LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global honey food market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Manjunath Reddy, a lead analyst from Technavio, specializing in research on food sector, says, “Increasing awareness of the health benefits of honey and growing health consciousness among consumers are the major factors boosting the growth of the global honey food market in most geographies.”
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- Increasing demand for monofloral honey
- Use of honey as an anti-cancer agent
- Increasing demand for natural sweeteners
Increasing demand for monofloral honey
The increasing demand for monofloral honey is one of the factors that will influence the growth of the market during the forecast period. Monofloral honey is a type of honey, which is made from the nectar of a particular plant and has a distinctive natural smell. It is prepared by keeping the bee hives in places where a particular plant dominates. Monofloral honey dominated the total honey sales in the UK in 2015, with around 45% of the total honey sold by Waitrose, a supermarket chain, being monofloral honey. The demand for monofloral honey is increasing in countries such as the US, Japan, Australia, and other countries.
Use of honey as an anti-cancer agent
The use of honey as an anti-cancer agent is another trend that will help in the growth of the market during the forecast period. A study published in the journal 'Molecules,' inspects the role of honey in impacting the development and progression of cancer. The flavonoids and phenolic acids present in honey are identified as the primary anti-cancer compounds. Some varieties of honey such as Tualang honey has the capability to target cancer cells by inducing programmed cell death while leaving other cells unharmed. Thus, it is found to be more effective than conventional chemotherapy agents, which target both cancerous as well as healthy cells and often provide more survival advantage to the cancerous cells.
“Another study has found that Tualang honey is comparable with tamoxifen, a cancer drug, in terms of its anti-cancer effect on breast tumor cells. Thus, the demand for honey in cancer treatment will increase during the forecast period, and this will help the market to grow,” says Manjunath.
Increasing demand for natural sweeteners
Another trend that will influence the growth of the market during the forecast period is the increasing demand for natural sweeteners. With increasing health consciousness consumers around the globe are looking for natural products. The global market for natural sweeteners is expected to grow at a CAGR of more than 5% during the forecast period. This will have a positive impact on the market as honey is a source vitamin C, magnesium, and various anti-oxidants and contains about 21 calories per spoon.
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