Dried Honey System Market Set for Rapid Growth by 2028
The “Dried Honey Market” is projected to reach US$ 1,253.44 million by 2028 from US$ 723.18 million in 2021. It is expected to grow at a CAGR of 8.2% from 2021 to 2028.
Dried honey is widely used as a sweetening agent in various food products and beverages, such as bakery products, confectioneries, frozen desserts, tea, coffee, and fruit juices. It is offered in either powdered or granulated form. It is gaining huge traction as a natural sweetener due to its lower calorific value than refined sugar; it adds a rich sweet flavor to foods and beverages. Moreover, it can be transported and stored more conveniently than liquid honey. It blends easily with different formulations without changing the required texture of the final product. Dried honey is also used for manufacturing various natural personal care products.
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Companies Profiled in this report includes:
· Best Ground International
· ASR Group
· Hoosier Hill Farm
· Associated British Foods Plc.
· Specialty Products and Technology, Inc
· Spice Jungle
· SWEET HARVEST FOODS
· THE ARCHER DANIELS MIDLAND COMPANY
· Hangzhou Youither Bioscience Co. Ltd.
· Norevo GmbH
Based on geography, the dried honey market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America (SAM). In 2020, Asia-Pacific held the largest share of the market. China and India are among the largest producers of honey. Dried honey is one of the popular sweeteners used across the region's food and beverages industry. Moreover, it is widely used in the beauty and wellness sector in Asia-Pacific. The majority of customers in the region prefer using natural, organic, and clean beauty products. For instance, natural and organic components searches are increasing on Baidu, which is a Chinese search engine. Dried honey is one of the effective natural ingredients used in a variety of personal care products such as moisturizers, body lotions, lip balms, soaps, and anti-aging creams. Therefore, the rapid growth of the personal care industry, and increasing demand for natural and organic beauty products are the factors driving the dried honey market growth in Asia-Pacific.
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Dried Honey Market Segmentation:
By Form:
· Powder
· Granules
By Category:
· Organic
· Conventional
By Application:
· Food and Beverages
· Personal Care
· Pharmaceuticals and Nutraceuticals
Based on application, the dried honey market is segmented into food & beverage, personal care, and pharmaceuticals and nutraceutical. The food & beverage segment accounted for the largest market share in 2020. The pharmaceuticals and nutraceuticals segment is expected to register the highest CAGR in the market during the forecast period. Dried honey is used in various foodstuffs and beverages as a sweetener or flavoring agent. It is used in bakery products such as cakes, muffins, pastries, cookie mixes, and donuts due to its moisture retention properties which helps extend their shelf lives. It works well as a sugar substitute in hot and cold liquids, including coffees, teas, lemonades, and smoothies. The rising consumption of bakery products, ice cream, and desserts is expected to drive the growth of the market for the food & beverages segment over the forecast period.
The size of the global dried honey market has been derived using primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants-such as valuation experts, research analysts, and key opinion leaders-specializing in the dried honey market.
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