CATCH THE BUZZ
Global Honey Market to Expand, BIG TIME
By Alan Harman
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The global honey market is forecast to exceed 1.9 million tons by 2015.
A new report by California-based Global Industry Analyst Inc. (GIA) says the market is being primarily driven by increasing awareness levels and health consciousness among the consumers, leading to increasing demand for healthy and natural food products.
In line with the trend, several honey producers are launching new products and varieties at regular intervals. The increasing trend of organic and healthy spreads is expected to continue giving rise to new variants and flavors in the global honey market.
“Increasing preference among consumers for honey-based products, is leading to a boost in the variety and assortment of honey based food products, baby products, yogurts and drinks,” the report, which GIA is selling for $3,950, says. “Moreover, honey contains antioxidants, minerals, vitamins and proteins, making itself an appealing ingredient as compared to artificial sweeteners.”
Europe and the Asia Pacific, including Japan, dominates the global honey market, the report says but warns the global honey sector is not devoid of any challenges.
Honeybee losses represent one of the major challenges encountered by honey sector worldwide. Honeybees are also susceptible to threats such as environmental stress, pests and diseases, among others. Colony Collapse Disorder (CCD) leading to death and disappearance of honeybees, is another key challenge faced by the global honey sector.
Lately, the U.S. honey sector is facing a steep decline in production volumes triggered by declining number of bee colonies, and increased costs, leading to rising honey prices.
Apart from disease and pests, including colony collapse disorder, the report says calamities such as drought and wildfire also affected the bee production and costs in the recent past. Various macroeconomic factors such as U.S. dollar depreciation and weak economic conditions also led to the price rise in the honey market.
The report says key players dominating the Global Honey Market include Bee Maid, Billy Bee Honey, Capilano Honey, Comvita Ltd., Dabur India Ltd,, Dutch Gold Honey Inc., Golden Acres Honey, Hebei Wuqiao Mtl. Co. Ltd., Odem International Inc., Rowse Honey Ltd, Shriro Pvt. Ltd., Sioux Honey Association and Yanbian Baolixiang Beekeeping Co. Ltd.
The report titled Honey: A Global Strategic Business Report, provides a comprehensive review of industry overview, product overview, product introductions/innovations, profiles of major players, and recent industry activity.
The study analyzes market data and analytics in terms of volume sales for regions including the U.S., Canada, Europe, Asia-Pacific and Latin America.
For more details about this comprehensive market research report, visit -
http://www.strategyr.com/Honey_Market_Report.asp
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