Dublin, Nov. 01, 2022 (GLOBE NEWSWIRE) -- According to a recently published industry report by Fact.MR, 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.
Bee venom, royal jelly, propolis, bee bread, honey dew, beeswax, and honey are some key ingredients that are available in the market that are widely used in the pharmaceutical and cosmetics sectors. Further, honey is also used as a carrier in Ayurveda and helps prevent colds, coughs, etc., and acts as a laxative. Honey is used as a treatment for acne cure, to reduce weight and anxiety, to improve digestion, and others. The product is also utilized as a sweetener in different organic products. Further, pollen is an effective source of proteins and vitamins.
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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
- Honey
- 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
Browse Fact.MR's Latest Reports on Food&Beverages Domain
Honey Market: The global honey market was valued at USD 9.2 billion in 2020, and it is projected to reach USD 15.2 billion by the end of 2031, registering a CAGR of 5.1% during the forecast period 2021-2031. The sales of honey are expected to exceed US$ 15.2 Bn by registering a positive CAGR of 5.1% during the forecast period 2021-2031.
Organic Honey Market: Global sales of organic honey are estimated to exceed US$ 150 Mn by 2022-end and are forecasted to garner a CAGR of 7.2% during the assessment period. The United States Department of Agriculture (USDA) has mandated all manufacturers producing organic products to be USDA-certified, in order to label their products as ‘organic’. This might positively influence demand and sales of organic honey in North America. The region is expected to be the fastest expanding market for organic honey during 2017 to 2022.
Natural Sweetener Blends Market: With high prevalence of lifestyle diseases such as obesity and diabetes, consumers are relying on natural sweetener blends that reduce added sugars in some of the food and beverages. Increasing demand for zero- or low-calorie sweeteners that help control blood sugar and blood pressure is likely to accelerate the growth of natural sweetener blends market.
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