Honey Spread Global Market Report 2024 - By Report, Size, Share, Growth And Analysis, Forecast To 2033

The honey spread market size 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 growth in the historic period can be attributed to gourmet and specialty food trends, rising concerns about sugar content, varied flavor profiles, marketing as a natural sweetener, educational marketing.

The honey spread market size 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 growth in the forecast period can be attributed to rise of functional ingredients, expansion of specialty and artisanal offerings, global culinary fusion, sustainable sourcing practice, innovations in flavor combinations. Major trends in the forecast period include innovation in packaging, clean label and transparency, sustainable and ethical sourcing, sugar reduction and alternative sweeteners.

Market Overview -
The honey spread refers to a kind of edible viscous honey product made from honey or creamed honey. It is used to be blended with other ingredients such as fruits, nuts, and others.

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Increasing Honey Consumption Drives Expansion In The Honey Spread Market
The rising consumption of honey is expected to propel the growth of the honey spread market going forward. Honey refers to a sweet, viscous liquid that bees produce from floral nectar and store in their nests for feeding. Honey consumption increased in the form of spreads on bread, pastries, and others, as it serves as a natural sweetener and possesses great antioxidant properties and other health benefits. Therefore, the rising consumption of honey is driving the growth of the honey spread market. For instance, in 2021, according to Statistics Canada, a Canada-based agency of the Government of Canada that produces statistics on its population, resources, economy, society, and culture, 2021 honey producers harvested 89.8 million pounds of honey in Canada, up 8.0 % from 2020. Further, in 2021, according to the United States Department of Agriculture, a US-based federal executive department, honey consumption in the US increased by 8 % from the previous year to reach 618 million pounds in 2021. Therefore, the rising consumption of honey is driving the growth of the honey spread market.

Competitive Landscape -
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

Innovative Sweetness To Lead Market Trends
Product innovations are a key trend gaining popularity in the honey spread market. Major companies operating in the honey spread market are focused on developing new solutions to sustain their position in the market. In August 2022, Nature Nate's Honey Co., a US-based natural honey-producing company, launched Whipped Honey in Original, Cinnamon and Maple flavors. Original Whipped Honey adds to charcuterie and cheese boards or on top of toast. Its cinnamon-whipped honey complements fruit and sweetens a cup of coffee. Its Maple Whipped Honey is an easy natural substitute for maple syrup on pancakes and waffles.

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Key Segments -
The honey spread market covered in this report is segmented -
1) By Type: Pure Honey Spread, Mixed Honey Spread, Honey Fruit Spread, Honey Nut Or Butter Spread, Other Types
2) By Processing: Conventional, Organic
3) By Application: Hypermarkets And Supermarkets, Online, Convenience Stores, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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