The apiculture market is estimated to register a CAGR of 4.3% during the forecast period (2020-2025).In apiculture, bee colonies are maintained by cultivars to obtain honey and honey-based products such as propolis, beeswax, honeydew, and royal jelly. Beekeeping was initiated in North America and then expanded to Europe. Increasing demand for honey for health benefits and insufficient availability will drive the future market during the forecast period. Commercial farming of beekeeping will come into the picture as the demand for honey from various industries increasing due to medicinal and cosmetic purpose which further will drive the apiculture market. Benefits associated with apiculture rearing are low maintenance and cost-effective. The increasing demand for honey and its by-products in developing countries will boost the global market during the forecast period. Europe and North America have a significant consumption share of honey and its by-products, while rapid growth has been projected in the Asia-Pacific regions.
Key Market Trends
Honey Consumption on Rise
Rising use of honey as an alternative to artificial sweeteners in various end-use industries is propelling the growth of the global apiculture market. Moreover, honey is being increasingly utilized in the cosmetics and medical industry which is further set to spearhead the growth of the global apiculture market. Further, manuka honey is gaining popularity across the globe on the account of its antibacterial, anti-inflammatory and antimicrobial properties.
Honey consumption as artificial sweeteners by various industries boosting the growth of the global apiculture market. Additionally, the use of honey in cosmetics and medicines market industry further adding growth during the forecasting period.
Asia-Pacific Leads the Apiculture Market
The Asia-Pacific has the largest market share in 2018, accounting for 42% share, followed by Europe, which is the second-largest producer after China with 230000 tons of honey production. The consumption of apiculture products like honey is increasing in the Asia-pacific region due to the health benefits associated with honey and its by-product.
The apiculture market is fragmented with a large number of beekeeping farms in different regions. The major players are more focussed on strategic plannings to grow the business portfolio. Apart from business development activity, the acquisition is also considered for business growth to improve the market share. Major players like Dabur India Limited, Bartnik , Arnold Honeybee, Miller’s Honey Company, and Beehive Botanicals Inc are making strategic moves to make their business grow.
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