Manuka Honey Market Forecasts to 2028 – Global Analysis By Product Type (Processed Manuka Honey, Raw Manuka Honey and Other Product Types), Nature (Conventional, Organic and Other Natures), Form (UMF 20+, UMF 15+, UMF 10+, UMF 5+ and Other Forms), Distribution Channel, End User and By Geography
According to Stratistics MRC, the Global Manuka Honey Market is accounted for $931.6 million in 2022 and is expected to reach $1,470.1 million by 2028 growing at a CAGR of 7.8% during the forecast period. Manuka honey is dark honey that offers a pool of biological properties owing to its antimicrobial and antioxidant capacities. The antimicrobial activity of this honey is measured through the Unique Manuka Factor (UMF). The antibacterial properties of honey set it apart from traditional honey. The sweet and strong flavor of honey makes it a potential sweetener and a replacement for table sugar.
According to The Diabetes Council, manuka honey is considered as the healthiest substitute for the people with diabetes. 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.
Market Dynamics:
Driver:
Health benefits associated with Manuka Honey
Manuka honey is highly valued for its antibacterial properties, as has been substantiated by scientific research. It helps in wound healing, improves metabolism, treats sore throat, and is also good for the skin. 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. Hence, these are the factors boosting the growth of the market.
Restraint:
High cost of honey
As the demand for the product increases, it further eliminates regional boundaries for the production of high-quality products. Organic honey is extremely expensive as compared to the fake ones, which makes it less affordable to the population. Artificial honey may not cause much damage in the short term, but it is a real challenge to the survival of real honey in the long run. Thus, these aspects are restraining the market growth.
Opportunity:
Increasing consumer preference for organic honey
The consumers in developed economies are increasingly concerned about the impact of agricultural activities on the environment and are looking for products with less environmental impact. Consumer awareness is rising regarding the environmental and health impact of chemicals during food cultivation. Consumers are shifting toward organically procured honey due to the increasing awareness regarding the negative impact of chemicals on human health. Therefore, these factors are anticipated to enhance the growth of the market.
Threat:
Rising availability of duplicate honey
Another major challenge is posed by duplicate honey that is hindering the market. It is believed that honey is the third most faked food in the world after milk and olive oil. This fake honey is usually a highly processed form of a mixture of small quantity of real honey with low-cost sugary syrup derived from corn, rice, and sugarcane, among others. It offers none of the health benefits of real honey but all the disadvantages that can be associated with sugar.
Covid-19 Impact
Since the COVID-19 pandemic drove millions of people to stay at home, food and beverage sales have soared globally. Consumers in the area have a high demand for the honey. Due to increased health awareness, customers are spending more money on honey with therapeutic benefits, such as manuka honey, than regular honey. However, the outbreak has negatively impacted the global market for honey by forcing supermarkets and hypermarkets to close in many regions and nations. During the early stages of COVID-19, the sourcing and delivery of honey were severely hampered by import-export restrictions imposed by various nations and transportation constraints.
The organic segment is expected to be the largest during the forecast period
The organic segment is estimated to have a lucrative growth, due to the increasing demand for organic and natural manuka honey in various industries. Increased awareness about health benefits and nutritional content of this honey is driving the growth of organic segment coupled with a rise in demand for natural food products along with good taste. Rising demand for the natural and herbal ingredients has created a potential opportunity for the market.
The online stores segment is expected to have the highest CAGR during the forecast period
The online stores segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the change in their purchasing patterns and a considerable shift in lifestyles. Online platforms offer high levels of convenience, increased product visibility, and at-home delivery features, which is promoting the segment growth. A majority of the consumers rely on virtual stores to help them navigate through the multitude of products available and at times, return and exchange options available to them if not satisfied with the delivered products.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to increased health awareness among consumers. Furthermore, the consumption of this honey has increased due to the rising disposable income and the availability of honey in the different forms on online and offline retail shops. An expansion in the purchasing power coupled with the increased spending by millennials on nutrition rich food drives the growth of the manuka honey market in the region.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to the increase in consumer focus for maintaining fitness and regulating the body weight. The region has well-developed food, beverage and cosmetic industries, where the demand for plant based, healthy and nutritious products is increasing. Thus, the increased usage of manuka honey in variety of applications is driving the growth of the market in the region.
Key players in the market
Some of the key players profiled in the Manuka Honey Market include Capilano Honey Ltd., OHA Honey, Arataki Honey, Manuka Health, COMVITA, Streamland Biological Technology Limited, Midland Holdings, KirksBees Honey, Watson And Sons, Pure Honey New Zealand, Happy Valley Honey, Barnes Natural, Nature's Gold, Simply Honey, Haddrell's, Steens Honey, Apihealth NZ Ltd., Berringa, Egmont Honey and Cammells Honey.
Key Developments:
In March 2021, COMVITA announced its new UMF25+ Manuka Honey. The company announced it to be rare, as well as precious.
In January 2021, Manuka Health partnered up with Oritain and Trust Codes for the purpose of protecting Manuka Honey all the way from beekeepers to jars.
Product Types Covered:
• Processed Manuka Honey
• Raw Manuka Honey
• Other Product Types
Natures Covered:
• Conventional
• Organic
• Other Natures
Forms Covered:
• UMF 20+
• UMF 15+
• UMF 10+
• UMF 5+
• Other Forms
Distribution Channels Covered:
• Convenience Stores
• Online Stores
• Hypermarkets & Supermarkets
• Other Distribution Channels
End Users Covered:
• Bakery & Confectionery
• Pharmaceuticals
• Food & Beverages
• Cosmetics & Personal Care
• Dairy Products
• Other End Users
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
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