Market Overview

The global honey market size was valued at USD 8.94 billion in 2023 and is projected to grow from USD 9.40 billion in 2024 to USD 15.59 billion by 2032, exhibiting a CAGR of 6.52% during the forecast period 2024-2032. Moreover, the honey market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 1.89 billion by 2032, driven by the growing number of beekeepers in the country, coupled with rising demand for natural sweeteners. Asia Pacific dominated the honey market with a market share of 100% in 2023.

In the United States, the honey market is also poised for substantial growth, with projections indicating it will reach USD 1.89 billion by 2032 . This rise is largely attributed to an increasing number of beekeepers and a growing preference for natural sweeteners.

Asia Pacific led the global market in 2023, capturing the entire market share . The surge in demand for organic and healthier sugar alternatives continues to be a key driver of growth across regions.

List of Key Companies Profiled in the Report:

• Bee Maid Honey Limited (Canada)

• Comvita Limited (New Zealand)

• Capilano Honey Ltd. (Australia)

• Dabur India Ltd. (India)

• Billy Bee Honey Products (Canada)

• New Zealand Honey Co. (New Zealand)

• Barkman Honey LLC (U.S.)

• Yamada Bee Company (Japan)

• Dutch Gold Honey Inc. (U.S.)

• Golden Acres Honey (Canada)

Industry Trends:

Growing Demand for Organic Products: Consumers in developed markets such as Europe, the U.S., and Japan are increasingly opting for organic honey, reflecting a broader shift toward clean-label and natural products.

Innovation in Health and Wellness: New honey-based health products, including supplements and functional beverages—like Singapore’s “Honey Exir”—are expanding the market’s reach and appeal.

Technological Advancements: Automation in honey extraction and filtration processes is enhancing product quality and operational efficiency across the supply chain.

Post-Pandemic Health Consciousness: Increased awareness of honey’s antiviral and immune-boosting properties has led to a notable rise in consumption following the COVID-19 pandemic.

Source: https://www.fortunebusinessinsights.com/industry-reports/honey-market-100551

Segments

Buckwheat Segment to Dominate Attributable to High Nutritional Value

By type, the market is segmented into alfalfa, buckwheat, wildflower, clover, acacia, and others. The buckwheat segment is expected to dominate due to its high nutritional value.

Food & Beverage Segment to Dominate Attributable to its Increasing Applications

Based on application, the market is classified into food & beverages, personal care & cosmetics, pharmaceuticals, and others. The food & beverage segment is expected to dominate due to its increasing applications.

Bottle Segment to Lead Owing to Easy Transportation

By packaging, the market is categorized into glass jar, bottle, tub, tube, and others. The bottle segment is expected to lead the market due to its easy transportation.

Regionally, the market is clubbed into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage

The report gives an in-depth view of the leading segments and the latest trends in the market. It looks at what is driving market growth and what is hindering it, including the impact of COVID-19. It also discusses developments in various regions and the strategies used by major companies in the market.

Market Growth

The global honey market is steadily growing, driven by increasing consumer awareness of honey’s health-promoting properties, such as its antioxidant, anti-inflammatory, and antibacterial effects. As a natural alternative to refined sugars and artificial sweeteners, honey is gaining popularity, especially in the food and beverage sector. Its therapeutic qualities are also boosting demand in the cosmetics and pharmaceutical industries. Premium varieties like manuka and organic honey are seeing a surge in popularity, often fetching higher prices. Furthermore, the rise of e-commerce and global trade is helping to fuel the market’s continued expansion.

Drivers and Restraints

Rising Adoption of the Product for Natural Sweeteners Production to Foster Market Growth

Honey is widely regarded as a healthier alternative to sugar, valued for its healing properties like soothing sore throats and supporting immune health. With a growing number of consumers choosing honey as a natural sweetener, demand is projected to increase. Health-conscious lifestyles, rising incomes, and a shift toward organic products are all contributing to its growing popularity. Additionally, honey’s applications in medicine are expected to boost sales further.
However, potential changes or adulteration of the product could present challenges to sustained market growth.

Regional Insights

Rising Production of Nectar to Propel Market Growth in Asia Pacific

Asia Pacific is expected to lead the honey market due to its high production levels. In 2021, the market in this region was valued at USD 2.86 billion and is projected to capture a large share of the global market in the coming years. Government investments in beekeeping are also likely to boost market growth. For instance, in May 2020, the Indian government allocated nearly USD 68 million for beekeeping under the Atma Nirbhar Bharat initiative.

In Europe, increasing awareness of honey's health benefits is expected to drive its adoption. Changing consumer preferences and a rise in the consumption of organic products may further promote market growth.

In North America, the growing number of beekeepers in Canada and the U.S. is expected to increase product demand. Additionally, strong demand for organic products is enhancing industry growth.

Competitive Landscape

Companies Devise Novel Product Launches to Elevate Brand Image

Top companies are releasing new products to boost their brand image and increase sales. For instance, in January 2022, Tayima Foods launched I'M HONEY, an organic and raw honey in various flavors with significant medicinal benefits. This product is sold on online platforms like Amazon and is anticipated to increase Tayima's sales and expand their global reach. Moreover, companies are also focusing on mergers, partnerships, expansions, and research and development to fuel market growth.

