The global pine honey market is expected to post a CAGR of over 5% during the period 2019–2023, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increasing demand for monofloral honey. Monofloral honey is a type of honey made from a single source such as acacia, pine, orange, lime, sunflower, and eucalyptus. Monofloral honey is considered to provide more health benefits as compared to multifloral honey. Although it takes longer to produce monofloral honey, it retains all the vitamins and minerals from the source. The demand for monofloral honey is increasing in countries such as the US, the UK, Germany, and France. Moreover, pine honey has several characteristics that are desirable in monofloral honey. For instance, pine honey has no incisive taste or aroma, has a Iower tendency to crystallize, is very thick, stores well, and is produced from pine forests far away from any environmental pollution. Such benefits will boost the demand for monofloral pine honey among consumers leading to the growth of the global pine honey market during the forecast period.
As per Technavio, the increasing awareness about gluten-free food products will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global pine honey market 2019–2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019–2023.
Global Pine Honey Market: Increasing Awareness About Gluten-Free Food Products
The increasing awareness about gluten and celiac disease among consumers has increased the demand for non-gluten or gluten-free products. Pine honey is naturally gluten-free, which can positively influence the growth of the market during the forecast period. Apart from celiac disease, gluten sensitivity is found to promote digestive issues, inflammation in the small intestine, and attention deficit hyperactivity disorder (ADHD). It can also mitigate heathy brain function. Currently, there is no cure for this disease, and the only way one can avoid it is to switch to a gluten-free diet. Thus, the increased preference for gluten-free food products is expected to support the growth of the global pine honey market during the forecast period.
“Currently, health-conscious consumers prefer food products and ingredients that do not lead to health issues. Plant-based food products are gaining popularity among health-conscious consumers globally, owing to increasing health and food safety concerns associated with animal-based food products. Thus, such factors are expected to increase the demand for plant-based food products, which will fuel the demand for pine honey during the forecast period,” says a senior analyst at Technavio.
Global Pine Honey Market: Segmentation Analysis
This market research report segments the global pine honey market by product (conventional pine honey and organic pine honey) and geographical regions (Europe, APAC, North America, MEA, and South America).
The European region led the market in 2018, followed by APAC, North America, MEA, and South America respectively. During the forecast period, the European region is expected to maintain its dominance over the global market and register the highest incremental growth due to the rising demand for natural food products and ingredients among consumers in the region.
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