North America 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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The North America Honey Market would witness market growth of 10.2% CAGR during the forecast period (2020-2026). Honey is widely used as a healthy substitute for artificial sweetener, building immunity system, for energy source, and as a weight loss substance, all these uses of honey contribute in the growth of the honey market.
Moreover, the growing demand for honey in the medical and cosmetic industry will bring new growth prospects to the honey market. Besides, extreme consumption of honey can also have various negative effects on the health of a person, which acts as a restraint for the market.
It is a great ingredient in cosmetics & skin-care, aromatherapy, waxes, products, waterproofing products, wood finishes, and dental molds. The shifting preference of customers towards a nutritive & healthy alternative for artificial & sugar sweetener will rapidly expand the honey market during the forecast period. Moreover, honey fermentation is used to make sweet alcoholic beverages is expected to open new growth avenues for the honey market. Along with this, the storing capability of honey for a longer period without any need for refrigeration will drive the growth of the market. In addition, the various favorable therapeutic values of honey on the health of a person will escalate the market growth in the future years.
The extensive utilization of honey in the manufacturing of medical products is further accelerating the growth of the market during the forecast years. Moreover, the growing popularity of honey among health-conscious consumers will help in procuring a significant growth rate for the honey market during the forecast years. Along with this, honey contains a huge amount of antioxidants which will impact its market growth in a positive way.
The US market dominated the North America Pharmaceutical Market by Country in 2019, thereby, achieving a market value of $176.9 million by 2026. The Canada market is experiencing a CAGR of 9.4% during (2020 - 2026). Additionally, The Mexico market would witness a CAGR of 9.6% 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 U.S., Mexico, Canada, and Rest of North America.
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
- Rest of North America
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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