Competitive Analysis-
The major key players in Manuka Honey Market 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)
- Cammells Honey (New Zealand)
Manuka manufacturers across various regions follow the strategy of improving their existing product as well as increasing the manufacture of organic manuka to add more value to their products to expand their business. This is one of the major factors due to which the demands of Manuka is experiencing a surge. New Zealand is amongst the dominating countries holding a major share in Manuka market and exports the product in various other countries which include U.S., China, Australia, Japan and others.
Market Overview
The increasing sale of Manuka is driven by changing consumer’s preference and adoption of healthy food consumption trend. Wide application of Manuka across bakery and confectionery industries and increased production of sugar alternatives is increasing its sale in the market. The health benefits obtained from manuka backed up by its high anti-oxidant content and anti-microbial properties is also supporting its sale amongst the consumers. Increasing consumption of healthy sweeteners helping in reducing the cholesterol content has a positive impact on the Manuka market as a potential sweetener. The consumption of Manuka is found to be high in and Asia-Pacific and is evaluated to increase at a positive growth rate in various countries of Europe and North America.
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Market Forecast
Globally, the Manuka market share is estimated to escalate at a higher growth rate due its high nutritional profile. The honey is known to boost up the immune system thereby improving the body’s metabolic functions. The high consumption of Manuka is backed up by its fair content of essential amino-acids, vitamin B and Minerals. The rising demand for sweeteners with rich and strong flavors in the bakery and confectionery industries is supporting its sale on a global level. The nutritional value of manuka honey also has increased its demand in pharmaceutical industries due to its medicinal properties.
All these factors contribute to the calculated CAGR of 4.3% of Manuka market during 2017-2023.
Downstream Analysis-
Consumption of HFCS-Free Manuka is growing at significant rate based on high demand from the consumer’s side for healthy sugar substitutes. In addition, the application of manuka honey for direct consumption/Culinary purpose experiencing a rapid increase followed by its application in bakery and confectionery industries.
The sale of Manuka through E-commerce is experiencing a surge backed up by consumer’s convenience and readily availability of the product. However, the sale through Hypermarkets and Supermarkets will witness a high growth rate in the given forecast period supported by increased trade on the basis of consumer’s demand.
Regional Analysis
The Global Manuka Honey Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Asia Pacific holds a major market share followed by Europe. The high demands for Manuka from the developed countries of these regions are contributing to the positive growth of Manuka market. New Zealand, Australia, China, Germany and Spain are the major importers of Manuka. Asia-Pacific is found to be the major exporter of Manuka and exports majorly to countries of Europe and North America.
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Key Findings:
- Application of Manuka Honey for medicinal purpose is anticipated to have a high growth during the forecast period.
- Top exporters of Manuka Honey include New Zealand, Australia, China, Germany and Spain
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