Demand for Honey is Estimated to Account for US$ 16.4 Billion by 2033 | Fact.MR Report

Worldwide consumption of honey is anticipated to increase at a 5.4% CAGR and the market is expected to rise from a valuation of US$ 9.7 billion in 2023 to US$ 16.4 billion by the end of 2033.

Consumers are preferring the use of natural and organic sweeteners as compared to sugar and artificial sweeteners, and this trend has majorly influenced the demand for honey and is expected to drive demand in the future as well. The rising diabetic and obese population across the world is expected to primarily drive the consumption of honey and honey-based sweeteners as they are healthier alternatives to artificial sweetening agents.

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Propolis consists of natural antibiotics that are used commonly to make anti-aging and cosmetic products. Elders use royal jelly as a nutrition-rich diet. Furthermore, venom is applied to cure the sting of bees and serve effectively against AIDS.

In recent years, there has been a noticeable increase in the demand for honey-based products and honey due to shifting consumer preference towards Ayurveda products. A noticeable increase in the demand for chemical-free, natural, and organic products further drives growth opportunities in the apiculture market.

There are various products that are available around the world because of their wider application range. These are useful in different end-use industries such as manufacturing, pharmaceuticals, polishing, food and beverages, cosmetics, etc.

Bees, propolis, royal jelly, venom, wax, honey but pollen, queens, and their larvae are some useful bee products that are available in the apiculture (beekeeping) industry. Honey can serve as the best cure for a lot of body and health problems; for instance, blood sugar, ulcers, heel burns, cough, etc. Owing to probiotic and anti-bacterial properties, honey is being used at an increased rate to make different soaps, medicines, cosmetic products, etc.

Bee venom is basically an indispensable ingredient that is used generally to cure the sting of the bee. Further, it is also used for the treatment of various problems such as rheumatism and arthritis. Honey is helpful for the reduction of indigestion and acidity, and for glowing skin. Honey is further used to boost immunity and lower the risk of heart disease.

Thus, with the growing use of these products across the medical industry, the expansion opportunities in global apiculture are likely to increase over the coming years.

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Key Takeaways from Market Study

• Worldwide sales of apiculture products are predicted to reach US$ 15.3 billion by the end of 2032.
• Demand for industry products is likely to progress at a CAGR of 4% through 2032.
• The market in the Asia Pacific region is likely to reach a valuation of US$ 3 billion by the end of 2032.
• Among the European countries, the market in Germany is likely to expand at a CAGR of 3%.

Competitive Landscape

Key players in the apiculture market are adopting strategies for the generation of novel growth opportunities. Some of these key strategies are acquisition, collaboration, novel product launches, portfolio expansion, partnerships, and agreements that are adopted by players to gain a competitive edge in the industry.

Some of The Key Manufacturers of Apiculture Products

• Wild Forest Honey
• Forest Essentials
• Zizira
• Roses&Tulip
• Betterbee Inc.
• Beehive Botanicals Inc.
• Amul Honey, in September 2021, launched an item of GCMMF (Gujrat Cooperative Milk Marketing Federation Ltd.). This initiative is under active cooperation with NBB (National Bee Board).
• In 2021, Hilltop launched an original apiculture lip balm. It contains natural emulsifiers that replenish and hydrate lips and provide protection against UV rays. This launch provides assistance to establish a market for natural products that are gaining popularity among consumers.

Winning Strategy

Top companies serving in the market are concentrating on novel product innovation for the improvement of their production capabilities. These players are investing at an increased rate in R&D activities and related projects.

For instance,

• In 2019, Comvita established a Conditional Agreement to acquire the remaining 49% of Comvita China Ltd. & Comvita Food Ltd., its Chinese joint venture. The aim of this acquisition is to strengthen its business across China and drive higher profitability.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global apiculture market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.

The study divulges essential insights on the market on the basis of product type (honey, honey dew, beeswax, bee venom/apitoxin, royal jelly, propolis/bee glue), end use (cosmetics, agriculture, pharmaceuticals, food & beverages, industrial), and distribution channel (business to business, business to consumer), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).

Segmentation of Apiculture Industry Research

• By Product:
  • Honey
    • Liquid Honey
    • Comb Honey
    • Creamed Honey
    • Floral Honey
  • Honey Dew
  • Beeswax
  • Bee Venom/Apitoxin
  • Royal Jelly
  • Propolis/Bee Glue
• By End Use:
  • Cosmetics
  • Agriculture
  • Pharmaceuticals
  • Food & Beverages
    • Alcoholic Beverages
    • Non-alcoholic Beverages
  • Industrial
• By Distribution Channel:
  • Business to Business
  • Business to Customer
    • Hypermarkets/ Supermarkets
    • Specialty Stores
    • Convenience Stores
    • Online Retail
• By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa