New York, March 17, 2022 (GLOBE NEWSWIRE) — The Insight Partners has released the latest research study on “Dried honey market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Form (Powder and Granules), Category (Organic and Conventional) and Application (Food and Beverages, Personal Care, Pharmaceuticals and Nutraceuticals), Global Market Growth dried honey is driven by increasing demand for natural food additives due to growing preference for all-natural products, growing awareness of the benefits of dried honey across all industries, growing preference for dried honey as a natural sweetener in food products and beverages.
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|Market size Value in||US$723.18 million in 2021|
|Market Size Value by||US$1,253.44 million by 2028|
|Rate of growth||CAGR of 8.2% from 2021 to 2028|
|Year of reference||2021|
|Number of pages||150|
|Number of tables||83|
|Number of graphs and figures||78|
|Historical data available||Yes|
|Segments Covered||Form, category and application|
|Regional scope||North America; Europe; Asia Pacific; Latin America; AEM|
|Country scope||United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina|
|Report cover||Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends|
Dried Honey Market: Competition Landscape and Key Developments
best international ground; ASR GROUP; Hoosier Hill Farm; Associated British Foods plc; Norevo; Specialty Products and Technology, Inc.; Spice Alliance, LLC; SWEET HARVEST FOODS; and ADM, among others, are the major players in the dried honey market. These companies have an extensive global presence, serving a wide range of customers around the world. Moreover, many leading players in the market have broad product portfolios to meet changing consumer demands. For example, Specialty Products and Technology, Inc. offers a blend of dried honey, organic dried honey, spray dried honey, non-GMO dried honey, etc., in its Dried Honey category. Such an extensive product portfolio strengthens the strategic position of these companies in the global dried honey market.
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The Middle East and Africa dried honey market is expected to grow at the fastest CAGR during the forecast period. The growth of the market in the region is attributed to the rising importance of honey as a natural sweetener, growing preference for low calorie foods, and increasing demand from the beauty and personal care industry. The UAE has a well-established food and beverage sector with various multinational companies. The people of the country are willing to pay high prices for premium products containing organic and natural ingredients. Additionally, growing presence of various leading beauty brands and growing demand for dried honey from personal care product manufacturers will drive the growth of the dried honey market in the region during the forecast period.
Rising Demand for Dried Honey in Personal Care Industry is Fueling Market Growth:
Consumers these days are spending more time exploring products and brands that are compatible with their holistic lifestyle. They want greater brand accountability in terms of ingredient sourcing, label transparency and production procedures. Therefore, personal care product manufacturers focus on using natural, clean, and ethically sourced ingredients in their products. Dried honey is one of the most popular natural ingredients used in various skin care and personal care products. Honey is becoming an integral part of skincare regimens as it has anti-inflammatory properties, which help treat active acne. Additionally, it is used in lip balms and lip care products as it helps heal chapped lips and moisturizes them. For example, TreeActiv, an American manufacturer of personal care products, uses honey powder in its face masks and scrubs. Rising demand for dried honey from the personal care industry is driving the growth of the dried honey market.
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Dried Honey Market: Segmental Overview
On the basis of form, the dried honey market is segmented into powder and granules. The powders segment held a large market share in 2020 and is expected to register a higher CAGR during the forecast period. Honey powder is obtained by spray drying liquid honey and maltodextrin. Since honey is hygroscopic in nature, manufacturers use stabilizers, anti-caking agents, and non-hygroscopic sugars to keep the honey powder dry and moisture-free. Fine in nature, honey powder blends easily into different formulations. Plus, it’s easy to use and store. Honey powder has potential applications in the food and beverage industry. It is used in baked goods due to its moisture retaining properties.
By category, the dried honey market is segmented into organic and conventional. Conventional segment dominated the market in 2020. Conventional dried honey is cheaper than organic honey. It is used in various foods and beverages, including baked goods, ice cream, yogurt, sauces, and dry baking mixes. Local food manufacturers generally use conventional honey powder due to its affordability and availability.
Based on application, the dried honey market is segmented into food and beverages, personal care, pharmaceuticals, and nutraceuticals. The pharmaceuticals and nutraceuticals segment is expected to register the highest CAGR during the forecast period. Dried honey has healing and antibacterial properties. As a result, it is used in cough syrups, gummies, and cough drops to treat throat infections. It can also help with constipation and cramping issues.
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Impact of the COVID-19 Pandemic on the Dried Honey Market:
Many sectors have faced unprecedented challenges due to the COVID-19 outbreak and government restrictions. The food and beverage sector also faced declining profits due to the closure of manufacturing units and catering outlets, manufacturing difficulties, supply chain disruptions and shortages of labor and raw materials. This factor has been restraining the growth of the dried honey market. However, due to the sudden impact of the COVID-19 outbreak, the market has witnessed a growth in demand for products that ensure digestive and immune health. As a result, sales of dried honey products, including honey powder and granules, have surged. Moreover, due to the antiviral, antifungal and antibacterial properties of honey, dried honey has been accepted worldwide as an effective medicine to treat acute throat infections and cough, especially in patients with COVID- 19. With increasing vaccination rates and easing of government restrictions, the market for dried honey is expected to re-emerge significantly in the coming years.
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