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 size 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 size 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 size.
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 size – 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 size – Regional Analysis
The Asia Pacific region is estimated to retain its dominance over the global manuka honey market size 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 size 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 size 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 size – Competitive Analysis
The highly competitive, manuka honey market size 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 size 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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