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Honey Market Trends, Growth, Share, Size and Forecast Research Report 2027

The global honey market size is likely to reach USD 11.16 billion by 2027, registering a CAGR of 5.2% during the forecast period. Honey possesses antibacterial and antiseptic properties. Additionally, it is a natural and healthier alternative to artificial sweeteners. Fortune Business Insights™ has presented this information in an upcoming report titled, “Honey Market, 2020-2027”. The market size stood at USD 7.19 billion in 2019.

According to the report, honey is gaining immense popularity due to several reasons. For instance, the proven health benefits of honey’s consumption are anticipated to flourish the market in the forthcoming years. Due to the pandemic, the demand for immunity-enhancing products like honey is on the rise and is expected to significantly drive the market growth in the forecast period.

COVID-19 Impact:

The global pandemic has wreaked staggering and unprecedented havoc on several industries and markets. However, the coronavirus pandemic has augmented the global honey market growth due to the growing need for immunity-boosting products. The antibacterial, anti-fungal, and antiviral properties of honey are expected to expand its demand even after the pandemic’s end. The market has observed a steep rise in demand for honey due to the pandemic and is expected to rise significantly during the forecast period.

However, the dynamics of various sectors have changed drastically due to lockdowns, curfews, and social distancing norms. Disruptions in supply chains, production lines, and operations are stagnating the market growth. It is uncertain to say how long the situation may persist this way. Nonetheless, our research report’s in-depth analysis will help you gain an exhaustive understanding of this niche market.


On the basis of its type, the market fragments into buckwheat, clover, alfalfa, wildflower, alacia, etc. On the basis of its application, the market segments into personal care & cosmetics, pharmaceuticals, food & beverages, etc. On the basis of its packaging, the market divides into tubes, bottles, tubs, glass jars, etc. Geographically, the market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage:

The report showcases quantitative and qualitative insights into the prospected market. The report encompasses the effects of the COVID-19 pandemic on the market, PESTLE Analysis, and Porters’ Five Forces Analysis for an unerring prediction of the prospected market. The report compiles all the mandatory segments that fall under the global honey market. The report is developed using bottom-up and top-down approaches for an exhaustive study of the market.

The report presents information gathered through interviews with multiple stakeholders at regional, country, and global levels. The report also highlights the competitive landscape of the market, including the information on rankings of key players, key market trends, recent industry developments, mergers & acquisitions, etc.

Drivers & Restraints:

Rising Health Consciousness & Demand for Immunity-Boosting Products to Drive Market

Consumption of artificial sweeteners and sugar can cause health damage. Whereas honey is a natural sweetener and possesses medicinal benefits on its consumption. The antibacterial, antiviral, and anti-fungal properties of honey, along with the long shelf-life and low cost, are some key factors that are positively driving the market growth. Honey is also utilized by the pharmaceutical industry for the manufacturing of liquid dietary supplements and cough syrups due to its anti-inflammatory properties. It is helpful in treating throat infection and acute cough detected in corona-infected patients. Honey is an excellent natural immunity booster and is experiencing a surge in demand during the pandemic.

The National Institute for Health and Care Excellence (NICE) and the Public Health England (PHE) guidelines recommend honey has played a pivotal role as a primary method for treating respiratory tract infection observed amongst COVID-19 patients. The rising health consciousness and the growing inclination towards a healthy lifestyle are expected to augment the market growth along with the aforementioned factors.

However, honey adulteration and the presence of substitutes like maple syrup and stevia are expected to restrain the market growth.

Regional Insights:

Asia Pacific to Hold the Lion’s Share

Countries like India, China, Australia, etc., are experiencing a surge in the production and consumption of honey. Rising government investments in countries like India are expected to propel the market growth significantly. Most recently, under the Atmanirbhar Abhiyan, the Government of India allocated nearly USD 68 million in May 2020 for beekeeping. Additionally, China is amongst the leading exporters and producers of natural honey across the globe. These factors are expected to help the Asia Pacific register the highest revenue in the global honey market share.The increasing consciousness regarding honey’s health benefits is expected to help Europe hold the second position in market growth.The escalating number of apiarists in Canada and U.S. are expected to positively influence the market growth in North America.

The rising personal disposable income and increasing population are surging the demand in countries like South Africa, Saudi Arabia, etc. This is expected to help the Middle East &Africa witness considerable growth in the forthcoming years.

Competitive Landscape:

Product Innovation, New Launches, Expansions to Amplify Market Growth

The fairly fragmented honey market consists of numerous players operating at regional and global levels. These players are emphasizing several strategies like distribution or sales channel expansion, base expansion, etc., to stay at the top of the game. With the shifting consumer preference towards a healthy lifestyle, several opportunities for innovation and growth are expected to prevail in the forecast period. For instance, Manuka launched a vitamin supplement line of products named Manuka Plus in July 2019, inciting innovation in the natural sweet liquid industry.

