Market Overview
Manuka Honey Market was valued at USD YY million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of 8.12% during the forecast period (2022-2029).
Manuka honey is acquired from the nectar of manuka tree by European honey bees Apis mellifera which pollinate the flower on the manuka bush. It is also known as a monofloral honey due to its predominant origin from the nectar of only one plant species which is manufactured in New Zealand and Australia.
In addition, it is also used in preparation of supplements, for example, fructose, glucose, minerals, nutrients, dust, and proteins and fills in as characteristic cell reinforcement wealthy in phenolic acids and flavonoids. Moreover, manuka honey has various uses in variety of applications such as food, cosmetic/personal care and others. Furthermore, manuka honey isa rich source of vitamins, minerals, amino acid and nutrients which helps in protecting and renewing the skin and used to make lotions, creams, perfumes, foundations mascara and others. Furthermore, the health benefits of manuka honey such as strengthening the immune system, preventing oral infections, rapid healing, boosting the respiratory system is also driving the growth of the market.
Thus, owing to these benefits the demand for manuka honey in various industries such food, beverage, household, cosmetic, personal care and others has increased the demand globally.
Market Dynamics: Increase in demand for manuka honey due to its health benefits is driving the growth of global manuka honey market
The changing lifestyle of individuals, eating habits have changed drastically. Increasing awareness about weight and heart-related diseases, especially among young individuals and teenagers, has inclined the focus of customers toward healthy food products and consumers prefer the food products which can provide them with nutrition as well as health benefits. Moreover, many consumers are shifting their choices and substituting sugar with manuka honey to live a healthy life. For instance, in December 2021, according to The Diabetes Council, manuka honey is considered as the healthiest substitute for the people with diabetes. Thus, consumers prefer to have organic or natural raw materials instead of artificial flavoring.
Furthermore, the health benefits associated with manuka honey such as it aids wound healing, promotes oral health, soothes a sore throat, helps prevent gastric ulcers, improves digestive symptoms, treats acne and many more. These benefits associated with manuka honey attract the consumers which increase its demand and thus, add to the growth of the market. For instance, in 2021, according to world’s top exports, the revenue of natural honey increased from 2.38 USD billion to 2.65 USD billion from 2020 to 2021. Thus, the rise demand and consumption of natural honey which also includes manuka honey increases its production which ultimately adds to the growth of the market thereby propelling the propelling market growth in the forecasted period.
However, some of side effects associated with manuka honey such as sensitivity to sunlight, mild burning sensation when applied directly on skin. In addition, some people may experience allergic reactions to their odors or any strong scents. These side effects may enable consumers to switch to other healthy alternatives that may hamper the growth of the market.
Market Segmentation: Organic segment stands for the highest share in global manuka honey market
In 2021, the organicsegment had the highest revenue share of YY percent. The increasing demand for organic and natural manuka honey in various industries such as in food, cosmetic/personal care and others owing increased awareness about health benefits & nutritional content of manuka honey is driving the growth of organic segment coupled with a rise in demand for natural food products along with good taste.Thus, manufacturers are also introducing new products in the market to fulfill consumer demands which adds to the growth of the segment.For instance, in September 2020, Comvita, launched MGO-verified Multifloral Manuka Honey (MGO 50+), it is known for its certified UMF?. This multifloral Manuka aims to attract more consumers seeking the unique benefits and flavor to the trending category at an affordable price point.
Geographical Penetration: North America is the dominating region during the forecast period
In 2021, North America had the highest revenue share of XX percent. The region has well-developed food, beverage and cosmetic industries, where the demand for plant based, healthy and nutritious products is increasing. In addition, the increase in consumer focus for maintaining fitness and regulating the body weight leads to the increasing demand for natural food products, such as manuka honey which propels the growth of the manuka honey market in the region. For instance, in 2021, according to world’s top exports, United States of America is top country which imports natural honey. U.S. has imported around US$666.6 million which is 25.2%. Consumers in U.S. prefer to eat healthy products with good nutritional content which again adds to the growth of the market. In addition, manuka honey is also used in majority of the household applications as an ingredient. Thus, the increased usage of manuka honey in variety of applications is driving the growth of the market in the region.
Competitive Landscape:
The global manuka honey market is competitive and comprises players such as Comvita, Watson & Son, Manuka Health, Pure Honey New Zealand, Arataki Honey, Streamland, Ora Honey, Capilano, Nature’s Way and Triniton Australia PTY LTD among others. The manuka honey market competitiveness is estimated to increase over the forecast period as the key players focus on various strategies such as marketing & advertisement. Additionally, rise in research and development activities of product innovation for healthy & natural products. Furthermore, manufacturers also focus on new product launches, fortification of existing products to attract the consumers and others. For instance, in September 20222, Twin Nature, launched, the Manuka Honey Straws, in the US market. This move follows Twin Nature’s success in Australia and the brand’s goal to deliver healthy, environmentally conscious products to the broader market.
COVID-19 Impact: Positive impact on global manuka honey market
The COVID-19 pandemic has adversely affected the economies of various countries due to lockdowns, business close, and travel bans. Food and beverages is among the major industries suffered from intense disruptions such as restrictions on the supply chain and the shutdown of warehouse plants. In addition, the closures of the companies, production facilities, and various factories in various countries have disrupted the whole supply chains. It has negatively impacted manufacturing activities, delivery schedules, and various goods sales. Multiple companies have already announced possible delays in product deliveries and a decline in future sales of their products.
Covid-19 has shifted consumers towards natural and healthy products to treat various diseases and infections and to stay fit. Manuka honey is considered as the nutrient rich ingredient to fight the diseases. For instance, in 2020, according to the Australian food shop, manuka honey is extremely nutrient rich and supports the immune system, means manuka honey can certainly help your body to have a naturally high resistance and increased recovery from any virus including Covid. Along with this some research has demonstrated manuka honey is a beneficial deterrent of the influenza virus and also helps prevent virus replication.
Thus, the increasing demand for natural products such as manuka honey during covid-19 to strengthen the immune system is driving the growth of the market. Although, there were restrictions on food chains, consumers shifted their buying preferences towards online channel to meet their demands.
The global manuka honey market report would provide an access to approximately 77 market data tables, 73 figures and 170 pages