Manuka Honey Market Overview:
The manuka honey market size is projected to expand at a CAGR of 7.80% from 2023 to 2032, reaching USD 1.1 Billion by the end of 2032.
Manuka Honey is obtained from the nectar of the Manuka tree, and it is popular due to its numerous medicinal properties.
Due to its anti-inflammatory and anti-irritation properties, Manuka Honey is getting used in the production of beauty care products and drugs. Health-conscious people are including this honey in their diet regime as it is a gluten-free product. Due to the health benefits offered by Manuka Honey, it is estimated that the global Manuka Honey Market Size will grow substantially in the coming years.
In the last two years due to the pandemic COVID-19, the market of Manuka Honey got affected as there was a lack of transportation and laborers. Like many other industries, the Manuka Honey Market is going up after the severity of the pandemic has receded. The market is expected to revive during the forecast period as there is a surge in the demands for this honey in the pharmaceutical and food & beverages sectors across the world.
Due to high prices and region-limited production, the market of Manuka Honey may get hampered in the coming years.
Regional Classification:
The huge Manuka Honey Market is divided into different regions -North America, Europe, South America, Asia-Pacific, and the rest of the world. During the forecast period 2022-2028, the Asia-Pacific region is estimated to have the maximum growth. The contributing factors for the growth of the Manuka Honey Market in the Asia-Pacific region are an increase in concentrated production and a surge in application sectors.
Due to the increase in health-conscious people and more people with disposable income, North America and Europe are also going to help the Manuka Honey Market Revenue to go high by 2028.
Top Key Players:
Prominent players in the global Manuka Honey Market include Comvita Limited (New Zealand), Steens Honey (New Zealand), Manuka Health New Zealand (New Zealand), Berringa (Australia), Australia’s Manuka (Australia), GO Healthy New Zealand Ltd. (New Zealand), Simply Honey (Australia), Barnes Natural (Australia), Nature’s Gold (Australia), New Zealand Honey Co. (New Zealand), Haddrell's (New Zealand), Mossops Honey (New Zealand), Happy Valley Honey (New Zealand), 100% Pure NZ Honey (New Zealand), Arataki Honey (New Zealand), Egmont Honey (New Zealand), Streamland Honey (New Zealand), OHA Honey (New Zealand), ApiHealth NZ Ltd. (New Zealand), Wedderspoon (New Zealand), Cammells Honey (New Zealand), Capilano Honey Ltd. (New Zealand), Honey New Zealand (New Zealand), Richora Honey (New Zealand), Midland Apiaries (New Zealand), and Taylor Pass Honey Co (New Zealand).
Market Segmentation:
Based on type, the global Manuka Honey Market Overview is sub-divided into UMF 30+, UMF 20+, UMF 5+, UMF 15+, and others.
Based on the distribution channel, the market of Manuka Honey is categorized into store-based and non-store-based. The subdivisions of the store-based sector are supermarkets, convenience stores, hypermarkets, and others.
Based on application, the market of Manuka Honey is divided into pharmaceutical, beauty-care products, foods & beverages, and direct consumers.
Based on nature, the Manuka Honey Market is further categorized into conventional and organic. The conventional sector had occupied a major part of the market. Conventional methods maintain the quality and safety of the Manuka Honey so, in the coming years, the market is expected to be dominated by this segment. The organic sector is also expected to make good business due to increased demand for organic goods by consumers.
Industry News:
The key players in the global Manuka Homey Market are focusing on business diversification and expansion which will lead to more opportunities during the forecast period.
The increasing demand for Manuka Honey in the pharmaceutical industry will help in the consistent growth of the global market.
Ideal solutions offered to the consumers by different distribution channels would help the global Manuka Honey Market Growth in the coming years.
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