dried honey Market

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 extensively used as a sweetener in food items and beverages like confectioneries, bakery products, fruit juices, frozen desserts, tea, and coffee. This product is available in either granulated or powdered form. Its popularity as a natural sweetener is increasing due to its lower calorie content than refined sugar and rich, sweet flavor that it imparts to food and beverages. Dried honey is preferred as it can be conveniently transported and stored compared to liquid honey. It can be blended with different formulations without affecting the desired texture of the final product. Furthermore, it is used to produce several natural personal care items.

The dried honey market is categorized by application into three segments- food & beverage, personal care, and pharmaceuticals and nutraceutical. In 2020, the food & beverage segment held the largest market share. However, the pharmaceuticals and nutraceuticals segment is anticipated to register the highest CAGR during the forecast period. Dried honey is a sweetener or flavoring agent in various food and beverage products, including bakery items such as cakes, muffins, pastries, cookie mixes, and donuts. Its moisture retention properties help to extend the shelf life of these products. Dried honey is also used as a substitute for sugar in hot and cold beverages like teas, coffees, smoothies, and lemonades. The rising consumption of bakery products, ice cream, and desserts is expected to drive the growth of the food & beverages segment.

The dried honey market is classified based on geography into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America (SAM). In 2020, Asia-Pacific, one of the major honey producers, held the largest market share, with China and India leading the pack. Dried honey is widely used in the region's food and beverages industry as a sweetening agent. It is also gaining popularity in beauty and wellness due to the rising demand for natural, organic, and clean beauty products. Baidu, a Chinese search engine, has shown an increase in searches for natural and organic components. Dried honey is a natural ingredient in personal care products like moisturizers, lip balms, soaps, body lotions, and anti-aging creams. As a result, the expanding personal care industry and the increasing demand for natural and organic beauty products are driving the growth of the dried honey market in the Asia-Pacific region.

The leading players in the dried honey market are 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.

Primary and secondary sources were utilized to determine the magnitude of the dried honey market worldwide. The research commenced with comprehensive secondary research, which encompassed internal and external sources to procure both qualitative and quantitative data pertaining to the market. In addition, a series of primary interviews were conducted with industry stakeholders to validate the information and gather further analytical insights on the subject. The participants involved in this process consisted of industry experts, including VPs, business development managers, market intelligence managers, national sales managers, as well as external consultants, such as valuation experts, research analysts, and key opinion leaders, who specialize in the dried honey market.