Manuka Honey Market Newer Segments of Application and Forecast Till 2032 With a CAGR of 7.8%

As per detailed industry analysis by Persistence Market Research, the global Manuka Honey market is predicted to surge at 7.8% CAGR and cross US$ 1.8 Bn by the end of 2032.

Manuka Honey is a good choice for food & beverage manufacturers looking for low-calorie or calorie-free sweeteners. Growing usage of Manuka Honey as a natural, additive-free alternative solution to sweeteners is one of the potential factors driving demand from the food & beverage sector. Organic ingredient demand is at an all-time high in the food & beverage industry, and it shows no signs of slowing down. This is due to promising demand dynamics for organic products and highly strong preference for them across the world.

Besides, Manuka Honey usage in cosmetics and personal care products has been rising rapidly across the world in recent times. All in all, both, the F&B industry and the personal care sector, along with the pharma industry, will majorly drive demand for Manuka Honey over the coming years.

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Key Takeaways from Market Study
• Due to the presence of key emerging markets, South Asia, Latin America, and East Asia have the most development potential in this market, with predicted value CAGRs of 10%, 8.7%, and 8.3%, respectively.
• In terms of end-use segment, the pharmaceuticals industry and the retail/household sector have the highest potential to grow, with value CAGRs of 8.7% and 8.2%, respectively.
• Growing popularity of Manuka Honey in various end-use sectors is due to rising demand for organic and nutritional products that require similar components in their processing or production.
• Europe and East Asia dominate the global Manuka Honey market with a combined market share of more than 45%.
• Use of Manuka Honey in various personal care and cosmetic products is rising, and the segment accounts for a considerable share of the global market.
• Russia and the United Kingdom dominate the European market, while China holds more than 80% of the East Asian market share.

"Manuka Honey is used in a variety of industries, including food & beverages, cosmetics & personal care, and retail/household. However, it is expected that rising adoption of Manuka Honey in pharmaceuticals will function as a demand accelerator for market growth," says a Persistence Market Research analyst.

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Competitive Landscape
Companies are focusing on increasing their geographical presence to match the growing demand for organic and natural honey. Leading Manuka Honey manufacturers are also focusing on quality and customization to meet rising customer tastes and expectations.

• In 2019, Nature Nate's Honey Co. launched its 100% Australian raw and unfiltered honey in Australia. The company strives to enhance its regional presence and diversify its products to match the growing demand for organic and natural honey.

• Barkman Honey LLC focuses on quality and customization to meet customers' tastes and expectations. The company has state-of-the-art lab technology, which takes the honey through rigorous testing to validate its safety, security, and quality. The company also focuses on offering suitable containers, ranging from classic honey bears to innovative inverted bottles.

Explore More Valuable Insights
Persistence Market Research, in its new report, offers an impartial analysis of the global Manuka Honey market, presenting historical data (2016-2020) and estimation statistics for the forecast period of 2021-2031.

The study offers compelling insights based on type (manuka honey, sourwood honey, buckwheat honey, rosemary honey, dandelion honey, eucalyptus honey, and others), end use (food & beverages, cosmetic & personal care, pharmaceuticals, retail/household, and others), and distribution channel (business to business and business to consumer), across seven major regions of the world.

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This release was published on openPR.