Honey Market Outlook

• Growing demand: Global demand for honey is on the rise. Consumers are increasingly aware of the health benefits and natural muscle tone.
• Health notes: Honey is often considered a healthy alternative to refined sugar. This trend is leading more people to choose honey in their diet.
• Sustainability focus: More focus on sustainable and organic products. Beekeeping, which supports environmental health, is on the rise.
• Product innovation: New products such as fermented foods and beverages are emerging. This diversity of brands creates widespread appeal and increases sales.

KEY INDUSTRY DEVELOPMENTS:

January 2024: Apis India launched organic honey, which is made of honey sourced from organic-certified lands in India.

March 2023: Bagrrys India, a leading honey manufacturer, launched Bagrry’s Organic Wild Honey. The product is available in glass jars across all retail outlets in the country.

Market Overview:

The global dry fruits market size was USD 6.71 billion in 2023 and is projected to grow from USD 6.96 billion in 2024 to USD 10.41 billion by 2032, exhibiting a CAGR of 5.16% during the forecast period 2024-2032. Europe dominated the dry fruits market with a market share of 28.32% in 2023. Moreover, the dry fruits market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 1.12 billion by 2032, driven by the emerging trend of better-for-you products, which has ultimately increased dried fruits adoption in various food sectors across the region.

LIST OF KEY COMPANIES PROFILED

• Manassen Foods Australia Pty Ltd. (New South Wales, Australia)
• Olam International Limited (Singapore)
• Ocean Spray Cranberries, Inc. (Massachusetts, U.S.)
• Bergin Fruit and Nut Company, Inc. (Minnesota, U.S.)
• Sunsweet Growers, Inc. (California, U.S.)
• National Raisin Company (California, U.S.)
• Sun-Maid Growers of California (California, U.S.)
• Angus Park Fruit Company Pty Ltd (North SA, Australia)
• Graceland Fruit, Inc. (Michigan, U.S.)
• Murray River Organics (Victoria, Australia)

Source: https://www.fortunebusinessinsights.com/industry-reports/dry-fruits-market-100544

Market Segments :

The global market is classified by type into table dates, dried grapes, dried figs, dried apricots, prunes, and dried cranberries. Dried grapes are expected to hold the largest share during the forecast period due to their extensive variety of healthy snacks. They are also a great value in the international food service industry due to their utilization in a range of bakery products and desserts.

The market is divided into bakery, confectioneries, breakfast cereal, and snacks based on application. The bakery segment is expected to hold the lion’s share during the forecast period. The growth is attributed to the high demand for healthy baked goods such as gluten-free, vegan, and fiber-rich cakes and muffins

Based on geography, the market is categorized into North America, Asia Pacific, the Middle East and Africa, and Latin America.

The report on the fruit market involves :

• Through analysis of all the sections in the market
• Informative data and figures
• Market trends and drivers
• Meticulous information about prominent companies
• Key development
• COVID-19 impact

Driving Factor :

Surging Demand for Organic Snacking Options to Encourage Growth

The increasing popularity of natural and minimally processed organic food products is expected to foster the market's healthy growth. The excessive demand for small-sized mixed dried fruit packs, snack bars, and breakfast bars infused with whole or minimally processed dried fruits will accelerate the growth of the dry fruit industry. Moreover, the surging sales of breakfast cereals like muesli and granola that utilize organic dried fruits as key ingredients will further spur opportunities for the market. The increasing knowledge about the nutritional benefits of clean-label and organic dried fruit will incite the dry fruit market's development. Besides, the increasing focus for improved food safety and quality control through refined technologies such as freeze-drying will bode well for the market. Hence, the need for freeze-dried fruits to produce breakfast cereal and bakery items can significantly foster market development.

Regional Insights :

Rising Demand for Confectionery and Snacks to Aid Market in Europe

Asia Pacific is expected to hold a significant share during the forecast period due to consumers' increased discretionary income levels. The increasing spending capacity of consumers will further benefit the dry fruit market in the forthcoming years. Moreover, the growing awareness regarding the health benefits of dried fruits will aid the expansion of the market in China, India, and Vietnam. Europe is expected to hold the lion’s share during the forecast period due to the growing demand for dried grapes, table dates, and dried apricots in European countries. North America is expected to expand gradually in the forthcoming years due to the need for healthy baked goods, confectionery, and snacks in the region. The Middle East and Africa is expected to rise exponentially during the forecast period due to the growing production of dried fruits in Saudi Arabia and Iran.

KEY INDUSTRY DEVELOPMENTS

December 2020-  Great Value Foods LLP owned brand ORCO launched a range of organic dry fruits free from any impurity and artificial colors.

February 2018 –  Peyman Kuruyemis, a Turkish producer of dried fruits, nuts, and seeds has expanded its production capacity by building a new production facility for dried fruits.

Market Size:

According to our analysis, the global non-alcoholic beverages market was valued at USD 919.13 billion in 2019 and is expected to reach USD 1,601.87 billion by 2032, registering a CAGR of 6.84% over the forecast period. The U.S. non-alcoholic beverages market is anticipated to see substantial growth, with its value projected to reach approximately USD 225.62 billion by 2030. In 2019, North America led the global market, accounting for a 21.71% share.

