Saudi Arabia Honey Market By Application (Food & Beverages, Personal Care & Cosmetics and Pharmaceutical), By Distribution Channel (Online, Supermarket/Hypermarket and Convenience Stores), Opportunities and Trends Analysis Report and Forecast 2020 - 2026
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Get in-depth analysis of the COVID-19 impact on the Saudi Arabia Honey Market
Market Report Description
The Saudi Arabia Honey Market would witness market growth of 13% CAGR during the forecast period (2020-2026). Honey is referred to as a thick, viscous natural product produced by bees and other insects. Honeybees collect the nectar of flowers and modified it by their digestive enzymes and regurgitation activity. They deposit it in honeycomb where it loses its moisture to some extent and becomes thick.
Over many years, honey production is one of the agricultural activities that has been practiced in Saudi Arabia. It has also seen noticeable development in the past few decades. The honey market contributes significantly to the economy of the country. Similar to other economic activities, the honey market in Saudi Arabia is also subjected to the principle of supply & demand and availability of the product with desired characteristics to satisfy the needs of the consumer. The honey market in Saudi Arabia is flourishing due to the strong social, cultural, and religious association of the people with honey.
Consumption of honey in Saudi Arabia has increased significantly. It is estimated that consumption is about 320 grams per person which is twice the global average honey consumption. The production of honey in Saudi Arabia is not sufficient to fulfill the demand. Therefore, the market is dependent on the import of honey. Pakistan, China, and India are the main suppliers of honey in Saudi Arabia. The Saudi Food and Drug Authority (SFDA) has made some amendments to the list and criteria for the export of honey and honey products to Saudi Arabia in December 2020.
The government of Saudi Arabia is highly motivated and interested in supporting the beekeeping industry. Various programs have been launched by the government under which beekeepers can get subsidy and loan grants without any hustle. According to the Saudi Ministry of Environment, Water, and Agriculture, approximately 25,000 tons of honey imported into the country in the year 2020, while domestic production was 2,646 tons. The Saudi Ministry of Environment, Water, and Agriculture is encouraging both professional and amateur beekeepers to develop bee pastures. This step might be helpful in maximizing the domestic production of honey and improve the economic return. The number of beekeepers who are practicing modern methods of honey production has been increased in recent years.
In addition, the ministry launched programs to develop the honey bee industry and production sector in 2018. Several organizations are actively working to promote honey production in Saudi Arabia. These programs support the industry by improving the local honey bee breeds, advancing the infrastructure, increasing the efficiency of capacity-building. Both government and non-profitable organizations are establishing bee pastures for local beekeepers and also encouraging funding for scientific research.
The COVID-19 Pandemic has brought havoc across countries in the world at a rapid pace. It has become a curse that disrupted the lives and livelihoods of many people. It also has an extensively negative impact on the global economy that directly impacted the well-being of the population.
The agricultural sector in Saudi Arabia, includes crops, livestock, fisheries, and beekeeping. Sudden disruption of supply chain and import-export due to COVID-19 hampered the food system. Saudi Arabia is highly dependent on imports for its food systems. The honey industry is also adversely affected by the COVID-19, not only production but it risks the livelihood of the beekeepers. There was reduced productivity and a restricted supply chain that imposed challenges for the trade in Saudi Arabia.
Honey is highly nutritious and has antimicrobial properties. Natural honey is composed of sugars, proteins, amino acids, vitamins, and minerals. It possesses distinct composition & chemical properties and can be stored for a longer period of time. Due to its nutritional benefits and medicinal properties, the demand for honey is very high among health-conscious people. The WHO recommends the use of honey for treating cough and sore throat. Moreover, honey is also proven to be helpful in healing wounds. Honey is commonly used in processed foods, beverages, jellies, and jams.
Scope of the Study
Market Segments Covered in the Report:
- Food & Beverages
- Personal Care & Cosmetics
By Distribution Channel
- Convenience Stores
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