Manuka Honey Market Overview:
The Manuka Honey market is expected to grow at a 7.78% CAGR from 2021 to 2028, reaching USD 1,032.73 million by the end of 2028.
The market for manuka honey is expanding due to its rich flavour and increased use as a substitute for table sugar. The availability of manuka honey through online sales channels has also boosted the market for this product. Customers can also order it online because it is available on e-commerce platforms. Manuka honey is distinguished from other kinds of honey by its antibacterial properties. Manuka honey has a robust and sweet flavour, making it a potential sweetener and sugar substitute. Over the forecast period, it is expected that as alternative sweeteners have increased significantly, so will the demand for manuka honey. The global market is driven by the growing use of manuka honey in cosmetics and personal care products. Because of the growing demand for natural and herbal ingredients, the manuka honey market represents a significant opportunity. The rising demand for natural food and beauty products and a shift in consumer habits propel the manuka honey market.
The COVID-19 outbreak has impacted the global Manuka Honey Market, causing mandatory closures of hypermarkets and supermarkets in various regions and countries. The outbreak has reduced manuka honey production capacities. The sourcing and supply of manuka honey were severely hampered during the early stages of COVID-19 due to import-export restrictions imposed by various countries and transportation constraints.
Market segmentation:
The Manuka Honey Market is segmented based on category, product type, and distribution channel.
According to the category:
- Organic
- Conventional
According to the product type:
- MGO 829
- MGO 514
- MGO 263
- MGO 83
- Others
According to the distribution channel:
- Non-Store-Based
- Store-Based
Regional analysis:
The Global Manuka Honey Market is divided into North America, Asia-Pacific, Europe, and the Rest of the World.
The Asia-Pacific region dominated the manuka honey market. The middle class is growing in both developed and developing countries, and urbanisation is rising. This opens up new opportunities for the leading players in the manuka honey market. Consumers' growing health consciousness is also expected to drive market growth. The region's growing desire for nutritious cuisine is one of the primary factors driving the expansion of manuka honey in Asia-Pacific. People's eating habits have shifted due to their hectic lifestyles and health concerns, fueling the growth of the manuka honey market in the region.
The North American manuka honey market will continue to lead in CAGR during the forecast period. High demand for various snacks among children and adults and rising consumption of nutrient-fortified foods are driving market growth in this region. Manuka honey is now widely used in the manufacture of snack bars. Furthermore, consumers are primarily concerned with maintaining their health and controlling their weight, increasing the demand for natural foods. Furthermore, many supermarkets in Canada and the United States would propel the manuka honey market growth in this region.
Competitive Landscape:
The Key Manuka Honey Market Players comprises tier-1, tier-2, and local players. The tier-1 and tier-2 players have a global reach and diverse product portfolios. Companies such as Comvita Limited (New Zealand), Steens Honey (New Zealand), Manuka Health New Zealand (New Zealand), and Berringa (Australia) dominate the global market due to brand reputation, product differentiation, financial stability, and diversified regional presence.
Prominent players in the global Manuka Honey Market include Comvita Limited (New Zealand), Steens Honey (New Zealand), Manuka Health New Zealand (New Zealand), Berringa (Australia), Australia’s Manuka (Australia), GO Healthy New Zealand Ltd. (New Zealand), Simply Honey (Australia), Barnes Natural (Australia), Nature’s Gold (Australia), New Zealand Honey Co. (New Zealand), Haddrell's (New Zealand), Mossops Honey (New Zealand), Happy Valley Honey (New Zealand), 100% Pure NZ Honey (New Zealand), Arataki Honey (New Zealand), Egmont Honey (New Zealand), Streamland Honey (New Zealand), OHA Honey (New Zealand), ApiHealth NZ Ltd. (New Zealand), Wedderspoon (New Zealand), Cammells Honey (New Zealand), Capilano Honey Ltd. (New Zealand), Honey New Zealand (New Zealand), Richora Honey (New Zealand), Midland Apiaries (New Zealand), and Taylor Pass Honey Co (New Zealand).
Recent Developments:
- COMVITA launched its new UMF25+ Manuka Honey in March 2021. According to the company, it is both rare and valuable.
- Manuka Health joined forces with Oritain and Trust Codes in January 2021 to safeguard Manuka Honey from beekeepers to jars.
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