The global non-alcoholic beverages market size is anticipated to rise significantly on account of the current trend of health and fitness and the rising inclination towards healthy beverages. As per a recent published report by Fortune Business Insights titled,  “Non-alcoholic Beverages Market Size, Share & Industry Analysis, By Type (Carbonated Soft Drinks, RTD Coffee & Tea, Bottled Water, and Fruit Beverages), Distribution Channel (Supermarket/ Hypermarket, Food Services Sector, Convenience Stores, Specialty Stores, and Online Retails), and Regional Forecast, 2020-2032,” 

List of Companies Profiled in the Report:  

• Pepper Snapple Group, Inc. (Texas, U.S.)
• Monster Beverage Corp (California, U.S.)
• PepsiCo, Inc. (New York, U.S.)
• ITO EN Ltd (Tokyo, Japan)
• The Coca-Cola Company (Georgia, U.S.)
• Reed’s, Inc. (Norwalk, U.S.)
• The Kraft Heinz Company (Chicago, U.S.)
• Appalachian Brewing Co. (Harrisburg, U.S.)
• Nestle S.A. (Vevey, Switzerland)
• Arca Continental SAB de CV (Monterrey, Mexico)    

The Report is based on the following factors:

• A 360-degree overview of the market focusing on drivers, restraints, challenges, and upcoming opportunities
• Nature of market and list of key players operating in the market for non-alcoholic beverages
• Detailed list of segmentation with names and figures of leading segments
• Future of the market

Source: https://www.fortunebusinessinsights.com/industry-reports/non-alcoholic-beverages-market-101927

Drivers & Restraints-

Increasing Popularity of Refreshment Drinks to Aid in Favor

The growing prevalence of both acute and chronic diseases has driven people to adopt healthier lifestyles, which include regular exercise and the consumption of nutritious foods and beverages. This shift towards healthier living and dietary habits is a major factor fueling the growth of the global non-alcoholic beverages market. Additionally, the rising popularity of refreshment drinks, along with the introduction of innovative flavors and tastes, is expected to further boost market expansion during the forecast period.

However, the market may face challenges due to fluctuating prices of raw materials used in non-alcoholic beverages, particularly seasonal fruits, and potential supply shortages. Despite these obstacles, the growth of e-commerce platforms and increased production of soft drinks to meet consumer demand are likely to create lucrative opportunities for the market in the coming years.

Segmentation-

Carbonated Soft Drinks Segment Emerged Dominant Owing to its Refreshing Properties

Among all segments in type, the carbonated soft drinks segment earned 39.80% share in 2019 and emerged dominant. This segment is holding the largest non-alcoholic beverages market share on account of its refreshing properties and cost-efficiency.

Regional Analysis-

Asia Pacific Held Largest Shares Attributing to Rising Disposable Income of People

Among all regions, Asia Pacific held the largest non-alcoholic beverages market share in 2019. This is attributable to the increasing modernization and adoption of western habits among people that resulted in rise in expenditure on beverage products. On the other side, the North American market earned USD 199.53 billion and will showcase significant growth in the coming years on account of rising demand for sports drinks and RTD beverages in the region. Besides this, the Europe market will witness a notable growth on account of the decline in consumption of alcoholic beverages and increasing popularity of ‘better-for-you” products, thereby promoting the consumption of healthy soft drinks.

Non-Alcoholic Beverages Market Future Outlook* Growing Health Consciousness: More consumers are focusing on health and wellness. This trend is driving demand for low-calorie and sugar-free options.

• Diverse Product Range: The market is expanding with innovative flavors and formulations. Brands are introducing everything from sparkling waters to herbal teas to meet diverse tastes.

• Sustainability Focus: Eco-friendly packaging is becoming a priority. Many brands are adopting sustainable practices to appeal to environmentally conscious consumers.

Competitive Landscape-

Coca-Cola Company is Dominating Market Attributing to Continuous Innovations

The global non-alcoholic beverages market is highly consolidated, with a few key players, such as Nestlé S.A., The Coca-Cola Company, and PepsiCo Inc., holding a significant share. The Coca-Cola Company leads the market through its ongoing innovations in beverage products, including its VitaminWater line, probiotic drinks, fermented beverages, and ready-to-drink (RTD) options. For instance, in March 2019, Coca-Cola launched a Jaljeera-flavored drink in the Indian market. Other companies are also heavily investing in innovative product launches to gain a competitive advantage. Additionally, many are pursuing collaborative strategies, including agreements, contracts, joint ventures, and partnerships, to drive substantial revenue growth in the coming years.

Industry Developments:

December 2019 –  The launch of a greenhouse accelerator program in 2020 was announced in North America by PepsiCo Co. to help smart startup companies provide the base for following up with the current trends in the non-alcoholic beverage segment and earn a position in the market competition.

