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Egypt Honey Market Trends

ID: MRFR//4778-CR | 64 Pages | Author: Pradeep Nandi| July 2018

Egypt Honey Market Overview

Egypt Honey Market Size was valued at USD 0.019 Billion in 2022. The Egypt Honey market industry is projected to grow from USD 0.020 Billion in 2024 to USD 0.037 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.00% during the forecast period (2024 - 2032). Increased awareness about the health benefits of honey and the rising demand for honey throughout the world are the key market drivers enhancing market growth.

Egypt Honey Market1

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Egypt Honey Market Trends

  • Growing demand for honey is driving the market growth

Market CAGR for Egypt honey is being driven by the growing demand for honey. Consumers are shifting their preferences from artificial and sugar sweeteners to healthier and more nutritious substitutes. Honey is also fermented to create sweet alcoholic beverages is anticipated to boost market growth. The pharmaceutical industry has the increasing use of honey, and consumers are leaning towards healthy lifestyles, this is going to fuel the market of honey as honey contains a lot of antioxidants.

Honey is widely used as a common ingredient in several diets and cuisines, acknowledged to be a significant nutritional source. Honey is a glutinous food substance mainly manufactured by bees same related insects. The pharmaceutical uses honey for the antioxidant and severe relied on cough and is also used as a natural remedy for mild allergies. The technological advancements have led to innovation in processing technology to raise the productivity of honey is expected to operate production equipment in different industries. As customers are becoming more aware of health, the demand for natural sweeteners is increasing, fueling profitable growth opportunities for market participants in the food and beverages market. Monofloral honey demand is increasing in Egypt due to its distinctive flavor. There is a large investment in research and development programs to create flavors like jamun, neem, coffee, lychee, tulsi, ginger, and forest honey.

Honey is widely emerging as a preferred option for people with the diseases like nausea, dizziness, headaches, digestive problems, and many others. Food and beverages have a wide application of honey as it works as a sweetener in this dish. Honey also assists in boosting the human immune system because of its anti-viral, anti-bacterial, and anti-fungal properties. The demand for honey is also increasing because of extensive utilization in manufacturing other end products like cosmetics, personal care products, and desserts. Honey is a natural product with zero side effects, making it more popular among consumers. Thus, driving the Egypt Honey market revenue.

However, the sugar profile of honey tends to grow consumer doubt in the worldwide honey industry. Diabetic patients have limited effectiveness of honey during the treatment of open sores. There is a great impact of the changing climate on the production of honey as they greatly depend on flowering plants.

Egypt Honey Market Segment Insights

Egypt Honey Type Insights

The Egypt Honey market segmentation, based on type, includes Wildflower, Acacia, Clover, Buckwheat, and Alfalfa. The acacia segment dominated the market and accounts for the largest of market revenue. Acacia is one of the most famous honey varieties, which is identified as clear and light honey. The honey takes its gentle floral taste from the nectar of blossoms of the Robinia pseudo acacia, also named as Black Locust. The buckwheat honey segment is expected to be the fastest-growing segment as this honey are high in antioxidants, less sweet, and is largely utilized in pharmaceutical products because of its medicinal benefits.

Egypt Honey Application Insights

The Egypt Honey market segmentation, based on application, includes Cosmetics, Food & Beverages, Pharmaceuticals, and Others. The food & beverages segment dominates the market. In food & beverages, honey is utilized widely as a sweetener and additive and is also directly consumed. There are various kinds of sweeteners that are used in manufacturing beverages and confectionery products. Furthermore, honey is used in making cough syrups and liquid supplements in the pharmaceutical industry. In the cosmetics segment, the manufacturing of moisturizers, face-wash, soaps, creams, and others uses honey.

Figure 1: Egypt Honey Market, by Application, 2022 & 2032 (USD Billion)

Egypt Honey Market, by Application, 2022 & 2032

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Egypt Honey Regional Insights

One of the primary reasons favourably affecting the market in Egypt is the increased prevalence of chronic medical conditions including heart disease, diabetes, and cancer. Additionally, the rising demand for goods that improve health and immunity is providing producers with profitable expansion options. The country's honey sales are rising as a result of the expanding use of honey in natural medicines. Furthermore, honey is employed in the formulation of pharmaceuticals for the treatment of cough and acute throat infections due to its antiviral, antifungal, and antibacterial properties, which is fueling market expansion.

Egypt Honey Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Egypt Honey market grow even more. Market participants are also undertaking a various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Egypt Honey industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Egypt Honey industry to benefit clients and increase the market sector. In recent years, the Egypt Honey industry has offered some of the most significant advantages to the food and beverages industry. Major players in the Egypt Honey market, including Ahla Honey, Mudga Agriculture & Food Products suppliers, Dabur Egypt Ltd., Elanda Bee, Mahmoud Gomaa Abd El Galil Co, El Rashidi El Mizan Confectionery, and others, are attempting to increase market demand by investing in research and development operations.

Robert Atkins formed Atkins Nutritionals, Inc. to promote the Atkins diet's low-carbohydrate packaged meals. It is now a subsidiary of The Simply Good Foods Company. Low-carbohydrate bars shakes, and snacks are available from the company. Atkins Nutritionals, Inc. was formed in 1989 as Complementary Formulations. In 1998, the company was renamed Atkins Nutritionals. It was created to enhance the Atkins diet. Atkins created the plan after reading a research paper of the Journal of the American Medical Association. Alfred W. Pennington published the paper "Weight Reduction" in 1958. Atkins used the study's findings to help him overcome his own obesity. In May 2019, A partnership agreement between Atkins and CHEF'D was signed. Our collaboration sought to create a low-carb meal solution for consumers concerned about their health and lifestyle.

Brunswick Corporation, formerly called the Brunswick-Balke-Collender Company, is an American firm founded in 1845 that has been inventing, manufacturing, and distributing a wide range of products. Brunswick now employs over 13,000 people in 24 countries. Among the various boating brands owned by Brunswick are Sea Ray, Boston Whaler, Bayliner, Mercury Marine, Attwood, Lund, Crestliner, Mastervolt, MotorGuide, Harris Pontoons, Freedom Boat Club, Princecraft, Heyday, Lowe, Uttern, Quicksilver, CZone. In June 2019, A partnership agreement was inked between BRUNSWICK Company and VIR Zoom to launch a product called VIR Zoom solution. This collaboration, if correctly executed, was expected to transform Life Fitness' se3 explore bikes into a virtual reality experience.

Key Companies in the Egypt Honey market include

Egypt Honey Industry Developments

March 2022: KaraMD announced Pure Health Apple Cider Vinegar Gummies, a vegan gummy aimed to aid ketosis, digestion regulation, weight management, and encourage greater levels of energy.

January 2022: Solace Nutrition, a US-based medical nutrition company, bought R-Kane Nutritionals' assets for an unknown sum. This asset acquisition enables Solace Nutrition to develop synergy between both brands, accelerate growth, and establish a position in an adjacent nutrition sector. R-Kane Nutritionals is a firm established in the United States that specializes in high-protein meal replacement products for weight loss.

February 2021: Hydroxycut's newest creation, CUT Energy, a delectable clean energy drink, was released. This powerful mix was carefully formulated for regular energy drink consumers, exercise enthusiasts, and dieters looking to lose weight.

Egypt Honey Market Segmentation

Egypt Honey Type Outlook

  • Wildflower

  • Acacia

  • Clover

  • Buckwheat

  • Alfalfa

Egypt Honey Application Outlook

  • Cosmetics

  • Food & Beverages

  • Pharmaceuticals

  • Others

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