Newark, Oct. 10, 2022 (GLOBE NEWSWIRE) — According to report published by The Brainy Insights, the global dried honey market is expected to grow from USD 731.02 million in 2021 to USD 1,474.76 million by 2030, with a CAGR of 8.11% over the forecast period 2022-2030.
Dried honey is a type of artificial sweetener made from conventional sweeteners. It is used in various beverages and is considered suitable for healthy eating. Dried honey is used in soft drinks, sports drinks, cereals, dairy products, baked goods, nutritional bars, skin care products, pharmaceutical drugs, etc. Consuming dried honey has several benefits, making it healthier than other types of sweeteners. It is low in calories and is therefore even used in sugar-free drinks and foods. It offers the same level of sweetness but is a healthier alternative as the carbohydrate content of the product is much lower.
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Additionally, dried honey can be easily combined with different starches and sweeteners to add extra sweetness to cakes and pastries. It dissolves quickly in the mouth due to its texture. It even adds color and a pleasant aroma to baked goods. The flavor of the product remains intact for a longer period because it does not hydrolyze like conventional honey.
Desserts are increasingly eaten between the traditional meal patterns of breakfast, lunch, and dinner in Western food culture. There has recently been a resurgence of interest in a fitness regimen, and data suggests that sales of organic products have increased. Companies involved in the dried honey market are expanding their service reach to tap into a larger consumer base. Additionally, on the demand side, the prevalence of several chronic diseases and increasing incidence of the pandemic has driven the lucrative growth of the dried honey market. This can be attributed to the antifungal, antibacterial and antiviral properties of dried honey. The market has seen a surge in demand, especially after the Covid-19 pandemic, as there has been a massive increase in immunity-boosting ingredients.
The major 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 strengthen their position in the global dried honey market, the major players are now focusing on adopting strategies such as product innovations, mergers and acquisitions, recent developments, joint ventures, collaborations, and partnerships.
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The organic segment is expected to grow at the highest CAGR forecast period.
The category segment is divided into conventional and organic. The organic segment is expected to grow at the highest CAGR forecast period. Organic dried honey is gaining popularity with consumers, especially those on low calorie diets. Organic dried honey is rich in antioxidants and is therefore preferred in the preparation of dietary baked goods.
The powders segment held the highest share of approximately 65.02% and a market value of USD 475.30 million in 2021.
The shape type segment is divided into granular and powder. The powder segment held the highest share of approximately 65.02% and a market value of USD 475.30 million in 2021. Powdered dried honey is famous in most countries, especially in North America and in Europe. Additionally, the texture of powdered dried honey makes it suitable for skin care products such as moisturizers and body lotions. It is even preferred in the manufacture of pharmaceutical drugs and syrups.
The personal care and cosmetics segment is expected to grow at the forecast period of the highest CAGR.
The applications segment is divided into pharmaceuticals, food and beverages, personal care and cosmetics. The Pharmaceuticals segment further includes supplements, ointments and drugs. The food and beverage segment includes confectionery and bakery, coffee, tea, juice, frozen dessert and others. The personal care and cosmetics segment is expected to grow during the forecast period with the highest CAGR. Many skincare products have appeared on the dried honey market in recent years. 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, shampoos, hair masks, conditioners, and more.
The online segment is expected to grow at the forecast period of the highest CAGR.
The sales channel segment is divided into specialty stores, supermarkets and hypermarkets, retail stores and online. The online segment is expected to grow at the forecast period of the highest CAGR. There are several business-to-business and business-to-consumer online sales channels that offer several types of dried honey. Consumers can opt for online shopping at their convenience and choose from various branded options.
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Regional Segment Analysis of Dried Honey Market
• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, rest of APAC)
• South America (Brazil and rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the North America region has become the largest market in the global market, with a market share of 34.17% in 2021. Among the regions, North America will gain considerable market share thanks to many leading global manufacturers, with companies increasing their manufacturing potential. The high concentration of food, beverage, pharmaceutical and cosmetic industries in the three regions contributes significantly to the growth of the market. Consumers in the North American region are more inclined to lead a healthy lifestyle by consuming low-calorie food products, which has propelled the growth of the dried honey market. The prevalence of diabetes has increased in the region, which has forced many consumers to opt for organic dried honey. Moreover, dried honey players are adopting several strategies to expand their presence on digital channels.
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About the report:
The global dried honey market is analyzed on the basis of value (USD million). All segments have been analyzed globally, nationally and nationally. The study includes analysis of more than 30 countries for each segment. The report offers an in-depth analysis of the drivers, opportunities, restraints and challenges to obtain key market insights. The study includes Porter’s Five Forces Model, Attractiveness Analysis, Commodity Analysis, Supply and Demand Analysis, Competitor Position Grid Analysis and analysis of distribution and marketing channels.
About The Brainy Insights:
The Brainy Insights is a market research company that provides businesses with actionable insights through data analytics to improve their business acumen. They have a robust forecasting and estimating model to achieve the client’s goals of high quality production in a short period of time. They provide both custom (customer specific) and syndicated reports. Their repository of union reports is diverse across all categories and subcategories of domains. Their customized solutions meet the client’s requirements, whether they are looking to expand or planning to launch a new product in the global market.
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