Report Overview

The global eggs market was valued at USD 150.83 billion in 2024. It is expected to grow from USD 158.81 billion in 2025 to USD 222.86 billion by 2032, with a CAGR of 4.96% during the forecast period. The U.S. eggs market is projected to expand significantly, reaching an estimated USD 24.81 billion by 2032, driven by increasing demand for healthy protein sources. Asia Pacific led the market in 2024, holding a 59.56% share.

The eggs market has been evolving and adapting to new PETA-friendly methods due to the rapidly changing consumer base. Different types of eggs in the market, including organic, cage-free, and free-range, are gaining prominence. The nutritional benefits associated with eggs have significantly increased their consumption rate globally, and is expected to drive market growth during the forecast period.

Fortune Business Insights presents this information in their report titled  “ Eggs Market, 2025-2032 .”

List of Key Players Present in the Report :

• Cal-Maine Foods, Inc. (U.S.)
• Rose Acre Farms Inc. (U.S.)
• Hillandale Farms (U.S.)
• Versova Holdings LLP (U.S.)
• Daybreak Foods (U.S.)
• CP Group (Thailand)
• Beijing Dequingyuan Agricultural Technology Co. Ltd. (China)
• Ise Inc. (Japan)
• Arab Company of Livestock Development (ACOUD) (Saudi Arabia)
• Gemperle Family Farms (U.S.)

Segments:

Conventional Eggs Maintain Market Leadership, Fueled by Production Efficiency and Widespread Availability

By product type, the market is segmented into conventional, cage-free, organic, and free-range. The conventional segment is projected to hold a significant market share during the forecast period. The growth is attributed to the high availability of conventional eggs due to their increased production rate.

Easy Accessibility and Hypermarket Convenience Propel Retail Segment's Share

The market is segmented into two main categories: food service and retail, which includes large supermarkets, hypermarkets, grocery shops, online retailers, and more. It is projected that the retail category will dominate the market throughout the forecast period, primarily because grocery stores are easily accessible. Additionally, the increasing convenience offered by large supermarkets and hypermarkets will contribute to the growth of this category.

Geographically, the market is studied across North America, Europe, Asia Pacific, South America, the Middle East, and Africa.

Source: https://www.fortunebusinessinsights.com/eggs-market-108483

Report Coverage

The report highlights the main reasons behind market growth, the challenges it faces, opportunities for expansion, and potential obstacles. It provides an in-depth look at regional developments, lists major industry players, and explains their key strategies. It also covers the latest industry news, including new product launches, partnerships, mergers, and acquisitions.

Eggs Market Future Outlook

• Growing Demand: The global demand for eggs is expected to rise. This trend is driven by a growing population and increasing health consciousness among consumers.

• Sustainability Practices: More farms are adopting sustainable practices. This shift will likely appeal to eco-conscious buyers and could boost market growth.

• Innovative Products: The market is seeing an increase in innovative egg products. Examples include organic, free-range, and fortified eggs, catering to diverse consumer preferences.

• Technological Advancements: Advances in farming technology may improve production efficiency. This can lead to lower costs and potentially higher profit margins for producers.

Drivers & Restraints

Market Flourishes as Health Awareness Spurs Consumption and Government Backing Boosts Growth

Since the pandemic, egg consumption has increased across various demographic groups, driven by a heightened focus on health and nutritious diets. Government campaigns promoting the health benefits of eggs have also played a key role in fueling this market growth.

However, rising global temperatures caused by climate change are expected to negatively impact egg production worldwide, posing a potential challenge to the market's continued expansion.

Regional Insights

Asia Pacific Takes the Lead as China and India Steer Consumption and Production Trends

Asia Pacific holds the largest eggs market share and is anticipated to continue its dominance during the projected period. The growth in the region can be attributed to the high consumption rate of eggs in India, China, and Japan, with China and India being prominent egg producers.

North America is also estimated to hold a major share of the market due to increased egg consumption in North American countries, including Mexico and the U.S.

Market Trends and Insights

In recent years, the egg market has experienced several significant trends influencing consumer preferences and purchasing behavior. One prominent trend is the increasing demand for organic and free-range eggs, driven by consumers' growing concerns about sustainability and animal welfare. In response, many egg producers have broadened their offerings to include these products, catering to this expanding segment.

Another noteworthy development is the rise of specialty eggs, such as omega-3 enriched and pasteurized eggs. These options provide added health benefits and enhanced food safety, attracting consumers seeking premium-quality products. Additionally, innovations in packaging technology have improved convenience in accessing and storing eggs, further contributing to the market's growth.

Competitive Landscape

Increasing Technological Investments by Key Players to Propel Market Growth

Major companies in the market, such as Cal-Maine Foods, Hillandale Farms, and Rose Acre Farms, are heavily investing in new technologies to improve the production of organic eggs. These efforts are anticipated to drive market growth in the coming years.

KEY INDUSTRY DEVELOPMENTS:

June 2022:  ISE Food Inc., one of the leading egg producers in Japan, announced its expansion into the Indian market by launching its products in several retail channels in India. The launch aims to cater to the growing Indian egg market.

Market Overview

The global vegetable seeds market was valued at USD 8.45 billion in 2024 . It is expected to expand from USD 8.91 billion in 2025 to USD 12.88 billion by 2032 , reflecting a compound annual growth rate (CAGR) of 5.40% during the forecast period (2025-2032). Asia Pacific led the market, holding a 10.06% share in 2024 .

