The value of the global apiculture market is US$ 10.3 billion in 2022 and the same is projected to reach US$ 15.3 billion by 2032-end. Worldwide demand for apiculture products is estimated to increase at a CAGR of 4% through 2032.
‘Beekeeping’ is referred to in the technical language as apiculture. It is essential to our agricultural system and provides over 100 types of blooming plants with pollination, as well as about 31% of the food we consume. Apiculture is the practise of keeping bee colonies in order to harvest items such royal jelly, pollen, honey, beeswax, and flower pollen. A variety of industries use these items. Because more people are becoming aware of apiculture, these items are being used more frequently.
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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 include Wild Forest Honey, Forest Essentials, Zizira, Roses&Tulip, Betterbee Inc., and 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.
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
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Questionnaire answered in the Market outlook Report of Apiculture include:
- What is the key strategy deployed by large players to maximize Apiculture Market growth?
- What are the main challenges faced by players in the Apiculture market Demand?
- With the advent of technological advancement, how will the Apiculture market landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Apiculture market size?
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).
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