The Australia honey market comprises honey that is derived from nectar collected by honey bees from blossoms of various plants. Raw honey comes in various floral sources such as acacia, clover, leatherwood, and others. Honey is highly nutritional and provides various health benefits such as improving digestion, aiding weight loss, boosting immunity, and moisturizing dry skin. It is widely used in food & beverages industry for preparing bakery, confectionery, and savory snacks. The rising health consciousness is boosting the consumption of honey as a substitute for sugar.
The Australia Honey Market is estimated to be valued at USD 711 Mn in 2024 and is expected to reach USD 1,226.5 Mn by 2031, growing at a compound annual growth rate (CAGR) of 8.1% from 2024 to 2031..
Key Takeaways
Key players operating in the Australia honey market are Capilano Honey Ltd., Comvita, Lippman's Natural Honey, Australian Honey Bee Products, and Native American Foods.
The major factor driving the growth of the Australia Honey Market is increasing demand for natural and organic foods due to rising health concerns. Consumers are preferring honey over sugar owing to various nutritional benefits.
Technological advancements such as honey extraction plants with high processing capacity by key market players is supporting the market growth. Advanced extraction methods help in retaining all nutritional components of honey.
Market Trends
The Australia honey market is witnessing increasing application of monofloral honey sourced from a single floral source such as acacia, leatherwood, etc. Monofloral honey delivers unique taste characteristics of that floral source and gains high demand from premium consumers.
Manuka honey from Australia is witnessing rising popularity globally due to its antibacterial properties. Manuka honey with unique UMFTM rating system attracts health-conscious consumers worldwide.
Market Opportunities
The growing food & beverages industry relying on natural and healthy ingredients in various cuisines and bakery products creates lucrative growth opportunities.
Product innovation such as infused and fermented honey incorporating exotic extracts or probiotics can strengthen immunity and gut health, opening new opportunities.
Impact of COVID-19 on Australia Honey Market Growth
The COVID-19 pandemic has significantly impacted the Australia honey market growth. During the pre-COVID times, the market was flourishing owing to high demand from food & beverage, cosmetics and pharmaceutical industries. However, lockdowns imposed by the governments led to halting of production activities and disruptions in the supply chain. This adversely affected the market revenues during 2020. With restrictions on travel and exports, international trade came to a standstill adding more troubles for the producers.
However, as restrictions are being lifted now, the market is recuperating slowly. Domestic demand has picked up from 2021 as people are focusing more on immunity boosting and natural products. Export activities have also revived as many countries have opened their borders for shipments. Producers are optimistic about growth and targeting new distribution channels as well as markets. They are ensuring safety protocols and digitalization of operations to minimize risks of future disruptions. Increased awareness about health benefits of honey among consumers is likely to drive higher demands going forward. The market is anticipated to get back on growth trajectory from 2022 onwards.
Australia Honey Market - Geographical Regions Focus
New South Wales is the largest producer as well as consumer of honey in Australia accounting for over 30% of the market value. Major honey producing regions include Riverina, Northern Tablelands and Central West offering ideal climatic conditions for beekeeping. Availability of extensive eucalyptus forests is a big advantage for the apiarists. Presence of large agro-food companies and international brands has made New South Wales a key export hub for Australian honey. Stringent quality standards are maintained to promote brand image in international markets. Domestic consumption is also high within the state due to growing health consciousness.
The fast growing region for Australia honey market is Northern Territory witnessing annual growth rates above 8% over last few years. Setting up of commercial bee farms and promotion initiatives by territorial government are supporting the surge. Remote areas with minimal commercial beekeeping present huge untapped potential. Tropical climate and diverse native plant species offer year-long resources to honey bees. If consistent efforts are made for infrastructure and market development, Northern Territory can emerge as a major honey producer within next 5 years boosting overallAustralia market revenues.
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Author Bio:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163 )
