Manuka Honey Market to Grow at CAGR of 5.9% to Reach a Worth USD 1,238.15 Mn by 2028; The Insight Partners

Manuka Honey Market: Increasing use of Manuka Honey in Medical Industry to Boost the Sector Growth

NEW YORK, NEW YORK, UNITED STATES, February 21, 2023 /EINPresswire.com/ -- The manuka honey market was valued at US$ 741.69 million in 2019, Its size is expected to reach US$ 1,238.15 million by 2028, it is registering at a CAGR of 5.9% from 2020 to 2028, according to a new research study conducted by The Insight Partners. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

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 to boost the overall growth of the Manuka honey market in the forecast period.

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Researchers and pharmacists worldwide are working to discover the potentials of manuka honey in pharmaceutical formulations due to the improved functionalities and applicability of manuka honey. The importance of organic products has been understood in the wake of alarming health issues coupled with rising consciousness about organic certifications and preference for high-quality products. The antibacterial properties of manuka honey make it a perfect component for medicines. Moreover, it 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. Manuka honey medicinal products are available in the form of tubes, tablets, capsules, soft gels, and gummies, among others. These medicinal products can treat various health-related issues, such as prevention from acne, sinus, sore throat, and treatment of a broad spectrum of surgical and chronic wounds.

Other advantages of manuka honey include clearing infections, clearing up blemishes on skin, helping heal cuts and scrapes, easing stomach aches, boosting the immune system, providing energy, and improving digestion. The manuka honey is possibly the most stimulating medical-grade products used in hospitals to skin infections and heal wounds, mainly those non-responsive to standard treatments such as bacteria that are resilient to antibiotics. Rising antibiotic resistance is currently one of the world's most prevailing human health issues. Consumer’s changing lifestyle, rising health concerns, increasing healthcare costs, and growing preference for a fit and active lifestyle are the key factors driving the demand for the manuka honey. Therefore, the robust application of manuka honey in almost all health conditions coupled with increasing consumer preference for honey to achieve an active and disease-free life, is anticipated to propel the demand for manuka honey in the medical industry in the coming years.

The players operating in the manuka honey market include Arataki Honey, Capilano Honey Ltd., COMVITA, Kirksbees Honey, Manuka Health, Midland Holdings, and Oha Honey. The key companies implement the mergers and acquisitions, and research and development strategies to expand customer base and gain significant share in the global market, which also allows them to maintain their brand name globally.

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 to lockdowns, 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 to this, 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 to affect 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 to this industry in the coming months. The market for manuka honey is impacted by the pandemic due to shortfall in production along with limited transportation facilities.

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Manuka Honey Market – by Nature
Organic
Conventional

Manuka Honey Market – by Type
UMF 5+/MGO 83 mg/kg (ppm)
UMF 10+/MGO 263 mg/kg (ppm)
UMF 15+/MGO 514 mg/kg (ppm)
UMF 20+/MGO 829 mg/kg (ppm)

Manuka Honey Market – by Distribution Channel
Supermarkets/Hypermarkets
Convenience Stores
Online Stores
Others

Company Profiles:
Arataki Honey
Capilano Honey Ltd.
COMVITA
Kirksbees Honey
Manuka Health
Midland Holdings
OHA Honey
Pure Honey New Zealand
Streamland Biological Technology Limited
Watson And Sons

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Sameer Joshi
The Insight Partners
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