Manuka Honey Market Forecast Statistics, Trends, Segmentation Analysis and Forecast to 2027
Market Overview:
Manuka honey is loaded
with high nutritious values and known for its medicinal properties. Its health
benefits include the high levels of antioxidants that boost the immune system
and reduce inflammation.
Manuka honey is a
great source of nutrients such as fructose, glucose, minerals, vitamins,
pollen, and proteins and serves as a natural antioxidant rich in phenolic acids
and flavonoids. The content of natural sugar in manuka honey makes it an
ideal sweetener that can replace table sugar.
Manuka honey also
makes a healthy addition to the diets of elite athletes, wrestlers, cops, and
soldiers. Hence, a line of nutritional products that can meet the needs of all
athletes is prepared with manuka honey such as sport energy gels and sports
hydration + energy powder mix among others. Health benefits offered by manuka
honey have paved its way in the global market.
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The manuka honey
market witnesses a significant rise in the number of players, which, presages
that the market is on the constant increase, meeting the exceeding consumers’
demand.
Assessing the kind of
traction, the market is garnering currently Market Research Future (MRFR), in
its recently published study report asserts that the global manuka honey market
will garner exponential growth by 2023, registering a fabulous CAGR during the
forecast period (2017 to 2023).
Manuka honey is widely
preferred among the health-conscious people. Consumers not only prefer it but
are also completely switching to it as a sweetener. The market has been
witnessing an upsurge in the popularity and growth from the past few years.
This popularity and the increasing sales are some of the key driving forces of
the global manuka honey market.
On the other hand, factors such as the demand and supply gap of the product are impeding the market growth, challenging the market players. Nevertheless, factors such as product innovations and the increasing uses of manuka honey in various personal care products are expected to support the growth of the market.
Global Manuka Honey
Market – Segmentation
MRFR has segmented the
report into four key dynamics for an easy grasp;
By Specialty Food Type: Organic,
Gluten-Free, GMO-Free, and HFCS-Free among others.
By Application: Direct
consumption/Culinary purpose, Bakery & confectionery, Medicinal purpose,
and Personal Care Products among others.
By Distribution
Channel: Hypermarkets
and Supermarkets, Specialty stores, Convenience stores, and E-commerce among
others.
By Regions: Asia Pacific,
North America, Europe, and Rest-of-the-World.
Global Manuka Honey
Market – Regional Analysis
The Asia Pacific
region is estimated to retain its dominance over the global manuka honey market throughout the
forecast period. APAC countries such as Indonesia, China, and India with their
largest production and consumption of the product in the rich traditions of
herbal medicines account for the major contributor to the growth of the
regional market.
Moreover, the rapidly
changing lifestyle of the people influenced by the growing economy in the
region is leading the adoption of a healthy diet and hence, the market growth
of manuka honey in the region.
The manuka honey
market in Europe accounts for the second leading market, globally. In the
European region, favorable instructions have steadied the consumption volume of
manuka honey, which fell meaningfully over the past couple of years.
The region also
accounts for the major exporter of the product and these brands are gaining
significant importance in the major international markets. Increased sales have
empowered producers to economize out complete sales growth.
North America manuka
honey market is expected to emerge as a promising market growing at a
phenomenal CAGR from 2017 -2023. Factors boosting the market growth in the
region include high per capita income and the presence of a well-established
sports industry among others. Export of manuka honey in the well-developed
countries is found to be on the rise at a steady growth rate. Latin American
countries offer substantial opportunities for expansion to major players.
Global Manuka Honey
Market – Competitive Analysis
The highly
competitive, manuka honey market appears to be fragmented characterized by the
several small and large-scale companies operating the market. Well-established
players incorporate strategic initiatives such as acquisition, partnership,
collaboration, expansion, and product launch to gain a competitive edge and to
maintain their positions in the market. The market is expected to witness
a fierce competition due to the expected extensions in product and product
innovations.
Market players are
being innovative in their marketing strategies such as product launches.
They are also trying out the latest trends of attractive packaging materials
such as glass bottle and PET jars as an alternative to glass. Makers of these
packaging solutions are using durable yet ductile, affordable, and sustainable
packaging solutions.
Key Players:
Key players leading
the global manuka honey market are Watson & Son Ltd (New Zealand), Comvita
Limited (New Zealand), Manuka Health (New Zealand), Wedderspoon (New Zealand),
API Health (New Zealand), Mossops Honey (New Zealand), and Cammells Honey (New
Zealand) among others.
Industry/ Innovation/
Related News:
January 09, 2019 –--
Walker & Company Brands, Inc. (US), a leading global manufacturer and
supplier of personal care products announced the release of its first skincare
collection for Men, under the brand name Bevel.
This new skincare collection
is a unique, curated line of products that address hyperpigmentation,
inflammation, dullness, and uneven skin tone. The full Bevel Skin line consists
of the products such as face wash, 10% glycolic acid exfoliating toner, spot
corrector, and moisturizing face gel containing natural oils, Vitamin C, Algae
Extract, and Manuka honey.
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NOTE: Our Team of
Researchers are Studying Covid19 and its Impact on Various Industry Verticals
and wherever required we will be considering Covid19 Footprints for Better
Analysis of Market and Industries. Cordially get in Touch for More Details.
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