The Global Manuka Honey Market Is Estimated To Record a CAGR of Around 8.11% During The Forecast Period
Evolve Business Intelligence has published a research report on the Global Manuka Honey Market, 2023–2033. The globalManuka Honey market is projected to exhibit a CAGR of around 8.11%during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Manuka Honey Market: Arataki Honey, Capilano Honey Ltd., COMVITA, KirksBees Honey, Manuka Health, Midland Holdings, OHA Honey, Pure Honey New Zealand, Streamland Biological Technology Limited, and Watson And Sons.
Market Highlights
The global Manuka Honey market is projected to be valued at USD 781.5 Billion by 2033, recording a CAGR of around 8.11% during the forecast period. The Manuka honey market refers to the global trade and consumption of honey derived from the nectar of the Manuka tree (Leptospermum scoparium). Manuka honey is primarily produced in New Zealand and parts of Australia, where the Manuka tree thrives. It is known for its unique properties and health benefits, attributed to the presence of a compound called methylglyoxal (MGO), which gives Manuka honey its high antibacterial activity.
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The market for Manuka honey has experienced significant growth in recent years, driven by the increasing consumer demand for natural and organic products. Manuka honey is consumed as a natural sweetener, flavor enhancer, and functional ingredient in various food and beverage products. It is also used in pharmaceuticals, nutraceuticals, and cosmetic products. Moreover, Manuka honey’s antimicrobial and wound-healing properties make it suitable for use in wound care and medical applications.
However, the global Manuka honey market has faced challenges due to the COVID-19 pandemic. The outbreak of the pandemic led to disruptions in global supply chains, logistical challenges, and restrictions on international trade. These factors affected the production, distribution, and availability of Manuka honey products, causing temporary supply shortages and price fluctuations.
Segmental Analysis
The global Manuka Honeymarket has been segmented based on Type, Nature and Application.
Based on the Type, the Manuka Honey market is segmented into UMF 5+, UMF 10+, UMF 15+, UMF 20+. The UMF 15+ segmentis expected to have the larger market share throughout the forecast period.
Based on Nature, the global Manuka Honey market has been divided into Organic/Natural, Conventional. The Organic/Natural segment is anticipated to dominate the market.
Based on Application, the global Manuka Honey market has been divided into Nutraceutical, Pharmaceutical, Others. the Nutraceutical segment holds the largest share of the market during the forecast period.
For More Information : https://evolvebi.com/report/manuka-honey-market-analysis-and-global-forecast-2023-2033-with-covid-impact-analysis/
Regional Analysis
The Manuka Honey market is divided into five regions: North America, Europe, Asia-Pacific, South America, and Middle East, &Africa. Among these regions, North America is a prominent market for Manuka honey, driven by the increasing consumer awareness of its health benefits and the rising demand for natural and organic products. The United States, in particular, has witnessed a surge in the consumption of Manuka honey. The growing popularity of functional foods and natural remedies has fueled the demand for Manuka honey in the region. Additionally, the presence of a well-established health and wellness industry and a large consumer base seeking clean-label products contributes to the market growth in North America. The Asia-Pacific region holds immense potential for the Manuka honey market. Countries like China, Japan, and Australia have witnessed a significant rise in the consumption of Manuka honey. In Asia-Pacific, Manuka honey is not only consumed as a food ingredient but also extensively used in traditional medicine and beauty products. The region’s large population, changing dietary preferences, and increasing disposable incomes have fueled the demand for natural and organic products, driving the growth of the Manuka honey market. Moreover, the expansion of e-commerce platforms and the growing awareness of the health benefits of Manuka honey have facilitated its accessibility and availability in the Asia-Pacific region.
