Honey Powder Market Growth & Trends
The global honey powder market is expected to be valued at USD 1.26 billion by 2030, registering a CAGR of 4.5% from 2024 to 2030. Rising demand for low-calorie food ingredients with long shelf life is anticipated to drive the market.
The bakery segment accounted for the largest market share in 2018, owing to honey powder being a natural sweetener and available at low cost. Moreover, honey is naturally a low-calorie food ingredient and contains many vitamins and minerals. This makes it a great substitute for white sugar. Increasing consumer preference for low-calorie foods to combat diseases like obesity, diabetes, and heart ailments is likely to boost the product demand.
Beauty products segment is anticipated to witness the fastest growth in terms of application of honey powder in near future. Honey in its raw form acts a natural skin cleanser and softener leaving the skin fresh and glowing. These properties are retained in honey powder used in the formulation of soaps, facial masks, and body lotions. Major manufacturers are focusing on various other benefits of honey that can boost the overall production and consumption of the product.
North America held the major market share in terms of revenue in 2018, due to increasing consumer preference for low calorie products. The region accounted for more than half of the global consumption of honey powder. The population in North America is increasingly becoming health conscious and shifting its preference to low-calorie food ingredients to curb obesity and heart ailments. Honey powder being a low-cost alternative to white sugar, has increased the regional demand. Asia Pacific, on the other hand, is expected to expand at a CAGR of 5.9% over the forecast period, due to growing awareness about the benefits of honey. Moreover, many developing countries like China and India are major producers of honey. Increase in production of honey is expected to augment the regional growth over the forecast period.
Honey Powder Market Report Highlights
- Organic type dominated the market and accounted for a share of 73.1% in 2023. This growth was primarily driven by shifting consumer preferences towards natural and organic ingredients, influenced by health and wellness trends.
- Foods and beverages applications accounted for the largest market revenue share of 67.6% in 2023. Aligning with consumer preferences such as minimally processed ingredients and being natural is also a perfect alternative for artificial flavorings and sweeteners.
- The offline distribution channel segment dominated the market in 2023. This trend was propelled by the increasing industrial applications of honey powder and the strong consumer inclination towards purchasing food ingredients through traditional offline channels.
- The North American market dominated in 2023 with a share of 55.77% owing to the rising daily calorie consumption per person and rising rates of diseases, which have increased the demand for honey powder as a substitute for low-calorie and organic meals, which is growing the market significantly in the region.
- The Asia Pacific honey powder market is anticipated to witness the fastest growth with a CAGR of 6.3% from 2024 to 2030.
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Global Honey Powder Market Variables, Trends, & Scope
Chapter 4. Global Honey Powder Market: Type Estimates & Trend Analysis
Chapter 5. Global Honey Powder Market: Application Estimates & Trend Analysis
Chapter 6. Global Honey Powder Market: Distribution Channel Estimates & Trend Analysis
Chapter 7. Global Honey Powder Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
Companies Mentioned
- ADM
- Norevo
- ASR GROUP
- BNatural
- AmTech Ingredients
- Cargill, Incorporated
- Ingredion
- Great American Spice Company
- VedaOils.us
- Deli Foods
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | August 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 930 Million |
| Forecasted Market Value ( USD | $ 1260 Million |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
