Honey Market Size Expected to Surge with Increased Adoption by 2033
The food processing industry has registered significant advancements in the recent years and has provided a viable alternative to honey, thus propelling growth in the honey industry. Food retail industry is also experiencing a hopeful growth, and acquiring tremendous speed thus providing a boost to the honey industry. The development is triggered due to the need for varietal honey such as Manuka honey, Blueberry honey, and Dandelion honey. The mono-floral honey production is on the rise in recent years hence also elevating the demand for varietal honey.
The current evolution of honey market trends are being seen
because of the collective count of the functional food industries, beverage
industries and nutritional food industries in all the regions of the world. The
broad assortment of honey's flavors is a new market trend. Furthermore, the
craft brewing industry is employing differently flavored honey to pair the
flavor of the beer to be brewed.
With the growing requirement for all to have a healthy
lifestyle, the consumers all over the world are more towards consuming food
products made of natural ingredients, instead of consuming food products with
unnatural or chemical additives. Also, as said in Ayurveda, honey possesses
gigantic medicinal properties, and proper quantity can cure numerous health
disorders like atherosclerosis. The phenolic compounds in honey avoid the risk
of atherosclerosis and other cardiovascular diseases. The growing health
consciousness among consumers will boost the demand for healthy ingredients and
foods and consequently boost the demand for honey across the world.
Wide Range of Industrial Applications Creating Lucrative
Opportunities:
The consumption rate of honey is rising worldwide, thanks to
its diversified applications and advantages, which indeed makes a prominent
contribution to the food and drink industry in the world. The unique blend of
physical characteristics and attributes like flavor and color of honey is
drawing different food industries like bakery, confectionery, breakfast and
cereals, sauces, frozen foods, ice creams, marmalades, beverages, chocolates,
snack bars and nutritional food products. Presently brewing companies are
employing honey for extensive purposes like flavoring agent as well as natural
sweeteners in beer brewing which is gaining momentum for the varietal,
mono-floral honey.
The majority of food products made today are certain to have
honey as a component, which functions as a prebiotic, antioxidant, clarifying
agent, fermentation agent, as well as imparting a flavor to the food. Since
most consumers know that honey is rich in lots of health benefits and also
facilitates weight loss, food items whose ingredients include honey are likely
to be opted for by health-conscious consumers worldwide. Faultless taste,
honey's flavor and nutritional facts easily make it possible for the
manufacturers of food items to utilize it as a low-calorie and healthy
substitute of sugar as an additive.
Distribution of
Spurious Honey Spoiling Consumer Faith towards Honey Purchase:
Some incidents have occurred in recent times, where the
majority of honey products being marketed in supermarkets across various parts
of the country were discovered to contain no pollen in them. Introduction of
adulterants, antibiotics, and toxic substances in honey that is labeled as
organic, is making consumers wary of purchasing honey products from foreign and
popular brands. These incidents have been undermining the consumer confidence,
which eventually affects its demand. Consumers are opting to buy these products
from local traders to have the good quality of honey and genuine honey
products. There are limited available brands having synthetically added sugars
therefore consumers are not confident in buying these products due to a lack of
trust. Frauds such as honey laundering are occurring all over the world and posing
challenges to the healthy development of the international honey market.
East Asia to Dominate
the Regional Landscape:
East Asia's supremacy in honey market is anticipated to
prevail, with a market share of almost 35% by 2029-end owing to emerging food processing
industries, along with growing number of functional food and confectionary
& bakery industry, especially in East Asia, which will keep on supporting
the growth of honey market in the region. Honey market in Europe, is
experiencing a rising trend of bakery and confectionary industries and
expanding the horizon of honey industry. This will create avenues for valuable
opportunities for honey market in Europe.
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