The global manuka honey market is expected to display higher growth rate in the upcoming years. Rapid surge in the market is credited to the increasing number of application for medical purposes and rising distribution channels across the globe. Growing use of unconventional sweeteners and increasing the popularity of Manuka honey are expected to drive the growth of manuka honey market over the forecast period. Globally, market is predicted to generate massive revenue over the forecast period, providing numerous opportunities for industry participants to invest in research and development of manuka honey.
Manuka honey is a monofloral honey, which is derived from the fluid of the manuka tree, also called as Leptospermum scoparium. Increasing use of honey in traditional culture as an alternative medicine is expected to gain momentum over the coming years. In addition, recent research activities shows potential use of manuka honey for antibacterial medicines, thereby propelling market growth over the coming years.
HFCS-free manuka honey is gaining widespread popularity among consumers across the globe due to rising demand for chemical free honey products. HFCS-free manuka honey currently holds a major share and is estimated to rise over the coming years. The swift rise in demand of manuka honey is credited to the increasing awareness regarding the severe effect of consumption of high fructose corn syrup. Subsequently, organic manuka honey has gained a wide recognition over the past few years.
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The manuka honey market is broadly categorized into major segments based on the application type such as food & beverage industry, cosmetics sector, nutraceuticals/natural health and medical product categories. Medical segment is growing rapidly in the market with substantial revenue generation in the last few years. Growing popularity of manuka honey segment is attributed to the increasing product penetration and rising number of online distribution channels.
The manuka honey market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in awareness level among general population, increasing import & export activities in the region, and development of advanced packaging techniques.
Asia-Pacific region is estimated to hold a major share in the manuka honey industry with massive growth in forecast period. Countries such as Australia, New Zeeland and Indonesia are leading the Asia-Pacific market with increasing product availability, growing use of manuka honey in traditional cuisines, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the manuka honey market are Comvita Ltd., Watson & Son Ltd., Manuka Health Ltd., API Health Ltd., Wedderspoon Ltd., Mossop’s Honey Ltd., and Cammells Honey Co.
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