In the U.S., honey consumption has grown significantly, primarily due to its use as a sweetener in packaged food products such as snacks and beverages. The global honey market is assumed to reach $13 bn by 2026. As American regulators crackdown on countries that dump cheap honey into the States, honey prices may climb even higher. According to the market database, the United States International Trade Commission ruled that honey (sweet harvest foods) imports from Argentina, Brazil, India, Ukraine, and Vietnam are hurting American beekeepers.
There is a reasonable indication that raw honey imports from these countries are sold in the United States for less than fair value. In the fall, the Department of Commerce is to impose duties on honey imports from the five countries that are the subject of the investigation.
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Canadian honey exports to the U.S should increase as a result of this ruling. According to the executive director of the Canadian Honey Council, the news is good for Canadian honey producers. It will likely have a short-term effect on U.S producers who export to Canada.
For some time, the American Honey Producers Association has lobbied regulators to take action against honey imports. According to a law firm representing the association, the duties are necessary because cheap honey has depressed domestic prices and made it difficult for beekeepers to earn a living.
Despite expectations that tariffs will benefit American and Canadian beekeepers, there will still be a few snags. According to the market database, Argentina or other countries may attempt to export honey through a third country. Additionally, the United States has intensified its efforts to manage the flow of adulterated honey into North America. The price of honey has to go up if artificial products are diminished and only genuine, real honey is in the market.
According to a new study, American honey contains traces of radioactive fallout from the nuclear tests of the 1950s and 1960s. Cesium-137, the radioactive isotope identified, is below the level considered harmful. Nevertheless, the measured amounts confirm the lingering nature of environmental contaminants in the nuclear age, even after the epilogue of international bomb tests. Market database states that some isotopes can often be present in food sources in trace amounts.
Vegan Honey
Using the market database, it is easy to see why alternatives to industrial-scale egg and dairy production are ethical and environmentally responsible. Nevertheless, there are compelling arguments for seeking alternatives to commercial honey production.
Dr. Aaron Schaller, a molecular biologist, is venturing with Melibio CEO Darko Mandich to grow vegan honey.
Honey prices are rising, while honey bee populations are declining due to viruses, parasites, bacterial, and fungal diseases. Another significant reason for honey bee population to decline is climate change. There is an opportunity to produce a biosynthesized product that is inexpensive and accessible.
Market database states that MeliBio recently filed a provisional patent around the technology but is not yet disclosing the details of its proprietary processes. However, the production according to the company involves plant science, synthetic biology, and precision fermentation. The advantage of animal products made without animals, and the vegan market in the United States has created opportunities for the company.
Blue Road Capital Acquires Sweet Harvest Foods
Private equity firm Blue Road Capital has acquired US honey and natural sweeteners producer, Sweet Harvest Foods. A Peak Rock Capital affiliate has sold Blue Road the Cannon Falls, Minnesota, business for an undisclosed sum. The Blue Road team possesses deep expertise in natural foods and agricultural markets and looks forward to collaborating with them to drive growth and innovation in the natural sweeteners category.
Located in Minnesota, California, and Michigan, Sweet Harvest Foods serves retailers, foodservice outlets, and distributors everywhere. The company offers spreadable, liquid, and powdered honey that is non-GMO, organic, and Fair Trade certified. It also provides private-label products as well as branded products. Among its natural sweeteners are molasses and agave. Natural American Foods acquired the company’s honey division in 2016, which adopted Sweet Harvest Foods the following year. Mr. Duryea, the founding partner of Blue Road, said the investor will work with Sweet Harvest’s management team on add-on opportunities in a large addressable market. The Honey market and its 10-year business outlook can be understood using Global Market Database.
