There are differences between the two sweeteners.  However, many bread recipes call for such a small amount of sugar that it doesn’t really matter. So for the most part, substitute away!

Does Your Recipe have a Quarter Cup of Sugar or More?

If your recipe calls for a quarter cup of sugar (four tablespoons) or more, a straight swap might affect the bread.  You’ll want to keep these things in mind:

• Honey is sweeter than sugar.  So reduce the sweetener amount by 1/4.  Say that the recipe calls for four tablespoons of sugar.  Use 3 tablespoons of honey instead.
• Honey is liquid.  Decrease the amount of liquid in the recipe by about 1 tablespoon per quarter cup of honey.  Another way of dealing with this issue is to add about 1 tablespoon of flour per quarter cup of honey.