Last Updated on February 18, 2023 by admin
The market for organic honey was valued at $605 million in 2020 and is projected to reach $1.06 billion by 2030. Between 2024 and 2030, the market will expand at a CAGR (Compound annual growth rate) of 5.5 percent.
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Demand for honey is expected to increase
As consumers worldwide increase their demand for organic food, the global honey market is expected to grow. A growing number of fitness enthusiasts worldwide, an increase in nutritional food demand, and consumer knowledge of healthy food alternatives contribute to this trend.
On the other side, it is anticipated that growing worries over the product’s quality may partially impede expansion. With the growing demand for organic honey from consumers and manufacturers increasing their offerings in the food service industry, market players are set to witness promising growth.
Different kinds of honey have unique tastes, smells, and nutritional profiles. The nutritional makeup of the many forms of organic honey is another essential aspect influencing its use in many businesses.
The market of Organic Honey
Over 2024-2032, the worldwide market for organic honey is anticipated to grow at a CAGR (Compound annual growth rate) of 7.8%. Due to the widespread use of lockdowns in several nations worldwide, the COVID-19 epidemic has hampered the growth of the worldwide organic honey business.
Lockdowns resulted in the shutdown of production facilities, including those that produced organic honey.
Qualities of Natural Sweeteners
Due to growing health concerns, young consumers are choosing natural sweeteners over artificial ones, which has resulted in a considerable rise in demand for these products.
Natural sweeteners are beneficial to the body’s nutrition and are secure for ingestion. People seek natural organic sweeteners to replace white sugar in various applications, such as tea, coffee, yogurt, baked goods, and others.
Proteins, polyphenols, amino acids, and terpenoids are present in natural sweeteners. These give the finished products safety, security, a delicious flavor, and high-quality nutrients that health-conscious clients frequently use. In 2020, the honey market, which accounted for two-fifths of the need for organic honey, produced the most outstanding share by kind.
Expansion of the market is driven by organic honey’s capacity
The expansion of this market is driven by organic honey’s capacity to accelerate healing following operations with significant blood loss. On the other hand, the alfalfa segment is anticipated to register the quickest CAGR of 6.0% throughout the projection period.
The food and beverage segment to maintain the lion’s share
By application, the food and beverage sector accounted for roughly one-third of the market share for organic honey in 2020. The business is expanding as more people use flame as a healthy substitute for sugar. As honey-sweetened foods and beverages become more popular, this category is predicted to have the fastest CAGR of 5.9%.
How to make honey wine?
Water, yeast, and organic honey are used to make honey wine. Many parts of the world have a considerable need for the commodity. Due to its reputation as one of the earliest alcoholic beverages used by ancient Greeks, Romans, and Africans, demand for this drink is rising. Adding this feature to the product gives it Unique Selling Point (USP).
The growing manufacturing of alcoholic drinks is driving the demand for organic honey. Adult alcohol consumption is rising, and the most healthy substitute for standard alcoholic beverages is honey wine. A nutritious beverage option for customers, honey wine, has multiple advantages, including various minerals, vitamins, and enzymes.
North America to dominate by 2030
In 2024, Europe will hold a 25.3% value share of the worldwide market for organic honey, followed by the Middle East & Africa, which will have a 23.6% share. With a market share of more than 60%, the food and beverage industry is one of the top users of organic honey. Organic honey makes up 9% to 15% of the worldwide honey market in terms of value.
Due to the growth in the population of health-conscious people in this area, North America had the largest share of the organic honey market by region in 2020, accounting for about one-third of the whole market. On the other hand, the Asia-Pacific is predicted to see the fastest CAGR of 6.2% during the projected period due to the region’s rising industrialization.
Honey’s target market is the eCommerce industry. Customers look for the most affordable offers that apply to any product or service they consider purchasing to save as much money as possible.
The value of the global honey market was estimated to be USD 8.92 billion in 2021, and it is anticipated to increase at a CAGR of more than 5.3% to reach USD 25.8 billion by 2030. (2022–2028).