Natural Honey Market: Current Analysis and Forecast (2022-2028)

Report Description

The natural honey market is expected to register a CAGR of around 7.3% over the period of 2022-2028F. Natural honey is a sweet-flavored liquid food produced by various pieces of wild bees. It is largely used as a natural sweetener and the best alternative to white sugar for health-oriented people. Increasing consumer inclination towards for healthy and natural alternatives over artificial sweeteners, high nutritional value of natural honey, application in cosmetics & skincare products, product’s longer shelf-life and high affordability are majorly driving the growth of the natural honey market. For instance, in May 2021, Conscious Food has introduced new raw unprocessed Himalayan multiflora honey, a completely unfiltered and unpasteurized product that retains the immense natural benefits of honey as it travels ‘from bee to the bottle’, and so on. Furthermore, the natural honey market is anticipated to grow on account of the advancement in R&D and technology which has increased the usage of honey in food & beverage, and cosmetic industry. However, some of the restraints in the market including the expensive natural honey, availability of regular honey products, increased competition in the natural honey market.

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Beeyond The Hive, Barkman Honey LLC, Comvita Ltd., Capilano Honey Ltd., New Zealand Honey Co., Billy Bee Honey Products, Little Bee Impex, Ambrosia Natural Products Pvt. Ltd., Hilltop Honey Ltd., Bee Natural Honey are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst type, the monofloral honey in natural honey category accounted for the significant share in the market”

Based on the type, the natural honey market is segmented into monofloral honey and polyfloral honey. Buckwheat, a monofloral variety, is widely popular in Russia, China, and several European economies. The demand for this product type is high due to its high nutritional value, less sweet taste, and high presence of antioxidants. Buckwheat product type also has various medicinal properties, so its demand for cough syrup production is rising rapidly

“Amongst application, the food and beverage category are expected to witness considerable CAGR during the forecast period”

Based on the application, the market is fragmented into food & beverage, personal care & cosmetic, nutraceutical, and others. The food and beverages segment holds the largest market share. The potential of honey to impart a pleasant flavor to food and beverage products, along with their easy accessibility and longer shelf life of the product is boosting market demand.

“Asia Pacific to witness significant growth during the forecast period”

Asia Pacific constitutes a major market for the natural honey industry owing to the increasing production volume of the product and consumption across region’s countries having large population and increased per capita income are factors to drive the regional market. The Manuka honey is majorly exported from New Zealand which has unique properties and preferred by the premium consumers.

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Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

Global natural honey market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Global Natural Honey Market Analysis (2022-2028)

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global natural honey market were the three major steps undertaken to create and analyze the adoption of natural honey in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global natural honey market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the natural honey market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the natural honey market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as the type and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the natural honey market. Further, we conducted factor analysis using dependent and independent variables such as an increased consumer spending on health and globally growing preferences for healthy & natural alternatives over artificial sweeteners, etc. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the natural honey market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global natural honey market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the natural honey across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global natural honey market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global natural honey market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and application in the global natural honey market.

The main objective of the Global Natural Honey Market Study

The current & future market trends of the global natural honey market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the natural honey market in terms of Value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of type and application
• Define and analysis of the regulatory framework for the natural honey market industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the natural honey market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
• Company profiles of the natural honey market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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