According to the recent study by IMARC Group, titled “Indian Honey Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the Indian honey market report reached a value of INR 21.1 Billion in 2021. Honey refers to a sweet syrupy substance that is commonly processed by honeybees from the nectar of flowering plants by the process of regurgitation. The color and taste of honey may vary depending on the source of the nectar, primarily ranging from colorless to dark brown and mild to strong in flavor. Being a rich source of vitamins, minerals, iron, zinc, amino acids, and antioxidants, it finds extensive applications across various sectors, such as food and beverage, pharmaceutical, and cosmetics.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Trends:
The market in India is majorly driven by the increasing health awareness among consumers regarding the numerous health benefits offered by honey. Moreover, the product has gained widespread popularity across the country due to its antibacterial and antiseptic qualities as well as its enhanced effectiveness in treating acute throat infection and cough. Furthermore, the Government of India (GOI) is undertaking initiatives and funding research and development (R&D) projects to encourage the production of honey in India, which is creating a positive outlook for the market. On account of these factors, the market is projected to reach a value of INR 38.3 Billion by 2027, registering a CAGR of 10.31% during 2022-2027.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Dabur
- Patanjali
- Apis India
- Emami Limited
- Hitkary Pharmacy Private Limited
- Reliance Retail Limited
- Shree Baidyanath Ayurved Bhawan Pvt. Ltd.
- Kejriwal Bee Care India Pvt. Ltd.
- Bharat Honey
- Under The Mango Tree
Indian Honey Market Segmentation:
Our report has categorized the market based on state, flavor, seasonality and distribution channel.
Breakup by Flavor:
- Multiflora Honey
- Eucalyptus Honey
- Ajwain Honey
- Sidr Honey
- Others
Breakup by Seasonality:
- Autumn and Spring Season
- Winter Season
- Summer and Monsoon Season
Breakup by Distribution Channel:
- Business to Consumer
- Business to Business
Breakup by State:
- Maharashtra
- Tamil Nadu
- Karnataka
- Punjab
- Rajasthan
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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