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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Honey Powder Market Size
The global honey powder market reached a value of about USD 1.13 billion in 2023, with the honey production standing at 1,860 thousand tons in the same year. The market is being driven by the rising demand for low-calorie food ingredients. The market is expected to grow at a CAGR of 4.60% during the forecast period of 2024-2032 to reach a value of USD 1.69 billion by 2032.
North America and European Regions to Significantly Contribute to the Honey Powder Demand
North America and Europe are some of the leading regions for the industry. The regional markets are being driven by the increase in ailments with a rise in the intake of daily calories per person. Markets like North America have seen a considerable increase in the demand for honey powder as more and more people are shifting to low-calorie substitutes for their daily meals. Increased awareness of ailments like obesity and heart diseases is driving the market forward. Furthermore, the Asia Pacific is also likely to see an increase in honey powder demand, owing to its use in beauty care and bakery industries. As a low-cost alternative to traditional sugar, honey powder is making its way into these markets very rapidly, facilitated by the huge production volumes in India and China.
Honey Powder Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global honey powder market attained a value of nearly USD 1.13 billion.
The market is projected to grow at a CAGR of 4.60% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-32 to reach about USD 1.69 billion by 2032.
The major drivers of the industry, such as changing lifestyles, rising demand from the bakery segment, growing health awareness, the product's lower cost, and the rising adoption of low-calorie food, are expected to aid the market growth.
The key trends driving the growth of the industry include the increasing demand for the product in the personal care industry and the growing demand for organic ingredients in the food and beverage and cosmetics industries.
The major regions in the industry are North America, Europe, Asia Pacific, Latin America and the Middle East and Africa.
The leading product types in the industry are organic and conventional.
The major process types in the industry are spray dry, drum/roller dry, and vacuum dry.
Direct sales and indirect sales are the leading distribution channels for the product.
The major application sectors in the industry are food and beverage and personal care and cosmetics, among others.
The major players in the industry are Archer Daniels Midland Company, Norevo GmbH, T&L Sugars Limited, B Natural srl, ASR Group International Inc., and AmTech Ingredients, among others.
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