Market Introduction
Italy honey market held a market value of USD 98.86 million in 2021 and is likely to reach USD 169.09 million by the year 2030. The market is anticipated to register a CAGR of 6.3% during the forecast period. The market registered a volume of 20.64 thousand tons in 2021, with a growth rate of 4.2% over the forecast period.
In response to the growing demand for convenience and a healthy diet, a range of commodities in unique shapes, flavours, colours, and packaging have evolved. Due to the high demand for organic honey, suppliers have been motivated to launch products that would increase consumer awareness of their brands. Businesses can introduce novel organic honey goods owing to innovation and the use of fresh business strategies. The introduction of products in varied packaging and flavours will have a significant impact on the growth of the organic honey industry in the near future.
The rising prevalence of chronic diseases like diabetes, heart disease, and cancer is one of the main factors favouring the industry. A successful expansion strategy for businesses is also being made available by the increased demand for products that boost immunity and overall health. Due to the growing usage of honey in natural medicines, the nation's honey sales are increasing.
The players are focusing on joint ventures to sustain their positions in the market. For instance, one of the biggest European producers of organic foods, Narayan Foods, is getting ready to introduce the first plant-based honey in a few European nations early in 2023. The first honey substitute to reach the EU market without using concentrated syrup or processed syrup is Narayan's honey, which nevertheless creates honey's taste and texture. The award-winning Californian food technology company MeliBio, in collaboration with Narayan Foods, has created the bee-free honey. Thus, such moves drive the market growth.
Growth Influencers:
Growing consumer preference for natural and healthy alternatives.
Due to the increased popularity of honey sweeteners and the expanding population, the top market players have a sizable probability of expanding. Several large companies are introducing vegan honey. Due to consumers' growing interest in health and wellness and their quest for better-for-you products, the food, beverage, and supplement industries have seen significant innovation. These companies offer novel natural products. Because they are antibacterial and antioxidant, natural sweeteners are a fantastic choice for consumers. In addition, the product's high affordability and prolonged shelf life are two important elements that favourably affect market growth.
Anti-bacterial, anti-microbial and anti-inflammatory properties of honey.
The most important nutrients in honey are the fructose and glucose monosaccharides that are found there. Honey has a substantial impact on wound healing as an antioxidant, anti-inflammatory, and anti-bacterial agent and encourages the adherence of skin grafts. The value of honey has been recognised in the scientific literature, and there is compelling evidence to support its antibacterial and antioxidant properties, ability to stop coughs, ability to encourage fertility, and ability to heal wounds.
Segments Overview:
The Italy honey market is segmented into product, type pack size, packaging, application, and distribution channel.
By Product
o Natural/Organic
o Processed
The processed segment held the highest market share of more than 55% in 2021.
By Type
o Acacia
o Sidr
o Orange Blossom
o Ajwain
o Clover
o Others
The acacia segment held the highest market share with largest CAGR of 4.6% over the forecast period.
By Pack Size
o 200-250 gm
o 500 gm
o 1000 gm and above
The 200-250 gm segment is expected to reach USD 101.46 million during 2030.
By Packaging
o Glass Jar
o Bottle
o Tub
o Tube
The glass jar segment is estimated to hold the highest CAGR close to 4% during forecast period.
By Application
o Food and Beverage
o Personal Care & Cosmetics
o Pharmaceuticals
o Others
The food and beverage segment dominates the market with more than 62% of market share.
By Distribution Channel
o Online
o Offline
? Hypermarkets & Supermarkets
? Convenience Stores
The offline segment is expected to grow with highest share of more than 60%.
Competitive Landscape
The key players in the market include Api Brescia Societa' Cooperativa, Apicoltura Bonetti, Apicoltura Mieldoro, Azienda Agraria Bevilacqua, Azienda Agricola Bio Bonizio, Barkman Honey LLC, Capilano Honey Ltd., Dabur India Ltd, Fiorillo SRL, Martin Miele, Nanako Goods, Nicolas srl, Podere Castello Di Uzzano, Conapi, and others. The top four players hold around 58% of the market share. Top players are investing in strategic activities to gain a competitive edge. Italian business Gruppo Eurovo launched?its first batch of honey under the le Naturelle brand in November 2022. This accomplishment is the outcome of a re-population initiative for apiaries that was started last spring and was carried out on the company's own farms. Around 15 million bees have found a safe place to procreate as a result of the installation of up to 420 hives. The first harvest of la Naturelle honey in the acacia and millefiori kinds came in September 2021.
The Italy honey market report provides insights on the below pointers:
? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the Italy honey market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
? Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
? Pricing Analysis: Pricing analysis of various components used in the manufacturing of honey
? Manufacturing cost analysis: cost-share of various components in honey, cost analysis of honey
? Traditional and Modern Uses of Natural Honey in Human Diseases
? Biological activities of Honey
? Overview of Apiculture in USA
? Policy and Regulatory Landscape
? Major honey projects and initiatives
? Voice of Customers
o By Packaging
o By Purchasing Source
o By Flavor
o By Consumption Frequency
o By Key Purchasing Criteria
? Strategic Recommendations (Analyst?s comment)
? Market Attractiveness
o By Product Type
o By Type
o By Pack Size
o By Packaging
o By Application
o By Distribution Channel
The Italy honey market report answers questions such as:
? What is the market size and forecast of the Italy honey market?
? What are the inhibiting factors and impact of COVID-19 on the Italy honey market during the assessment period?
? Which are the products/segments/applications/areas to invest in over the assessment period in the Italy honey market?
? What is the competitive strategic window for opportunities in the Italy honey market?
? What are the technology trends and regulatory frameworks in the Italy honey market?
? What is the market share of the leading players in the Italy honey market?
? What modes and strategic moves are considered favorable for entering the Italy honey market?