The global vegetable seeds market is poised for growth, driven by rising awareness of the health benefits associated with vegetable consumption across both developing and developed nations. According to the World Health Organization (WHO), inadequate intake of fruits and vegetables contributes to approximately 1.7 million deaths globally each year. This insight is highlighted in a report by Fortune Business Insights™, titled “Vegetable Seeds Market Size, Share & COVID-19 Impact Analysis, By Type (Open Pollinated Varieties and Hybrids), Crop Type (Solanaceae, Root & Bulb, Cucurbit, Brassica, Leafy, and Others), Cultivation Method, and Regional Forecast, 2025–2032.”

A list of all the vegetable seeds manufacturers operating in the global market:

• BASF SE- Germany
• Bayer AG. – Germany
• Syngenta AG – Switzerland
• Groupe Limagrain- France
• Rijk Zwaan Zaadteelt en Zaadhandel B.V- Netherlands
• Sakata Seed Corporation- Japan
• Takii & Co., Ltd- Japan
• Enza Zaden BV- Netherlands
• East-West Seed- Thailand
• Bejo Zaden B.V.- Netherlands

This Report Answers the Following Questions:

• Which segment is likely to lead the market in the coming years?
• Which company would generate the highest revenue in the future?
• What are the market's predicted, historical, and current sizes?
• How will prominent firms surge sales of vegetable seeds amid COVID-19?

Cultivating Growth Opportunities:

As the world's population grows, efficient food production becomes more pronounced. This presents a significant opportunity for the vegetable seed market to expand and meet the escalating demand for fresh produce. From traditional seed suppliers to niche players focusing on organic and non-GMO seeds, the market is teeming with potential for growth and profitability.

Source: https://www.fortunebusinessinsights.com/vegetable-seed-market-103066

Drivers & Restraints-

Rising Inclusion of Vegetables in Diet to Propel Growth

Nowadays, various companies are developing vegetable hybrids to suit the requirements of farmers and consumers. Such vegetables possess a broad range of qualities, such as shelf-life, flavor, shape, color, yield, taste, nutrition, and adaptability. Hence, hybrid vegetable seeds are experiencing more popularity, as compared to non-hybrid seeds.

Moreover, the rising inclusion of vegetables in one’s diet is helping to combat malnutrition. In many developing countries, the nutritional richness of vegetables is often considered to be a cost-effective remedy for nutritional deficiencies. However, climate change is a major issue for agricultural production worldwide. It may hamper the vegetable seeds market growth in the coming years.

Segment-

Solanaceae Segment to Grow Rapidly Backed by Rising Investments by Key Companies

Based on crop type, the Solanaceae segment earned 41.34% in terms of vegetable seeds market share in 2024. This growth is attributable to the rising investments by reputed vegetable seeds manufacturers in developing premium-quality seeds, such as hybrid tomato. The segment mainly consists of pepper, eggplant, potatoes, and tomatoes.

Key Benefits For Stakeholders

• This report offers a quantitative analysis of the vegetable seeds market segments, trends, estimates, and dynamics from 2022 to 2032 to identify current opportunities.
• It includes information on key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the influence of buyers and suppliers, helping stakeholders make profitable business decisions and strengthen their supplier-buyer relationships.
• The report provides an in-depth analysis of market segments to identify current opportunities.
• It maps major countries in each region based on their revenue contribution to the global market.
• Market player positioning helps with benchmarking and understanding the current standing of market players.
• The report covers both regional and global vegetable seeds market trends, key players, market segments, application areas, and growth strategies.

Regional Analysis-

Asia Pacific to Remain at Forefront Backed by Expansion of the Agriculture Industry

Geographically, in 2024, Asia Pacific procured USD 0.85 billion in terms of revenue. The region is set to retain its dominant position throughout the forthcoming years, stoked by the increasing area of horticultural crops in the region. Apart from that, the expansion of the agriculture industry is set to contribute to this growth. India and China are the most significant countries that report high vegetable consumption and production.

Europe, on the other hand, is set to exhibit considerable growth backed by the increasing advancements in the field of breeding technologies. It will help in the development of high-quality vegetable seeds. In North America, the demand for the product is set to be high from Mexico and the U.S.

Objective of Vegetable Seed Production

The primary objective of this type of gardening is to produce high-quality seeds on a large scale, overseen by an organization. Key factors in selecting locations for seed-growing areas include climate, soil, and disease-free conditions.

The objective of Seed Marketing

The aim of seed marketing is to fulfill farmers' needs by offering a dependable supply of high-quality, improved seed varieties at affordable prices. For agricultural retailers, this involves selling seeds alongside other farming inputs to farmers.

Competitive Landscape-

Key Players Focus on Acquisition Strategy to Gain a Competitive Edge

The vegetable seed market is consolidated due to an increasing number of mergers and acquisitions. Many multinational companies are investing significant amounts of money in developing innovative growing techniques to meet rising demand.

Here are the latest industry developments:

July 2023:  Syngenta, one of the prominent players in the agriculture inputs industry, announced the acquisition of Feltrin Sementes, a vegetable seed company based in Brazil. The move would help expand the range of products that the company can offer across the globe.

