New York, March 17, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Dried Honey Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Form (Powder and Granules), Category (Organic and Conventional), and Application (Food & Beverages, Personal Care, and Pharmaceuticals & Nutraceuticals)”, the global dried honey market growth is driven by the rising demand for natural food additives due to the growing preference for all-natural products, increasing awareness of benefits of dried honey across industries, rising preference for dried honey as natural sweeteners in food products and beverages.
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| Report Coverage | Details |
| Market Size Value in | US$ 723.18 Million in 2021 |
| Market Size Value by | US$ 1,253.44 Million by 2028 |
| Growth rate | CAGR of 8.2% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 150 |
| No. Tables | 83 |
| No. of Charts & Figures | 78 |
| Historical data available | Yes |
| Segments covered | Form, Category,, and Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Dried Honey Market: Competition Landscape and Key Developments
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, among others, are the leading players in the dried honey market. These companies have a widespread global presence, serving a large set of customers across the world. Moreover, many prominent market players have wide product portfolios to cater to the changing consumer demands. For instance, Specialty Products and Technology, Inc. offers dried honey blend, organic dried honey, spray-dried honey, non-GMO dried honey, etc., under its Dried Honey category. Such an extensive product portfolio enhances the strategic position of these companies in the global dried honey market.
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The dried honey market in the Middle East & Africa is expected to grow at the fastest CAGR during the forecast period. The market growth in the region is ascribed to the growing importance of honey as a natural sweetener, increasing preference for low-calorie food, and rising demand from the beauty and personal care industry. The UAE has a well-established food & beverages sector with various multinational companies. People in the country are ready to pay high prices for premium products containing organic and natural ingredients. Moreover, the growing presence of various prominent beauty brands and the increasing demand for dried honey from personal care product manufacturers will boost the growth of the dried honey market in the region during the forecast period.
Surging Demand for Dried Honey in Personal Care Industry Fuels Market Growth:
Consumers nowadays spend more time exploring products and brands compatible with their holistic lifestyle. They want greater accountability from brands in terms of ingredient sourcing, label transparency, and production procedures. Therefore, manufacturers of personal care products are focusing on using natural, clean, and ethically sourced ingredients into their products. Dried honey is one of the most popular natural ingredients used in various skincare and personal care products. Honey is becoming an integral part of skincare regimes as it has anti-inflammatory properties, which help treat active acne. Moreover, it is used in lip balms and lip care products, as it helps heal chapped lips and hydrates them. For instance, TreeActiv, a US-based manufacturer of personal care products, uses honey powder in its face masks and face scrubs. The increasing demand for dried honey from the personal care industry is boosting the dried honey market growth.
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Dried Honey Market: Segmental Overview
Based on form, the dried honey market is segmented into powder and granules. The powder segment held a significant market share in 2020 and is projected to register a higher CAGR during the forecast period. Honey powder is obtained by spray-drying liquid honey and maltodextrin. As honey is hygroscopic in nature, manufacturers use stabilizers, anti-caking agents, and non-hygroscopic sugars to keep the honey powder dry and moisture-free. Being fine in nature, honey powder blends easily in different formulations. Additionally, it is easy to use and store. Honey powder has potential applications in the food and beverages industry. It is used in bakery products owing to its moisture retention properties.
By category, the dried honey market is segmented into organic and conventional. The conventional segment led the market in 2020. Conventional dried honey is cheaper than organic honey. It is used in various foods and beverages, including bakery products, ice creams, 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 & beverage, personal care, and pharmaceuticals and nutraceuticals. The pharmaceuticals and nutraceuticals segment is projected 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 resolve constipation and cramping problems.
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Impact of COVID-19 Pandemic on Dried Honey Market:
Many sectors faced unprecedented challenges due to the outbreak of the COVID-19 and restrictions imposed by governments. The food and beverages sector also faced a decline in profits due to the shutdown of manufacturing units and foodservice outlets, manufacturing difficulties, supply chain disruptions, and labor and raw materials shortages. This factor restrained the growth of the dried honey market. However, due to the sudden impact of the COVID-19 outbreak, the market witnessed a growth in demand for products that provide digestive and immune health. As a result, sales of dried honey products, including honey powder and granules, have surged. Moreover, due to the antiviral, anti-fungal, and antibacterial properties of honey, dried honey received global acceptance as an effective medicine for treating acute throat infections and cough, especially in COVID-19 patients. With the growing vaccination rates and relaxation in government restrictions, the dried honey market is expected to resurge significantly in the coming years.
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