Market Overview

According to a report by Fortune Business Insights™ titled “Honey Market, 2024–2032,” the global honey market was valued at USD 8.94 billion in 2023 and is expected to grow to USD 15.59 billion by 2032, expanding at a CAGR of 6.52% during the forecast period (2024–2032).

In the United States, the honey market is also poised for substantial growth, with projections indicating it will reach USD 1.89 billion by 2032. This rise is largely attributed to an increasing number of beekeepers and a growing preference for natural sweeteners.

Asia Pacific led the global market in 2023, capturing the entire market share. The surge in demand for organic and healthier sugar alternatives continues to be a key driver of growth across regions.

List of Key Companies Profiled in the Report:

• Bee Maid Honey Limited (Canada)
• Comvita Limited (New Zealand)
• Capilano Honey Ltd. (Australia)
• Dabur India Ltd. (India)
• Billy Bee Honey Products (Canada)
• New Zealand Honey Co. (New Zealand)
• Barkman Honey LLC (U.S.)
• Yamada Bee Company (Japan)
• Dutch Gold Honey Inc. (U.S.)
• Golden Acres Honey (Canada)

Industry Trends:

Growing Demand for Organic Products: Consumers in developed markets such as Europe, the U.S., and Japan are increasingly opting for organic honey, reflecting a broader shift toward clean-label and natural products.

Innovation in Health and Wellness: New honey-based health products, including supplements and functional beverages—like Singapore’s “Honey Exir”—are expanding the market’s reach and appeal.

Technological Advancements: Automation in honey extraction and filtration processes is enhancing product quality and operational efficiency across the supply chain.

Post-Pandemic Health Consciousness: Increased awareness of honey’s antiviral and immune-boosting properties has led to a notable rise in consumption following the COVID-19 pandemic.