Alfalfa Honey Market Size (2024 – 2030)

In 2023, the Global Alfalfa Honey Market was valued at $1.053 billion, and is projected to reach a market size of $1.48 billion by 2030. Over the forecast period of 2024-2030, market is projected to grow at a CAGR of 5%.

INDUSTRY OVERVIEW

The nectar from alfalfa blooms is collected by honeybees, who then generate alfalfa, honey. Honey bees may pollinate, get nectar from, and produce pollen from the yellow, blue, or purple blooms of these plants. Often confused for a form of wheat or hay, alfalfa is a legume, much like peas or beans. Most of the United States' northern and western regions are where alfalfa is farmed. California, Idaho, and Montana are some of the states that cultivate the most alfalfa. Additionally, Utah, Oregon, Nevada, Wyoming, and Idaho are among the states with the highest concentrations of alfalfa honey. Although it is mostly grown in the northern and western sections of the country, it may also be grown in the southeast. Unfortunately, they frequently experience leaf/root diseases and poor soils in the southeastern regions of America. Alfalfa honey is frequently used as an antiseptic and antibacterial agent because of its high concentrations of flavonoids and antioxidants. Among other wounds, this honey may be applied topically to heal burns and ulcers. As a result of alfalfa honey's ability to absorb water, wounds can be dried up faster while also being protected against the spread of dangerous germs. The enzyme that catalyzes the synthesis of hydrogen peroxide, glucose oxidase, is also present in honey. Particularly in the industrialized markets of Europe, the United States, and Japan, the demand for organic products has significantly expanded in recent years. The expansion of natural products is driven by the high profits connected with organic products and the high demand for them among consumers who care about the environment and their health. The use of an organic product like alfalfa honey in creative health drinks and supplements is quickly becoming one of the most well-liked market trends in many different nations.
COVID-19 IMPACT ON THE ALFALFA HONEY MARKET

Numerous sectors have been damaged by the COVID-19 epidemic as a result of governments' lockdown operations and restrictions on human travel. The manufacturing of numerous food items was considerably impacted in the first months by the shutdown of processing plants/units. Additionally, throughout the lockdown, there were labor shortages, supply chain interruptions, trade restrictions, varying logistics, transportation difficulties, and other issues. The economic situation of the natural sweetener business is projected to improve with the reopening of honey production facilities across various economies and ongoing attempts by beekeepers to rebuild the damaged supply chain. Given that it is seen as a health-improving product, sales of it have increased dramatically in several nations, which has had a surprising impact on businesses' quarterly revenues. For instance, in its first quarterly report published in July 2020, Dabur India Limited revealed that sales of its immunology products Dabur Honitus and Dabur Honey increased by 80% and 60%, respectively. Even after the pandemic, the demand for foods that promote health and immunity is anticipated to remain high, which might raise market revenue. This medicine is becoming accepted more widely throughout areas as a result of its antiviral, antifungal, and antibacterial qualities. When used on individuals who have been exposed to the coronavirus, it is particularly effective at treating acute throat infections and cough. The severe cough brought on by a respiratory tract infection, one of the notable symptoms in patients with COVID-19 illness, has been indicated as a key first line of treatment in the Public Health England (PHE) and the National Institute for Health and Care Excellence (NICE) recommendations.

MARKET DRIVERS: 

Growing demand for natural sweeteners will be a major driver of product growth

Due to its many health benefits, honey is increasingly recommended as the best alternative to regular sugar. To utilize less white/refined sugar, health-conscious customers are adding natural sweetener components to their diet meals (which causes obesity, diabetes, and heart diseases). In addition to having important minerals and vitamins and antibacterial and antioxidant qualities, natural sweeteners are a great alternative to sweeteners. Longer product shelf life and high affordability are additional significant aspects that favorably affect the market growth rate.

Growing product usage in drug production to support market expansion

Alfalfa honey is becoming increasingly well-liked in the pharmaceutical business because it includes a variety of minerals, amino acids, enzymes, and other nutritional components that may have therapeutic effects. Due to the product's antimicrobial qualities and demulcent capabilities, it has become a popular component in cough syrups. This is one of the main variables influencing the expansion of the worldwide market. Honey plays a vital part in the treatment of many diseases and health disorders, including indigestion, sore throat, sleeplessness, skin-related issues, and others. Honey is utilized as one of the main products or ingredients in Ayurveda, a natural system of medicine used in India. The Ayurvedic medicinal system has become more well-known worldwide in the COVID-19 post-pandemic age owing to its success and minimal to no adverse effects in addressing specific medical issues.

MARKET RESTRAINTS:

Growing product adulteration to stagnate market growth

Adulteration and fraud incidences have emerged as one of the market's main problems in recent years, substantially impacting the price of the item and negatively hurting the market's growth and development. It has emerged as the third most targeted food for adulteration after milk and olive oil, according to the U.S. Pharmacopeia's Food Fraud information database (which helps industry and regulators decrease the risk of food adulteration). There aren't enough advantages for good and pure product producers as a result of the large supply of contaminated goods in local and international business sectors. Additionally, it is projected that options like stevia, maple syrup, and others that are on the market may slow the industry's growth.

ALFALFA HONEY MARKET REPORT COVERAGE:

This research report on the Alfalfa Honey Market has been segmented and sub-segmented based on Application, Packaging Type, By Distribution Channel and By Region.

