The market is estimated to grow at a CAGR of 5. 0% from 2020 to 2028. Brazil and Argentina hold significant shares in the South America manuka honey market. The top 10 export destinations make up 95% of total export earnings.
New York, Aug. 16, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “South America Manuka Honey Market Forecast to 2028 – COVID-19 Impact and Regional Analysis By Nature, Type, and Distribution Channel” – https://www.reportlinker.com/p06103306/?utm_source=GNW
Rising awareness about the benefits of manuka honey is anticipated to boost the demand for various products based on this honey, including cosmetics, medicines, food, and beverages. High disposable income of consumers in untapped countries, coupled with rising awareness regarding the health benefits of manuka honey, is encouraging manufacturers to market these products in the emerging countries.
Brazil has reported the highest number of COVID-19 cases in South America, followed by Argentina, Chile, Peru, and Ecuador, among others.Governments of countries in South have taken an array of actions to protect their citizens and contain the spread of infection.
The region is experiencing lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially due to lowered trade activities with China, the US, and several European countries.The ongoing pandemic has drastically affected the progress of the manuka honey industry.
The outbreak has disrupted operational efficiency and value chains due to the sudden shutdown of national and international boundaries, which has led to discontinued supply of raw materials, eventually 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 in the coming years.
Further, the focus over just-in-time production is another factor that is likely to hinder the market growth.
The online store segment led the manuka honey market based on nature in 2019.Online portals such as Amazon, Natures Basket, and Flipkart have promoted the growth of the manuka honey market, as the online retailing reduces the operational costs of the manufacturers and allows them to reach targeted customers more effectively.
Further, through online marketing, they can attract customers by making the receipt of products easy with the features such as home delivery, various payment options, and attractive discounts.These portals also provide detailed information about the product, such as product description, user’s review, application, and user guide, which helps buyers in comparing different products briefly and selecting the products wisely.
Features such as 24×7 availability, easy access, secure payment options, and quick service have attracted consumers to shop online for manuka honey products. Increased adoption of internet and smartphone further support this trend.
The South America manuka honey market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the South America manuka honey market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants typically involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the South America manuka honey market. 100% Pure New Zealand Honey, Arataki Honey, Comvita, Manuka Health, Oha Honey, Capilano Honey Ltd, Streamland, and Wedderspoon Organic are among the leading market players in South America.
Read the full report: https://www.reportlinker.com/p06103306/?utm_source=GNW
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