Organic Honey Market Size 2021 by Revenue Estimates, Capacity, Price, Gross Margin and Forecast to 2027 Research Report by Absolute Reports
The global honey market size was valued at USD 9.21 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 8.2%. A major factor driving the market growth includes high demand for nutritious food products, such as honey, on account of rising awareness about the benefits of maintaining a healthy lifestyle. Honey is an excellent source of numerous nutritional ingredients including vitamins, minerals, calcium, and antioxidants. Moreover, honey has several medicinal properties and can help improve metabolic activities, maintain blood pressure levels, reduce the risk of diabetes, and can even heal burn wounds. Thus, honey is widely used in many applications apart from food & beverages, such as cosmetics and pharmaceuticals, which is also estimated to augment the market growth.
The production and supply of honey depend on the country’s climatic conditions; hence, few regions, such as North and South America, Asia, and Europe hold the majority of production. However, China has emerged as a key exporter of honey in Europe and North America in the past few years.
In 2020, due to the global pandemic, the demand and supply for various products were significantly impacted. The demand for honey was surged substantially across the globe owing to its excellent medicinal properties. Beekeepers in collaboration with the local government are trying hard to regain the production and supply chain’s pace as consumers worldwide are paying more attention to a healthy lifestyle and immunity enhancement.