Manuka Honey Market

Manuka Honey Market Size

Manuka Honey Market size was USD 0.52 billion in 2021 and projected to grow from USD 0.6 billion in 2023 to USD 1.0 billion by 2032, exhibiting a CAGR of 6.4% during the forecast period.

Manuka honey is the monofloral honey generated from the manuka tree’s nectar. The manuka tree originates to some areas of Australia and also New Zealand, but is presently produced on the global scale. It holds a strong and earthy smell, flavor, and is used as a substitute of sugar. Manuka honey is fairly bitter flavored due to the significant amount of methylglyoxal compounds.

Market Highlights

Manuka Honey Market is expected to project a CAGR of 6.4% during the forecast period, 2022-2032

Manuka Honey Market is expected to reach USD 1.0 billion, growing at a CAGR of 6.4% during the forecast period owing to the numerous health benefits of manuka honey, which include its capacity to promote better digestion, ease sore throats, cure acne, and shield for gastric ulcers. Also, since more people are becoming aware of the benefits of manuka honey, the product purchase is expected to increase, which will drive the market growth over the estimated period.

Manuka Honey Market Segmentation

UMF 15+/MGO 514 mg/kg (ppm) segment is expected to dominate in the forecast period

Manuka Honey Market is classified based on the Type into UMF 5+/MGO 83 mg/kg (ppm), UMF 10+/MGO 263 mg/kg (ppm), UMF 15+/MGO 514 mg/kg (ppm), and UMF 20+/MGO 829 mg/kg (ppm). The UMF 15+/MGO 514 mg/kg (ppm) manuka honey category is projected to lead over the forecast period due to its purity and since it holds high-quality potency. The UMF 15+ has a noticeably dark hue and a lovely herbal flavor owing to the high amount of UMF in manuka concentrate. Presently, producers offer manuka honey (UMF 15), which is entirely unsterilized and devoid of any genetically engineered components.

Online Stores segment is expected to dominate in the forecast period

Manuka Honey Market is classified based on the Distribution Channel into Supermarkets/Hypermarkets, Convenience Stores, Online Stores, and Others. The Supermarkets/Hypermarkets category held maximum share of the market owing to the majority footfall players at these places, especially from the middle-class buyers. However, the online category is anticipated to hold major CAGR over the forecast period owing to the availability of various manuka honey products on e-commerce portals. Online shopping is preferred nowadays than going to supermarket or specialty stores to shop as it saves a lot of time of consumer.

Market Dynamics                                                   

Growth Drivers

Several Health Benefits Associated with Manuka Honey is Expected to Boost the Market Growth

Manuka honey provides a wide range of health advantages, including relieving digestive symptoms, reducing gastric ulcers, supporting oral health, curing acne, and many others. These advantages draw clients, so raising demand and aiding market growth. Manuka honey is one form of natural honey that is in higher demand and consumption, increasing production and ultimately leading to market growth throughout the estimated period.

Increasing Use of Manuka Honey in Cosmetics Industry is Expected to Boost the Market Growth

Manuka honey is utilized extensively in the cosmetics business in addition to in the food and pharmaceutical industries. The growing demand for beauty goods has significantly increased due to expanding economies and a huge rise in disposable income. Due to the increase in demand for natural and herbal components, a significant opportunity has been established for the market. Hence, the Manuka Honey Market is driven by a change in consumer behavior as well as an increase in the demand for natural foods and cosmetics.

Restraint

High Price of Manuka Honey May Restrain the Market Growth

The high cost of manuka honey produced locally is one of the main reasons limiting the expansion of the Manuka Honey Market. With the rise of the product demand, the regional barriers to the manufacture of high-quality goods are progressively eliminated. To satisfy the increasing demand for superior product quality from specific audiences, the Manuka Honey Market needs to engage more significant players in various regions.

Recent Developments

• Manuka Health teamed up with Trust Codes and Oritain in January 2021 with the aim of safeguarding Manuka Honey from beekeepers to jars.
• COMVITA revealed its new Manuka Honey with UMF (25+) in March 2021. The corporation declared it to be both precious and uncommon.
• A new raw, Himalayan multiflora honey (unprocessed) was introduced in May 2021 by Conscious Food, an Indian company that was a pioneer in the development of organic food products. This honey is fully unfiltered and unpasteurized and retains all of honey's natural benefits as it travels "from bee to bottle."

Manuka Honey Market

Key Players Covered:

• Midland Holdings
• Comvita Limited
• OHA Honey
• Capilano Honey Ltd.
• GO Healthy New Zealand Ltd.
• Nature's Gold
• Manuka Health New Zealand
• Arataki Honey
• Mossops Honey
• Australia's Manuka
• Simply Honey
• Barnes Natural
• New Zealand Honey Co.
• Pure New Zealand Honey
• Watson And Sons
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Manuka Honey Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America region will rule the market over the next years due to the increased demand for a variety of snacks among both children and adults as well as the growing intake of nutrient-enriched food items. Currently, it's usual to use manuka honey in the making of snack bars. The demand by consumer for natural foods has increased due to consumers' increased focus on maintaining their health and managing their weight.

Impact of Covid-19 on Manuka Honey Market

Numerous processing facilities were shut down due to COVID-19 lockdown, which had a big impact on the production of different food products. During the epidemic, the demand for products that improve immunity has grown. Since honey has antibacterial, antiviral, and antifungal qualities, people have begun to consider it as a reliable remedy for cough and throat infections. Following the reopening of manufacturing and processing facilities, beekeepers were compelled to exert more effort to restore the broken supply chain.

Manuka Honey Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Manuka Honey Market Scope and Segments:

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