Honey Market to Grow at a Positive CAGR of 5.1% During the Forecast Period 2019 – 2029

Honey Market to Grow at a Positive CAGR of 5.1% During the Forecast Period 2019 – 2029

The processed food industry has showcased impressive developments in the present years and has offered a feasible enhancement to honey, thereby driving expansion in the honey market. Retail food industry is seeing an optimistic growth, and gaining massive momentum thus giving an impetus to the honey market. The growth is spurred owing to the demand for varietal honey like Manuka honey, Blueberry honey, Dandelion honey.  The production of the mono-floral honey is increasing over the last few years thus boosting the demand for varietal honey.

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The current evolution trends of honey market are being witnessed due to the cumulative number of the functional food industries, beverages industries and nutritional food industries across all the regions of the globe. The wide range of flavors of honey is a new trend in the market. Moreover, the craft brewing industry is using differently flavored honey to match the flavor of the beer to be brewed.

With the escalating need for everyone to lead a healthy lifestyle, consumers across the globe are more inclined towards consuming food products with natural ingredients, rather than consuming food products with unnatural or chemical additives. Also, as mentioned in  Ayurveda, honey has enormous medicinal properties, and correct amount  can heal many health disorders such as atherosclerosis. The phenolic compounds present in honey prevent the risk of atherosclerosis and other cardiovascular disorders. The rising health awareness among buyers will surge the demand for healthy foods and ingredients, thus, increasing the demand for honey globally.

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The rate of consumption of honey is increasing across the globe, due to its versatile uses and benefits, which certainly creates a prominent impact on the food and beverage industry in the world. The interesting combination of physical appearance and properties such as flavor and color of honey is attracting various food industries like bakery, confectionery, breakfast and cereals, sauces, frozen foods, ice creams, marmalades, beverages, chocolates, snack bars and nutritional food products. Today brewing industries are using honey for wide applications such as flavoring agent as well as natural sweeteners in the beer brewing which is increasing traction for the varietal, mono-floral honey.

Most of the food products produced today are sure to have honey as an ingredient, which acts as a prebiotic, antioxidant, clarifying agent, fermentation agent, along with adding a flavor to the food. As many consumers are aware of the fact that honey offers ample health benefits and helps in losing weight, food products that have honey as an ingredient are more likely to be preferred by health-conscious consumers across the globe. Impeccable taste, flavor of honey and its nutritional facts easily enable the food product manufacturers to use it as a healthy and low-calorie substitute of sugar as a sweetener.

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