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MARKET OVERVIEW

1.1 Definition and scope of the study

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.

DEMAND ANALYSIS

MARKET STRUCTURE

ANALYSIS OF THE OFFER

REGULATION

POSITIONING OF THE PLAYERS

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in 40 pages
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Analysts

Hugo S.

chargé d'études économiques, Xerfi

Hugo S.

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Mathieu Luinaud

Associate Consultant

Mathieu Luinaud

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Education Formation
Robin C.

PhD Industrial transformations

Robin C.

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Pierre D.

Analyst

Pierre D.

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Arnaud W.
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Ross Alumni Club France

Arnaud W.

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Amaury de Balincourt
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Analyste de marché chez Businesscoot

Amaury de Balincourt

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Pierrick C.

Consultant

Pierrick C.

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Maelle V.

Project Finance Analyst, Consulting

Maelle V.

Héloise Fruchard

Etudiante en Double-Diplôme Ingénieur-Manager Centrale

Héloise Fruchard

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Imane E.

EDHEC

Imane E.

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Vincent D.

Auditeur

Vincent D.

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Eva-Garance T.

Eva-Garance T.

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Michela G.

Market Research Analyst

Michela G.

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Azelie P.

Market Research Analyst @Businesscoot

Azelie P.

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Cantiane G.

Market Research Analyst @Businesscoot

Cantiane G.

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Jules D.

Consultant

Jules D.

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Alexia V.

Alexia V.

Emil Ohlsson

Emil Ohlsson

Anna O.

Anna O.

Gabriel S.

Gabriel S.