Honey Spread Global Market Report 2024

The honey spread market has grown strongly in recent years. It will grow from $9.75 billion in 2023 to $10.33 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The expansion observed during the historical period can be attributed to the trends in gourmet and specialty foods, increasing concerns regarding sugar content, diverse flavor profiles, marketing positioning as a natural sweetener, and the effectiveness of educational marketing.

The honey spread market is expected to see strong growth in the next few years. It will grow to $13.08 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The anticipated growth in the forecast period can be ascribed to the ascent of functional ingredients, the proliferation of specialty and artisanal offerings, the global integration of culinary styles, the adoption of sustainable sourcing practices, and innovations in flavor combinations. Key trends expected in the forecast period encompass innovations in packaging, a focus on clean labels and transparency, an emphasis on sustainable and ethical sourcing, and the pursuit of sugar reduction through alternative sweeteners.

The anticipated increase in honey consumption is set to drive the growth of the honey spread market in the future. Honey, a sweet and viscous liquid produced by bees from floral nectar, is gaining popularity as a natural sweetener with antioxidant properties and various health benefits when used as spreads on bread, pastries, and other foods. This rising trend in honey consumption is fueling the expansion of the honey spread market. For example, in 2021, Statistics Canada reported that honey producers harvested 89.8 million pounds of honey in Canada, marking an 8.0% increase from 2020. Similarly, the United States Department of Agriculture noted an 8% rise in honey consumption in the US, reaching 618 million pounds in 2021. Hence, the growing preference for honey is a significant factor driving the honey spread market's growth.

The expansion of the cosmetics industry is expected to contribute to the growth of the honey spread market. The cosmetics industry, focusing on the production and sale of beauty and personal care products, utilizes honey spread for its natural moisturizing and antibacterial properties, enhancing the effectiveness and nourishing qualities of skincare products. For instance, according to the International Trade Administration, the cosmetic market in Canada generated approximately USD 1.24 billion in revenue in 2021, with an anticipated annual growth rate of 1.45%, expected to reach USD 1.8 billion by 2024. Therefore, the growth in the cosmetics industry is a driving force for the honey spread market.

A noteworthy trend gaining momentum in the honey spread market is product innovation. Major companies in this market are concentrating on developing new solutions to maintain their market positions. In August 2022, Nature Nate’s Honey Co., a US-based natural honey producer, introduced Whipped Honey in Original, Cinnamon, and Maple flavors. These variants offer versatility, with Original Whipped Honey suitable for charcuterie and cheese boards or as a toast topping, Cinnamon Whipped Honey complementing fruit and sweetening coffee, and Maple Whipped Honey serving as a natural substitute for maple syrup on pancakes and waffles.

Major players in the honey spread market are also focusing on introducing flavorful offerings, such as honey-infused sweets, to cater to evolving consumer preferences. Honey-infused sweets incorporate honey as a key ingredient, providing a distinct flavor and sweetness to confections or treats. For instance, in July 2021, Dabur, an India-based manufacturer of ayurvedic medicine and natural consumer products, launched Honey Tasties, a honey-infused sweet available in chocolate and strawberry flavors. Enriched with Vitamin D and without added sugar, Honey Tasties are versatile for use in milk, on bread, or in various desserts.

In April 2021, Blue Road Capital, a US-based private equity firm, successfully acquired Sweet Harvest Foods for an undisclosed amount. This strategic acquisition aligns Blue Road Capital with Sweet Harvest’s management team, aiming for growth and additional opportunities in the expansive natural food and ingredient market. Sweet Harvest Foods, a US-based company, specializes in producing top-quality honey, agave, and molasses products.

Major companies operating in the honey spread market report are Unilever plc, Nestlé Alimentana SA, The J.M. Smucker Co., Conagra Brands Inc., B & G Foods Inc., Ferrero International SA, The Hershey Company, The Kraft Heinz Company, Sioux Honey Association Co-op, Comvita Limited, Hive & Wellness Australia Pty Ltd., Dabur Ltd., Honey-Butter Products Co. Inc., Alberta Honey Producers Cooperative Limited., Dutch Gold Honey Inc., J M Smucker Company, Nature Nate’s Honey Co., Bee Maid Honey Limited, Capilano Honey Ltd., McCormick & Company Incorporated, Golden Acres Honey Products Ltd., New Zealand Honey Co., Barkman Honey LLC, African Bronze Honey Company, Streamland Biological Technology Ltd., Oha Honey LP, Beeyond the Hive, Hershey Co., Ames Farm Ltd., Cox Honeyland.

North America was the largest region in the honey spread market in 2023. The regions covered in the honey spread market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the honey spread market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of honey spread include pure honey spread, mixed honey spread, honey fruit spread, honey nut or butter spread, among others. Pure honey spread is produced using solely pure honey, which undergoes a gentle filtering process and does not incorporate any other substances such as corn syrup. The processing methods, including conventional and organic approaches, are implemented across various distribution channels such as hypermarkets, supermarkets, online platforms, convenience stores, and others.

The honey spread market research report provides honey spread market statistics, including honey spread industry global market size, regional shares, competitors with a honey spread market share, detailed honey spread market segments, market trends and opportunities, and any further data you may need to thrive in the honey spread industry. This honey spread market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The honey spread market consists of sales of spreads made by using comb honey, liquid honey, and crystallized honey. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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