Browse Detailed Summary of Research Report with TOC:
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É possível ganhar dinheiro no iFood?
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Distributor Management
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Dairy Foods Market Companies, Consumption, Drivers, Trends, Forces Analysis, Revenue, Challenges and Global Forecast 2027
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Nutraceuticals Market Growth, Business Prospects, Forthcoming Developments and Future Investments by Forecast to 2027
The global nutraceuticals market size is expected to gain momentum by reaching USD 658.11 billion by 2028 while exhibiting a CAGR of 9.3% between 2021 and 2028. Fortune Business Insights in its latest report, titled, “Nutraceuticals Market, 2021-2028.”, mentions that the market stood at USD 320.00 billion in 2020. Factors such as the increasing personalization in nutritional diet and the increasing investment in R&D activities are expected to propel the demand for the product in the forthcoming years. For instance, in July 2019, General Mills announced its collaboration with GoodBelly to produce and distribute lactose-free yogurts and a probiotic-based cereal to cater to the growing demand from consumers. Therefore, the increasing focus on the personalization of nutrition has propelled companies to introduce healthy food products worldwide. Massive Spike in Demand for Healthy Food Products amid COVID-19 The COVID-19 pandemic has brought upon a turbulent time for several economies worldwide. However, it has also been an eye-opener for people globally to adopt a healthy and nutritious diet with a core focus on building strong immunity. The demand for vitamins and minerals has surged significantly and people are consuming immunity-boosting products to ensure protection from chronic and infectious diseases. This is expected to bode well for the growth of the market in the forthcoming years. Market Segmentation: Based on product type, the market is trifurcated into dietary supplements, functional foods, and functional beverages. On the basis of product type, the dietary supplements segment held a global nutraceuticals market share of about 19.12% in terms of revenue in 2020 and is likely to experience considerable growth. This is due to the several companies focusing on expanding their dietary supplement production facilities to cater to the growing consumer demand. Based on the distribution channel, the market is categorized into hypermarkets/supermarkets, convenience stores, online retail, and others. Lastly, on the basis of region, the market is segregated into Asia-Pacific, North America, Europe, South America, and the Middle East and Africa. What does the Report Include? The global market for nutraceuticals report includes an in-depth analysis of the market and focuses on crucial aspects such as materials, leading companies, applications, and products. Also, the report offers insights into the latest trends and highlights key industry developments. The report further includes historical data & forecasts revenue growth at global, regional, and country levels and analyzes the industry's latest dynamics and opportunities that will impact the market growth between 2021 and 2028. DRIVING FACTORS Increasing Investment in Product Development to Favor Growth In January 2020, Archer Daniels Midland Company announced the acquisition of Yerbalatina Phytoactives, a leading manufacturer of natural plant-based extracts and ingredients. The company with its investment aims to strengthen its position in the market. Similarly, several companies are focusing on investing in R&D activities to develop and introduce health-benefiting food products to cater to the growing demand for nutritious products worldwide. Moreover, the development of natural food products devoid of any harmful substances will boost the global nutraceuticals market growth in the forthcoming years. REGIONAL INSIGHTS Asia-Pacific to Remain at Forefront; Demand for Functional Foods to Increase in North America Among all the regions, Asia-Pacific is expected to remain dominant and hold the highest position in the market during the forecast period. The dominance is attributable to the presence of a large population and the improving living standards in countries such as India, Japan, and South Korea, among others that will boost the demand for nutraceuticals in the region. Moreover, the region stood at USD 124.70 billion in 2020. The market in North America is expected to hold the second position in the market backed by the increasing demand for plant-based nutritional products and the growing demand for functional food in countries such as the U.S. between 2021 and 2028. COMPETITIVE LANDSCAPE: Merger and Acquisition between Major Companies to Brighten their Market Prospects The global market comprises small, medium, and large companies that are striving to maintain a stronghold. The large companies are focusing to expand their nutraceuticals portfolio by acquiring other small companies. Moreover, other key players are adopting strategies such as facility expansion, partnership, and collaboration to gain a competitive edge over their rivals that will favor the market growth in the forthcoming years. Key Industry Development: September 2020 - Nuliv Science introduced a new compound, Senactiv that helps to promote muscle energy and regeneration. The company further reports that the new sports product is manufactured taking into consideration the surging demand for dietary supplements among consumers. Browse Detailed Summary of Research Report with TOC: https://www.fortunebusinessinsights.com/nutraceuticals-market-102530