North America Manuka Honey Market
The North America region consists of developed economies such as the US, Canada, and Mexico. Several domestic and international companies have a strong foothold in the North American region. wedderspoon organic, comvita, manuka health, and oha honey are among the key market players present in the North America manuka honey market. These companies are constantly working toward innovation and new product developments of manuka honey with improved tastes and qualities to attract new consumers and widen the consumer base in the region. 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 in North America. The manuka honey is used for making snacking bars whose recipes are provided by the companies. For instance, comvita offers Sweet & Salty manuka magic bars recipe. The US is a major market for manuka honey in the North America region, followed by Canada and Mexico. The increase in consumer focus for maintaining fitness and regulating the body weight leads to the increasing demand for natural food products, which propels the growth of the manuka honey market. The presence of modern retail outlets such as supermarket & hypermarket in the US and Canada favors the market for manuka honey in these countries.
The US has the highest number of confirmed cases of coronavirus, as, compared to Canada and Mexico. This is negatively impacting the food and beverages industry in the region as the COVID-19 pandemic negatively affects the supply and distribution chain. The ongoing pandemic has drastically altered the status of the manuka honey industry has negatively impacted the growth of the market. The COVID-19 outbreak has distorted operational efficiency and disrupted the value chains due to the sudden closure of national and international boundaries, creating revenue loss and damage. The disruptive value chain has had a negative impact on raw material supply, which, in turn, is impacting the growth of the manuka honey market. However, as the economies are planning to revive their operations, the demand for manuka honey is expected to rise. Although the focus over just-in-time production is another concerning factor hindering market growth. With the growing consciousness towards health amongst consumers and diversification of application bases in post-pandemic times, the demand for manuka honey is expected to take huge leaps.
Strategic insights for the North America Manuka Honey provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 248.74 Million |
| Market Size by 2028 | US$ 409.83 Million |
| Global CAGR (2020 - 2028) | 6.4% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2028 |
| Segments Covered |
By Nature
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Manuka Honey refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The manuka honey market in North America is expected to grow US$ 409.83 million by 2028 from US$ 248.74 million in 2020. The market is estimated to grow at a CAGR of 6.4% from 2020 to 2028. The demand for manuka honey is extensively growing owing to the increasing import rate among countries such as the US, Mexico and Canada. Therefore, these countries hold a significant share of the North America manuka honey market. The highest paying markets are, Canada and the US, where they spend relatively more, in comparison to others. The top ten export destinations make up 95% of total export earnings. However, there is a plenty of growth opportunities among untapped countries across the world. Rising awareness about the benefits of manuka honey is anticipated to boost the demand for various products made up of this honey in distinguished applications, such as cosmetics, medicines, food and beverage. The high disposable incomes of consumers in untapped countries with rising awareness regarding the health benefits of manuka honey is resulting in the large consumer inclination toward a healthy lifestyle, which in turn, is encouraging manufacturers to market these products in the untapped countries. Prospects in the countries remain strong and are driven by familiar megatrends such as rising incomes and urbanization. Therefore, these factors are expected to create a lucrative opportunity for market growth in the untapped countries.
North America manuka honey market is segmented based on nature, type, and distribution channel Based on nature, the North America manuka honey market based on nature is segmented into organic and conventional. The conventional segment accounted for the highest share in the market in 2019 and organic segment is expected to be fastest growing during forecast period. Based on type, is segmented into UMF 5+/MGO 83 mg/kg (ppm), UMF 10+/MGO 263 mg/kg (ppm), UMF 15+/MGO 514 mg/kg (ppm), and UMF 20+/MGO 829 mg/kg (ppm). The UMF 15+/MGO 514 mg/kg (ppm) segment accounted for the highest share in 2019 and UMF 20+/MGO 829 mg/kg (ppm) segment is expected to be the fastest growing during forecast period. Based on distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, online stores and others. The supermarket/hypermarket segment accounted for the highest share in 2019 and online store segment is expected to be the fastest growing during forecast period.
A few major primary and secondary sources referred to for preparing this report on manuka honey market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 100% Pure New Zealand Honey; Arataki Honey; Comvita; Manuka Health; Oha Honey; Midlands Holdings; Capilano Honey Ltd; Streamland; and Wedderspoon Organic.
The North America Manuka Honey Market is valued at US$ 248.74 Million in 2020, it is projected to reach US$ 409.83 Million by 2028.
As per our report North America Manuka Honey Market, the market size is valued at US$ 248.74 Million in 2020, projecting it to reach US$ 409.83 Million by 2028. This translates to a CAGR of approximately 6.4% during the forecast period.
The North America Manuka Honey Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Manuka Honey Market report:
The North America Manuka Honey Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Manuka Honey Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Manuka Honey Market value chain can benefit from the information contained in a comprehensive market report.
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