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Indian Honey Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

February 2023 | 108 pages | ID: I0987474AEEEN
IMARC Group

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The honey market in India size reached INR 23.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach INR 38.8 Billion by 2028, exhibiting a growth rate (CAGR) of 8.4% during 2023-2028.

Honey is a sweet, viscous, and golden-colored liquid produced in the honey sacs of bees from the nectar of flowers. It is a good source of antioxidants, vitamins, and minerals, such as niacin, thiamine, pantothenic acid, and riboflavin. It helps maintain good cholesterol levels, enhances memory and concentration, and strengthens the immune system. Besides this, as it has antibacterial, anti-microbial, and anti-inflammatory properties, honey is used as a natural sweetener in fermented beverages, wine, and other beverages across India.

India Honey Market Trends:

The rising prevalence of chronic medical ailments, such as diabetes, heart disease, and cancer, represents one of the key factors positively influencing the market in India. In addition, the escalating demand for immunity-boosting and health-improving products is offering lucrative growth opportunities to manufacturers. The rising utilization of honey in home remedies is also increasing the sales of honey in the country. Apart from this, scientific validation of the medicinal properties of honey and its rising usage in formulating medicines for the treatment of cough and acute throat infection on account of its antiviral, antifungal, and antibacterial properties is augmenting the market growth. Additionally, leading players are focusing on launching different product variants, which is propelling the market growth. Along with this, the Government of India (GoI) is introducing various training programs and mentoring services to educate farmers on the latest beekeeping practices. Furthermore, the expansion of organized distribution channels, such as supermarkets, hypermarkets, convenience stores, and general stores, along with the thriving e-commerce industry, is stimulating the market growth. Moreover, increasing investments by key players in research and development (R&D) activities to improve extraction processes are anticipated to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Indian honey market report, along with forecasts at the country and state level from 2023-2028. Our report has categorized the market based on flavor, seasonality, and distribution channel.

Breakup by Flavor:

Multiflora Honey
Eucalyptus Honey
Ajwain Honey
Sidr Honey
Others

Multiflora honey represents the most popular flavor in India as it has antibacterial and anti-inflammatory properties that treat skin problems, reduce swelling, and heal wounds and burns.

Breakup by Seasonality:

Autumn and Spring Season
Winter Season
Summer and Monsoon Season

Autumn and spring seasons dominate the market as it encourages the honeybees to ramp up egg-laying.

Breakup by Distribution Channel:

Business to Consumer
Business to Business

The business-to-consumer (B2C) currently represents the largest distribution channel as it offers easy accessibility to different products at affordable rates.

Breakup by State:

Maharashtra
Tamil Nadu
Karnataka
Punjab
Rajasthan

Maharashtra enjoys a clear dominance in the market as most of the manufacturing facilities are established in the state.

Competitive Landscape:
The honey market in India is highly fragmented in nature owing to the presence of a large number of manufacturers. The report provides the leading companies operating in the Indian honey market.

Dabur
Patanjali
Apis India
Emami Limited
Hitkary Pharmacy Private Limited
Reliance Retail Limited
Shree Baidyanath Ayurved Bhawan Pvt. Ltd.
Kejriwal Bee Care India Pvt. Ltd.
Bharat Honey
Under The Mango Tree

This report provides a deep insight into the Indian honey market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the honey industry in any manner.

Key Questions Answered in This Report

1. What was the size of the Indian honey market in 2022?
2. What is the expected growth rate of the Indian honey market during 2023-2028?
3. What are the key factors driving the Indian honey market?
4. What has been the impact of COVID-19 on the Indian honey market?
5. What is the breakup of the Indian honey market based on the flavor?
6. What is the breakup of the Indian honey market based on the seasonality?
7. What is the breakup of the Indian honey market based on the distribution channel?
8. What are the key regions in the Indian honey market?
9. Who are the key players/companies in the Indian honey market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology
2.6 Study Assumptions

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 INDIAN HONEY MARKET

5.1 Market Overview
5.2 Market Performance
  5.2.1 Organized Honey Market
  5.2.2 Unorganized Honey Market
5.3 Impact of COVID-19
5.4 Market Breakup by Distribution Channel
5.5 Market Breakup by Flavor
5.6 Seasonality in Indian Honey Market
5.7 Market Breakup by State
5.8 Market Forecast
  5.8.1 Organised Honey Market
  5.8.2 Unorganised Honey Market
5.9 SWOT Analysis
  5.9.1 Strengths
  5.9.2 Weaknesses
  5.9.3 Opportunities
  5.9.4 Threats
5.10 Value Chain Analysis
5.11 Porter’s Five Forces Analysis
  5.11.1 Overview
  5.11.2 Bargaining Power of Buyers
  5.11.3 Bargaining Power of Suppliers
  5.11.4 Degree of Rivalry
  5.11.5 Threat of New Entrants
  5.11.6 Threat of Substitutes

