The Apiculture Market is estimated to reach a market size of US$11.015 billion by the end of 2026. The market was worth US$8.943 billion in 2019 and is anticipated to grow at a CAGR of 3.02%.
Apiculture is a kind of occupation that involves nurturing and managing beehives by applying various scientific and commercial techniques. The process of apiculture involves acquiring various bee products including beeswax, honey, royal jelly, flower pollen and bee pollen among others. Moreover, Apiculture is not just limited to keeping hives and harvesting honey, it also involves setting up of suitably located and constructed hives and making sure there is a sufficient source of nectar for the bees.
Further, apiculture aids in processing the harvested liquid honey after it has been taken from the hives. The place where beehives are stored and managed for further processing of honey, wax, and pollen etch is known as an Apiary. Furthermore, the growing awareness concerning the health benefits of honey have made it popular and are projected to surge demand in the apiculture market. Also, supportive government policies and initiatives are expected to promote beekeeping, thereby boosting demand in the apiculture market. Moreover, the growing application of honey as an artificial sweetener is further anticipated to boost demand in the apiculture market over the forecasted period.
Apiculture plays an integral role in various industries and everyday food customaries. In the food and beverage industry, honey is one of the most preferred products for beverage brewing and sporadic serving on special occasions. Also, honey serves as an integral component in cultural ceremonies across the world. For instance, in Egypt, honey is used as a beauty product and medicinal supplement. Overall, honey has extensive advantages across industries and countries, thereby augmenting demand for the apiculture market globally. Moreover, honey is perceived as a nutritive and enjoyable food product worldwide. Honey is either consumer as a whole or is accompanies as a supplement with other products.
Moreover, honey is used as a nutritional supplement as it serves as an important source of food for impoverished children. Besides, bee products such as royal jelly, pollen are highly fancied among customers owing to their high protein value. Apart from its significant importance across industries, Apiculture plays an integral role in rural livelihoods. Beekeeping is a small scale but widespread occupation that spans various sectors including forestry, horticulture, agriculture, natural environment and animal husbandry among others. Furthermore, through the engagement of apiculture applications across various sectors, apiculture plays an integral role in poverty alleviation. Apiculture helps in poverty alleviation by enabling people to engage in people in the practice of selling raw materials, harvesting, marketing and production of secondary products, thereby effectively strengthening people’s livelihoods and alleviating poverty.
Prominent market players in the Pressure Sensor market include The Best Bees Company, Dadant & Sons Inc., Betterbee, Dabur India Limited, Seldom Fools Apiculture, Miller Honey Farms and Mann Lake Ltd. among others.
The Growing Consciousness About the Benefits of Honey and Government Incentives to Surge Growth in the Apiculture Market
One of the integral reasons supplementing growth in the apiculture market includes a growing awareness of the benefits associated with the consumption of honey. According to the US National Library of Medicine, Honey is not only used as a nutritional product but also in healthcare as traditional medicine or as an alternative treatment for clinical condition including wound healing and cancer treatment. Also, honey aids in reducing the risk for cardiovascular diseases, stroke, heart attack owing to its richness in antioxidants. Moreover, honey helps in reducing LDL cholesterol while increasing HDL cholesterol which is considered integral in reducing heart diseases. Overall, these combined advantages associated with the consumption of honey are expected to boost demand in the apiculture market.
Moreover, lemon honey water has garnered significant prominence over the recent years as a remedy for detox, weight loss, clear skin, thereby leading to burgeoning demand in the apiculture market. Whereas supportive government policies and incentives are further expected to augment the demand in the apiculture market. For instance, The Ministry of Agriculture & Farmers Welfare, Department of Agriculture Cooperation & Farmers Welfare, Govt. of India had instilled in the Bee Board intending to develop beekeeping and improving crop productivity. Also, the schemes aim to provide free of charge training for apiculture. Additionally, the scheme aims to provide financial support to beekeepers to double their income by 2024. The support of governments through various schemes and initiatives are expected to promote apiculture and is anticipated to boost demand in the apiculture market.
Regional Trends in Apiculture Market:
The Asia Pacific Region Is Projected to Hold a Notable Share of the Apiculture Market
Apiculture is fragmented by varied applications across different business verticals and industries. Organisations have instilled various innovative apiculture techniques for the production of various product segments including honey, beeswax, propolis, and live bees across various business verticals.
Prominent market players around the world have fostered various business strategies to sustain, grow and develop in the Apiculture market owing to the highly competitive and diverse nature of the market. Furthermore, companies have undertaken various business strategies such as partnerships, acquisitions, mergers and other related commercial agreements towards delivering cost-effective solutions. Through such collaborative agreements and technological advancements, conglomerates and other allied agencies in the Asia Pacific region have resulted in the notable development of the market on the whole.
The Asia Pacific region holds a dominant market share and is projected to grow at a decent CAGR over the forecasted period. The growth in the market can be majorly attributed to the growing awareness among consumers about the increasing benefits of honey. Moreover, the growing awareness has led to growth in demand in emerging countries such as India, China which is further estimated to propel growth in the apiculture market. Also, China is a leading producer of honey in the world, thereby burgeoning growth in the apiculture market in the region.
Moreover, supportive government policies and initiatives in the region are expected to further augment the region. For instance, in 2019, the Indian government launched the Sweet revolution or honey revolution to increase the promotion, development and production of honey and other related products. The scheme also aims to boost local farmer’s income through the sale of honey related products. Similarly, several organisations have been established in the region to support the growth of the Apiculture industry. For instance, the Asian Apiculture Association was established in 1993 to promote the exchange of scientific and general information regarding the apiculture industry in Asia.