The new report by Expert Market Research titled, ‘Global Organic Wild Honey Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global organic wild honey market, assessing the market based on its segments like distribution channel and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026):
- Historical Market Size (2020): USD 650 Million (Global Organic Honey Market)
- Forecast CAGR (2021-2026): 7.2% (Global Organic Honey Market)
The rising demand for organic wild honey products among the general public would push up market demand. Honey consumption is beneficial to one’s wellbeing, which will boost demand growth. The market is also expected to be fuelled by the introduction of various organic honey products. In the forecast era, however, the growing popularity of organic honey and its products, as well as rising public health concerns, would generate new opportunities for the organic wild honey industry.
Industry Definition and Major Segments
Wild honey collected from the nectar of wildflowers in the forest is known as organic wild honey. Crystals with the finest texture differentiate it. Wild honey has a long list of health benefits, including the potential to cure coughs, relieve sore throats, and function as a good curing agent thanks to its antibacterial properties.
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Based on distribution channel, the market can be segmented into:
- Supermarkets and Hypermarkets
- Convenience Store
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
Due to concerns about chemical additives, consumer preferences have shifted toward the consumption of food products with natural ingredients as a result of an increasing focus on living a healthier lifestyle. This has a hugely positive effect on organic wild honey adoption as well. Some of the primary factors driving adoption are increased knowledge of different forms of organic honey, methods of processing, and health benefits. All manufacturers who say their product is organic must meet certain regulatory criteria, which are then followed by a certification process that enables them to mark their product as “organic”. Since organic product certification is required to assure customers of the product’s authenticity, small businesses face cost barriers. This is leading to industry consolidation, as well-established players are eyeing these small businesses for mergers or acquisitions to increase their market presence. For example, Amazon recently announced its intention to purchase Whole Foods Market, a supermarket chain specializing in natural and organic foods, in order to improve its organic honey sales. To mark their products as “organic,” the United States Department of Agriculture (USDA) has required that all manufacturers selling organic products be USDA-certified. This could have a positive impact on organic honey demand and sales in North America.
Key Market Player
The major players in the market are the African Bronze Honey Company, Wildpure Ltd., Albertsons Companies, Inc, Pastili Limited, Big Island Bees, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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