Year | Value |
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2024 | USD 0.69 Billion |
2032 | USD 1.1 Billion |
CAGR (2024-2032) | 6.0 % |
Note – Market size depicts the revenue generated over the financial year
The world manuka honey market is set to grow at a significant rate, with the current market size of $69 million in 2024 forecast to reach $1.1 billion by 2032. This growth represents a compound annual growth rate (CAGR) of 6.0% during the forecast period. The major growth factor for the market is the rising awareness of the health benefits of manuka honey, especially its antimicrobial and therapeutic properties. The growing trend of organic and natural products is also driving the market. Also, the advancements in honey extraction and processing methods are contributing to the market growth, as they are improving the quality and availability of the product. The key players, such as Comvita, Manuka Health, and Wedderspoon, are actively engaging in strategic initiatives, such as product launches and collaborations, to capture a larger market share. Comvita, for example, has invested in sustainable sourcing practices and launched various manuka honey-based health supplements to meet the evolving preferences of consumers. These factors will continue to shape the market as it matures.
Regional Market Size
Manuka honey is gaining popularity across the world. This is because of the growing awareness about the health benefits, the demand for natural and organic products and the trend towards premium foods. Each region has its own cultural preferences, regulatory frameworks and economic conditions, which can influence the market. Local and large companies compete for a share of the lucrative market.
“Did you know that Manuka honey is graded based on its Unique Manuka Factor (UMF), which measures its antibacterial properties? The higher the UMF rating, the more potent the honey is considered to be.” — UMF Honey Association
The Manuka honey market is experiencing a surge in growth, with increasing consumer awareness of its health benefits and the growing demand for natural and organic products. The rising trend in the field of holistic health and well-being, as well as the growing number of chronic diseases that consumers are managing with natural remedies, is driving the market. The organic label is a source of trust for consumers and the demand for certified products is growing. In regions where the honey is produced, such as New Zealand and Australia, the market is in a mature stage of development, with the main players being Comvita and Manuka Health. The honey’s versatility is demonstrated by its use in dietary supplements, skin care products and food supplements. In addition, the pandemic flu, the emergence of a new interest in immune-enhancing products, and the emergence of a new market in the form of the organic market are all promoting growth. The development of new extraction and quality control methods is also a key factor in the market’s evolution, as these help to ensure the authenticity of the product and thus boost consumers’ confidence.
Manuka honey is expected to grow from $1.69 billion in 2024 to $2.10 billion by 2032, a robust CAGR of 6%. It is a result of the increasing awareness of the health benefits of Manuka honey, its anti-microbial properties and its potential to be used in medical applications. Health-conscious consumers are increasingly demanding organic and natural products, and Manuka honey will penetrate further into the mainstream. By 2032, the penetration rate of Manuka honey in the health food supplement market is expected to reach 15 to 20% from the current 10-12%. A key factor driving this market is the improvement in beekeeping technology and sustainable harvesting practices, which will ensure the quality and availability of Manuka honey. Also, with the support of government regulations and increased marketing and distribution channels, Manuka honey will become more widely available. The integration of Manuka honey into health food and beverages, and the use of Manuka honey in skin care products, will further increase its application and popularity. As this market evolves, it is important for industry players to keep a close eye on changes in consumer preferences and government regulations to take advantage of the growing opportunities.
Covered Aspects:Report Attribute/Metric | Details |
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Market Size Value In 2023 | USD 0.64 Billion |
Growth Rate | 7.80% (2023-2032) |
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