Honey is a natural viscous and sweet substance formed by the bees, which is extracted through the plant’s nectar. The major components of honey include water, carbohydrates, nitrogenous substances, and minerals. Honey is healthy and can be used as a substitute for sugar or other artificial sweeteners. Additionally, honey is filled with antioxidants that offer substantial benefits to the human body.
Growing consumer preferences for a healthy and natural alternative over artificial sweeteners and the increasing awareness about the benefits of honey are majorly driving the global honey market growth. Artificial sweeteners lead to obesity, elevated cholesterol, mineral depletion, mood swings, tooth decay, hypertension, and cardiovascular diseases. They are also responsible for causing Type 2 diabetes, metabolic syndrome, and different types of cancers and tumors. However, unlike nutrient-void processed sugar and chemical-spiked artificial sweeteners, honey has a less glycemic index (GI), which means that it does not raise the blood sugar levels quickly. It helps in decreasing the body’s cholesterol level and helps in weight management. Furthermore, consumers demand honey for using it in home remedies for improved digestion, acne cure, prebiotic support, and exfoliator. This is also driving the growth of the honey market globally. However, health disorders and botulism caused due to raw honey’s intake may restrain the market growth in the upcoming years.
The global honey market is segmented into type, application, and packaging. By type, the market categorized into alfalfa honey, wildflower honey, buckwheat honey, acacia honey, clover honey, and others. Based on application, the market is categorized into personal care products, food and beverage, pharmaceuticals, and others. By packaging, the market is categorized into tub, jar, bottle, tube, and others.
By region, Asia Pacific held the largest market share in 2018 and is expected to continue its regional dominance over the forecast time period as well. This regional growth can be attributed to the rise in the production volume, increasing consumption of honey in the region, growing health concerns among the end-users as honey acts as a natural alternative to sugar. The European region is likely to show moderate growth over the forecast time period in the global honey market, owing to the increase in honey consumption across various end-user industries, such as sauces, mustards, and seasoning flavors.
Some key players operating in the global honey market are Dabur India Ltd., Capilano Honey Ltd., Comvita Ltd., Barkman Honey, Bee Maid Honey Ltd., Billy Bee Honey Products, Lamex Food Group, Caprilush International, DucCuongPhat Company, Dutch Gold Honey, Groeb Farms, Beeyond The Hive, Navrang, Nuxten Health, Rowse Honey, and Zhejiang Jiangshan Bee Enterprise.
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