Apiculture Market Trends, Demand and Regional Forecast by 2030
The apiculture market size stood at USD 10.58 billion in 2022 and is anticipated to increase from USD 11.15 billion in 2023 to USD 16.48 billion by 2030, registering a CAGR of 5.75% from 2023 to 2030.
Several commercial and scientific procedures are used to nurture and culture honeybees. Apiculture also known as beekeeping is anticipated to witness rapid growth during the forecast period. The rapid expansion of the health-conscious trend and favorable governmental support are the key factors driving the demand for beekeeping products.
Leading Players Featured in the Research Report:
Companies leading the apiculture market are Capilano Honey Ltd. (Australia), Organic Bee Farms (U.S.), Dabur Ltd. (India), NOW Foods (U.S.), Koster Keunen LLC (U.S.), Barkman Honey (U.S.), Heavenly Organics (U.S.), Strahl & Pitsch Inc., (U.S.), Miller’s Honey (U.S.), Durham’s Bee Farm (U.S.), and more.
COVID-19 Impact:
Increased Demand for Bee Products owing to their Well-known Properties amid Pandemic Fostered Market Growth
The coronavirus pandemic favored the apiculture market growth. Increased demand for bee products owing to their well-known properties propelled market expansion during pandemic. Market growth amid the pandemic was attributed to the rapid consumption of honey by consumers as a superfood.
Segmentation
Growing Demand for Honey in the Food and Beverage Industry Augmented Segment Growth
Based on type, the market is divided into beeswax, honey, and royal jelly. The honey segment accounted for the largest apiculture market share in 2022. Surging consumer preference for natural sweeteners over artificial sweeteners is boosting consumption of honey. The increasing need for honey-based products is enhancing segment expansion.
Food & Beverage Segment Takes the Lead due to Surging Need for Bee Products in Culinary Preparations
By application, the market is fragmented into pharmaceuticals, personal care & cosmetics, food & beverage, and others. The food & beverage segment is dominating the global market owing to the increasing need for bee products in culinary preparations. Growing demand for bee products as an ingredient to topping or spreads on food products and increasing usage of honey in recipes to improve the nutritional value of products are the key factors assisting segment expansion.
Drivers and Restraints
Favorable Government Support to Boost Awareness about Apiculture By-products to Propel Market Growth
The apiculture industry is gaining traction in both developed and developing countries by supplying valuable and nutritional products for several industries. Market growth is driven by a rise in favorable government support to boost awareness about the health advantages of apiculture by-products. An increase in digital media influence is encouraging consumers to use such products. Hence, governments are implementing various strategies that are expected to boost market growth over the projected period.
However, the availability of counterfeit products is hampering market expansion.
Regional Insights
Asia Pacific Dominates Due to Presence of Prominent Honey Producers and Suppliers
Asia Pacific accounts for a 35.52% share of the global market. China and India are the largest producers and suppliers of honey. Market growth in the region is attributed to rising disposable income, product introductions, and rapid expansion of manufacturing units.
Europe is the second dominant market, which registered strong growth. Increasing health awareness and the wide presence of leading companies are driving market growth in the region. Increased bee production due to a rise in commercially raised bees is supporting market expansion in the region.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/apiculture-market-108593 Apiculture Market Trends, Demand and Regional Forecast by 2030
The apiculture market size stood at USD 10.58 billion in 2022 and is anticipated to increase from USD 11.15 billion in 2023 to USD 16.48 billion by 2030, registering a CAGR of 5.75% from 2023 to 2030.
Several commercial and scientific procedures are used to nurture and culture honeybees. Apiculture also known as beekeeping is anticipated to witness rapid growth during the forecast period. The rapid expansion of the health-conscious trend and favorable governmental support are the key factors driving the demand for beekeeping products.
Leading Players Featured in the Research Report:
Companies leading the apiculture market are Capilano Honey Ltd. (Australia), Organic Bee Farms (U.S.), Dabur Ltd. (India), NOW Foods (U.S.), Koster Keunen LLC (U.S.), Barkman Honey (U.S.), Heavenly Organics (U.S.), Strahl & Pitsch Inc., (U.S.), Miller’s Honey (U.S.), Durham’s Bee Farm (U.S.), and more.
COVID-19 Impact:
Increased Demand for Bee Products owing to their Well-known Properties amid Pandemic Fostered Market Growth
The coronavirus pandemic favored the apiculture market growth. Increased demand for bee products owing to their well-known properties propelled market expansion during pandemic. Market growth amid the pandemic was attributed to the rapid consumption of honey by consumers as a superfood.
Segmentation
Growing Demand for Honey in the Food and Beverage Industry Augmented Segment Growth
Based on type, the market is divided into beeswax, honey, and royal jelly. The honey segment accounted for the largest apiculture market share in 2022. Surging consumer preference for natural sweeteners over artificial sweeteners is boosting consumption of honey. The increasing need for honey-based products is enhancing segment expansion.
Food & Beverage Segment Takes the Lead due to Surging Need for Bee Products in Culinary Preparations
By application, the market is fragmented into pharmaceuticals, personal care & cosmetics, food & beverage, and others. The food & beverage segment is dominating the global market owing to the increasing need for bee products in culinary preparations. Growing demand for bee products as an ingredient to topping or spreads on food products and increasing usage of honey in recipes to improve the nutritional value of products are the key factors assisting segment expansion.
Drivers and Restraints
Favorable Government Support to Boost Awareness about Apiculture By-products to Propel Market Growth
The apiculture industry is gaining traction in both developed and developing countries by supplying valuable and nutritional products for several industries. Market growth is driven by a rise in favorable government support to boost awareness about the health advantages of apiculture by-products. An increase in digital media influence is encouraging consumers to use such products. Hence, governments are implementing various strategies that are expected to boost market growth over the projected period.
However, the availability of counterfeit products is hampering market expansion.
Regional Insights
Asia Pacific Dominates Due to Presence of Prominent Honey Producers and Suppliers
Asia Pacific accounts for a 35.52% share of the global market. China and India are the largest producers and suppliers of honey. Market growth in the region is attributed to rising disposable income, product introductions, and rapid expansion of manufacturing units.
Europe is the second dominant market, which registered strong growth. Increasing health awareness and the wide presence of leading companies are driving market growth in the region. Increased bee production due to a rise in commercially raised bees is supporting market expansion in the region.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/apiculture-market-108593
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