Global Manuka Honey Market – Overview
Due to the large number of health benefits associated with manuka honey consumption, the market is growing at an incremental pace of development globally. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Manuka Honey Market Research Report- Forecast to 2023 that the market will demonstrate an exceptional CAGR % while achieving million dollar growth rapidly during the forecast period.
Health awareness and high demand for natural sweeteners have increased the demand for manuka honey on a global level. The sector is driven in a major way based on the essential amino acids, vitamin B6, Potassium and other essential minerals content of the product. Health benefits gained out of manuka honey consumption are the main drivers to the development of this segment. Application of manuka honey in the personal care products is also adding fuel to the growth of this market.
Health factors like reducing high cholesterol level, diabetes, gastrointestinal problems can be effectively addressed with the incorporation of manuka honey into daily diet. Increase in wellness sector awareness has enhanced the market growth trajectory of this sector to an elevated level. Rise in health awareness has led to consumers demanding manuka honey across the countries. Based on all the beneficial properties obtained out of it, manuka honey is now addressed as a “superfood” globally.
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Latest Industry Updates
Dec 2017 Owning to the rising demand for manuka honey in China, the major manuka honey producing countries Australia and New Zealand have entered into a competition for the trademark for manuka honey rights. The demand is anticipated to have surged based on the escalating awareness on health benefits of manuka honey globally.
Oct 2017 AWPL’s Australian Way released new BeePower limited edition Manuka Honey owning to high consumption and demand for the product in the country. The strategy is considered as a product promotion technique to attract consumer’s attention towards the product offerings. The product was made available in Sydney and Melbourne airport stores.
Oct 2017 New Zealand Natural Goods, a Los Angeles based, family owned importer and distributor of specialty food products from New Zealand introduced new manuka honey candy which is beings designed specifically for the specialty food and gift market.
Mar 2017 Royal Cashews; a leading cashew processing company in Sri Lanka teamed up with New Zealand Honey Company to introduce ‘Manuka Honey’ and other specialty honey products to the Sri Lankan consumers. The strategy will help in spreading awareness to the consumers about the health benefits obtained by the product and to gain consumers attention.
Global Manuka Honey Market – Competitive Analysis
Established players as well as new players are found to enter the manuka honey market based on the rising demand for the product on a global level. Established players in the manuka honey market are concentrated in New Zealand and Australia and are highly extending their reach based on escalating cross country demand. The best long-term growth opportunities in this sector would be gained by ensuring quality product to the consumers and continued indulgence in the R&D activities.
The key players profiled in manuka honey report are Comvita Limited (New Zealand), Watson & Son Ltd (New Zealand), Manuka Health (New Zealand), API Health (New Zealand), Wedderspoon (New Zealand), Mossops Honey (New Zealand), and Cammells Honey (New Zealand) among many others.
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Global Manuka honey Market – Segments
The global manuka honey market has been divided into specialty-type, application, distribution channel and region.
On The Basis Of Type: Organic, and Conventional
On The Basis Of Application: Direct consumption/Culinary purpose, Foods & Beverages, Medicinal purpose, Personal Care Products, and Others
On The Basis Of Distribution Channel: Store based, Non-store based
On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.
Global Manuka honey Market – Regional Analysis
The global manuka honey market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global manuka honey market is highly dominated by APAC due to high production of manuka honey in New Zealand and Australia. APAC is also considered to be the fastest growing region due to increasing health awareness and consumers high inclination towards healthy life-style. The consumption of manuka honey in developing counties like India, Brazil, and China is expected to grow in the upcoming years.
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