Impact of COVID-19 on Acacia Honey Market : Implications on Business
Acacia honey is gaining worldwide popularity owing to acacia honey’s higher nutritional content, a unique taste, a fine aroma, smooth texture and with less acidic content, and a pleasant scent of acacia. Acacia honey is also considered as one of the excellent sources of sweetener as it is enriched with more than 40 percent of fructose. In the global honey market, the demand for acacia honey is very high owing to its peculiarity of staying liquid for the longer period of time in comparison to other varieties of honey. In the global acacia honey market, the demand for acacia honey majority accounts from North America and European market and Europe also accounts to world’s largest producer of acacia honey in the global market.
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High nutritional value expected to trigger the demand for acacia honey in coming years:
In the global acacia market, the demand for acacia honey is increasing for household purpose owing to its higher nutritional content, acacia honey is enriched with calcium, potassium, sodium, iron, copper, manganese, vitamins, and amino acids and also includes natural antibiotics. In the global honey market, the demand for acacia honey is increasing at a robust growth rate in the food and beverage industry and also in the pharmaceutical industry. In the food and beverage industry, the demand for acacia honey is increasing as a natural and significant nutritional ingredient owing to increasing consumption of healthy food products. On the other side, acacia honey is used as an antiseptic ingredient in pharmaceutical and healthcare products as acacia honey helps in the treatment of health problems related with cold, cough, throat infections, and also for problems related with digestion. Acacia honey act as an antiseptic agent or due to its good antiseptic properties, the demand for acacia honey is increasing in the global market. On comparing with the other varieties of honey, the price of acacia honey is very expensive and it is one of the major factors prohibits the demand for acacia in the global honey market.
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Global Acacia Honey: Market Segment
On the basis of nature, the global acacia honey market has been segmented as –
- Organic
- Conventional
On the basis of end use, the global acacia honey market has been segmented as –
- Food Industry
- Beverage Industry
- Food Service Industry
- Pharmaceutical
- Household
On the basis of distribution channel, the global acacia honey market has been segmented as –
- Hypermarket/Supermarket
- Convenience Stores
- Food & Drink Specialty Stores
- Specialty Stores
- Online Retail
- Others
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Opportunities for Market Participants in Acacia Market
In the global acacia honey market, the demand for acacia honey especially increasing as a household consumption due to acacia honey’s health benefits or numerous positive properties in comparison to other varieties of honey. Majority of demand for acacia honey accounts from U.S., Canada, Germany, U.K., Italy, France, and other Western European countries. The demand organic acacia in these countries is increasing at faster pace owing to factors such as increasing consumption of organic food and beverages owing to its several health benefits, increasing number of health-conscious population, and higher consumer expenditure over healthy food products, and rising demand for food products free from chemicals and additives. In addition, the demand for acacia honey is also increasing among Asia Pacific region owing to rapid urbanization, changing consumer preference towards healthy food products, and increasing per capita expenditure over food and beverages.
Global Acacia Honey Market: Key Players
Some of the key players operating in the business of acacia honey market are Fresh Organic Products Ltd., Savannah Bee Company, Borneo Acacia, Bee Seasonal, Brown Tree, Apicoltura Gabannini, Mileeven Fine Foods, Mileeven Fine Foods, Littleover Apiaries Ltd., CD S.A., Bulgarian Bee, Bionectar Kft, Ruban Foods, and others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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