Market Overview:

The global fresh vegetables market size was valued at USD 714.25 billion in 2023. The market is projected to grow from USD 731.18 billion in 2024 to USD 921.09 billion by 2032, exhibiting a CAGR of 2.93% during the forecast period. Asia Pacific dominated the fresh vegetables market with a market share of 63.9% in 2023.

Fresh vegetables are perishable, which has increased the demand for an efficient supply chain management to ensure that the highest quality of produce reaches the customers and there is no waste. The demand for these vegetables might fluctuate based on various factors, such as customers’ preferences, economic conditions, and urbanization in various countries. Customers’ increasing inclination toward healthier foods will bolster the demand for fresh vegetables.

LIST OF KEY COMPANIES PROFILED IN THE REPORT

• Dole Plc. (Ireland)
• Fresh Del Monte Produce Inc. (U.S.)
• H. Robinson Worldwide, Inc. (U.S.)
• Binder International GmbH & Co. KG (Germany)
• Keelings (Ireland)
• Wang Zeng International Limited (U.K.)
• Mirak Group (UAE)
• Favco (Australia)
• Vegpro International Inc. (Canada)
• Mazzoni S.p.A. (Italy)

Segmentation:

Increasing Preference for Vegan Diet to Help Others Segment Dominate Market

Based on type, the market has been divided into onions, potatoes, tomatoes, cucumber, cabbage, eggplant, and others. The others segment includes carrots, broccoli, mushrooms, corn, garlic, asparagus, and green beans. The others segment is predicted to dominate the market due to the increasing preference for vegan diet among individuals to lead a healthier life.

Household Segment to Dominate Market Owing to Rising Global Population

Based on end use, the market has been segregated into household and commercial. The household segment is anticipated to dominate the global fresh vegetables market share due to the growing global population. This factor will increase the demand for healthy foods, which will positively impact the sales of fresh vegetables.

Availability of Wide Array of Products to Boost Customer Footfall in Offline Stores

Based on distribution channel, the market is segmented into online and offline. The offline segment might hold the biggest market share during the forecast period as offline stores offer a wide range of fresh vegetables that customers can choose from. Moreover, they can personally inspect the quality of the products before purchasing them, further strengthening the segment’s growth.

With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Source: https://www.fortunebusinessinsights.com/fresh-vegetables-market-110977

Report Coverage:

The report has conducted a detailed study of the market and highlighted several critical areas, such as popular types, distribution channels, end uses, and prominent market players. It has also focused on the latest market trends and the key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.

Drivers and Restraints:

Increasing Demand for Organic & Healthy Foods to Augment Market Growth

A growing number of individuals are becoming conscious about their health and wellbeing, which has resulted in an increased demand for organic and healthy foods, such as fresh vegetables. People are becoming aware of the role a healthy and well-balanced diet plays in improving them from a wide range of chronic diseases, such as heart ailments, diabetes, and cancer. This factor is expected to increase the consumption of fresh vegetables.

However, several farmers can find it difficult to obtain the organic grower certification from relevant authorities, which can adversely impact the fresh vegetables market growth.

Regional Insights:

Asia Pacific Dominated Global Market Owing to Large-Scale Production of Fresh Vegetables

Asia Pacific held the largest global market share in 2023 as the region is known for its large-scale production of fresh vegetables. Countries, such as India and China are the world’s leading producers and exporters of vegetables. As per the Ministry of China, the country produced an astounding 680 million metric tons of vegetables in 2022. These factors are expected to help the region dominate the global market.

North America is also anticipated to show healthy growth due to the increasing adoption of vegan diet in countries, such as the U.S. and Canada.

Competitive Landscape:

Leading Market Players to Focus On Partnerships and Acquisitions to Remain Competitive

Some of the top companies operating in the market are announcing partnerships, acquisitions, and mergers & acquisitions to expand the capacity of producing fresh vegetables. They are also using these strategies to launch new and exotic varieties of vegetables. These business decisions will help them expand their current customer base.

Notable Industry Development:

April 2024 –  Gopuff, an American retail company, announced its partnership with Misfits Market, an online grocery delivery platform. Through this collaboration, the companies plan to introduce over 300 fresh grocery items across the U.S., including fruits, vegetables, dairy, and poultry to the customer’s doorstep in 15 minutes.

Market Overview

The global chocolate confectionery market size was valued at USD 114.33 billion in 2019 and is projected to reach USD 164.97 billion by 2032, exhibiting a CAGR of 2.98% during the forecast period based on our analysis in the existing report. North America dominated the chocolate confectionery market with a market share of 17.06% in 2019.

