Global Manuka Honey Market is estimated to reach USD 890.4 billion in 2018 and is expected to register 6.3% CAGR during the forecast period, 2019 to 2024.
Due to the large number of health benefits associated with manuka honey consumption, the market is growing at an incremental pace of development globally. Health awareness and high demand for natural sweeteners have increased the demand for manuka honey on a global level. The sector is driven in a major way based on the essential amino acids, vitamin B6, Potassium and other essential minerals content of the product. Health benefits gained out of manuka honey consumption are the main drivers to the development of this segment. Application of manuka honey in the personal care products is also adding fuel to the growth of this market.
Health factors like reducing high cholesterol level, diabetes, gastrointestinal problems can be effectively addressed with the incorporation of manuka honey into daily diet. Increase in wellness sector awareness has enhanced the market growth trajectory of this sector to an elevated level. Rise in health awareness has led to consumers demanding manuka honey across the countries. Based on all the beneficial properties obtained out of it, manuka honey is now addressed as a “superfood” globally.
Established players as well as new players are found to enter the Manuka Honey Market Analysis based on the rising demand for the product on a global level. Established players in the manuka honey market are concentrated in New Zealand and Australia and are highly extending their reach based on escalating cross country demand. The best long-term growth opportunities in this sector would be gained by ensuring quality product to the consumers and continued indulgence in the R&D activities.
The key players profiled in Manuka Honey Market Analysis are Comvita Limited (New Zealand), Watson & Son Ltd (New Zealand), Manuka Health (New Zealand), API Health (New Zealand), Wedderspoon (New Zealand), Mossops Honey (New Zealand), and Cammells Honey (New Zealand) among many others.
Global Manuka Honey Market has been divided into specialty-type, application, distribution channel and region.
On The Basis Of Type: Organic, and Conventional
On The Basis Of Application: Direct consumption/Culinary purpose, Foods & Beverages, Medicinal purpose, Personal Care Products, and Others
On The Basis Of Distribution Channel: Store based, Non-store based
On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.
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Global Manuka Honey Market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global manuka honey market is highly dominated by APAC due to high production of manuka honey in New Zealand and Australia. APAC is also considered to be the fastest growing region due to increasing health awareness and consumers high inclination towards healthy life-style. The consumption of manuka honey in developing counties like India, Brazil, and China is expected to grow in the upcoming years.
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