Pune, India, Dec. 19, 2023 (GLOBE NEWSWIRE) -- The global Manuka Honey Market size was valued at USD 366.22 million in 2022 and is expected to be worth USD 381.09 million in 2023. The market is projected to reach USD 528.24 million by 2030, recording a CAGR of 4.78% during the forecast period.
Manuka honey is a high-quality honey made from the nectar of the Manuka flowers and trees and is mainly found in Australia and New Zealand. This type of honey is quite different from other types of honey as it has a key active ingredient called methylglyoxal. This honey has a deeper, richer flavor and has a wide range of antioxidant and phenolic properties, which can help customers boost their immunity. This factor is expected to augment the Manuka honey market growth.
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Leading Players Featured in the Research Report:
Companies leading Manuka Honey Market are COMVITA (New Zealand), Arataki Honey (New Zealand), New Zealand Honey Co., (New Zealand), Steens Honey (New Zealand), HAPPY VALLEY HONEY (New Zealand), Mother Earth Manuka Honey (New Zealand), KIVA Health Food (U.S.), KARE (New Zealand), Manuka Health New Zealand (New Zealand), and Mount Somers (New Zealand).
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 4.78% |
| 2030 Value Projection | USD 528.24 Million |
| Manuka Honey Market Size in 2022 | USD 366.22 Million |
| Historical Data | 2019-2021 |
| No. of Pages | 180 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Manuka Honey Market Growth Drivers | Product Sales to Surge Owing to Shift from Harmful Chemical-based to Natural Cosmetics |
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COVID-19 Boosted People’s Focus On Improving Health, Propelled the Market Growth
The COVID-19 pandemic positively impacted the market progress as customers increased their focus on enhancing their immunity to avoid getting infected by the virus. While the food processing industry witnessed several disruptions, such as shutdown of manufacturing facilities and supply chain breakdowns, the demand for natural sweeteners, such as honey increased. Customers began looking for various ways to improve their health and well-being by making the right dietary choices, such as consumption of organic honey. These factors accelerated the product sales during this period.
Segmentation:
High Availability and Affordability of UMF 5+ Honey to Boost Their Consumption
Based on type, the market is segmented into UMF 5+, UMF 10+, UMF 15+, and UMF 20+. The UMF 5+ segment captured the maximum market share in 2022 as this type of honey is widely available and is reasonably priced, and can be used for daily purposes.
Supermarkets/Hypermarkets to be Major Product Distribution Channels Due to Their Vast Presence
Based on distribution channel, the market is divided into supermarkets/hypermarkets, specialty stores, online stores, and convenience stores. The supermarkets/hypermarkets segment held the largest market share as these stores have a vast network and are a popular destination for gourmet and high-quality honey.
With respect to region, the market covers North America, Europe, Asia Pacific, and the Rest of the World.
Report Coverage:
The report analyzes the market in detail and highlights various key areas, such as leading product types, distribution channels, and prominent market players. It also sheds light on the recent industry developments and vital market trends. Apart from the abovementioned factors, the market report covers several factors that have contributed to the market’s growth in recent years.
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Drivers and Restraints:
Growing Adoption of Natural Honey in Medical Sector to Boost Market Progress
Honey has been a major ingredient in several medicinal products for centuries as it contains many therapeutic properties. One of the most popular uses of honey is in wound dressing as it has various antibacterial properties as well. These factors have increased the usage of Manuka honey in wound dressing as it quickens the healing time of deep injuries and creates a conducive environment for the wound to heal. These advantages are expected to drive the product adoption in the medical sector.
However, challenges faced by manufacturers in extracting and processing Manuka honey from flowers can impede the market growth.
Regional Insights:
Europe to Dominate Market Due to High Regional Production of Manuka Honey
Europe has captured a dominant part in the Manuka honey market share and is anticipated to maintain its dominance in the global market during the forecast period. The region is one of the biggest producers of Manuka-based products. Moreover, other factors, such as rising spending power of European customers and strong penetration of online channels are expected to fuel the market progress.
Asia Pacific is the second-largest region in the global market as the region has witnessed a major shift in dietary preferences due to growing health and wellness concerns.
Competitive Landscape:
Market Leaders to Focus On Novel Product Launches and Corporate Strategies to Dominate Market
Some of the major companies involved in this market include Arataki Honey, COMVITA, and New Zealand Honey Co., among many others. These companies are increasing their focus on introducing new products in the market to expand their customer base. They are also entering strategic partnerships and mergers to help them increase their market share.
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Major Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Overview of the Parent/Related Markets
- Supply Chain Analysis
- Regulatory Analysis
- Recent Industry Developments – Mergers & Acquisitions, Partnerships, & New Product Launches
- Qualitative Analysis Related to COVID-19
- Impact of COVID-19 on the Market
- Supply Chain Challenges amidst Pandemic
- Potential Opportunities due to this Global Crisis
- Global Manuka Honey Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type
- UMF 5+
- UMF 10+
- UMF 15+
- UMF 20+
- By Distribution Channel
- Supermarkets/Hypermarkets
- Specialty Stores
- Online Stores
- Convenience Stores
- By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
- By Type
To Be Continued…!
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Notable Industry Development:
February 2022: Three Peaks Honey announced its merger with 100% Pure New Zealand Honey, one of the leading Manuka honey companies. The newly merged company would be called “Manuka Collective”, which would boost the production of “high-quality Manuka honey”.
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