The scope of our recent study on the “Manuka Honey Market t2028 – COVID-19 Impact and Global Analysis– by Nature (Organic, Conventional); Type (UMF 5+/MG83 mg/kg (ppm), UMF 10+/MG263 mg/kg (ppm), UMF 15+/MG514 mg/kg (ppm), UMF 20+/MG829 mg/kg (ppm)); and Distribution Channel (Supermarkets/ Hypermarkets, Convenience Stores, Online Stores, Others ),” includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.
The manuka honey market was valued at US$ 741.69 million in 2019 and is projected treach US$ 1,238.15 million by 2028; it is expected tgrow at a CAGR of 5.9% from 2020 t2028. Manuka honey is a monofloral honey produced from the nectar of the manuka tree, Leptospermum. It has antiviral, anti-inflammatory and antioxidant benefits. Moreover, it has traditionally been used for wound healing, soothing sore throats, preventing tooth decay and improving digestive issues. Moreover, increasing demand for plant-based food provides a huge market opportunity for the key players operating in the Manuka honey market. However, rising demand for fresh food is projected tboost the overall growth of the Manuka honey market in the forecast period.
Based on nature, the Manuka Honey market is categorized intorganic and conventional. In 2019, the conventional segment held the largest share of the global Manuka Honey market. In the conventional honey processing method, the application of heat is indispensable for fast handling, dissolving large sugar granules and sustain the quality of honey. Twstages of heating used in honey production are liquefaction, tkeep honey in liquid form for as long as possible and pasteurization, tkill the yeast and other spoilage microorganisms and prevent fermentation. Both the stages are operated at a temperature of above 50°C or even up t77°C. Besides conventional treatment, alternative thermal treatment such as microwave heating and infrared heating and non-thermal treatment including ultraviolet, ultrasound, and membrane filter are implemented tassure the quality and safety aspects of honey. Therefore, the microbiological safety of the honey ensured by the conventional method coupled with an extended shelf life of honey are the factors anticipated tdrive the growth of the conventional segment during the forecast period.
The global manuka honey market is segmented intfive main regions—North America, Europe, Asia Pacific (APAC), Middle East &Africa (MEA), and South America. In 2019, North America contributed tthe largest share in the global Manuka Honey market. Several domestic and international companies have a strong foothold in the North American region. Wedderspoon Organic, Comvita, Manuka Health, and Oha Honey are among the key market players present in the North America manuka honey market. These companies are constantly working toward innovation and new product developments of manuka honey with improved tastes and qualities tattract new consumers and widen the consumer base in the region. Rapid growth in the snacking needs of children and the surge in the consumption of nutrient enriched food is fueling the growth of manuka honey market in North America. The manuka honey is used for making snacking bars whose recipes are provided by the companies. For instance, Comvita offers Sweet & Salty Manuka Magic Bars recipe.
Impact of COVID-19 Pandemic on Manuka Honey Market
The COVID-19 pandemic first began in Wuhan (China) in December 2019, and since then, it has spread at a fast pace across the world. As of April 2021, the US, India, Brazil, Russia, the UK, France, Spain, Italy, Turkey, Germany, Colombia, and Argentina are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 pandemic has affected economies and industries in various countries due tlockdowns, travel bans, and business shutdowns. The food & beverages industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, shutdown of production plants, etc., because of this pandemic. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East, and Africa has affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various goods. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition tthis, the global travel bans imposed by countries in Europe, Asia, and North America are affecting the business collaborations and partnerships opportunities. All these factors are anticipated taffect the food & beverages, personal acre, and animal feed industries in a negative manner and thus act as restraining factor for the growth of various markets related tthis industry in the coming months. The market for manuka honey is impacted by the pandemic due tshortfall in production along with limited transportation facilities.
Global Manuka Honey Market, by Nature
Global Manuka Honey Market, by Type
- UMF 5+/MG83 mg/kg (ppm)
- UMF 10+/MG263 mg/kg (ppm)
- UMF 15+/MG514 mg/kg (ppm)
- UMF 20+/MG829 mg/kg (ppm)
Global Manuka Honey Market, by Distribution Channel
- Hypermarkets and Supermarkets
- Convenience Stores
- Online Stores
Global Manuka Honey Market, by Geography
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- North America
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of Asia Pacific
- Middle East &Africa (MEA)
- South Africa
- Saudi Arabia
- Rest of Middle East &Africa
- South America
- Rest of South America