The latest report by IMARC Group, titled “Manuka Honey Market Research Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global manuka honey market is expected to exhibit a CAGR of 6.50% during 2022-2027. Manuka honey is produced from the nectar of the manuka tree and is only made in Australia and New Zealand. The main ingredient in Manuka honey is methylglyoxal. It is an antibacterial organic compound used for medicine and everyday health benefits. It offers many biological properties due to its antimicrobial and antioxidant capacities. It is one of the most unique and beneficial forms of honey worldwide. It is commonly sold as alternative medicine. Different Manuka honey uses that range from healing sore throats and digestive illnesses to curing Staph infections and gingivitis.
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Global Manuka Honey Market Trends:
The global market is primarily driven by the rising adoption of manuka honey in various confectionery and bakery applications. In line with this, the expansion of the e-commerce industry is expected to witness the highest growth in the global manuka honey market due to the shifting preference for online purchasing of manuka honey across the globe. Furthermore, the growing availability of various manuka honey products on e-commerce portals is creating a positive outlook for the market. Apart from this, a high preference for a healthy diet and increased adoption of herbal cosmetic products are other growth-inducing factors. Moreover, the high consumption of confectionery and bakery products is positively influencing the market. Besides this, key players are focusing on product innovation, better extraction methods, and expanding to newer horizons to capture the market. Additionally, rapid rise in the snacking needs of children and the surge in the consumption of nutrient-enriched food is providing a boost to the demand for manuka honey.
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Global Market Growth:
Rising healthcare concerns and increasing healthcare costs are other key factors. The shift in consumer focus for maintaining fitness and regulating the body weight leads to the escalating demand for natural food products, which propels the growth of the manuka honey market. Researchers and pharmacists across the world are working to discover the potentials of manuka honey in pharmaceutical formulations due to the improved functionalities and applicability of manuka honey, thus catalyzing the product demand. In addition, manuka honey is used as a natural ointment for all kinds of injuries and has been recognized as a go-to virus fighter in an age of resistance to traditional antibiotics.
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The competitive landscape of the industry has also been examined along with the profiles of the key players being Airborne Honey Ltd, Apihealth NZ Ltd., Arataki Honey, Comvita, Egmont Honey, Honey Australia Pty Ltd, Manuka Honey USA LLC, Nature’s Way Products LLC., Oha Honey and Wedderspoon.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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