm.
“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”- Germany based machine construction company.
“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”- Japanese manufacturing company of stationery products.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry