Manuka Honey Market Size, Share and COVID 19 Impact Analysis, By Type (UMF 5+, UMF 10+, UMF 15+ and UMF 20+), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Online Stores, and Convenience Stores), and Regional Forecast, 2023-2030

The manuka honey market size was valued at USD 366.22 million in 2022 and is projected to grow from USD 381.09 million in 2023 to USD 528.24 million by 2030, exhibiting a CAGR of 4.78% during the 2023-2030 forecast period.

Manuka honey is a premium quality honey produced from the nectar of the Manuka trees or flowers, majorly found in New Zealand and Australia. This honey is strongly distinct from other types of honey due to the presence of the key active ingredient, methylglyoxal. Moreover, the pure honey imparts a deeper, earthier, and more viscous flavor and exhibits the highest range of phenolic and antioxidant properties compared to the other grades of honey. Thus, owing to its antiviral, antioxidant, and antibacterial attributes, the Manuka honey has emerged as one of the most suitable options for medical treatments in the pharmaceutical industry. Besides this, it is also utilized in the food & beverage industry due to its rich caramel-like flavor, which will fuel the Manuka honey market growth.

COVID-19 IMPACT

Increasing Consumption of Natural Sweeteners Due to Their Health Benefits Propelled Market Growth

The COVID-19 pandemic affected almost all the economies and industries in several countries due to the lockdown restrictions, transportation bans, and business shutdowns. Out of all, food processing is one of the most crucial sectors, which suffered from numerous disruptions, such as supply chain breakdowns and shutdown of manufacturing plants, which hampered the production rate. Along with this, the dip in international demand forced a majority of beekeepers to stockpile the product due to the rising export costs. This scenario led to the poor sales of natural sweeteners. However, the surging awareness regarding health and fitness among people, primarily due to the fear of contracting the COVID-19 virus, led to a change in their diet, thereby resulting in a higher uptake of natural and high-quality products. A government agency named New Zealand Trade and Enterprise in 2020 stated that the exports of Manuka honey from New Zealand to the U.K. grew from USD 20 million in 2019 to USD 42 million in 2021. Other factors, such as rising purchasing power and growing awareness about product quality will also facilitate its usage in different fields. Although, the demand for honey was low as compared to that before the pandemic, the market was still trying to achieve the same pace of growth by launching new products and investing in collaborations, which would help it attain strong growth in the future.

LATEST TRENDS

Surging Use of Natural Sugar Alternatives across Industries to be a Prominent Market Trend

Manuka honey has emerged as one of the healthiest and most versatile natural sweeteners compared to other forms of sugar. This product is majorly used for medicinal purposes, but consuming it specifically for its flavor profile is the most productive way of consuming it. Nowadays, increasing focus on reducing the consumption of artificial sugars has paved the way for the growth of natural sweeteners. By spreading it on toast, ice creams, and yogurts, the role of this authentic honey has been significantly growing across the food & beverage industry. Thus, the key food manufacturers are working on introducing more “food-grade” honey options. However, this premium honey also contains a considerable amount of sugars. But alongside fructose and glucose, this product also offers high levels of methylglyoxal, an antibacterial compound, thus, making it one of the most powerful ingredients which can be used in an ample number of applications.

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DRIVING FACTORS

Rising Use of Natural Honey in Medical Industry to Fuel its Consumption Rate

Since ancient times, honey has been majorly used as a medicine due to its numerous therapeutic properties. One of the common and most persistent remedial uses of honey has been recognized in wound dressing, primarily due to its antibacterial properties. Due to this, Manuka honey is also successfully used in wound dressing as it helps maintain a moist environment for the wound and facilitates the healing process of deep injuries. Moreover, this honey also provides several advantages to the consumers by minimizing the risk of gastric ulcers and strengthening the digestive system. In addition, according to different research articles, this product is highly effective in treating antibiotic-resistant infections, which in turn, increases its usage. Thus, due to these benefits, the launch of new medical grade honey can be an effective way to mend skin lesions, which will further boost the market’s growth. For instance, in January 2023, Manuka Guard, a U.S.-based enterprise, introduced the latest range of “medical-grade products,” which includes nasal sprays, cough & throat syrup, along with pots of edible honey. This product is specifically used for improving the immunity of customers and reducing their risk of contracting communicable diseases.

Rising New Product Launches in Developed and Developing Countries to Boost Market Potential

In the past few years, sucrose and other synthetic sweeteners have witnessed a notable reduction in their demand as food ingredients due to their negative impact on health. The surging focus on healthy immunity and increasing demand for natural sweeteners in supplements and other health drinks is directly fueling their production rate. Other significant factors responsible for boosting the market’s growth are the surging percentage of the obese population who are seeking medical treatment and finding healthier alternatives to sugar. Thus, the companies are diversifying their product portfolios by introducing a new line of healthy products. For instance, in January 2023, Nature Nate’s Honey Co., a renowned firm based in the U.S., announced the launch of new Manuka-based honey, “Nate’s Honey”. The product is easily available in two bottle options and three levels of strength. The squeeze bottle is available in different options, such as 83+ MGO, 144+ MGO, and 263+ MGO across the U.S. market and online retail channels.

In addition, the market is witnessing major traction for organic products in both developed and developing countries, such as the U.S., India, and others. For instance, in May 2023, Hinterland Foods Ltd., a New Zealand-based company, announced the launch of Certified Organic Raw Manuka Honey, especially for the U.S. consumers. The range includes Certified Organic Raw Honey UMF 5+, UMF 10+, UMF 15+, and UMF 20+.

RESTRAINING FACTORS

Challenges in Extraction and Processing of Manuka Honey to Affect Its Production Rate

One of the major restraints faced by consumers is the high price of Manuka honey, which can dramatically decrease its adoption. This premium quality honey has always been expensive as compared to other types of honey as it is rare and majorly restricted to New Zealand and Australia. Moreover, this variety of honey has been gaining immense popularity in the last few years, and thus the beekeepers are trying to increase the production capacity to fulfill the consumer demand. Another restraint is the limited bloom period of manuka flowers, which ranges from around 2 to 6 weeks each year, between November and January. Owing to such factors, the bees have only 12 days to collect the nectar and produce honey for the entire year. Also, due to the remote locations of the majority of the hives, the process of harvesting is highly tedious, and many of the fields can only be covered by helicopters. Thus, the abovementioned factors are responsible for the high price of the product and can hinder the market growth.

SEGMENTATION

By Type Analysis

UMF 5+ to Lead Market Owing to its Economical Affordability

Based on type, the market is segmented into UMF 5+, UMF 10+, UMF 15+, and UMF 20+. The UMF 5+ segment led the market with the maximum share of around 34.36% in 2022. Owing to its wide availability and affordability, UMF 5+ type of honey has been recognized as one of the most widely consumed types of honey, which can be used for daily purposes. This type of honey falls under the category of “low grades”, which states that it’s safe for daily ingestion. Incorporating such high-quality honey in daily diet provides infinite advantages, ranging from improved wound healing to enhanced immunity, which will further facilitate the segment’s growth.

The UMF 10+ segment is also expected to experience soaring growth in the future due to its increasing usage in food and beverages, as well as other sectors, such as nutraceuticals and personal care products.

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By Distribution Channel Analysis

Supermarkets/Hypermarkets Sector to Hold Maximum Market Share due to Their Vast Presence

Based on distribution channel, the market is divided into supermarkets/hypermarkets, specialty stores, online stores, and convenience stores. The supermarkets/hypermarkets segment held the largest market share by generating the highest revenue in 2022. This distribution channel remains a popular destination for gourmet honey as it offers a wide range of options, for both food preparation and medicinal purposes. Also, the surging demand of natural sweeteners, owing to the rising health awareness, which further increases the availability of such products across the supermarkets. The giant supermarkets, such as Target, Walmart, and Kroger keep all the grades of honey, which will also help the segment grow. Other advantages such as easy accessibility, improved consumer service and easy availability, also helps in fueling the segment’s momentum.

