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Dried Honey Market 2021 Size, Share, Current Trends, Growth Analysis and Plans, Investment and Forecast to 2028

05-23-2023 10:16 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Premium Market Insights

Dried Honey Market

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.

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The List of Companies -
1. Best Ground International
2. ASR Group
3. Hoosier Hill Farm
4. Associated British Foods Plc.
5. Specialty Products and Technology, Inc
6. Spice Jungle
7. SWEET HARVEST FOODS
8. THE ARCHER DANIELS MIDLAND COMPANY
9. Hangzhou Youither Bioscience Co. Ltd.
10. Norevo GmbH

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.

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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.

Impact of COVID-19 Pandemic on Dried Honey Market
Various industries have been negatively impacted by the COVID-19 pandemic, primarily due to lockdowns, travel bans, manufacturing shutdowns, and supply shortages. The food and beverage industry, in particular, has faced operational difficulties due to supply chain disruptions and shortages in labor and raw materials. However, with the introduction of relaxation in social restrictions and accelerated vaccination drives by governments worldwide, the industry is gradually recovering from its losses. Furthermore, an increased interest in healthy and immunity-boosting food and beverages during the COVID-19 outbreak has led to the growth of the dried honey market.

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TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection
3.2.2 Primary Interviews
3.2.3 Hypothesis Formulation
3.2.4 Macro-economic Factor Analysis
3.2.5 Developing Base Number
3.2.6 Data Triangulation
3.2.7 Country Level Data
4. Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Value Chain Analysis
4.3.1 Raw Material
4.3.2 Manufacturing/Processing
4.3.3 Packaging
4.4 Expert Opinion
5. Key Market Dynamics
Continued…

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