Press release
Manuka Honey Market Report on the Untapped Growth Opportunities in the Industry
The Manuka Honey is estimated to reach over USD 729.63 Mn by 2031, exhibiting a CAGR of 5.43% during the forecast period.
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European honeybees (Apis mellifera), which pollinate the flowers of the manuka bush, produce manuka honey by collecting nectar from the manuka tree. As it is primarily derived from the nectar of a single plant species and predominantly produced in New Zealand and Australia, it is classified as a monofloral honey. Manuka honey is utilized across a diverse range of industries, including food, cosmetics, and personal care. In recent years, shifts in consumer lifestyle and dietary patterns have become increasingly evident, driven by rising awareness of health issues such as obesity and cardiovascular diseases-particularly among children and adolescents.
This growing consciousness has led to a heightened preference for health-promoting food products. The global demand for manuka honey continues to rise, largely due to its reputed health benefits. These include support for respiratory health, prevention of oral infections, and immune system enhancement. As a result, the product is gaining traction across various sectors, including food and beverage, household, cosmetic, and personal care industries.
List of Prominent Players in the Manuka Honey Market:
• Manukora Limited
• Comvita Limited
• Arataki Honey Ltd.
• Egmont Honey
• Manuka Pharm
• Manuka Doctor
• Airbone 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
Market Dynamics:
Drivers-
Scientific research has extensively validated the antimicrobial properties of manuka honey, which are highly esteemed across various sectors. It contributes to improved metabolism, soothes sore throats, supports skin health, and plays a crucial role in wound healing. Numerous studies have shown that manuka honey accelerates tissue regeneration, expedites the healing process, and alleviates pain in burn patients. Additionally, it is beneficial for dental health, as it combats harmful oral bacteria responsible for plaque formation, gum disease, and tooth decay.
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Challenges:
A significant challenge facing the manuka honey market is the increasing imbalance between demand and supply, particularly in developing regions, which is expected to hinder market growth. The high costs associated with domestic production further constrain the global market's expansion. Although rising demand encourages efforts to overcome regional production limitations, challenges persist in scaling operations to meet quality expectations. The market requires the participation of larger, established players across different regions to fulfill the rising demand for premium-quality products.
Regional Trends:
The Asia-Pacific region is projected to hold a substantial share of the global manuka honey market and is anticipated to experience significant growth in the near future. Urbanization and the expanding middle class in both developed and emerging nations are key drivers of this growth. Increasing health consciousness among consumers is expected to further accelerate market expansion. The rising demand for nutrient-rich foods, coupled with lifestyle changes influenced by a fast-paced environment and heightened health awareness, has notably boosted consumption patterns. These factors are collectively fostering the expansion of the manuka honey market across the Asia-Pacific region.
Recent Developments:
• In March 2021, Comvita released its limited-edition Special Reserve UMF 25+ Manuka Honey. The rarest honey in the world gives individuals a moment of delectable delight while also bringing them closer to nature.
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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 the Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.JPG
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