Manuka Honey Market Analysis | Global Industry Challenges, Key Vendors, Drivers, Trends and Forecast to 2023

Market Overview:
Manuka Honey Market is projected to grow at the CAGR of 4.3%. Manuka Honey contain essential amino acids, vitamin B6, Potassium and other essential minerals which makes it consumption popularly amongst the population of health conscious consumers. Changing lifestyle and adoption of the natural honey and sweeteners consumption trend has influenced the high sale of Manuka Honey in the food industries. Increase in health awareness is having a positive impact on the Manuka Honey market based on several health benefits of manuka honey consumption and hence now is found to have increased application for medicinal purposes. Multi-purpose application of manuka honey across various industries is driving its market globally.

Heath Benefits of Manuka Honey and high anti-oxidant content imparting health benefits is estimated to spur its market growth over the given forecast period. Adoption healthy food consumption trends in the developed countries is having a positive impact on the growth of Manuka Honey market. Manuka Honey helps in improving the immune system of the body and helps to reduce instances serious illnesses which is playing a significant role in its market growth. Key Players are following strategies of merger and acquisition of small players due to high demand of the product. New Zealand and Australia are amongst the major key players exporting Manuka Honey to various countries of other regions.

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Major Key Players:
This report includes a study of strategies such as mergers and acquisitions, product launches by the major Manuka Honey market players. It further includes product portfolios, developments of leading major players which includes

The key players profiled in the global Manuka Honey Market are Manuka Health (New Zealand), Comvita Limited (New Zealand), Watson & Son Ltd (New Zealand), API Health (New Zealand), Wedderspoon (New Zealand), Mossops Honey (New Zealand), Cammells Honey (New Zealand)

Manuka Honey Market is segmented on the basis of Specialty Food Type, Application, Distribution Channel and Region. Based on the Specialty Food Type, HFCS-Free Manuka Honey is found to be escalating at a high CAGR. Amongst the various applications of the product, Direct consumption/Culinary purpose is calculated to hold a major share followed by bakery and confectionery. Amongst the distribution channel, E-commerce is anticipated to hold a large share based on consumer’s convenience.

Regional Analysis:
Manuka Honey Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Asia Pacific has the major market share followed by Europe. Based on the high nutritional value, Manuka Honey have gained popularity in various other regions.  However, the high market concentration of manuka honey only in New Zealand and neighboring countries might restrain its market growth. Germany, Japan U.S., France and U.K. are considered the major importers of Manuka Honey.

Key Findings:
Application of Manuka Honey for medicinal purpose is anticipated to have a high growth during the forecast period. Top exporters of Manuka Honey include New Zealand, Australia, China, Germany and Spain

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Segments:
Manuka Honey has been segmented on the basis of Distribution Channel which comprises Hypermarkets and Supermarkets, Convenience stores, Specialty stores, E-commerce, Others. Sale through E-commerce is found to be high. Manuka Honey has been segmented on the basis of Specialty-Food Type which Organic, Gluten-Free, GMO-Free, HFCS-Free, Others. HFCS-Free manuka honey is found to hold a major share due to its increasing health concerns among the consumers. Manuka Honey has been segmented on the basis of application which comprises Direct consumption/Culinary purpose, Bakery and confectionery, Medicinal purpose, Personal Care Products, Others. Manuka Honey application in direct consumption/Culinary purpose is holding a large share followed by application in bakery and confectionery.

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