ALFALFA HONEY MARKET– BY APPLICATION

• Food & Beverages
• Personal Care & Cosmetics
• Pharmaceuticals
• Others

Based on the application, the alfalfa honey market is segmented into Food & Beverages, Personal Care & Cosmetics, Pharmaceuticals and Others. The product is taken directly as well as is widely used as an additive and sweetener in the food and beverage industries. To improve the flavor and texture of confectionery, drinks, and other baked goods, this sweetener is used in place of or in conjunction with sugar.

Due to its anti-inflammatory, antibacterial, and other health-improving qualities, the substance is increasingly attracting interest from the pharmaceutical sector, notably for the production of cough syrups and fluid dietary supplement products. In the personal care and cosmetics sector, the use of alfalfa honey in creams, face washes, cleansers, and other products is expanding quickly. The product's capacity to retain skin moisture, producing calming effects on the skin and serving as an anti-ageing agent, is a logical deduction for this development.

ALFALFA HONEY MARKET- BY PACKAGING TYPE

• Glass Jar
• Bottle
• Tub
• Tube
• Others

Based on the distribution channel, the alfalfa honey market is segmented into Glass jars, bottles, tubs, tubes and Others. Among these, the bottle segment dominated the market. Because they are simple to store and provide more convenience than alternative packaging, glass and plastic bottles are the most used packing containers worldwide. Bottles are a great option for customers since they can be built in a variety of sizes and forms and are simple to transport. Customers seeking safe, sanitary, and environmentally responsible packaging strongly choose glass jars. The end-use market for food service is seeing a sharp increase in the utilization of big tubs. As a result, it is projected that the demand for the product would increase in the years to come.

ALFALFA HONEY MARKET- BY DISTRIBUTION CHANNEL

• Hypermarkets & Supermarkets
• Convenience Stores
• Online
• Others

Based on the distribution channel, the alfalfa honey market is segmented into Hypermarkets & Supermarkets, Convenience Stores, Online and Others. With a revenue share of almost 40% in 2021, supermarkets and hypermarkets had the greatest revenue share. A broader consumer base is being drawn in as a result of independent retail giants like Walmart and Costco expanding their market share. Sales through this channel are being driven by consumers' preference to personally inspect these items before purchasing. The largest CAGR, 6.6%, is anticipated for the online distribution channel between 2022 and 2030. Due to a significant change in lifestyles and changes in purchasing habits, consumers are moving from physical to online channels. Online platforms' high levels of convenience, enhanced product visibility, and at-home delivery options are fostering the segment's expansion. Most customers rely on online retailers to guide them through the vast selection of products offered and, occasionally, to provide return and exchange alternatives should they be dissatisfied with the delivered goods. Since these retailers provide greater accountability for total customer service, many market participants choose to sell different kinds of honey, royal jelly, and wax through them.

ALFALFA HONEY MARKET- BY REGION

• North America
• Europe
• The Asia Pacific
• Latin America
• The Middle East
• Africa

By region, the Alfalfa Honey Market is grouped into North America, Europe, Asia Pacific, Latin America, The Middle East and Africa. The main area, Asia Pacific, currently holds a significant market share for honey, and it is anticipated that the region will continue to rule the worldwide market during the projection period. It is projected that rising product production volumes and consumption in nations with big populations and rising per capita incomes would propel the regional market. Natural honey is produced and exported in large quantities around the world, especially in China. 145.89 thousand tons of honey were shipped by China in 2021, the Food and Agriculture Organization of the United Nations (FAO) reports, making it one of the major honey exporters by volume. New Zealand was the top-ranking country in terms of the value of its honey exports in 2021, with a total value of USD 327.15 million. 

The Asia Pacific is anticipated to be followed by Europe in terms of revenue and market share. The demand for the product is increasing across Europe as people become more aware of its health advantages.

The increase of beekeepers in North America the United States and Canada has a favorable effect on the local economy. The United States' two main honey-producing states are North Dakota and South Dakota, and it is the world's largest importer of natural honey (in terms of volume), primarily from Argentina, Brazil, India, and Vietnam. The growing population and per capita wealth in the Middle East and Africa are driving up demand for the commodity in Saudi Arabia, South Africa, and other countries. With 14.21 thousand tons, Saudi Arabia was the world's highest importer of natural honey in 2021.

ALFALFA HONEY MARKET- BY COMPANIES

Some of the major players operating in the Alfalfa Honey Market include:

1. BEE MAID HONEY LIMITED
2. COMVITA LIMITED 
3. CAPILANO HONEY LTD. 
4. DABUR INDIA LTD. 
5. BILLY BEE HONEY PRODUCTS
6. NEW ZEALAND HONEY CO.
7. BARKMAN HONEY LLC 
8. YAMADA BEE COMPANY
9. DUTCH GOLD HONEY INC.
10. GOLDEN ACRES HONEY 

NOTABLE HAPPENING IN THE ALFALFA HONEY MARKET

• ACQUISITION- In January 2022, McKinney-based Nature Nate's Honey Co. was purchased by Sweet Harvest Foods Inc., one of the industry's top producers of honey and other natural sweeteners. Through retail stores around the country, Nature Nate provides consumers with 100% pure, raw, and unfiltered honey.
• PRODUCT LAUNCH- By introducing "Dabur Honey Tasties" in July 2021, Dabur announced its foray into the syrups and spreads market. There are two kinds of this new product available at launch: strawberry and chocolate.