Dubai, UAE, April 28, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “Egypt Honey Market Research Report: information by type, application, packaging, by regions– Forecast till 2028, By 2028-end, the Egypt Honey Market is set to exceed a valuation of USD 33.4 million, suggesting a steady growth of the market at a CAGR 8.4% over the next couple of years.
As a result of greater use of honey as medicine and honey's therapeutic role, honey has seen phenomenal growth. Honey is rich in antioxidants, vitamins, minerals, calcium, and other nutrients that are all good for your health. Other health benefits of honey include its capacity to increase metabolic activity, regulate blood pressure, reduce the risk of diabetes, and even cure burns. In addition to being used in food and drinks, honey is also used in cosmetics and pharmaceuticals.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 33.4 Million |
| CAGR | 8.4% (2021–2028) |
| Base Year | 2020 |
| Forecast Period | 2021-2028 |
| Historical Data | 2019 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, By Application, and By Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Health Benefits Associated with Honey |
| The consumption of honey in Egypt has also increased |
Competitive Dynamics:
- Ahla Honey
- Elnada Bee
- Mudga Agriculture & Food Products suppliers
- Imtenan
- Mahmoud Gomaa Abd El Galil Co
- Honey World
- Dabur Egypt Ltd.
- EL Rashidi EL Mizan Confectionery.
Market USP:
Market Drivers:
The market is anticipated to expand in the upcoming years as customers shift their preferences from sugar and artificial sweeteners to healthier and more nutritious alternatives. Additionally, honey fermentation for the creation of sweet alcoholic beverages is predicted to open up new development prospects for the honey industry throughout the anticipated timeframe. It seems that honey may be stored for long periods of time without needing a refrigerator to keep the workplace cold. Additionally, the substance's enormously favorable medicinal effects on human health will advance the honey industry in the next years.
In addition, the pharmaceutical industry's growing use of honey will spur market expansion over the next years. In addition, the commodity's rising acceptance among customers who value their health will expand the market in the years to come. Since honey contains a lot of antioxidants, customers will surely profit from this in the future.
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Around the world, honey is a common ingredient in many different diets and cuisines. It is also acknowledged on a global scale as one of the most significant nutritional sources. Water, carbohydrates, nitrogenous compounds, and minerals are the main ingredients of honey. Honey has a wide range of advantages that have made it easy for it to quickly enter various markets and uses. Additionally, because honey is a natural source of several nutrients, it is becoming more and more popular among the expanding population of health-conscious consumers. Because of its abilities to improve skin, it is also widely employed in the beauty sector. The market for honey is well established in Egypt since it was one of the pioneering nations in the beekeeping industry.
Market Restraints:
On the other side, the honey sugar profile tends to increase consumer skepticism in the worldwide honey industry. Even though honey is inherently sweet, scientists and medical experts can still examine it. Diabetes patients are quite angry about the limited effectiveness of honey ingestion during the treatment of open sores.
COVID-19 Analysis:
Due to the devastating effects of COVID-19 (Coronavirus) on the honey industry, market participants are vying for ways to survive. Vendors in the market are already using cutting-edge strategies to lessen the consequences of the epidemic. In addition, chances for Indian agricultural exporters, like as those of honey, may arise if certain countries apply tariffs on Chinese goods in response to the COVID-19 epidemic.
Market Segmentation:
On the basis of the type
In terms of market share among the segments, clover honey leads with 44.58 percent, followed by citrus honey. Additionally, because there are several huge clover farms in this area, a CAGR of 4.16 percent is predicted for clover honey's volume growth.
application based segmentation
In terms of volume, the food & beverage category is predicted to have the largest share of the market among them in 2021, accounting for 54.17 percent. Although the use of honey in personal care products is expanding quickly throughout the projected period in terms of volume and value.
On the basis of the packaging
The bottle category is anticipated to dominate the market in 2021 out of all of them. Additionally, it is anticipated to grow at the quickest rate among all segments between 2021 and 2028, with a CAGR of 8.4%.
Browse In-depth Market Research Report (64 Pages) on Egypt Honey Market: https://www.marketresearchfuture.com/reports/egypt-honey-market-6239
Regional Analysis:
Innovative packaging has played a vital influence in improving the market's ability to generate income. The pharmaceutical and personal care goods industries have shown tremendous development potential for honey, and as a result, honey consumption in this region is rising. Consumers are increasingly choosing natural sweeteners like honey in place of artificial sweeteners thanks to the growing health consciousness trend. As a result, there is a favorable market environment for the honey industry in Egypt due to the growing demand for natural sweeteners from various production facilities.
The usage of flexible and easy packaging by producers to entice customers to their range of products is one of the key factors driving the market's rise. Pouring spouts, tubes, and microwaveable pouches are just a few examples of flexible packaging designs that make it easier to use, dispose of, and transport the items. Additionally, increasing the cost-effectiveness of honey products in Egypt will significantly accelerate market expansion over the course of the projection period.
Manufacturers are putting more of an emphasis on extracting honey from different flowers to provide consumers honey with distinctive flavors. Honey with various flavors is effectively differentiating as a product in the market thanks to consumer preferences’, lychee, jamun, tulsi, sunflower, coffee, ginger, garlic, and wild honey are just a few of the novel and unique tastes that are expanding the market's potential customer base. In Egypt, there are a number of small-business beekeepers who have a stake in the market's expansion. In order to increase their market presence and obtain access to cutting-edge technology and discoveries, established market players are implementing tactics that entail integrating smaller businesses through the process of mergers and acquisitions.
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