Food & beverages is the single largest segment for bee products, mainly due to their wide application base as an ingredient as well as supplement. Food & beverages accounted for over 82.2% of the global apiculture market in terms of revenue in 2014.
The applications of honey has expanded at a rapid pace in the food & beverages industry and is primarily driven by the demand for healthy and natural products in developed as well as developing nations. Acquisitions and expansions are few of the growth strategies employed by the key players in this industry to gain competitive advantage over their peers.
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Market Driving Factors:
Currently, there is an increased demand for honey across the world, while there are supply issues constraining availability. Honey’s popularity has witnessed regular growth over recent years as consumers desire natural, nutritional food and beverage products. Honey also has the ability to create a unique flavor impression that meets the sweet taste requirements of food products.
Apart from honey’s impeccable taste, the product is gaining considerable traction from various end user industries. Food & beverages industry has been encouraging the trend of natural and healthy sweeteners driven by the demand for natural and organic products. With the rising chances of obesity and diabetes, consumers have been preferring low-calorie sweeteners. Furthermore, wide application of honey in various food products facilitates the food product manufacturers to prefer honey over other sweeteners.
Geographical Brief: China has the largest market for apiculture and APAC region accounted for the largest market share in the global apiculture market.
China dominated the world in terms of pure honey production in 2013 by several fold and will continue to do so in the future as well. Other major countries like Turkey, Argentina, Ukraine, the U.S., Russia, India and others are following China.
India led the world in the production of beeswax in 2013, followed closely by Ethiopia, Argentina and Turkey. Other major countries involved in the production of beeswax are Korea, Kenya and Mexico.
The Apiculture Market is segmented into various categories in the IndustryARC marketing research report by product, by application and by geography.
1. By product: honey, beeswax, live bees and others
2. By application: food and beverages, agriculture, medical, cosmetics, chemicals and paints and others
3. By geography: North America, South America, Europe, Asia Pacific and ROW
The key players in the Apiculture Market according to the IndustryARC research report are as follows:
· Betterbee Inc. (U.S.)
· Miller’s Honey Company (U.S.)
· Dabur India Limited (India)
· Shangdong Bokang Apiculture Co. Ltd. (China)
· Beehive Botanicals Inc. (U.S.)
The Apiculture Market is a huge market with high demand for honey in food and beverages and other respective end user industries related to honey harvesting and honey bee farming. This market is expected to have high growth due to its consumption by regular population for various purposes and it is expected to witness growth in demand due to the rise in population across the globe during 2015-2020.
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