Widespread awareness regarding the potential health benefits of chocolate is expected to play a central role in driving the growth of this market, states Fortune Business Insights™ in its report, titled “ Chocolate Confectionery Market Size, Share & Industry Analysis, By Type (Dark, Milk, and White), Category (Premium, Seasonal, and Everyday), and Regional Forecast, 2020-2032 ”. Chocolate products, especially dark chocolate, offer a plethora of health benefits. Dark chocolate and cocoa are known to have more flavanols, polyphenols, and antioxidants compared to acai berries, blueberries, and many other naturally occurring consumable foods. Further, a dark chocolate bar holds considerable amounts of iron, copper, and fiber, bolstered with an additional variety of other nutrients. A research study in the National Institutes of Health found that consuming dark chocolate helps regulate blood pressure more efficiently as the presence of flavanols can activate the lining within the arteries, reducing the impediments to blood flow and lowering the risk of heart disorders. These benefits of dark chocolate are surging their consumption, which is propelling the global market growth.

list of Top Chocolate Confectionery Companies:

• Barry Callebaut (Zürich, Switzerland)
• Nestle S.A. (Vevey, Switzerland)
• Chocoladefabriken Lindt & Sprungli AG (Zürich, Switzerland)
• Ferrero SpA (Alba, Italy)
• HARIBO GmbH & Co. KG (Bonn, Germany)
• Mondelez International (Illinois, U.S.)
• Meiji Holdings Co., Ltd. (Tokyo, Japan)
• The Hershey Company (Pennsylvania, U.S.)
• Ezaki Glico Co., Ltd. (Osaka, Japan)
• Mars Inc. (Virginia, U.S.)

The report states that the global market value stood at USD 114.33 billion in 2019 and shares the following:

• Thorough analysis of the short-term and long-term impact of the COVID-19 pandemic on the market;
• Actionable insights into the upcoming opportunities in the market;
• Tangible research into the market, drivers, restraints, and segments; and
• In-depth examination of the regional developments, competitive landscape, and upcoming investment pockets for the market.

Source: https://www.fortunebusinessinsights.com/industry-reports/chocolate-confectionery-market-100539

Market Restraints

Shrinking Sales amid COVID-19 Pandemic to Stall Market Growth

The chocolate confectionery market growth is expected to be hit by the coronavirus pandemic as lockdown and social distancing measures have forced consumers to stay at home and retail shops to close down, albeit temporarily. Moreover, severe global economic downturn has led to job losses and plummeting revenues for businesses, which has arrested spending on non-essential foods such as chocolate products. This, in turn, has contracted sales of some of the major players in the chocolate confectionery industry. The Hershey Company, for instance, reported in April that its international net sales dipped by 8.1% to USD 192.5 million. Similarly, in July 2020, Lindt & Spruengli, the Swiss chocolate maker, announced a fall in organic sales by 5-7% in the current year owing to store closures forced by COVID-19.

Regional Insights

North America to Have Dominating Lead in the Market Backed by High Demand for Premium Chocolates

With a market size of USD 19.50 billion in 2019, North America is anticipated to lead the chocolate confectionery market share during the forecast, mainly owing to the high demand for premium chocolate snacks and products among the consumers in the region. However, in the US, whose market volume stood at 1,410.20 thousand tons in 2019, the market is expected to experience limited growth owing to increasing resistance to high-sugar chocolate confectioneries and rising preference for low-sugar confectionery items.

In Europe, chocolate items are a central component in festivals in the region, which is the major factor augmenting the market growth. In Asia-Pacific, per capita consumption of chocolate products is increasing as a result of growing disposable income in the region. Large proportion of young population and evolving taste preferences are having a considerable influence on the growth trajectory of the market in the region.

Competitive Landscape

Heavy Investments in R&D by Key Players to Create Healthy Competitive Atmosphere

The market for chocolate confectioneries is characterized by a healthy competitive climate as top companies are directing their energies towards elevating their R&D capabilities. Moreover, some players in this market are also engaging in efforts towards establishing sustainable agriculture practices in key cocoa producing regions.

Industry Developments:

• July 2020:  Mars, Incorporated announced its collaboration with World Agroforestry and the International Fund for Agricultural Development to initiate a 5-year-long research project called Sustainable Farming in Tropical Asian Landscapes. The project will be directed towards sustainably connecting small-scale cocoa and palm oil producers in Indonesia and the Philippines to global supply chains.
• October 2019:  India-based ITC Limited released the world’s most expensive chocolate under its Fabelle brand. Priced at INR 4.3lakh per kilogram, the limited edition luxury chocolate dubbed ‘Trinity – Truffles Extraordinaire’ entered into the Guinness Book of World Records as the world’s costliest chocolate product.

Market Overview

The global honey market size was valued at USD 8.94 billion in 2023 and is projected to grow from USD 9.40 billion in 2024 to USD 15.59 billion by 2032, exhibiting a CAGR of 6.52% during the forecast period 2024-2032. Moreover, the honey market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 1.89 billion by 2032, driven by the growing number of beekeepers in the country, coupled with rising demand for natural sweeteners. Asia Pacific dominated the honey market with a market share of 100% in 2023.

In the United States, the honey market is also poised for substantial growth, with projections indicating it will reach USD 1.89 billion by 2032 . This rise is largely attributed to an increasing number of beekeepers and a growing preference for natural sweeteners.

Asia Pacific led the global market in 2023, capturing the entire market share . The surge in demand for organic and healthier sugar alternatives continues to be a key driver of growth across regions.

