The honey market - United States

Honey is a sweet liquid produced by bees from nectar extracted from flowers; its main ingredients are carbohydrates, water, nitrogenous substances, and minerals. Honey is used in many contexts including as a spread, as an ingredient, as a flavor enhancer, as a sugar substitute, etc. The honey market includes the marketing of honey, but also all the products of the hive like pollen, royal jelly or propolis. The global honey market is expanding; in particular, the mono-floral honey type will drive demand going forward. According to UN Comtrade the United States is the world’s largest importer of honey, followed by Germany, Japan, and the UK. 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 US, honey is the third most popular sweet spread according to retail value after nut and seed-based spreads, and jams and preserves. Going forward, honey as a sweet spread is expected to grow at a CAGR of 1.6% until 2024. Several reasons contribute to this, amongst them the perceived health benefits of honey and the role it serves in adding sweetness. Moreover, premiumization contributes to a boost of sales. The states with the highest production in the US included (in descending order) North Dakota, Montana, California, and South Dakota in 2018.