Consumers Harnessing the Incredible Health Properties of Honey Leading to Market Growth, says Market.us
Honey is an excellent natural ingredient with many health benefits. It is a rich source of minerals, vitamins, and antioxidants, making it an ideal sweetener for consumers looking for a natural alternative to refined sugar.
For centuries honey has been used as a sweetener and in traditional medicines and remedies to treat various illnesses. Modern studies have now confirmed the positive effects of honey on overall health. With the increasing awareness about health and wellness, there has been a surge in demand for nutritious products that provide essential nutrients.
Customers opt for natural and healthy food products such as honey instead of white sugar. One such product is honey, a natural sweetener with numerous health benefits. This article looks at how the high demand for honey has become a prominent market driver and sheds light on why more people recognize the importance of healthy living.
According to the latest report by Market.us,” The global honey market size was USD 8,521 million in 2021. It is projected to increase at a CAGR of 4.6% from 2023 to 2032.”
Gaurav Yadav, a senior research analyst at Market.us, said,” In recent years, sugar and artificial sweeteners have been increasingly scrutinized for their potentially damaging effects on human health. Many people now consider these ingredients undesirable and have changed their attitudes. As processed foods become more prevalent in the food industry, people are becoming more conscious about their health and the foods they consume. It has caused them to look for alternative sweetening options that are more natural and healthier than refined sugar.
As the world population continues to rise, so does the number of people with diabetes and other health conditions. It is due to an increase in diabetes and obesity, along with those with high cholesterol. These individuals are constantly searching for healthier alternatives to sugar that can help them manage their blood sugar levels without sacrificing taste. Market growth is aided by the easy availability of many products and their ability to provide a pleasant taste in food & beverages.
Honey shipments are expected to rise due to the following key factors: increased availability of organic honey, greater awareness of its benefits, increase in demand for natural sweetness enters, rising use of honey in drug manufacturing, rising adoption of healthy lifestyle trends, and longer shelf life are just some of the key factors.
Adulteration of honey for profit is a serious problem that hampers the market growth. The increasing use of sweeteners such as maple syrup or stevia in the future will impede the honey market growth. It is also expected to impact honey consumption patterns over the forecast period.
The Global Honey Market can be divided into Wildflower, Clover Honey Honey, Buckwheat, and Alfalfa. Wildflower Honey is expected to have the largest market share and grow at a CAGR of 7.35% between 2022-2029. In 2021, Buckwheat (33%) and Alfalfa (37%) held the second-highest market share. The Global Honey Market is expected to increase its market share by as much as 60%.
These products are used extensively in the Food and Beverage industry and various food items. The global Honey Market’s market growth was a result of the contributions from the Pharmaceutical, Food, and Beverage industries.
The Global Honey Market can be divided into Food and Beverages, Personal Care, Pharmaceuticals & Cosmetics, and Pharmaceuticals &Cosmetics. It is due to honey’s extensive use in bakery products, non-alcoholic beverages, and restaurants. With a CAGR exceeding 7% between 2022 and 2029, the personal care & cosmetics industry is expected to grow at its fastest rate.
The honey market’s potential will be boosted by the increasing use of natural sweeteners, especially in organic confectionery and bakery products. These developments are expected to increase honey sales to reach US$ 15.2 Billion in 2019.
People are more conscious of their health and now include natural sweeteners in their diets instead of sugar. Because of their antibacterial and antioxidant properties, they are a great choice for sweeteners. The product’s affordability and longer shelf life are also positive factors in market growth.
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