Honey Spread Global Market Report 2023

Major players in the honey spread market are Unilever Plc, The Nestlé company, JM Smucker Co., ConAgra Foods, B & G Foods Inc., Ferrero SpA, The Hershey Company, The Kraft Heinz Company, Sioux Honey Association Co-op, Comvita Limited, Hive & Wellness Australia Pty Ltd.

New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Honey Spread Global Market Report 2023" - https://www.reportlinker.com/p06479777/?utm_source=GNW
, Dabur Ltd., Honey-Butter Products Co Inc., Alberta Honey Producers Cooperative Limited., and Dutch Gold Honey Inc.

The global honey spread market is expected to grow from $9.19 billion in 2022 to $9.75 billion in 2023 at a compound annual growth rate (CAGR) of 6.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The honey spread market is expected to reach $12.20 billion in 2027 at a CAGR of 5.8%.

The honey spread market consists of sales of spreads made by using comb honey, liquid honey, and crystallized honey.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

The honey spread refers to a kind of edible viscous honey product made from honey or creamed honey. It is used to be blended with other ingredients such as fruits, nuts, and others.

North America was the largest region in the honey spread market in 2022. The regions covered in honey spread report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main honey spread types are pure honey spread, mixed honey spread, honey fruit spread, honey nut or butter spread, and others.Pure honey spread is made by using pure honey, that is gently filtered and does not contain any other substances or ingredients such as corn syrup and others.

The various processing are conventional, and organic applied in hypermarkets and supermarkets, online, convenience stores, and others.

The rising consumption of honey is expected to propel the growth of the honey spread market going forward.Honey refers to a sweet, viscous liquid that bees produce from floral nectar and store in their nests for feeding.

Honey consumption increased in the form of spreads on bread, pastries, and others, as it serves as a natural sweetener and possesses great antioxidant properties and other health benefits.Therefore, the rising consumption of honey is driving the growth of the honey spread market.

For instance, in 2021, according to Statistics Canada, a Canada-based agency of the Government of Canada that produces statistics on its population, resources, economy, society, and culture, 2021 honey producers harvested 89.8 million pounds of honey in Canada, up 8.0 % from 2020. Further, in 2021, according to the United States Department of Agriculture, a US-based federal executive department, honey consumption in the US increased by 8 % from the previous year to reach 618 million pounds in 2021. Therefore, the rising consumption of honey is driving the growth of the honey spread market.

Product innovations are a key trend gaining popularity in the honey spread market.Major companies operating in the honey spread market are focused on developing new solutions to sustain their position in the market.

In August 2022, Nature Nate’s Honey Co., a US-based natural honey-producing company, launched Whipped Honey in Original, Cinnamon and Maple flavors. Original Whipped Honey adds to charcuterie and cheese boards or on top of toast. Its cinnamon whipped honey complements fruit and sweetens a cup of coffee. Its Maple Whipped Honey is an easy natural substitute for maple syrup on pancakes and waffles.

In April 2021, Blue Road Capital, a US-based private equity firm, acquired Sweet Harvest Foods for an undisclosed amount.Through this acquisition, Blue Road Capital partners with Sweet Harvest’s management team and aims to grow and have add-on opportunities in a large addressable market exemplifying its interest in natural food and ingredient companies.

Sweet Harvest Foods is a US-based company producer of op-quality honey, agave, and molasses products.

The countries covered in the honey spread market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The honey spread market research report is one of a series of new reports that provides honey spread market statistics, including honey spread industry global market size, regional shares, competitors with a honey spread market share, detailed honey spread market segments, market trends and opportunities, and any further data you may need to thrive in the honey spread industry. This honey spread market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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