Dried Honey Market Overview and 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 obtained by drying liquid honey and maltodextrin in a spray dryer. It blends very easily in different formulations. Moreover, it is easy to store and transport, therefore, requires low transportation costs. The rising popularity of honey owing to its antimicrobial and healing properties is driving its demand from the personal care and pharmaceuticals industries. Moreover, it is used in various dietary supplements as a natural sweetening agent. Furthermore, owing to the moisture retention properties of dried honey, it is being used in bakery products. It also improves the texture of these products and imparts rich flavor.

Asia-Pacific held the largest share of the global dried honey market in 2020, while the Middle East and Africa is expected to register the highest CAGR during the forecast period. China is one of the largest producers and exporters of honey in the world. Dried honey is also becoming popular owing to its low-calorie content compared to refined sugar and other artificial sweeteners. In the beauty and wellness industry, dried honey has significant applications owing to its antimicrobial and anti-inflammatory properties. The beauty trends are rapidly evolving in the Asia-Pacific Market. Natural skincare routine trends are becoming popular, especially among women in the region. Moreover, the antimicrobial properties and high antioxidant content of honey rejuvenate skin, thereby soothing the skin, making it radiant, and preventing acne formation. The increasing inclusion of honey powder in natural skincare routines is projected to boost the regional market growth during the forecast period.

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Dried Honey Market: Strategic Insights

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Impact of COVID-19 Pandemic on Dried Honey Market

The COVID-19 pandemic has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The dried honey market witnessed a mixed impact of the COVID-19 pandemic. The shutdown of the food and beverages industry disrupted the global supply chains and product manufacturing activities in 2020. In addition, restrictions on movements across country borders made it difficult to transport raw materials, thereby disturbing international trade. However, the demand for dried honey surged after the onset of the COVID-19 pandemic. As studies claim, it helps enhance the immune system when consumed with black pepper. As a result, sales of dried honey products, including honey powder and granules, surged in the last two years. Due to its antiviral, antifungal, and antibacterial properties, honey has received global acceptance as an effective medicine for treating acute throat infections and cough. These factors had positive effects on the growth of the dried honey market.

Market Insights

Increasing Awareness of Benefits of Dried Honey Across Industries Drives Market Growth

Dried honey is used across industries such as food & beverages, personal care, and pharmaceuticals and nutraceuticals. It is used as a preferred natural sweetener in the food & beverages sector due to its low calorific content and antimicrobial properties. Honey powder improves the stability of bakery products by prolonging their shelf life, owing to its moisture retention properties. Moreover, dried honey is employed in personal care products such as moisturizers, anti-aging creams, scrubs, face masks, shampoos, and conditioners. It is used in medicines that treat throat infections, bronchial asthma, constipation, and digestive disorders. It is also present in ointments that help heal wounds, injuries, mouth ulcers, and eczema, owing to its anti-inflammatory properties. Thus, the rising demand for dried honey from various end-use industries fuels the dried honey market growth.

Form Insights

Based on form, the dried honey market is bifurcated into powder and granules. The powder segment accounted for a larger market share in 2020 and is expected to register a higher CAGR in the market during the forecast period. Honey powder is extensively used as a natural sweetening agent in bakery products, desserts, ice-creams, confectioneries, among other products. Owing to its moisture retention properties, it is used in bread, cakes, pastries, muffins, and dry baking mixes. According to a study conducted by Food Research International, honey powder improves the stability of bakery products by prolonging their shelf lives, owing to its moisture retention properties. Moreover, it provides desirable color, aroma, and browning effect in bakery products. Honey powder is also used in personal care products as it blends easily in different formulations. It offers numerous benefits in terms of handling, processing, and new application possibilities.

Category Insights

Based on category, the dried honey market is bifurcated into organic and conventional. The conventional segment accounted for a larger market share in 2020, and the organic segment is expected to register a higher CAGR in the market during the forecast period. Organic honey powder is made by spray drying liquid honey with organic maltodextrin. It is used in applications where soluble honey is required. Organic honey has been independently certified as a product extracted from bee colonies farmed at 5–8 km away from roads, factories, or dwellings. Generally, organic dried honey is more expensive and has better quality than conventional dried honey. Therefore, the demand for organic dried honey is projected to increase substantially during the forecast period, as customers demand premium quality and natural products.

Application Insights

Based on application, the dried honey market is segmented into food & beverage, personal care, and pharmaceuticals & nutraceuticals. The food and beverages segment accounted for the largest market share in 2020, and the pharmaceuticals & nutraceuticals segment is expected to register the highest CAGR in the market during the forecast period. Honey is incorporated in various pharmaceutical and nutraceutical products, such as medicines, supplements, and ointments. It has been in use as an important ingredient in traditional medicines or is combined with topical and oral medications. The dried honey powder is added to lozenges, gummies, and cough drops, and is used in medicated confectionery products for sore throats, such as candies. The antibacterial and anti-inflammatory substances in honey are effective against various infections. It can also help resolve constipation and cramping problems.

 

A few of the players operating in the dried honey market are include Best Ground International; ASR GROUP; Hoosier Hill Farm; Associated British Foods plc; Norevo; Specialty Products and Technology, Inc.; Spice Alliance, LLC; SWEET HARVEST FOODS; and ADM.

Dried Honey Market Regional Insights

The regional trends and factors influencing the Dried Honey Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Dried Honey Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Dried Honey Market Report Scope

Dried Honey Market Players Density: Understanding Its Impact on Business Dynamics

The Dried Honey Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Dried Honey Market are:

1. Best Ground International
2. ASR Group
3. Hoosier Hill Farm
4. Associated British Foods Plc.
5. Specialty Products and Technology, Inc

Disclaimer: The companies listed above are not ranked in any particular order.

 

Report Spotlights

• Progressive industry trends in the dried honey market to help companies develop effective long-term strategies
• Business growth strategies adopted by the dried honey market players in developed and developing countries
• Quantitative analysis of the dried honey market from 2019 to 2028
• Estimation of global demand for dried honey
• Porter's five forces analysis to illustrate the efficacy of buyers and suppliers operating in the dried honey market
• Recent developments to understand the competitive market scenario
• Market trends and outlook as well as factors governing the growth of the dried honey market
• Assistance in the decision-making process by highlighting market strategies that underpin commercial interest
• Size of the dried honey market size at various nodes
• Detailed overview and segmentation of the market, as well as the dried honey industry dynamics
• Size of the dried honey market in various regions with promising growth opportunities