The global sales of paper dyes is poised to surpass US$ 1 billion, expanding at a little over 2% in terms of value CAGR across the 2021-2031 forecast period, concludes Fact.MR’s recently published report. Demand is expected to remain sustained amidst growing adoption of paper-based packaging solutions across various industries. Historically, the market performed moderately, expanding at under...
Honey is one of the most popular food ingredients around the world, which is used extensively in a number of food processing industries, and widespread applications in food nutrition as well. In addition, the rising consumer awareness about the adverse effects of sugar, has bolstered the demand for natural sweeteners, in the production of bakery items and confectionary products.
The global market for honey is expected to grow at a strong CAGR of ~ 5.1 per cent through the forecast period till 2029. The demand for honey is expected to continue well into the future with the growing use in health foods, being a major driver for the foreseeable future.
Manufacturers Focus Processes to Boost Quality and Quantity
The demand for honey is witnessing steady growth owing to its health benefits, and manufacturers have been pushing to improve their production processes, through research and development efforts to maintain beehives, and generate honey of better quality and high purity standards.
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With the business of honey production being very lucrative, recent years have witnessed a substantial number of new entrants into the market. However, while the honey industry is fragmented with many unorganized players, leading manufacturers have been investing in honey research and related products.
Manufacturers are pushing efforts to expand and increase bee colonies and hives for greater yields. In addition, manufacturers are also creating innovative plant and flower resources to increase varieties of unique flavor profiles, which has also played a rising role in global demand.
Health Food and Medicinal Applications Influence Production
Consumers around the world have been impacted by hectic and sedentary lifestyles, which has resulted in rising number of health concerns as well, as lack of exercise is pushing consumers to search for low sugar alternatives.
In addition, the health beliefs associated with natural and organic ingredients has spread out wide. Rising awareness about the health benefits of honey, and its different types and flavors are contributing to the demand.
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Honey has been found to have positive effects on minor ailments such as colds, sore throats, diarrhea, and more in addition to helping deal with sleep problems and stress. Recent research has also shown that honey can have a positive impact on gastrointestinal reflux disease (GERD).
Consolidation Activity Has Strong Impact
The widespread impact of the healthy dieting trends have hit sugar products hard. Consequently honey has become a preferred options for a number of food processing enterprises. Honey and honey product manufacturers have started to push for mergers and acquisitions of associated businesses to diversify their offerings and honey applications.
In addition, this approach also helps to increase the variety of honey products being manufactured and also aids in the development of stronger processing, transport, and distribution networks including wholesale and retail business.
This trend of mergers and acquisitions is further supported by new product launches, which not only include different package sizes, but also include different smells, textures, and colors, with added flavors such as lavender, orange, and eucalyptus among others.
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