The honey market - United Kingdom

Honey is a sweet liquid produced by bees from nectar extracted from flowers; its main ingredients are carbohydrates, water, nitrogenous substances and minerals. Honey has many uses, such as spreads, ingredients, flavor enhancers, sugar substitutes, etc. The honey market includes the commercialization of honey, but also of all the products of the hive such as pollen, royal jelly or propolis. The world honey market is expanding. In particular, the monofloral type of honey will drive demand in the future. according to UN Comtrade, the United States is the largest importer of honey in the world, followed by Germany, Japan and the United Kingdom. Global players include Dabur (India), Capilano Honey (Australia), Comvita (New Zealand), Barkman Honey (U.S.), Bee Maid Honey (Canada), Lamex Food Group (U.S.), Billy Bee Honey Products (Canada) and Beeyond The Hive (U.S.). In the United Kingdom, honey is the first most popular sweet spread, by retail value. The average annual growth rate of honey as a sweet spread is estimated at 4.1% through 2024. There are several reasons for this, including the health benefits of honey and its role in providing sweetness. In addition, premiumization is helping to drive sales. The market structure in the UK is fragmented, with multiple small players distributing the product. For example, the Honey Association has at least 11 members. In addition, external competition is fierce, with much of the honey consumption coming from imports. Indeed, the UK imports nearly four times what the country produces and exports.