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.
NEW YORK, UNITED STATES, November 18, 2021 /EINPresswire.com/ — According to The Insight Partners study on “Manuka Honey Market Forecast to 2028 – COVID-19 Impact and Global Analysis – Nature (Organic, Conventional); 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)); and Distribution Channel (Supermarkets/ Hypermarkets, Convenience Stores, Online Stores, Others ),” the market was valued at US$ 741.69 million in 2019 and is projected to reach US$ 1,238.15 million by 2028; it is expected to grow at a CAGR of 5.9% from 2020to 2028.The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Report Coverage Details
Market Size Value in- US$ 741.69 Million in 2019
Market Size Value by- US$ 1,238.15 Million by 2028
Growth rate- CAGR of 5.9% from 2020-2028
Forecast Period- 2020-2028
Base Year- 2020
No. of Pages- 151
No. Tables- 82
No. of Charts & Figures- 80
Historical data available- Yes
Segments covered- Nature , and Distribution Channel
Regional scope- North America; Europe; Asia Pacific; Latin America; MEA
Country scope- US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage- Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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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.
manuka honey is used for skincare purposes as it helps reduce inflammation and irritation associated with acne. Consumers directly apply a thin layer of manuka honey to the affected area of the skin. The rising prevalence of diseases due to unhealthy lifestyle has increased the awareness regarding healthy diets and the prevention of health disorders such as diabetes, stroke, heart diseases, and obesity. An upsurge in the number of people suffering from celiac diseases results in the increasing demand for gluten free products. Consumers are becoming aware about the ill effects associated with gluten consumption; therefore, they are increasingly opting gluten-free products such as manuka honey. Therefore, all these factors are driving the growth of the manuka honey market
Effect of COVID-19 on Manuka Honey Market
As of March 2020, the US, Brazil, India, Russia, Spain, and the UK are among the worst-affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The food and beverage industries are one of the significant sectors suffering from severe disruptions such as supply chain breaks, shutdown of production plants, etc., because of this outbreak. Asian countries are the global hub of food and beverage, and they are among the largest raw material suppliers for various industries.
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Based on nature, the Manuka Honey market is categorized into organic 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. Two stages of heating used in honey production are liquefaction, to keep honey in liquid form for as long as possible and pasteurization, to kill the yeast and other spoilage microorganisms and prevent fermentation. Both the stages are operated at a temperature of above 50°C or even up to 77°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 to assure 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 to drive the growth of the conventional segment during the forecast period.
Manuka Honey Market: Competitive Landscape and Key Developments
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 are among the key players in the global Manuka Honey market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
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Manuka Honey Market Forecast to 2028 | Demand and Opportunity
Source: EIN Presswire