Press release
Honey Spread Market 2024-2033: Global Outlook, Business Statistics, Latest Trends And Major Players
"The new report published by The Business Research Company, titled Honey Spread Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.As per the report, 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 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%.
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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.
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.
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
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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
Contents of the report:
1. Executive Summary
2. Honey Spread Market Report Structure
3. Honey Spread Market Trends And Strategies
4. Honey Spread Market - Macro Economic Scenario
5. Honey Spread Market Size And Growth
…..
27. Honey Spread Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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