Honey Powder Market Analysis Report, By Distribution Channel, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global honey powder market size was worth USD 1.18 Million in 2018 and it is anticipated to grow with a CAGR of 4.1% over the forecast duration. Honey powder is used to extend the shelf life of various products including pastry, muffins, and bread. Rising use of natural sweeteners and changing consumer preferences toward organic products are attributed to market growth.

Honey in its crystalline form is easy to store and works as an alternative to natural honey. Easy storage makes it a popular choice among consumers, thereby driving the growth of the market. Maltodextrin is mixed with powder in order to make it free-flowing. Crystal honey does not use artificial colors and any other additives. It is available in pure forms and it has a slightly yellow to pale brown color.

Honey in powder form is used as a sweetener in the food industry and as an aromatic substance in the beauty industry. Its uses in baked products are highly popular owing to its ability to improve texture. It also increases crunchiness in snacks and other bakery products. Owing to its solubility, the honey powder can be used with different kinds of beverages as natural sweeteners or as a flavoring agent. All these factors collectively are driving the growth of the market.

Owing to low clumping, the product made with crystal honey is homogenous in nature. Additionally, it can be used with dry spice mixes, condiments, sauces, and other similar products. Consumers can use crystalline honey in place of natural one, however, the humidity level of this product makes it unfavorable to people who are prone to allergies and similar health issues.

Honey powder's ability to improve stability in confectionary products is expected to drive its demand. Moreover, low-calorie count makes it a popular choice among the health-conscious population, which in turn drives its demand. Further, it is used in beauty products and it works as a perfect facemask. It makes the skin soft and provides a glowing appearance. Thus, multiple benefits associated with crystal honey are expected to drive market growth.

Application Insights

Bakery products held the largest market share with over 46% in 2018. The use of honey powder is widespread in bakery products owing to its ability to extend the shelf life of the products along with providing stability. As reported by Food Research International (FRI), the use of crystal honey increases the capacity to hold moisture of bakery products, thus slowing down their staling, which helps in extending the shelf life. Moreover, honey powder plays a crucial role in fermentation, thus, helps in making the bread soft.

The beauty products segment is projected to exhibit a CAGR of 5.0% during the forecast period. Various features such as anti-inflammatory and antioxidant make crystal honey a widely used ingredient. Owing to these characteristics, its use has surged in natural cosmetics manufacturing. Further, the humectant properties of honey help in attracting moisture from hair, thus, making it a vital ingredient to be used in hair care products. Leading players are investing significantly in research and development to unlock the potential use of this natural honey alternative.

Regional Insights

North America held the largest market in 2018 with a market share of over 56%. Owing to the low calories present in the honey, consumers in North America are changing their preferences and opting for natural sweeteners in place of other artificial sweeteners. Crystal honey is cost-effective and can be used as an alternative to white sugar. Moreover, unlike liquid honey, it is non-sticky and ideal for storage. All the aforementioned factors collectively drive the growth of the market in this region.

Asia Pacific is anticipated to grow with a CAGR of 5.9% over the forecast period. Increasing the use of crystal honey in beauty and bakery products is fueling its demand in this region. Countries such as India and China are major exporters of honey. These countries are focusing on increasing production with the help of government support. Increasing the production of honey is further projected to propel market growth in this region.

Countries such as Brazil and Argentina export a significant amount of honey. Growing demand from the beauty industry is likely to supplement the honey production in this region. Further, the growing penetration of several cosmetic players in the Latin American region is estimated to increase the demand for honey.

COVID-19 Impact Insights

The honey powder market has been adversely affected owing to the outbreak of COVID-19. Mostly, honey powder is sold through supermarkets, hypermarkets, and retail stores. However, owing to the imposition of lockdowns in several parts of the world, stores selling honey powder were closed, which, in turn, resulted in low sales of the product. Further, several companies involved in the production of the honey powder were forced to close their operations in the second and third quarters of 2020. However, lockdowns measures have eased and companies have restarted their operations. Online sales have increased in the recent past, however, boosting sales through retail stores anytime soon is estimated to be a major challenge for the market players. Manufacturers should focus on the introduction of cost-effective and quality products to reach the wider consumer base.

Honey Powder Market Share Insights

Owing to the presence of various players, the market is highly competitive. The key players in the market are Woodland Foods, Domino Specialty Ingredients, Archer Daniels Midland Company, Norevo, and others. Increasing awareness among consumers about multiple benefits associated with natural honey products has prompted manufacturers to introduce new products. Key players are investing hugely in research and development to find the different potential applications of honey powder.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global honey powder market report on the basis of application and region:

• Application Outlook (Revenue, USD Million, 2015 - 2025)
    • Bakery Products
    • Beauty Products
    • Others

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • Germany
        • U.K
        • Spain
        • France
    • the Asia Pacific
        • China
    • Central & South America
    • Middle East & Africa