List of Key Companies Profiled in the Report:

• Bee Maid Honey Limited (Canada)

• Comvita Limited (New Zealand)

• Capilano Honey Ltd. (Australia)

• Dabur India Ltd. (India)

• Billy Bee Honey Products (Canada)

• New Zealand Honey Co. (New Zealand)

• Barkman Honey LLC (U.S.)

• Yamada Bee Company (Japan)

• Dutch Gold Honey Inc. (U.S.)

• Golden Acres Honey (Canada)

Industry Trends:

Growing Demand for Organic Products: Consumers in developed markets such as Europe, the U.S., and Japan are increasingly opting for organic honey, reflecting a broader shift toward clean-label and natural products.

Innovation in Health and Wellness: New honey-based health products, including supplements and functional beverages—like Singapore’s “Honey Exir”—are expanding the market’s reach and appeal.

Technological Advancements: Automation in honey extraction and filtration processes is enhancing product quality and operational efficiency across the supply chain.

Post-Pandemic Health Consciousness: Increased awareness of honey’s antiviral and immune-boosting properties has led to a notable rise in consumption following the COVID-19 pandemic.

Source: https://www.fortunebusinessinsights.com/industry-reports/honey-market-100551

Segments

Buckwheat Segment to Dominate Attributable to High Nutritional Value

By type, the market is segmented into alfalfa, buckwheat, wildflower, clover, acacia, and others. The buckwheat segment is expected to dominate due to its high nutritional value.

Food & Beverage Segment to Dominate Attributable to its Increasing Applications

Based on application, the market is classified into food & beverages, personal care & cosmetics, pharmaceuticals, and others. The food & beverage segment is expected to dominate due to its increasing applications.

Bottle Segment to Lead Owing to Easy Transportation

By packaging, the market is categorized into glass jar, bottle, tub, tube, and others. The bottle segment is expected to lead the market due to its easy transportation.

Regionally, the market is clubbed into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage

The report gives an in-depth view of the leading segments and the latest trends in the market. It looks at what is driving market growth and what is hindering it, including the impact of COVID-19. It also discusses developments in various regions and the strategies used by major companies in the market.

Market Growth

The global honey market is steadily growing, driven by increasing consumer awareness of honey’s health-promoting properties, such as its antioxidant, anti-inflammatory, and antibacterial effects. As a natural alternative to refined sugars and artificial sweeteners, honey is gaining popularity, especially in the food and beverage sector. Its therapeutic qualities are also boosting demand in the cosmetics and pharmaceutical industries. Premium varieties like manuka and organic honey are seeing a surge in popularity, often fetching higher prices. Furthermore, the rise of e-commerce and global trade is helping to fuel the market’s continued expansion.

Drivers and Restraints

Rising Adoption of the Product for Natural Sweeteners Production to Foster Market Growth

Honey is widely regarded as a healthier alternative to sugar, valued for its healing properties like soothing sore throats and supporting immune health. With a growing number of consumers choosing honey as a natural sweetener, demand is projected to increase. Health-conscious lifestyles, rising incomes, and a shift toward organic products are all contributing to its growing popularity. Additionally, honey’s applications in medicine are expected to boost sales further.
However, potential changes or adulteration of the product could present challenges to sustained market growth.

Regional Insights

Rising Production of Nectar to Propel Market Growth in Asia Pacific

Asia Pacific is expected to lead the honey market due to its high production levels. In 2021, the market in this region was valued at USD 2.86 billion and is projected to capture a large share of the global market in the coming years. Government investments in beekeeping are also likely to boost market growth. For instance, in May 2020, the Indian government allocated nearly USD 68 million for beekeeping under the Atma Nirbhar Bharat initiative.

In Europe, increasing awareness of honey's health benefits is expected to drive its adoption. Changing consumer preferences and a rise in the consumption of organic products may further promote market growth.

In North America, the growing number of beekeepers in Canada and the U.S. is expected to increase product demand. Additionally, strong demand for organic products is enhancing industry growth.

Competitive Landscape

Companies Devise Novel Product Launches to Elevate Brand Image

Top companies are releasing new products to boost their brand image and increase sales. For instance, in January 2022, Tayima Foods launched I'M HONEY, an organic and raw honey in various flavors with significant medicinal benefits. This product is sold on online platforms like Amazon and is anticipated to increase Tayima's sales and expand their global reach. Moreover, companies are also focusing on mergers, partnerships, expansions, and research and development to fuel market growth.

Honey Market Outlook

• Growing demand: Global demand for honey is on the rise. Consumers are increasingly aware of the health benefits and natural muscle tone.
• Health notes: Honey is often considered a healthy alternative to refined sugar. This trend is leading more people to choose honey in their diet.
• Sustainability focus: More focus on sustainable and organic products. Beekeeping, which supports environmental health, is on the rise.
• Product innovation: New products such as fermented foods and beverages are emerging. This diversity of brands creates widespread appeal and increases sales.

KEY INDUSTRY DEVELOPMENTS:

January 2024: Apis India launched organic honey, which is made of honey sourced from organic-certified lands in India.

March 2023: Bagrrys India, a leading honey manufacturer, launched Bagrry’s Organic Wild Honey. The product is available in glass jars across all retail outlets in the country.