The Organic Honey Market was valued at $605 million in 2020 and is anticipated to reach $1,060.40 million by 2030 at a CAGR of 5.50%, according to a recent report from Allied Market Research.
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The pollen from plants grown organically is used to make organic honey, which is also produced without using chemical miticides on the bees. By purchasing organic honey, consumers may be sure that they won’t come into touch with pesticides that may be applied to or close to the plants that honeybees visit. Due to consumers’ growing knowledge of the benefits of eating properly, the market for organic honey has seen a surge in demand.
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.
CXOs further added that utilization of honey in drugs and health products is increasing, which is fueling the demand for organic honey. In addition the increase urbanization led to increase in standard of living increase in the literacy. The increasing awareness about health, earning, and other essential things among everyone is fueling the demand for organic food products in the market such as organic honey. However, entry of local players in honey production is restraining the organic honey market. Moreover, organic honey retains moisture within the skin. As a natural anti-inflammatory, organic honey calms irritable skin, especially skin impacted by hormonal fluctuations. This is a major factor responsible for rise in the demand for organic honey in the market as consumers demand sugar substitutes for consumption. Therefore, the awareness regarding organic honey is on rise among the consumers globally directly or indirectly, which has propelled the demand for organic honey in the market.
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.
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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.
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