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The global honey market size is anticipated to witness a significant rise in the forthcoming years, owing to increased awareness regarding the benefits of consuming honey. The health-conscious population is actively looking for sugar alternatives, and honey is a good natural sweetener is widely consumed all over the world.
A few of the prominent companies are adopting standout business strategies with a view to establishing a stronghold in the honey market. Golden Heritage Foods, LLC., Dabur India Limited, Bee Maid Honey Limited, and Golden Acres Ltd. are among the key vendors that are currently operating in the global honey market.
Honey is a viscous liquid produced by using industrious bees, which extract nectar from a flower. Honey is categorized as a natural sweetener and has anti-oxidants and flavonoids which potentially helps in the prevention of various cardiovascular diseases and cancer. The flavor of honey may vary, depending on the type of source flower from which the nectar was obtained.
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The presence of sugary content in honey is of great importance for the production of sweet food products & beverages for patients suffering from diabetes, high cholesterol, and high blood pressure. Rapidly growing demand for healthy snack and beverage product is expected to escalate the demand for honey as a natural ingredient to sweeten products. Furthermore, advancements in food technology is expected to aid the growth of the global honey market in the upcoming years.
The presence of antibiotics in honey manufactured by various prominent honey brands can hinder their global growth. For instance, in 2010, the European government banned the import of Indian honey in all the European countries, due to presence of antibiotics within them.
By type, the global honey market has been segmented into flower honey, acacia honey, linden honey, date honey, and others. Date honey is projected to witness a rapid rise during the forecast years owing to an increase in its demand among consumers, as the product is a rich source of fibers, minerals, vitamins, and energy.
Acacia honey is expected to grow at a considerable pace in the forthcoming years, due to the presence of low sucrose and high fructose levels in the honey type, which can be utilized for medicinal purpose or by patients suffering from diabetes. By Application, the global honey market has been segmented into food & beverage, cosmetics & personal care, pharmaceuticals, and others.
The application of honey in food & beverage segment is anticipated to be the highest during the forecast period, owing to increased use of honey as a natural sweetener, in food & beverage products. Food & beverage manufacturers are focusing on the use of natural sweeteners or sweetening agent in food products, due to growing consumer demand for sugar-free products. Antibacterial and antioxidant properties of honey are further projected to boost its demand across the food & beverage industry.
Asia Pacific is projected to dominate the global honey market during the forecast period, owing to increased consumption of honey and honey products in emerging countries such as India and China, attributed by the health benefits of honey. Increasing production of honey in Asia Pacific, coupled with its increased use as natural sweeteners is expected to further boost the growth of the honey market of the region. Furthermore, medicinal benefits offered by pure honey is projected to fuel its demand in developed markets of Europe and North America, along with emerging economies of Asia.