6 MARKET BREAKUP BY DISTRIBUTION CHANNEL

6.1 Business to Consumer
  6.1.1 Market Performance
  6.1.2 Market Breakup by Sales Channel
    6.1.2.1 General Trade
    6.1.2.2 Modern Trade Facilities
    6.1.2.3 E-Commerce
  6.1.3 Performance of Key SKU
  6.1.4 Market Forecast
6.2 Business to Business
  6.2.1 Market Performance
  6.2.2 Market Breakup by End-Use
    6.2.2.1 Food and Beverage
    6.2.2.2 Pharmaceuticals
    6.2.2.3 Cosmetics
  6.2.3 Performance of Key SKU
  6.2.4 Market Forecast

7 MARKET BREAKUP BY FLAVOR

7.1 Multiflora Honey
  7.1.1 Market Performance
  7.1.2 Market Forecast
7.2 Eucalyptus Honey
  7.2.1 Market Performance
  7.2.2 Market Forecast
7.3 Ajwain Honey
  7.3.1 Market Performance
  7.3.2 Market Forecast
7.4 Sidr Honey
  7.4.1 Market Performance
  7.4.2 Market Forecast
7.5 Others
  7.5.1 Market Performance
  7.5.2 Market Forecast

8 SEASONALITY IN INDIAN HONEY MARKET

8.1 Autumn and Spring Season
8.2 Winter Season
8.3 Summer and Monsoon Season

9 MARKET BREAKUP BY STATE

9.1 Maharashtra
  9.1.1 Market Performance
  9.1.2 Market Forecast
9.2 Tamil Nadu
  9.2.1 Market Performance
  9.2.2 Market Forecast
9.3 Karnataka
  9.3.1 Market Performance
  9.3.2 Market Forecast
9.4 Punjab
  9.4.1 Market Performance
  9.4.2 Market Forecast
9.5 Rajasthan
  9.5.1 Market Performance
  9.5.2 Market Forecast

10 COMPETITIVE LANDSCAPE

10.1 Competitive Structure
10.2 Key Players

11 CASE STUDY: PATANJALI HONEY

12 PROFILE OF KEY PLAYERS

12.1 Dabur
12.2 Patanjali
12.3 Apis India
12.4 Emami Limited
12.5 Hitkary Pharmacy Private Limited
12.6 Reliance Retail Limited
12.7 Shree Baidyanath Ayurved Bhawan Pvt. Ltd.
12.8 Kejriwal Bee Care India Pvt. Ltd.
12.9 Bharat Honey
12.10 Under The Mango Tree

LIST OF TABLES

Table 1: India: Honey Market: Key Industry Highlights, 2022 and 2028
Table 2: India: Honey Market Forecast: Breakup by Distribution Channel (in Million INR), 2023-2028
Table 3: India: Honey Market (Business to Consumer): SKU Offered by Dabur
Table 4: India: Honey Market (Business to Consumer): SKU Offered by Patanjali
Table 5: India: Honey Market (Business to Consumer): SKU Offered by Apis India
Table 6: India: Honey Market (Business to Consumer): Sales Value of Key SKU (in INR Million), 2022
Table 7: India: Honey Market Forecast: Breakup by Flavor (in Million INR), 2023-2028
Table 8: India: Honey Market Forecast: Breakup by State (in Million INR), 2023-2028
Table 9: India: Honey Market: Competitive Structure
Table 10: India: Honey Market: Key Players

