Market Overview:
Honey has been an integral part of nature based therapies as well as food preparations around the world. Market reports linked to the food, beverage & nutrition sector along with published reports on other sectors have been lately made available by Market Research Future, which has also published a report on this market. The industry for manuka honey is expected to show an increased growth rate both in terms of revenues and CAGR percent in the forecast period.
Manuka honey is indigenous to the Australian region, and has been found to have a huge degree of beneficial properties. As the honey has organic properties and is free largely from preservatives the demand for the products from consumer end has gone up considerably in the past few years. As awareness for manuka honey grows with increased attention campaigns, the demand for the product is also predicted to rise significantly.
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Competitive Analysis:
The products that are being focused on to capitalize the vigorous pace of technological discoveries have led to extensive changes. This particular trend has amplified the affinity for diversification in the sector, which has indirectly enabled the players to use the beneficial state of dealings obtainable in this market. The utilization of these opportunities by contenders, who are trying to nurture their industry share by intensive development can inspire the growth of this business sector. The companies are also additionally trying to capture and create economic worth together in a proper manner. This has raised the potential for the approaching growth period considerably. This state has also been known to be productive for companies so they can fix goals that can keep up their enterprise’s liquidity viable enough to take effective choices in terms of strategy designing and implementation.
The main competitors covered in the manuka honey industry from around the world are Watson & Son Ltd (New Zealand), Comvita Limited (New Zealand), Manuka Health (New Zealand), Wedderspoon (New Zealand) and API Health (New Zealand).
Industry Updates:
Mar 2018 The Australian Manuka Honey Association has received a grant worth $165,000 grant which will make dispersing information about the sweet stuff easier as the Manuka honey’s medicinal benefits are already widely known. The federal government grant will support the association’s work to grow the international industry for Australian manuka honey. The Blue Hills Honey owner and Association advisory committee member stated that the grant would be of abundant help in increasing the message about Australia’s manuka products. The association will create a website and visit key markets to impart production knowledge and support the origins of manuka honey in Australia.
Industry Segments:
The manuka honey industry has been segmented on the basis of specialty food type which comprises of gluten-free, organic, HFCS-Free, GMO-Free and other products. The HFCS-Free manuka honey is holding a key share owing to growing health concerns among the consumers. The industry for manuka honey has been segmented on the basis of application which includes bakery and confectionery, direct consumption/culinary purpose, personal care products, medicinal purpose and others. The application segment of direct consumption/Culinary purpose is having a big share trailed by application in bakery and confectionery sector. The manuka honey segment has been segmented on the basis of distribution channel which includes convenience stores, e-commerce, specialty stores, hypermarkets and supermarkets among others. The sales through E-commerce are found to be high in this industry.
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Regional Analysis:
The manuka honey industry globally is segmented into Europe, Asia Pacific, North America and rest of the world (ROW). The Asia Pacific region has the main market share followed by the European sector. The changing lifestyle pattern has contributed to the adoption of healthy diet by consumers owing to which the Asia-Pacific region is anticipated to create a high revenue during the forecast period. The major importers of manuka honey comprise of Japan, Germany, U.S., France and U.K. The higher demand for sugar substitutes has increased the import and export of manuka honey in the developed countries and will also continue to rise at a steady growth rate.
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