Market Introduction
USA honey market held a market value of USD 2,473.5 million in 2021 and is likely to reach USD 4,970.3 million by the year 2030. The market is anticipated to register a CAGR of 8.7% during the forecast period. The market registered a volume of 200.75 thousand tons in 2021, with a growth rate of 6.1% over the forecast period.
In addition to being used as a component in more and more health and cosmetic products, honey can be found in beverages, processed meals, jams, and jellies. The potential of these items to impart a pleasant taste in food and beverage products, along with their accessibility, is boosting market demand. Additionally, honey has a variety of health benefits, such as the capacity to increase metabolic activity, regulate blood pressure, reduce the risk of diabetes, and even heal burn scars. As a result, it is frequently utilised in a variety of applications besides food and drink, including cosmetics and medicines, which is also expected to boost market growth.
In order to engage more consumers, product producers are developing unique launches. For instance, Dabur, an international company, introduced honey-infused syrups in July 2021, a new line of syrups and spreads. The product is a healthier alternative to the popular strawberry syrups and sweet chocolates on the market because it contains no added sugar. Consumers are being encouraged to incorporate natural sweeteners into their diets and use less white sugar as a result of growing health consciousness. Natural sweeteners are a great option for customers due to their antibacterial and antioxidant characteristics. The product's longer shelf life and high affordability are two additional significant factors that favourably influence market growth.
Growth Influencers:
Rising demand for natural sweeteners
The leading market participants have a substantial chance for expansion due to the expanding population and the rising popularity of honey sweeteners. Vegan honey is being introduced by a number of significant businesses, including Blenditup, Just Like Honey, and Vegan Honey Company. The food, beverage, and supplement industries have experienced great innovation as a result of customers' increased interest in health and wellness and the search for better-for-you items. These businesses provide new natural products. The International Food Information Council (IFIC) Foundation's 2018 Food & Health Survey found that the majority of Americans consider the nutritional value of the foods and drinks they eat. When given the option to choose between an older version of a product that contained artificial ingredients and a newer version that did not, 69 percent of respondents chose the product without artificial ingredients, while 32 percent selected the older version.
Increasing utilization in drug manufacturing
Honey contains carbohydrates in the form of fructose and glucose monosaccharides, which are the most significant nutrients. As an antioxidant, anti-inflammatory, and anti-bacterial agent, honey has a significant impact on wound healing and promotes the adhesion of skin grafts. In the scientific literature, honey's importance has been acknowledged, and there is strong evidence to back up its antibacterial and antioxidant properties, ability to prevent coughs, ability to promote fertility, and ability to heal wounds.
Segments Overview:
The USA 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 80% in 2021.
By Type
o Acacia
o Sidr
o Orange Blossom
o Ajwain
o Clover
o Others
The clover segment held the highest market share with largest CAGR of 10.0% 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 2,932.4 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 9% 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 60% of market share.
By Distribution Channel
o Online
o Offline
? Hypermarkets & Supermarkets
? Convenience Stores
The online segment is expected to grow with highest share of more than 55%. A broader consumer base is being drawn in as a result of independent retail giants like Walmart and Costco expanding their market share. Sales through this channel are being driven by consumers' preference to physically inspect these products before purchasing.
Online platforms provide high degrees of convenience, improved product visibility, and features for at-home delivery, which is fostering the segment's growth. The bulk of consumers rely on online retailers to guide them through the vast selection of products available and, occasionally, to inform them of their choices for returns and exchanges if they are dissatisfied with the delivered goods. Due to the increased accountability these retailers provide in terms of overall customer care, many market players prefer to sell different kinds of honey, royal jelly, and wax through these establishments.
Competitive Landscape
The key players in the market include Bee Natural Honey, Layneyhoney, Beefolks, Honeytree, Geesbees, Mtnhoney, Desert Creek Honey, Cystal's honey, Bare Honey, Dutch Gold Honey, Inc., Natures Nate, Oha Honey, and others. The top four players hold around 65% of the market share.
The USA 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 USA 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 USA honey market report answers questions such as:
? What is the market size and forecast of the USA honey market?
? What are the inhibiting factors and impact of COVID-19 on the USA honey market during the assessment period?
? Which are the products/segments/applications/areas to invest in over the assessment period in the USA honey market?
? What is the competitive strategic window for opportunities in the USA honey market?
? What are the technology trends and regulatory frameworks in the USA honey market?
? What is the market share of the leading players in the USA honey market?
? What modes and strategic moves are considered favorable for entering the USA honey market?
