India Honey Market- Infiniumglobalresearch.com

India Honey Market: Prospects, Trends Analysis, Market Size and Forecasts up to 2030

Report Code: IN00611 Country : India Published: October, 2023

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The country research report on India honey market is a customer intelligence and competitive study of the Indian market. Moreover, the report provides deep insights into demand forecasts, market trends, and, micro and macro indicators in the Indian market. Also, factors that are driving and restraining the honey market are highlighted in the study. This is an in-depth business intelligence report based on qualitative and quantitative parameters of the market. Additionally, this report provides readers with market insights and detailed analysis of market segments to possible micro levels. Moreover, the report also provides details on the honey business models in the report. The report also provides the profiles of the top five players operating in the Indian market delivers insights into the recent developments by leading players that have contributed to the growth of the market, and also estimates the impact of recent developments in the market.

India Honey market was valued at USD 321.8 million in 2022 and is projected to reach USD 767.6 million by 2030. The market is expected to grow at a CAGR of 11.56 between 2023 and 2030 in terms of value. The growing trend of natural and organic products in the food & beverage and personal care industry in India is majorly driving the market. The awareness among the consumers regarding the side effects of synthetic chemicals on human health is growing among the Indian consumers. The use of synthetic chemicals in food and personal care products are associated with adverse effects on the health including allergies, irritation, headaches, nausea, fatigue, nervousness, lack of concentration, liver and kidney damage, hormone disruption, infertility, cardiac disease, and cancer. While natural products including honey are believed to have health benefits and thus, widely used in the food and personal care products.

Moreover, the growing popularity of the Ayurvedic medicine system is augmenting the demand for honey in India. Ayurveda is gaining popularity among Indian consumers for the past couple of decades. According to recent reports published at the Global Ayurveda Summit in Kochi, more than 80 percent of Indian households used Ayurvedic products in 2018. Honey is used in several ayurvedic medicine and personal care products including cough syrup, cough, and cold tablets, immunity boosters, kaadha, chavanprash, soaps, face creams, face masks, and scrubs.

However, the negative effect of overconsumption of honey on human health is anticipated to hamper the market. Similar to sugar, honey can also cause blood sugar levels to rise. Thus, people with diabetes are suggested to consume honey at lower amount. Nevertheless, the Government initiative to promote beekeeping and consumption of honey is expected to offer growth opportunities for the market during the forecast period. A new central sector scheme called National Beekeeping and Honey Mission (NBHM) was approved by the Government of India for overall promotion and development of scientific beekeeping and production of quality honey. Such initiatives by the government are anticipated to offer numerous benefits for the market players in the Indian honey industry.

Report Description:

The India Honey market is expected to grow at a CAGR of 11.00% between 2020 and 2030 in terms of value. Honey production in India has seen a 200 percent increase in the last 12 years with sustained efforts and dedicated programs like Honey Mission in the last few years. In India, beekeeping is being accomplished traditionally since time immemorial. It also supplements income from agriculture, generates employment, and also helps in improving the nutritional intake of the rural population. It provides employment to about 0.3 million rural people. Honeybees are vital in sustaining plant biodiversity and also improve yields of crops by cross-pollination. The number of beekeepers, beekeeping companies, and honey societies has also augmented, and as of January 2019, India had 9,091 registered people in the apiary business. India exports 50 percent of the commodity and, in the last 12 years, exports have increased by 207 percent with international demand for honey growing. The National Commission on Agriculture had pictured the requirement for deploying about 150 million Bee colonies for pollinating 12 major agricultural crops in the country. Presently, 200 million Bee colonies are required for enhancing their yield which will provide employment to 21.5 million persons and produce 10 million tons of honey, and an increase in crop production.

Honey is used as a preservative, coloring agent, and flavoring agent apart from being used as a sweetener in food and beverages. The rise in the trend of natural and organic products in the food & beverage and personal care industry in India is majorly driving the market. The demand for natural and organic products is on the rise in India owing to the growing awareness among the consumers regarding the side effects of synthetic chemicals on human health. The growing trend of natural products in the personal care segment is mainly attributed to the rise in concern among consumers regarding harmful chemicals in the products. Furthermore, increasing the adoption of honey in pharmaceuticals owing to its health benefits is further boosting the growth of the India honey market. Honey also has antiseptic and antibacterial properties. Modern medical science has managed to find uses for honey in chronic wound management and combating infection. Honey is used to treat a wide range of illnesses, ailments, and injuries. Furthermore, honey is historically used in several food and beverages due to its distinct sweet taste and its medicinal benefits. However, the negative effect of overconsumption of honey on human health is anticipated to hamper the market. Honey is an added sugar which contributes excess calories to an individual's diet but not much in the way of nutrients and minerals. Moreover, the government initiative to promote beekeeping and consumption of honey is expected to offer growth opportunities for the market during the forecast period.

Among the cities, Mumbai consumes the largest volume of honey than other cities as it is the largest city in India and is one of the most urbanized and populated cities in India. The rising urbanization leading to changing lifestyles and the affluence of the working population with an increase in disposable income has played an important role in increasing the consumption of honey in the city. Delhi is the second-largest market for honey as it is one of the fastest-growing cities in the country. Further, due to the presence of an educated and conscious population base, the consumption of honey in Delhi is soaring. Kolkata also holds a significant market share of the India honey market. Kolkata has the highest per capita purchasing power among all metros due to smaller populations and low poverty compared with other metros.

Segments Covered

The report on India honey market provides a detailed analysis of segments in the market based on flavor, end-use, distribution channel, and city.

Segmentation Based on Flavor

· Multiflora

· Jamun

· Tulsi

· Others

Segmentation Based on End-use

· Food and Beverage

· Pharmaceuticals

· Personal Care and Cosmetics

Segmentation Based on Distribution Channel