The global Manuka Honey market generated revenue of around USD 550.4 million in 2020 and anticipated to grow at a CAGR of over 7.5% during the forecast period from 2021 to 2027 to reach around USD 915.5 million in 2027.
Manuka honey is a monofloral honey produced from the nectar of the manuka tree, Leptospermum. It is native to New Zealand and blooms just 2-6 weeks per year. Manuka Honey can only be produced in areas abundant with native Manuka blossoms, which is why our hives are located in some of the most remote, untouched parts of New Zealand.
Key Trends in Global Manuka Honey Market
Incorporation in Natural Personal Care Product
Manuka honey has a lower fat content and is widely used in the food industry. Manuka honey has antibacterial properties that aid in the production of cytokines, as well as a high nutrient profile that boosts human immunity. Honey’s anti-oxidant and anti-inflammatory properties make it suitable for topical application in the treatment of eczema and acne. With the growth of developing economies and an increase in disposable income, there has been an increase in demand for beauty products. Rising demand for herbal and natural ingredients has created a market opportunity for manuka honey.
Impact of COVID 19 on Global Manuka Honey Market
COVID 19 situation has affected various industries in various ways. There are hardly any industries which were not affected by the COVID 19 pandemic. The demand for manuka honey was affected during the COVID 19 pandemic. Various rules and regulations regarding the lockdown and trade are anticipated to mainly affect the growth of the manuka honey market in COVID 19. The regulations regarding to the production units in various regions have hampered the growth of the manuka honey market.
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Global Manuka Honey Market by Type Insights
UMF 5+, UMF 10+, UMF 15+, UMF 20+ and others are main types of manuka honey market. UMF 15+ is anticipated to dominate the market owing to its anti-bacterial property and effective drug-resistant strains.
Global Manuka Honey Market by Nature Insights
The manuka honey market is divided into conventional and organic segments based on nature. Because people prefer to buy organic products for their health, the organic segment is expected to grow faster. The growing awareness of the benefits of organic products is also expected to fuel market growth.
Global Manuka Honey Market by Distribution Channel Insights
Based on distribution channel, the manuka honey market is segmented B2B and B2C. B2C segment is further sub-segmented into Hypermarkets/Supermarkets, Convenience Stores, Specialty Stores and E-Retail. B2C segment is anticipated to dominate the distribution channel segment owing to the rapid increase in demand for manuka honey.
Global Manuka Honey Market by End-user Insights
Global Manuka Honey market is segmented based on end-user industries such as Food & beverage industry, Bakery & Confectionery, Pharmaceuticals, Cosmetics & Personal Care and Others. Cosmetics and Personal care segment is expected to show high growth rate in the forecast period owing to the increase in the use of natural products.
Global Manuka Honey Market by Regional Insights
Asia Pacific is the largest market for Manuka Honey, accounting for approximately 35% of total revenue generated. Manuka honey production in New Zealand and Australia is primarily fueling the growth of the Asia Pacific market. The use of manuka honey for its various benefits is also fueling demand for the manuka honey market in Asia Pacific. Because of the increased use of manuka honey in various industries such as food, cosmetics, pharmaceuticals, and so on, America is expected to grow at a rapid pace.
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Global Manuka Honey Market by Type, 2015 – 2027
Global Manuka Honey Market by Nature, 2015 – 2027
Global Manuka Honey Market by Distribution Channel, 2015 – 2027
Global Manuka Honey Market by End User, 2015 – 2027
Global Manuka Honey Market by Region, 2015 – 2027
Global Manuka Honey Market: Key Players
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