LAMEA Honey Market By Application (Food & Beverages, Personal Care & Cosmetics and Pharmaceutical), By Distribution Channel (Online, Supermarket/Hypermarket and Convenience Stores), By Country, Growth Potential, Industry Analysis Report and Forecast, 2020 - 2026
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Market Report Description
The Latin America, Middle East and Africa Honey Market would witness market growth of 12.5% CAGR during the forecast period (2020-2026). There is a shifting preference of people towards maintaining a healthy lifestyle.
Nutritional replacement of sugar & artificial sweeteners is very important as sugar can lead to many health issues. Moreover, honey fermentation in the manufacturing of sweet alcoholic drinks is estimated to provide growth opportunities for the honey market during the forecast years. The increasing cases of heart diseases &blood pressure cases are promoting people to shift to healthy food options, which is why people are choosing honey over artificial sweeteners. Honey is a natural substitute for sweeteners, which can use in baking and other foods to enhance its taste. The rising prevalence of disease along with the increasing awareness among people is encouraging people to substitute their sugar content with some nutritional & healthy sweet substitute.
Honey has a great taste which is why it is widely used as an ingredient in the food & beverage industry. It is majorly used in processed jellies, foods, beverages, and jams. There are different types of honey available in the market, which totally depends on the type of flower used in extracting honey. The artificial sweetener used in several food & beverages is very harmful and can cause various diseases. With the shifting preference of people towards healthy food habits, food & beverage manufacturers are also altering their products according to the shifting demand. Hence, the artificial sugar content is replaced by honey in order to make food & beverages healthier than before. Moreover, this utilization of honey in the food & beverage industry has contributed to the propelling growth of the honey industry over the forecast years.
The Brazil market dominated the LAMEA Personal Care & Cosmetics Market by Country in 2019, thereby, achieving a market value of $73.3 million by 2026. The Argentina market would witness a CAGR of 10.7% during (2020 - 2026). Additionally, The UAE market is exhibiting a CAGR of 9.8% during (2020 - 2026).
Based on Application, the market is segmented into Food & Beverages, Personal Care & Cosmetics and Pharmaceutical. Based on Distribution Channel, the market is segmented into Online, Supermarket/Hypermarket and Convenience Stores. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Dabur India Ltd., Beeyond the Hive LLC, Patanjali Ayurved Limited, Capilano Honey Ltd., Barkman Honey, LLC, Bee Maid Honey Ltd., Dutch Gold Honey, Inc., New Zealand Honey Co. (Comvita), HoneyLab Ltd., and Rowse Honey Ltd. (Valeo foods U.K. Limited)
Scope of the Study
Market Segments Covered in the Report:
- Food & Beverages
- Personal Care & Cosmetics
By Distribution Channel
- Convenience Stores
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Dabur India Ltd.
- Beeyond the Hive LLC
- Patanjali Ayurved Limited
- Capilano Honey Ltd.
- Barkman Honey, LLC
- Bee Maid Honey Ltd.
- Dutch Gold Honey, Inc.
- New Zealand Honey Co. (Comvita)
- HoneyLab Ltd.
- Rowse Honey Ltd. (Valeo foods U.K. Limited)
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