Manuka Honey Market Size, Share and Growth Factors Study

Manuka Honey Market to reach over USD 729.63 Mn by the year 2031 - Exclusive Report by InsightAce Analytic

"Manuka Honey Market" in terms of revenue was estimated to be worth $483.31 Mn in 2023 and is poised to reach $729.63 Mn by 2031, growing at a CAGR of 5.43% from 2024 to 2031, according to a new report by InsightAce Analytic.

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Latest Drivers Restraint and Opportunities Market Snapshot:

Key factors influencing the global Manuka Honey Market are:
• Health and Wellness Trends
• Increasing Awareness.
• E-commerce and Online Retailing.

The following are the primary obstacles to the Manuka Honey Market's expansion:
• Limited Geographical Origin.
• Adulteration Concerns.
• Competition from Substitutes.

Future expansion opportunities for the global Manuka Honey Market include:
• Increasing Consumer Awareness.
• Expansion of Distribution Channels.
• Quality Assurance and Certification.

Market Analysis:

The Manuka honey market has witnessed significant growth driven by increasing consumer awareness of its unique health benefits and natural properties. The market's expansion is further fueled by product innovation, with a diverse range of Manuka honey-infused products entering the market, from skincare items to health supplements. Quality assurance and certification, particularly through grading systems like the Unique Manuka Factor (UMF), have become focal points, enhancing consumer trust.

List of Prominent Players in the Manuka Honey Market:
• Manukora Limited
• Comvita Limited
• Arataki Honey Ltd.
• Egmont Honey
• Manuka Pharm
• Manuka Doctor
• Airborne Honey Ltd.
• Wedderspoon Organic.
• Steens Honey
• Happy Valley Honey
• WildCape Manuka Honey.
• Midlands Apiaries Ltd.
• New Zealand Honey Co.
• Three Peaks Manuka Honey
• Manuka Lab

Manuka Honey Market Report Scope:

Report Attribute Specifications
Market size value in 2023 USD 483.31 Mn
Revenue forecast in 2031 USD 729.63 Mn
Growth rate CAGR CAGR of 5.43% from 2024 to 2031
Quantitative units Representation of revenue in US$ Million, and CAGR from 2024 to 2031
Historic Year 2019 to 2023
Forecast Year 2024-2031
Report coverage The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends
Segments covered By Type, Nature, Application
Regional scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Recent Developments:
• In January 2024, Egmont Honey Roasted Peaches. Delicious served with some marscapone or vanilla bean ice cream.
• In March 2023, 5 healthy habits for long-term well-being. They also explored five essential habits and discovered how they can positively transform our lives.
• In February 2021, Buhler introduced a new method that improves the efficiency of extracting plant-based proteins, including soy protein.

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Manuka Honey Market Dynamics:
Market Drivers: Rise in Plant-Based Diets
The rise in plant-based diets is exerting a transformative influence on the food and beverage market, driving a shift towards plant-centric products. The increasing adoption of plant-based diets, driven by concerns for health, environmental sustainability, and animal welfare, has created a burgeoning market for plant-based alternatives. This trend is evident across various categories, including plant-based meats, dairy substitutes, and plant-derived protein sources.
Challenges: Limited Geographical Origin
The Manuka honey market faces constraints due to its limited geographical origin, primarily produced in specific regions of New Zealand and parts of Australia where the Manuka bush thrives. This geographic restriction poses challenges related to the scalability of production and meeting the increasing global demand for Manuka honey. The limited availability of suitable climates for Manuka bush cultivation restricts the potential for expansion beyond these regions, creating supply-side constraints.
North America Is Expected To Grow With The Highest CAGR During The Forecast Period
This surge is driven by a confluence of factors, including an increasing awareness of health and wellness, a rising preference for natural and organic products, and a growing population embracing sustainable and plant-based lifestyles. Consumers in North America are displaying a heightened interest in specialty and premium food items, and the unique properties of Manuka honey align well with these evolving preferences. Additionally, strategic marketing efforts, product innovations, and a robust distribution network are contributing to the heightened demand for Manuka honey in the region.
Segmentation of Manuka Honey Market-
By Type-
• UMF 5+
• UMF 10+
• UMF 15+
• UMF 20+
By Nature-
• Organic/Natural
• Conventional
By Application-
• Nutraceutical
• Pharmaceutical
• Cosmetic And Personal Care
• Others
• Food And Beverages
o Beverages
o Dairy products
o Bakery and Confectionary
o Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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This release was published on openPR.