The online segment is also growing at a higher pace and is expected to boost the market’s growth as consumers are looking for more options to buy their preferred honey product from the comfort of their home. Furthermore, startups and new entrants are opting for e-commerce channels to launch their products. These instances will help the segment expand.

REGIONAL INSIGHTS

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Europe is one of the largest producers of Manuka-based honey products, which was valued at USD 132.84 million in 2022. In this region, several countries, such as the U.K., Germany, and others import a large amount of Manuka-based honey from the major producer, New Zealand, which will increase its utilization rate. Nowadays, consumers are becoming label-conscious and looking for products which are made of natural ingredients. Thus, such demands will fuel the usage of this product in all sectors, ranging from food to pharmaceuticals to personal care. In addition, the higher spending power of European consumers as well as the strong penetration rate of online retail channels are contributing to the regional market’s strong momentum.

Asia Pacific is the second leading market, generating around USD 90.78 million in 2022. The regional market consists of developed and developing countries - China, India and Japan, which are responsible for showcasing numerous opportunities for the giant players in the Asia Pacific market. These countries (China and Japan) witness a high demand for natural and organic products, due to the increasing levels of disposable income and health concerns, which further influences the established key players to invest in the production of Manuka honey. In recent years, the regional market has witnessed a drastic shift in the eating preferences of its population due to rising wellness concerns. This factor is also anticipated to enhance the consumption of authentic sweeteners in the coming years.

North America also recorded strong growth in the global market, majorly due to the increasing government initiatives to spread awareness regarding the health benefits of this type of honey and the presence of large key players across the region. The Rest of the World includes Brazil and Saudi Arabia, which is also likely to witness a fast-paced growth in the forthcoming years due to the entry of new players and rising urbanization rate.

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KEY INDUSTRY PLAYERS

Key Players Are Launching Innovative Products to Attract the High Consumer Base

Some of the major players operating in the market include COMVITA, Arataki Honey, and New Zealand Honey Co., among others. The companies are majorly focusing on broadening their customer base by launching novel products and collaborating with large business stakeholders, which can help them in expanding their profits. In addition, the growing focus of key market players on expanding their production facilities will further enhance the growth of the market.

List of Key Companies Profiled:

• COMVITA (New Zealand)


• Arataki Honey (New Zealand)


• New Zealand Honey Co., (New Zealand)


• Steens Honey (New Zealand)


• HAPPY VALLEY HONEY (New Zealand)


• Mother Earth Manuka Honey (New Zealand)


• KIVA Health Food (U.S.)


• KARE (New Zealand)


• Manuka Health New Zealand (New Zealand)


• Mount Somers (New Zealand)

KEY INDUSTRY DEVELOPMENTS:

• March 2023: COMVITA, a global leader in the honey market, introduced its new line of “Comvita Kids Yummy Honey,” along with the Comvita UMF 5+ Honey Squeeze bottles. With these new launches, the company is focusing on broadening its consumer base by attracting young Manuka enthusiasts by providing a delicious way to enjoy numerous benefits of the natural superfood.


• March 2023: Honeydrop Beverages, the U.S.-based leading supplier of honey-infused beverages, launched its latest line of wellness shots infused with Manuka honey. This range of around 2oz. shots comes in four new flavors - Restore, Immunity, Boost, and Detox - each pack consists of a unique combo of functional ingredients.


• June 2022: Manuka Ltd., a U.K.-based firm, announced its entry into a share exchange agreement for the acquisition of Artemis Therapeutics Inc., a renowned company in the U.S., for around USD 92.4 million in a reverse merger transaction. Under this agreement, the latter company acquired all the shares of Manuka from its shareholders in exchange for USD 92.44 million shares.


• January 2021: Manuka Royale also introduced its newly crafted and highly sustainable pure honey, known as “Manuka Royale”, which claims to contain all the essential nutrients required to build a healthy lifestyle.


• February 2019: SWISSE WELLNESS PTY LTD. announced the launch of its chewable tablets of Vitamin C + Manuka Honey, which are easy to consume. These chewables comprised lemon and acerola cherry extracts, which can help in supporting the immune system.

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