The global dried honey market is expected to grow from USD 731.02 million in 2021 to USD 1474.76 million by 2030, at a CAGR of 8.11% during the forecast period 2022-2030.
Dried honey is a type of artificial sweetener made from conventional sweeteners. It is used in various drinks and is considered suitable for a healthy diet. Dried honey is used in carbonated beverages, sports drinks, cereal, dairy food, baked goods, nutrition bars, skin care products, pharmaceutical drugs, etc. There are several benefits of consuming dried honey, which makes it healthier than other types of sweeteners. It is low in calories and thus is even used in sugar-free beverages and foods. It provides the same level of sweetness but is a better alternative in terms of health as the carbohydrate content of the product is much lower. Also, dried honey can be easily combined with different starch and sweeteners to provide additional sweetness to cake and pastries. It gets dissolved in the mouth quickly owing to the texture. It even includes color and a pleasant aroma to baked products. The product's flavor remains intact for a more extended period as it does not hydrolyze like conventional honey.
Dessert foods are increasingly consumed in between the traditional meal patterns of breakfast, lunch, and dinner in Western food culture. There has recently been a surge in interest in a fitness regime, and data suggest that organic product sales have increased. Companies involved in the dried honey market are expanding the reach of their services to tap into more consumer base. Further, on the demand side, the prevalence of several chronic diseases and the growing incidence of the pandemic has resulted in the lucrative growth of the dried honey market. This can be attributed to dried honey's antifungal, antibacterial, and antiviral properties. The market has witnessed a surge in demand, especially after the Covid-19 pandemic, as there was a massive surge in ingredients boosting immunity.
Key players operating in the global dried honey market are Specialty Products and Technology Inc., British Honey, Best Ground International, The Archer Daniels Midland Company, Bio Botanica, Inc., Domino Specialty Ingredients (ASR Group), Spice Jungle, LLC, Haldin Pacific Semesta, Ohly (ABF Ingredients), Maple Leaf Garden Food Co., Hoosier Hill Farm, Island Abbey Foods Ltd., Natural Sourcing LLC, Wuhu Deli Foods Co., Ltd. among others. To enhance their market position in the global dried honey market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
The organic segment should grow at the highest CAGR forecast period.
The category segment is divided into conventional and organic. The organic segment should grow at the highest CAGR forecast period. Organic dried honey is gaining more popularity among consumers, especially those following a calorie deficit diet. Organic dried honey is rich in antioxidants and is thus preferred in preparing diet bakery products.
The powder segment held the highest share of around 65.02% and a market value of USD 475.30 million in 2021.
The form type segment is divided into granular and powder. The powder segment held the highest share of around 65.02% and a market value of USD 475.30 million in 2021. Powdered dried honey is famous in most countries, especially North America and Europe. Further, powdered dried honey's texture makes it suitable for skincare products such as moisturizers and body lotions. It is even preferred in the manufacturing of pharmaceutical drugs and syrups.
The personal care and cosmetics segment should grow at the highest CAGR forecast period.
The application segment is divided into pharmaceuticals, food and beverages, personal care, and cosmetics. The pharmaceuticals segment further consists of supplements, ointments, and medicines. The food and beverages segment includes confectioneries and bakeries, coffee, tea, juice, frozen desserts, and others. The personal care and cosmetics segment is anticipated to grow at the highest CAGR forecast period. Numerous skincare products have surfaced in recent years in the dried honey market. Dried honey is beneficial for skin and hair as it improves elasticity and is an effective moisturizing agent. Several products include anti-aging creams, moisturizers, face masks, scrubs, shampoo, hair masks, conditioners, etc.
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The online segment should grow at the highest CAGR forecast period.
The sales channel segment is divided into specialty stores, supermarkets and hypermarkets, retail stores, and online. The online segment should grow at the highest CAGR forecast period. There are several businesses to business and business-to-consumer online sales channels that offer several types of dried honey. Consumers can opt for online purchasing at their convenience and choose from various brand options.
Regional Segment Analysis of the Dried Honey Market
Among all regions, the North American region emerged as the largest market for the global market, with a market share of 34.17% in the year 2021. Among the regions, North America will gain tremendous market share due to numerous leading global manufacturers, with companies increasing their manufacturing potential. The high concentration of food, beverages, pharmaceutical, and cosmetics industries in the three regions significantly contributes to market growth. Consumers in the North American region are more inclined to adopt a healthy lifestyle by consuming food products with lower calories, which has propelled the market growth of dried honey. The prevalence of diabetes has increased in the region, which has forced many consumers to opt for organic dried honey. Further, the players engaged in dried honey are adopting several strategies to expand their presence across digital channels.
About the report:
The global dried honey market is analyzed based on value (USD Million). All the segments have been analyzed globally, nationally, and country. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, and distribution and marketing channels analysis.
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