Honey Market

Honey Market Outlook (2023-2033)

Worldwide consumption of honey is anticipated to increase at a 5.4% CAGR and the market is expected to rise from a valuation of US$ 9.7 billion in 2023 to US$ 16.4 billion by the end of 2033.

Consumers are preferring the use of natural and organic sweeteners as compared to sugar and artificial sweeteners, and this trend has majorly influenced the demand for honey and is expected to drive demand in the future as well. The rising diabetic and obese population across the world is expected to primarily drive the consumption of honey and honey-based sweeteners as they are healthier alternatives to artificial sweetening agents.

The growing availability of organic honey, increasing awareness about its benefits, hike in demand for natural sweeteners, growing use of honey in drug production, rising adoption of healthy lifestyle trends, and longer shelf-life of honey are some of the key factors that are expected to boost honey shipments through 2033.

However, adulteration of honey to improve profitability is a serious issue that hinders market growth and is expected to impede honey consumption characteristics throughout the forecast period as well. The rising adoption of sweetening alternatives such as maple syrup and stevia is also anticipated to inhibit honey market development over the coming years.

Demand for honey in the Asia Pacific region is anticipated to rise at the fastest pace over the coming years owing to changing consumer preferences, rising production of pure honey, the growing availability of organic honey, and increasing disposable income of people in this region. India, China, Japan, and Korea are slated to be the prime markets in the APAC region through 2033.

• As per statistics provided by the Food and Agriculture Organization of the United Nations (FAO), China is the largest exporter of honey in terms of volume, and the nation exported around 145.89 thousand tonnes of honey in 2021.

A comprehensive regional analysis discussing all the key drivers, trends, opportunities, and challenges have been profiled in this updated honey market research survey by skilled analysts at Fact.MR, a market research and competitive intelligence provider.

Report Attributes	Details
Honey Market Size (2023)	US$ 9.7 Billion
Projected Market Value (2033F)	US$ 16.4 Billion
Global Market Growth Rate (2023-2033)	5.4% CAGR
Europe Market Share (2022)	35%
United States Market Growth Rate (2023-2033)	6% CAGR
Key Companies Profiled	Royal-Bees EOOD Valeo Foods Adee Honey Farms LP Uren Food Group Miller Honey Farms Inc. Paynes Bee Farm Ltd. Wholesome Sweeteners Inc. Hain Daniels Group Wedderspoon Organic Inc. Beechworth Honey Pty Ltd. Dabur India Ltd. Capilano Honey Ltd. Pastili Limited

Will Start-ups Have a Chance to Revolutionize the Honey Marketplace?

“Israel-based New Honey Companies Could Change Global Honey Demand Outlook”

Israel is a leading start-up hub when it comes to honey and bees. The nation is home to some of the most innovative bee and honey solutions in the world and this is expected to create highly lucrative opportunities for aspiring honey manufacturers around the world.

• BeeHero, a start-up based in California, United States created a smart hive that uses artificial intelligence and innovative hardware to produce optimal results and track bee health. The system is estimated to increase crop yield by up to 30% by creating a more efficient pollination process.
• Beewise, a company founded in 2018 in Israel is focusing on tackling the dwindling bee population problem by creating a modern robotic beehive equipped with artificial intelligence and real-time updates to house 24 bee colonies safely. The new bee housing solution is climate-controlled and solar-powered.
• ToBe, a beekeeping start-up company based in Israel has developed an autonomous anti-varroa device that can detect and treat varroa mites before they can weaken the bee population in a hive. The Hivemaster achieves this by releasing a precise amount of miticides and also provides real-time health updates that help beekeepers make informed decisions.
• Bumblebee AI, a new technology company based in Israel is using artificial intelligence and other technologies to carry out data-driven pollination in a more efficient manner than bees. This solution is also expected to reduce the burden of overworking bees in commercial pollination activities across the world.

Changing consumer preferences and rising demand for vegan products are also expected to provide an opportunistic setting for upcoming honey manufacturers over the coming years.

• Melibio, an American food technology organization is producing honey without the use of honeybees. The company is using microorganisms to produce honey that has an indistinguishable taste and texture as compared to conventional honey.

