Honey Market Intelligence

Honey Market Description

Asia-Pacific is the largest and fastest growing market for honey with a CAGR of 5.2 percent till 2020. The major honey producing regions are China, Europe, India, Turkey, and the U.S., accounting for more than 60 percent of the global production. Major exporters of industrial honey are China, India, and Argentina while the U.S., Germany, and Japan are the leading importers with Japan having the highest import duties of 20.5 percent. Although China produces low-costing honey, it is also of low-quality, decreasing its popularity. Top suppliers are Rowse Honey, Lamex Foods Limited, and Dabur India Ltd.

The report provides a comprehensive overview of the honey market at a global level, examining the market for organic and industrial honey. The report presents an analysis of the drivers and constraints of honey production, identifying major producing regions. The report includes a trade analysis of import and export dynamics of honey at a global level, discussing the different grades of honey and cost implications of local sourcing versus importing. The best practices of the honey industry are analyzed in the report, and quality indicators are examined. The report presents a detailed price and cost analysis, and includes detailed supplier profiling.

Report Coverage

Import Restrictions
Industry Best Practices
Price Analysis
Cost Implications of Local Sourcing vs. Importing
Supplier Profiles

Honey Market Trend, Analysis & Forecast

Category Intelligence on Honey covers the following

Information relating to market, supply, cost, and pricing analysis
Hard to find data on cost and TCO models, supplier details, and performance benchmarks
Macroeconomic and regional trends impacting cost, supply, and other market dynamics
Category-specific negotiation and sourcing advice

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Executive Summary

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Market Analysis

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Supply Analysis

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Cost & Pricing Analysis

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Best Practices

Honey Client Insights Summary
Honey Category Intelligence Summary
Market Overview of Honey
Honey Trade Analysis
Honey Industry Analysis
Honey Price and Cost Analysis
Profiles of Global Honey Suppliers

Global Market Outlook on Honey

Asia-Pacific is the largest and fastest growing market with a CAGR of 5.2 percent over the forecast period and captures a dominant share of 41.2 percent.Steady decline in global honey crop could be attributed to many factors including pesticides like nionicotinoids and climatic changes.

China is the world’s largest producer and also consumer of honey which consumes 55-70% to meet its domestic need. The global honey market is projected to reach 2.4 million tons majorly driven by growing consumer preference for natural alternative to artificial sweeteners.
Declining bee population, consolidation activity and integration efforts by honey companies could influence the future market of honey.

Major Producing Regions

Asia-Pacific accounts for more than 50 percent of the global production. Although China constitutes more than 30 percent of the global production, India would be a potential source for buyers located in Asian countries.

China is the world's largest country of beekeeping, honey production exporter and also the power consumption of honey. However, due to quality concerns, India would be preferred over China

Increasing food & beverage consumption in the US has an incremental impact on the growth of North America’s honey market
Meanwhile, spanning agricultural industry in Asia-Pacific countries and presence of food manufacturing plants, which are owned by global F&B companies, are expected to bulk up the revenues garnered in Asia Pacific’s honey market

Organic Honey Market

Organic honey supply is anticipated to witness a two percent increase y-o-y. Environmental concerns, together with an increasingly healthy lifestyle of consumers stimulates the growth of organic honey.

New entrants of organic honey would find it difficult to compete with the international vendors based on quality, reliability, innovations in technology and to enter into the market with authenticated certifications

North America: Organic honey imports by the US constitute 10 percent of the total honey with majority of imports coming from Brazil. Organic honey continues to drive the growth of retail sales in US and Canada
Europe: Germany is the largest European market followed by France and the UK and other, mainly West European, countries. Germany represents 10 percent of the global organic honey market
Asia: India and China are emerging markets for organic honey with an increasing consumer preference and growing key players in these regions

Indian Honey Market

Buyers could procure their honey from India, which has eminent global players and also one of the largest producers of quality honey.

Indian honey production witnessed a steady growth from 2005 with the branded honey market growing at a CAGR of 10 percent annually. Indian honey production in 2016-17 was estimated at 91076 MT constituting approximately 6 percent of the global production.

Drivers and Constraints-Honey Production

Barriers of apiculture farming is unlikely to be a paramount threat to the future honey production since remedial measures have been initiated in the major producing regions.The major constraints of apiculture farming are the prevalence of honey bee predators, lack of improved apiculture equipment and lack of market oriented apiculture farming system.

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