LOS ANGELES, April 10, 2019 (GLOBE NEWSWIRE) -- Medicinal value of any herbal product increases its importance. As manuka honey is known for its powerful medicinal impact it has garnered a huge demand across the globe. The global manuka honey market was US$940 mn in 2018 and it is expected to reach US$2160 mn by 2025, surging at a robust CAGR of 12.5% during the forecast period of 2018 to 2025.
The research team at QY Research has published its analytical study and the future possibility of the market in its latest report, titled “Global Manuka Honey Market Report, History and Forecast 2014-2025, Breakdown Data by Manufacturers, Key Regions, Types and Application.”
Global Manuka Honey Market: Drivers
Manuka honey is derived from manuka tree and is extensively used for making many medicines. This has opened up a plethora of opportunities for the global market. Manuka honey is best known for myriad health and skin benefits. The antioxidant and anti-inflammatory properties of manuka honey are best for the topical applications for treating eczema and acne. Additionally, the food and beverage industry, especially the confectionaries sector, is projected to dominate use of the global manuka honey market.
Global Manuka Honey Market: Segment Analysis
The global manuka honey market is segmented by type and application. In terms of type, the market is segmented into UMF 5+, UMF 10+, UMF 15+, and UMF 20+. In terms of use, the market is segmented as wound care and skincare products and digestion and inflammation treatment among others.
Global Manuka Honey Market: Regional Analysis
On the basis of region, the global manuka honey market is segmented into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. Asia Pacific is the dominating region as New Zealand remains the key supplier of manuka honey. Europe and North America are also the leading segments of the global manuka honey market.
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Global Manuka Honey Market: The Key Players
The key players studied in the global manuka honey market are Watson & Son, Comvita, Manuka Health, Arataki Honey, Streamland, Pure Honey New Zealand, Ora Honey, Nature’s Way, and Capilano. These companies are focusing on product innovation, better extraction methods, and expanding to newer horizons to stay ahead of the competition. For instance, Manuka Health announced that the company has secured new ownership to back the significant growth strategy of the company, which is subject to Overseas Investment Office (OIO) approval. The new investment capital will support the Manuka Health business as it builds on its extensive New Zealand supply platform, to distribute high-quality natural health products to many markets around the world, such as Japan, Australia, China, Germany, and North America. Such attempts of the company always help them to stay ahead in the global competition.
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