The Apiculture Market value is estimated to grow at a CAGR of 2.6% from approximately $8.81 billion in 2017 to $10.28 billion in 2023
Europe with major share in the Apiculture Market :
Apiculture industry has humungous investment opportunities as demand is increasing at an accentuated rate from 2018 to 2023. Europe is the dominant market for bee products and a major importing region. The total market for bee products in Europe was valued at $3,218m and is estimated to grow at a CAGR of 2% in the coming five years. With the escalating consumption of honey in the emerging countries of China, India and other South East Asian countries, the market for APAC is projected to grow faster as compared to other regions.
Apiary products such as honey, beeswax, live bees, royal jelly, pollen, propolis, and bee venom are naturally formed products derived from different grades of honey as well as beeswax. Since, five years China is the largest producer of apiary culture derived products. This is because of its easy availability of natural resources and a climate suitable for healthy bees.
Selected Product Type Analysis done in the full Report:
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. Agriculture is projected to be the fastest growing end-use application predominantly driven by the rising need for pollination and demand for beekeeping industry.
Honey industry is the most latent outcome of the apiculture which captures over 90.6% of the market in terms of value in 2018. The marketplace for honey in the coming years is first and foremost by increasing preference for natural sweeteners in the food & beverages industry. In addition, rising popularity of honey based cosmetic products has been in rise in the recent years and is estimated to be the fastest growing market for honey. Similarly, increasing awareness on bees wax as a valuable agent as well as thickener lifts the market for beeswax in cosmetics industry. Pollen and royal jelly gained visibility in the recent years, mainly due to the increasing awareness about the benefits of these bee products as a food ingredient and supplement.
Excerpts on Market Growth Factors
- Synthetic waxes pose a high threat to the skin; hence there is an increasing demand for natural waxes obtained from plants and animals. Beeswax is cheaper than the other wax so demand for thickener and cream is expected to increase in the developed nations.
- Increasing change of food taste is currently changing the across the world. The unique flavor impression that blends the taste of consumers leaves a delicate impression that has consumers wanting more.
- Reducing the cost of manufacturing have started, and recent past is anticipated to reach new heights, as there will be very low price.
Key players of the Apiculture Market :
Betterbee, Bartnik, LLC, Beehive Botanicals, Inc., Seldom Fools Apiculture, are some of key players of U.S., in the related products. European and the North American markets, owing to the number of key players present in this region. U.S accounted for 43% share of the total patents registered for beekeeping, beeswax and apiculture in 2012, 2013, 2014 and 2015. U.S. patent portfolio encompasses an extensive range of products and technologies. Almost 11 patents were registered by the top companies in U.S.in the past three years, wherein Cedar Creek Apiary, LLC contributed the maximum number of patents between 2010 and 2015, followed by Europe and Japan. Europe also held a considerable number of 9 patents registered in between 2010 to 2015.
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