Allied Market Research published a report titled, “Organic Honey Market by Type (Alfalfa, Buckwheat, Wild Flower, Clover and Others), Application (Food & Beverages, Personal Care, Pharmaceuticals, Households, and Others), and Packaging (Glass Jar, Bottle, Tub and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030″. According to the report, the global organic honey market was estimated at $605 million in 2020, and is anticipated to hit $1.06 billion by 2030, registering a CAGR of 5.5% from 2021-2030.
Drivers, Restraints and Opportunities
Rise in demand for organic food among people across the globe, increase in the number of fitness enthusiasts around the world, surge in demand for high nutrient content and quality food, growing awareness about healthy foods among people are expected to drive the growth of the global organic honey market. On the other hand, rising concerns about the purity of the product is expected to hinder the growth to some extent. However, rise in utilization of honey in drugs and health products is expected to create tremendous opportunities in the industry.
In the view of CXOs, the market condition for honey and other natural sweetener is supposed to be improve. However, demand for organic food is increasing significantly. U.S. organic product sales increased by 12.4% in 2020, breaking the $60 billion mark for the first time and more than doubling the previous year’s growth. This resulted in high demand for organic honey in the market.
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COVID-19 Scenario
- The outbreak of COVID-19 has had a negative impact on the growth of the global organic honey market, owing to the prevalence of lockdowns in various countries across the globe. Lockdowns led to the closure of manufacturing plants, including those of organic honey.
- In addition, stringent import and export restrictions imposed by the government created hassles in distribution strength and production capacity.
- However, the market is expected to recoup soon.
The buckwheat segment to lead the trail
By type, the buckwheat segment generated the highest share in 2020, garnering two-fifths of the organic honey market. Ability of organic buckwheat to improve recovery after surgical procedures with high blood loss drives the segment growth. The Alfalfa segment, on the other hand, is expected to cite the fastest CAGR of 6.0% during the forecast period. This is due to the fact that they have antibacterial properties and offer a probiotic action.
The food and beverage segment to maintain the lion’ share
By application, the food and beverage segment accounted for the highest market share in 2020, garnering nearly one-third of the organic honey market. Rise in the prevalence of honey as a healthier alternative to sugar drive the segment growth. The same segment is anticipated to cite the fastest CAGR of 5.9% during the forecast period, due to surge in the prevalence of honey-sweetened food and drinks.
North America to dominate by 2030
By region, North America held the majority share in 2020, holding nearly one-third of the organic honey market, owing to the rise in the number of health-conscious individuals in this region. The Asia-Pacific, on the other hand, is expected to exhibit the fastest CAGR of 6.2% during the forecast period, owing to the rise in industrialization in this region.
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Prominent Market Players
- Heavenly Organics, LLC,
- Little Bee Impex,
- Nature Nate’s Honey Co.,
- Barkman Honey,LLC,
- Dabur Ltd.,
- GloryBee, Inc.,
- Rowse Honey Ltd.,
- McCormick & Company,
- Madhava Honey LTD,
- Dutch Gold Honey, Inc.