Pune, India, July 26, 2019 (GLOBE NEWSWIRE) -- Manuka Honey Market Projected to grow at a CAGR of 4.3% during the Forecast period (2018-2023), reveals the latest report by Market Research Future (MRFR).
Market Overview
Manuka Honey or as it is known in Australia, Tea Tree Oil, gaining traction is no surprise. Obtained from the manuka tree, this honey is an exclusive product of Spain, Australia, New Zealand, Germany, and China. Its anti-bacterial features make it an ideal component for medicines which is why exigent demands from pharmaceutical industries are giving it a much-needed boost. A natural sweetener, this product has considerably replaced sugar from many a table. Sugar has hazardous effects which the manuka honey can easily substitute with its medicinal benefits.
Furthermore, its popularity is witnessing an upward surge as Manuka Honey Market is low on fat giving health enthusiasts reasons to cheer for. The cosmetic industry is also taking the market ahead by generating much demand for it and is getting aptly backed by a population that follows herbal, organic or natural products. The global manuka honey market can expect an Impressive Growth during the forecast period (2018-2023), Asserts Market Research Future (MRFR) during an extensively studied report.
However, its availability in only a specified region can pose a daunting task for the exporters to meet the global supply-demand ratio. This can also lead to fake products which can directly harm the reputation of the growth of this product. On the other hand, Irish heather honey is quite like that of manuka honey and can give it tough competition in the global market.
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Key Players and Industry Buzz
The key players profiled in the Global Manuka Honey Market are, Comvita Limited (New Zealand), API Health (New Zealand), Manuka Health (New Zealand), Watson & Son Ltd (New Zealand), Wedderspoon (New Zealand), Mossops Honey (New Zealand), and Cammells Honey (New Zealand).
New Zealand’s Ministry for Primary Industries (MPI) has recently established a regulatory standard for manuka honey to increase its credibility among the mass. Wedder spoon, one of the finest brands to rule North American region, announced recently that their new line of manuka honey products is going to abide by this regulation.
Steens have launched their range of Manuka Honey Market product where they have cold pressed the component to increase its quality.
Links Medical Products Inc., parent company of Manuka Sport, decided to create a product line focused on the sports nutrition and performance market to bring these benefits to the inside of the body. Manuka Sport is a unique honey-based product line because its products’ main ingredient is Manuka honey sourced from New Zealand.
Regional Analysis
Region-wise, the global Manuka Honey Market can be segmented into Europe, North America, Asia Pacific and Rest-of-the-World (RoW).
The APAC is the largest market as the region has the major producers such as New Zealand, China and Australia in its territory and exports the product considerably to earn more. Changing lifestyle of the region has spurred a need for healthy diets, and manuka honey is filling in that gap by spreading its business considerably. Europe is holding the second spot, and the region is importing the product in large quantity as a substitute for sugar. Germany, France, and the U.K. are the major importers of the product in Europe. Japan and the U.S. also contribute substantially by importing the product in massive quantity.
Browse the Industry data and Information spread across 110 pages with 25 data tables and 16 figures of the report “Manuka Honey Market Report - Forecast 2018-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/manuka-honey-market-3112
Segmentation
The global market for Manuka Honey Market products can be segmented by Specialty-Food Type, application, and distribution channel.
Based on specialty-food Type, the market is sub-segmented into organic, GMO-free, gluten-Free, HFCS-free, and others. Increasing health-awareness has boosted the sale of HFCS-free, and the segment is ruling the rest.
Application-wise distribution includes direct consumption/culinary purpose, medicinal purpose, personal care products, bakery and confectionery and others. Direct consumption/culinary purpose segment is holding a significant amount of market share.
Based on distribution channel, the market can be segmented into specialty stores, hypermarkets and supermarkets, convenience stores, e-commerce, and others. E-commerce is impacting the market the most with its wider network and easy accessibility.
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