Executive Summary

This report synthesises China Customs, UN Comtrade, NZX announcements and proprietary e-commerce scan data with independent verification to analyse China’s mānuka honey market across trade, competition, consumer behaviour and regulation, offering verified intelligence for New Zealand honey brands, exporters, investors and channel decision-makers. Data as at July 2026.

Trade landscape: China’s total honey imports rose 12.2% year on year to 3,560 tonnes in 2025. New Zealand remains the largest source but its share fell from 43.2% in 2024 to 40.3% (1,433 t). Australian exports to China surged 184% to 816 t, becoming the fastest-growing supplier and a significant new competitive pressure.

Competition & financials: Comvita (NZX: CVT) returned to profit in H1 FY26 (net profit NZ$4.6m) and completed a NZ$40.5m recapitalisation, but Greater China’s share of revenue fell from ~46% in FY22 to 31.7% in H1 FY26. Bezes Consulting estimates Comvita held ~54.2% of China’s mānuka honey market in 2024.

Consumer insights: Analysis of 1,000+ buyer reviews from the first issue of The China Shelf shows consumers prioritise efficacy and gifting over UMF grades — fewer than 15 of 1,000+ reviews mention a specific UMF grade.

Regulatory environment: GB/T 47735-2026 General Rules for Honey Quality takes effect on 1 December 2026, accelerating compliance. GB 7718-2025 General Standard for the Labelling of Prepackaged Foods takes effect on 16 March 2027.

Verification: Every data point is independently checked via public searches and labelled Verified, Partially verified or Unverified.

Chapter 1  At-a-Glance

In 2025, China imported 3,560 tonnes of honey worth US$48.44 million^[23]. New Zealand exported 1,433 tonnes to China, up 4.8% year on year — reversing the 2024 decline — although its share of Chinese imports slipped from 43.2% in 2024 to 40.3%^[23][1]. Australia exported 816 tonnes to China, up 184%, making it the fastest-growing supplier^[23].

Comvita (NZX: CVT) reported H1 FY26 (six months to 31 December 2025) revenue of NZ$118 million, up 18.3% year on year, and a net profit of NZ$4.6 million — a turnaround from a NZ$6.5 million loss in the prior corresponding period^[24]. F&N Ventures (a wholly owned subsidiary of Singapore’s Fraser and Neave group) and PHC Investments (an Auckland-based investment company focused on the aged-care sector, unrelated to F&N^[34]) are Comvita’s two independent cornerstone shareholders, holding 19.99% and 11.7% respectively following the recapitalisation completed in May 2026 (PHC previously held 13.1%, diluted to 11.739% after the raise)^[33]. Bezes Consulting (贝哲斯) estimates Comvita held approximately 54.2% of China’s mānuka honey market in 2024^[28].

Estimates of the global mānuka honey market range from approximately RMB 5.16 billion (YH Research, 2024 base) to approximately US$785 million (QYResearch, 2025 base); the spread reflects differences in scope and base year^[26][25]. QYResearch forecasts the global market to reach RMB 9.25 billion by 2031, a CAGR of 9.6%^[25]. Asia-Pacific accounts for over 70% of the global market^[25].

Adulteration is a structural industry problem. An early comparative test by the Shenzhen Consumer Council found 7 of 25 products labelled as mānuka honey exceeded C4 plant-sugar limits (a 28% failure rate)^[12]. Industry estimates put global annual sales of honey labelled “mānuka” at roughly 10,000 tonnes, against New Zealand annual production of only 1,700–2,000 tonnes — a striking supply gap^[13].

Manuka Health claims to have received a certificate from the UMFHA in November 2025 recognising it as the “world’s largest mānuka honey producer”^[29]Partially verified. New Zealand brands including Primal by Nature and Hakatere Naturals entered or expanded in the China market during 2026.