According to a recent report published by Fast. MR, titled, Global Apiculture Market 2020: Market Size, Trends, Opportunity, Forecast 2021-2026, The apiculture market is anticipated to flourish at a CAGR of 3.1% over the forecast period i.e. 2021-2026. Further, the market for apiculture is anticipated to reach to USD 8,817.2 Million by the end of 2026.
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The apiculture market by product is segmented into honey, beeswax, live bees and others. Honey segment is witnessing high consumption rate in various developed nations. This can be attributed to high adoption rate of milking robots in dairy farming. Further, global apiculture market is also segmented by application into field farming, dairy farm management, soil management, irrigation management, pruning and others. Dairy farm management segment is likely to witness highest year-on-year growth during the forecast period.
Growing Inclination of Consumers towards Health and Wellness Foods
Rising consumer preference for natural sweeteners such as honey is anticipated to positively impact the growth of global apiculture market. Furthermore, rising awareness regarding health benefits of honey over other artificial sweeteners is driving widespread demand for honey which in turn is aiding the growth of global apiculture market.
Increasing Application in Food & Beverages Products
The future growth of apiculture market is anticipated to be driven by both i.e. food and non-food applications. Various non-food end use applications include agriculture, cosmetics, medical and others. Further, growing usage of honey in these end use applications is anticipated to intensify the growth of global apiculture market.
In terms of geography, the apiculture market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific accounted for the major share of the global apiculture market. Moreover, Europe apiculture market is expected to showcase lucrative growth in the upcoming years. U.S., India and China are some of the major countries witnessing the augmenting demand for apiculture market.
The report also covers detailed competitive analysis of major market players of the global apiculture market, such as Betterbee, Bartnik, Miller’s Honey Company, Dabur India Limited, Arnold Honeybee, Mann Lake Ltd., Beehive Botanicals, Inc., Thomas Apiculture SAS, Beehive Botanicals Inc. and other key & niche players. The apiculture market is witnessing a wide range of industry activities such as product launch, acquisition, mergers, and expansion across the globe.
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