LIST OF FIGURES

Figure 1: India: Honey Market: Major Drivers and Challenges
Figure 2: India: Honey Market: Sales Value (in Billion INR), 2017-2022
Figure 3: India: Organized Honey Market: Sales Value (in Million INR), 2017-2022
Figure 4: India: Unorganized Honey Market: Sales Value (in Million INR), 2017-2022
Figure 5: India: Honey Market: Breakup by Distribution Channel (in %), 2022
Figure 6: India: Honey Market: Breakup by Flavor (in %), 2022
Figure 7: India: Honey Market: Breakup by Seasonality (in %), 2022
Figure 8: India: Honey Market: Breakup by States (in %), 2022
Figure 9: India: Honey Market Forecast: Sales Value (in Billion INR), 2023-2028
Figure 10: India: Organized Honey Market Forecast: Sales Value (in Million INR), 2023-2028
Figure 11: India: Unorganized Honey Market Forecast: Sales Value (in Million INR), 2023-2028
Figure 12: India: Honey Industry: SWOT Analysis
Figure 13: India: Honey Industry: Value Chain Analysis
Figure 14: India: Honey Industry: Porter’s Five Forces Analysis
Figure 15: India: Honey Market (Business to Consumer): Sales Value (in Million INR), 2017-2022
Figure 16: India: Honey Market (Business to Consumer): Breakup by Sales Channel (in %), 2022
Figure 17: India: Honey Market (Business to Consumer): Sales through General Trade (in Million INR), 2017-2022
Figure 18: India: Honey Market (Business to Consumer) Forecast: Sales through General Trade (in Million INR), 2023-2028
Figure 19: India: Honey Market (Business to Consumer): Sales through Modern Trade Facilities (in Million INR), 2017-2022
Figure 20: India: Honey Market (Business to Consumer) Forecast: Sales through Modern Trade Facilities (in Million INR), 2023-2028
Figure 21: India: Honey Market (Business to Consumer): Sales through E-Commerce (in Million INR), 2017-2022
Figure 22: India: Honey Market (Business to Consumer) Forecast: Sales through E-Commerce (in Million INR), 2023-2028
Figure 23: India: Honey Market (Business to Consumer) Forecast: Sales Value (in Million INR), 2023-2028
Figure 24: India: Honey Market (Business to Business): Sales Value (in Million INR), 2017-2022
Figure 25: India: Honey Market (Business to Business): Breakup by End-Use (in %), 2022
Figure 26: India: Honey Market (Business to Business- Food and Beverage): Sales Value (in Million INR), 2017-2022
Figure 27: India: Honey Market (Business to Business- Food and Beverage) Forecast: Sales Value (in Million INR), 2023-2028
Figure 28: India: Honey Market (Business to Business- Pharmaceuticals): Sales Value (in Million INR), 2017-2022
Figure 29: India: Honey Market (Business to Business- Pharmaceuticals) Forecast: Sales Value (in Million INR), 2023-2028
Figure 30: India: Honey Market (Business to Business- Cosmetics): Sales Value (in Million INR), 2017-2022
Figure 31: India: Honey Market (Business to Business- Cosmetics) Forecast: Sales Value (in Million INR), 2023-2028
Figure 32: India: Honey Market (Business to Business): Breakup by Key SKU (in %), 2022
Figure 33: India: Honey Market (Business to Business) Forecast: Sales Value (in Million INR), 2023-2028
Figure 34: India: Honey Market (Multiflora): Sales Value (in Million INR), 2017-2022
Figure 35: India: Honey Market (Multiflora) Forecast: Sales Value (in Million INR), 2023-2028
Figure 36: India: Honey Market (Eucalyptus): Sales Value (in Million INR), 2017-2022
Figure 37: India: Honey Market (Eucalyptus) Forecast: Sales Value (in Million INR), 2023-2028
Figure 38: India: Honey Market (Ajwain): Sales Value (in Million INR), 2017-2022
Figure 39: India: Honey Market (Ajwain) Forecast: Sales Value (in Million INR), 2023-2028
Figure 40: India: Honey Market (Sidr): Sales Value (in Million INR), 2017-2022
Figure 41: India: Honey Market (Sidr) Forecast: Sales Value (in Million INR), 2023-2028
Figure 42: India: Honey Market (Other Flavours): Sales Value (in Million INR), 2017-2022
Figure 43: India: Honey Market (Other Flavours) Forecast: Sales Value (in Million INR), 2023-2028
Figure 44: Maharashtra: Honey Market: Sales Value (in Million INR), 2017-2022
Figure 45: Maharashtra: Honey Market Forecast: Sales Value (in Million INR), 2023-2028
Figure 46: Tamil Nadu: Honey Market: Sales Value (in Million INR), 2017-2022
Figure 47: Tamil Nadu: Honey Market Forecast: Sales Value (in Million INR), 2023-2028
Figure 48: Karnataka: Honey Market: Sales Value (in Million INR), 2017-2022
Figure 49: Karnataka: Honey Market Forecast: Sales Value (in Million INR), 2023-2028
Figure 50: Punjab: Honey Market: Sales Value (in Million INR), 2017-2022
Figure 51: Punjab: Honey Market Forecast: Sales Value (in Million INR), 2023-2028
Figure 52: Rajasthan: Honey Market: Sales Value (in Million INR), 2017-2022
Figure 53: Rajasthan: Honey Market Forecast: Sales Value (in Million INR), 2023-2028
Figure 54: India: Honey Market: Breakup by Key Players (in %), 2022


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