Organic Honey Market: Projected Growth & In-depth Analysis Report

Dubai, UAE – 15th Oct 2020:Honey, the natural sweetener produced by the honey bees has been widely used for its therapeutic effects. Human utilization of honey as food and medicine is followed to nearly 8000 years back as portrayed by Stone Age artworks. With a key place in traditional medicine, honey is being subjected to clinical investigations that help establish its name in modern medicine

Honey has been accounted to have an inhibitory effect on around 60 types of microscopic organisms, some species of fungi and viruses. Carbohydrates, water, nitrogenous substances are the major components of honey making it a potential replacement for table sugar. In addition to composition and taste, the freshly extracted honey is a viscous liquid. The retail price of the honey mainly depends on it color. The clear and golden amber honey has a higher selling price as compared to darker shade honey.

Global Honey Market Study 2020 – 2025:

Being a popular food additive that provides a variety of health benefits, the demand for honey is increasing day by day. Increasing demand for this liquid gold and insufficient availability in the apiculture market has been estimated to register a CAGR of 4.3% during the period 2020-2025.

The global honey market is majorly divided into North America, Europe, Asia Pacific, and the Rest of the world based on the regional analysis. The Asia Pacific region has held its strength in the apiculture market attributable to the ascent in production volume and expanded utilization of honey. The Asia Pacific region is estimated to reach 1,162.8 kt in terms of volume by 2023. However, the Rest of the World region including countries such as Latin America, the Middle East, and Africa is projected to expand at a moderate CAGR of 7.31% during the forecast period 2020-2025.

Segmentation:

The apiculture market is broadly segmented based on the type, application, and packaging.

1. Based on the type of honey, the honey market is segmented into –

• Wildflower
• Acacia
• Manuka
• Clover and others

Among all types of honey segments, wild honey is expected to account the greatest market extent and extended to develop at CAGR of 7.35% during the forecast period.

1. Another segment is based on the uses of honey. It comprises of food & beverages, pharmaceuticals, and personal care products. The food & beverage applications are dominating this industry due to continuously increasing demand for bee honey in the food products. The projected CAGR is 7.26% for this segment.
    
2. Last but not the least comes the packaging segment. Among jars, bottles, and tub, the bottle segment is anticipated to represent around 45% of market proportion and extended to develop at CAGR of 6.72% over the survey time of 2020 - 2025.

According to B A Barry, makers of Geohoney, various companies have begun producing honey in their own country because of the growing demand for honey. He pointed out that the honey market in the UAE is described by vitality, with latent chances inside the country, as well as export and re-exports to overseas markets.

The importance of these little creatures extends far more than producing honey and contributing to the pollination of plants and crops. However, exploitation of forests, uses of pesticides in agriculture, and several such reasons resulted in a lack of wild bee food places which in turn has posed a great challenge for beekeepers. But now, health benefits associated with natural honey are gaining acceptance among consumers and is expected to boost the global honey market. Commercial beekeeping will come into the image as the interest for honey from different enterprises is expanding because of therapeutic and corrective reasons which further will drive the apiculture market.