Incoming honey suppliers are also focusing on raising new capital and finance for their ventures to improve their business potential on a global scale.

• In February 2022, Australian Honey Ventures (AHV), a Western Australia-based honey start-up announced that it had raised around US$ 1.5 million through crowdfunding that was supposed to be utilized to take its medicinal honey toward global markets.

Country-wise Insights

Why is the United States an Opportune Market for Honey Suppliers?

“Rising Number of Beekeepers & High Import of Honey”

The United States is a major importer of honey and this makes it a highly rewarding market for honey suppliers and manufacturers as well. The apiculture industry in the country is flourishing at a rapid pace and this is expected to drive up the production of honey in the country and help in reducing the dependency on imports across the forecast period.

Growing obese and diabetic population, adoption of healthy lifestyles, rising awareness of benefits of honey consumption, and rising availability of organic honey are other factors that are expected to drive sales of honey in the United States at a CAGR of 6% from 2023 to 2033.

How Will Demand for Honey Fare in Japan and Korea?

“Rising Disposable Income Expected to Drive Product Demand”

Consumer preferences in Japan and Korea are changing rapidly owing to globalization and this is expected to prominently influence honey consumption in the aforementioned countries over the coming years. Increasing disposable income and rising availability of raw honey products are other prospects that are expected to govern honey consumption in Korea through 2033.

Increasing demand for healthy sweeteners, growing geriatric population, and rising production of pure honey are key factors that drive honey demand in Japan throughout the forecast period.

Why is Demand for Organic Honey High in Europe?

“Changing Consumer Preferences and Rising Awareness of Benefits Associated with Organic Honey Consumption”

Consumers in Europe have been preferring natural and organic products for quite a while now and this trend has also influenced the demand for organic honey in this region. Rising adoption of healthy lifestyles, growing awareness of benefits of the organic honey, increasing availability of organic label honey products, and rising disposable income are other factors that are expected to drive the consumption of honey in this region.

Germany, France, and the United Kingdom are anticipated to be highly attractive markets for honey in the European region across the forecast period.

Category-wise Insights

What Type of Honey Accounts for Higher Demand?

“Conventional Honey Holds Dominant Market Share”

Based on nature, the market for honey is segmented into conventional and organic.

In 2022, conventional honey accounted for around 80% of the global market share and is expected to maintain a similar stance across the forecast period. High availability and low prices as compared to organic honey are prime factors that contribute to the high consumption of conventional honey around the world.

Increasing awareness about the benefits of organic honey, changing consumer preferences, and growing availability of organic honey at competitive pricing are factors that are expected to contribute to sales of organic honey in the future. Organic honey demand is predicted to rise at a faster CAGR than that of conventional honey through 2033.

Competitive Landscape :

Prime honey suppliers are following strategies that help them expand their market presence and improve sales potential. Mergers, acquisitions, and collaborations are some of the most popular strategies among established market players.

• In January 2022, Sweet Harvest Foods Inc., a leading company in honey procurement and distribution announced the acquisition of Nature Nate’s Honey Co., which offers 100% unfiltered, raw, and pure honey for consumers.

Honey providers are also launching new organic products to meet changing consumer demands across the world.

• In January 2022, Tayima Foods, an India-based company announced the launch of its new 100% raw and organic product called I’M HONEY. The product is available in unique flavors and possesses medicinal properties as well.

Key Segments Covered in Honey Industry Research

• By Product :

  • Clear
  • Varietal
  • Manuka
  • Sourwood
  • Buckwheat
  • Rosemary
  • Dandelion
  • Eucalyptus
  • Others

• By Nature :

  • Organic Honey
  • Conventional Honey

• By Packaging :

  • Glass Jars
  • Plastic Containers
  • Bulk Packaging

• By Industry :

  • Food & Beverages
  • Cosmetics & Personal Care
  • Pharmaceuticals

• By Sales Channel :

  • Business to Business Channels
  • Business to Consumer Channels
  • Modern Trade
  • Convenience Stores
  • Online Retailers
  • Other Channels

• By Region :

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA