The apiculture market is evaluated at US$8.943 billion for the year 2019 and is projected to grow at a CAGR of 3.02%, reaching a market size of US$ 11.015 billion by the year 2026. Apiculture refers to the management of bees to extract honey and beeswax from their beehives by applying scientific and commercial techniques. The place where the beehives are kept and managed for the production of honey, wax, propolis, etc. is called an Apiary.
The growing awareness about the health benefits of honey has made it popular which is anticipated to surge the apiculture market growth in the coming years. Also, there is increased support from the governments of various countries around the world and incentives are being provided by them to promote beekeeping. This, in turn, is expected to further provide a surge to the apiculture market growth. Moreover, there is the increased use of honey as an alternative to artificial sweeteners which is further anticipated to boost the apiculture market growth during the forecast period.
The Covid-19 pandemic made a negative impact on the apiculture market initially. As the lockdown was implemented around the world and the activities were halted, people were restrained from working from their homes. However, industries like apiculture which cannot be managed from home were hugely impacted. The programs related to apiculture such as the Beehive Distribution Program of the United States was deferred due to budget uncertainties produced by the pandemic. The Virginia State Beekeepers Association stated that their plans for meetings and conferences regarding beekeeping were dampened by Covid-19. But as the lockdown has been lifted and activities have almost come to their normal, the apiculture market has come to its regular pace and is anticipated to grow further from 2021 onwards.
The apiculture market has been classified based on product type, application, method, and geography. By product type, the market has been classified into honey, beeswax, propolis, live bees, and others. Based on application, the segmentation has been done into food & beverages, medical, cosmetics, and others. By this method, the market has been categorized into traditional beekeeping and modern beekeeping. Geographically, the apiculture market has been categorized into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
Growing awareness about the benefits of honey.
One of the key factors supplementing the Apiculture market growth includes a growing awareness of the benefits associated with the consumption of honey. According to the National Institutes of Health, honey is rich in antioxidants and those antioxidants can help lower blood pressure in consumers, leading to reduced risk of heart attack, stroke, and other cardiovascular diseases. Also, it states that honey can reduce LDL cholesterol which is considered bad, and increase HDL cholesterol which is considered good for the body, reducing the risk of heart diseases.
The recognition of these advantages associated with the consumption of honey is anticipated to have a positive impact on the apiculture market growth. Various companies selling honey have been marketing their honey products by stating the health benefits of honey which have made people more aware of the health benefits of honey which are expected to surge the apiculture market in the coming five years. According to the Food and Agriculture Organization of the United Nations, honey is a quick and convenient source of energy that does not require a complicated digestive process. It also states that honey helps in wound healing when applied topically and has antibacterial properties. Moreover, lemon honey water has gained huge popularity in recent years particularly in the urban regions as a remedy for weight loss, clear skin, and detox, which has led to an increase in the consumption of honey, which is further anticipated to boost up the apiculture market during the forecast period.
Incentives and support for apiculture.
The increased support of governments across the globe is expected to be one of the prominent factors driving market growth in the coming years. In the United States, the government of Virginia through the Virginia Department of Agriculture and Consumer Services (VDACS) is running a beehive distribution program that offers free apiculture equipment to the residents of Virginia. The General Assembly approved $125,000 for the Beehive Distribution Program to escalate the number of hives in the region.
The Farmers Market Promotion Program in the US provides grants from $5,000 to $10,000 to start an apiary. Also, the U.S. Department of Agriculture provides a huge grant ranging from $10,000 to $500,000 for businesses with less than 50 employees and up to $1 million yearly turnovers, which is a perfect grant for apiculture. The government announced a stimulus package of 20 trillion rupees for Covid-19 out of which 5 billion rupees were kept aside for promoting apiculture. Under the National Beekeeping and Honey Mission (NBHM) which is run by National Bee Board (NBB), free training is provided for apiculture and the government is aiming to provide more financial support to beekeepers as part of fulfilling the government’s goal of doubling the farmers’ income by 2024. The support from the governments of various countries and incentives being provided by them to promote apiculture is expected to have a positive impact on the apiculture market growth and are anticipated to propel the market growth during the forecast period.
Asia Pacific region to hold a prominent share in the market.
Geographically, the Asia Pacific region is anticipated to hold a significant share in the market owing to the growing awareness of the benefits of honey in the region. This is leading to increased demand for honey in countries such as China and India which is expected to propel the apiculture market growth. The region also boasts of the presence of China which is the leading producer of honey in the world.
Prominent/major key market players in the Apiculture market include The Best Bees Company, Mann Lake, Ltd. (Kelley Beekeeping), and Dadant & Sons, Inc. among others. The players in the Apiculture market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the Apiculture market.
|The market size value in 2019||US$8.943 billion|
|The market size value in 2026||US$11.015 billion|
|Growth Rate||CAGR of 3.02% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Product Type, Application, Method, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, MEA, Asia Pacific|
|Companies covered||The Best Bees Company, Mann Lake, Ltd. (Kelley Beekeeping), Dadant & Sons, Inc., Betterbee, Dabur India Limited, Seldom Fools Apiculture, Alveole, Miller Honey Farms, Tiwana Bee Farm, Golden Bees Ltd|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the apiculture market?
A1. The global apiculture market is projected to grow at a CAGR of 3.02% during the forecast period.
Q2. What will be the apiculture market size by 2026?
A2. The apiculture market is projected to reach a market size of US$11.015 billion by 2026.
Q3. What is the size of the global apiculture market?
A3. The apiculture market is evaluated at US$8.943 billion for the year 2019.
Q4. Which region holds the maximum market share in the apiculture market?
A4. Geographically, the Asia Pacific region is anticipated to hold a significant share in the apiculture market owing to the growing awareness of the benefits of honey in the region.
Q5. What factors are anticipated to drive the apiculture market growth?
A5. The growing awareness about the health benefits of honey has made it popular which is anticipated to surge the apiculture market growth.