In the past few decades, sucrose and artificial sweeteners have lost favor as food additives because of their negative effects on health. Sugar alternatives, especially natural sweeteners, are becoming more & more popular among consumers for many reasons. One of the significant factors behind this is the rising number of individuals who are obese and seeking medical attention as well as looking for healthier alternatives to sugar. The market is increasing due to the wide variety of products that are readily available and their ability to give food and beverage (F&B) products a desirable taste.
Manuka honey is made from the nectar of the Leptospermum scoparium shrub or tree, which belongs to the Myrtaceous family. Its primary element is methylglyoxal, an organic compound with antibacterial properties and numerous health benefits. Manuka honey is distinguished by its antioxidant properties, as well as its sweetness and efficacious flavors. Methylglyoxal, an enzyme substrate found in manuka honey, is resistant to heat, light, and bodily fluids. Manuka honey is assumed to be superior to other types of honey because methylglyoxal is stable, unlike hydrogen peroxide, which evaporates quickly in the body.
According to a recent report published by Allied Market Research, the global manuka honey market is projected to grow at a noteworthy CAGR from 2022 to 2031.
Surge in Consumption of Organic Products to Aid the Global Market Growth-
Organic goods have seen a significant increase in demand in the recent years, particularly in developed markets. The demand for organic products is the highest among health-conscious consumers, which is fueling the growth of natural products. The use of organic products in supplements and health drinks is rapidly becoming a popular market trend in different economies. For instance, a Singapore-based company introduced a new product called “honey Exir.” The product is being promoted as a supplement that can contribute to maintaining cholesterol-free health.
Furthermore, it is also anticipated that increasing support for organic food production from associations like the National Organic Value Chain Association (NOVCA) and the National Beekeepers Association (NBA) will help organic product sales.
Increasing Product Use in Drug Production to Support Market Growth-
Honey has potential therapeutic effects because it contains a variety of minerals, enzymes, amino acids, and other nutritional components. As a result, it is becoming extremely prevalent in the pharmaceutical sector. The product has become a prominent component in cough syrups due to its antibacterial qualities and capacity to serve as a demulcent. This is one of the primary drivers of growth in the global market for manuka honey.
Ayurveda, an Indian natural medicine system, uses honey as one of its main components or products. Honey is effective in treating a number of diseases and health issues, including indigestion, insomnia, sore throats, skin-related issues, and others. The Ayurvedic medical system has gained popularity worldwide in the COVID-19 post-pandemic era due to its massive success and lack of side effects in treating specific medical conditions.
The market for manuka honey is experiencing a significant increase in demand, and as a result, the leading companies in this industry are placing their emphasis on distinguishing their offerings from competitors and targeting more affluent customers. There are numerous approaches to distinguish a product from others, such as utilizing different components, sourcing raw materials from various places, employing distinctive packaging methods, using diverse types of honey, targeting specific demographics, and catering to specific usage scenarios. Leading companies in the market are releasing new products, strategies, collaborative partnerships, and other tactics to achieve market growth. For example, Comvita Limited, one of the key players in the global market, uses a variety of strategies to establish and maintain its prominence among consumers.
Comvita released its Special Reserve UMF 25+ (MGO 1200+) Manuka Honey in March 2021. This rarest honey in the world gives people a taste of delicious pleasure while also bringing them closer to the power of nature.
One of the leading manufacturers of natural sweeteners and honey in the market, Sweet Harvest Foods Inc., purchased McKinney-based Nature Nate’s Honey Co. in January 2022. Through retail stores across the nation, consumers can purchase Nature Nate’s raw, unprocessed, and 100% pure honey.
In January 2022, Tayima Foods announced the release of I’M HONEY, a brand-new product that is 100% organic and raw honey. The product comes in a specific flavor and has a high medicinal value. The product was made available through no-contact retail kiosks and on Amazon as part of the digital India program’s launch.
Narendra Singh Tomar, India’s Union Agriculture Minister, launched “Amul Honey” in September 2021. The National Bee Board and Gujarat Cooperative Milk Marketing Federation Ltd. collaborated to produce and market this newly introduced honey product.
COVID-19 Impact on the Global Manuka Honey Market-
The outbreak of the pandemic has had a mixed impact on the manuka honey market. The government issued several lockdown guidelines that caused disruptions in the transportation system. Many companies even delayed plans for product development due to labor shortages and trade restrictions. The market for this particular product has significant potential for growth due to its perceived health benefits, which has resulted in a remarkable surge in sales in various countries. As a result, companies have experienced a notable upswing in their quarterly revenues. For instance, during its first quarterly report in July 2020, Dabur India Limited revealed that sales of its immunity products, Dabur Honey and Dabur Honitus increased by 80% and 60%, respectively.
Even after the pandemic, there has been a high demand for products that promote healthy immunity, which has increased the market revenue. This product is becoming more popular throughout the globe because of its antiviral, antifungal, and antibacterial qualities. Due to these factors, the manuka honey market has received a significant boost.
