Indian Apiculture Market to be Driven by the Rising Use of Honey in Various End-Use Industries in the Forecast Period of 2021-2026

The new report by Expert Market Research titled, ‘Indian Apiculture Market Report and Forecast 2021-2026’, gives an in-depth analysis of the Indian apiculture market, assessing the market based on its segments like types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2021-2026)

• Historical Market Size (2020): INR 18,836.2 million
• Forecast CAGR (2021-2026): 4%
• Forecast Market Size (2026): INR 37,235.9 million

With the rising use of honey as a low-cost alternative to conventional sugar, the market for Indian apiculture is also boosting. Additionally, the growing use of honey in medicinal applications is further propelling the apiculture market in India. A growing number of diabetes patients are refraining from the use of artificial sugar and are switching to natural alternatives like honey is also catalyzing the market for honey and thereby apiculture. The rising health consciousness, combined with the growing demand for natural ingredients, is also propelling the market forward.

Industry Definition and Major Segments

Apiculture is the practice of keeping bee colonies which are generally done in order to collect various items such as honey, beeswax, propolis, flower pollen, bee pollen, and royal jelly. These products have a wide range of applications in a variety of industries, and their popularity is growing as more people become aware of their benefits. Honey consumption in India has witnessed strong growth over the past few years.

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The market can be divided into the following segments by type:

• Honey
• Beeswax

On the basis of application, the market is divided into:

• Direct Consumption
• Food and Beverages
• Pharmaceuticals
• Cosmetics
• Others

The leading regional markets for the Indian Apiculture market are:

• North India
• South India
• East India
• West India

Market Trends

The organic way of life is gaining popularity. Organic and natural foods that are simple, healthy, and environmentally friendly are becoming more common among consumers. Honey is commonly being used as a natural ingredient in many cosmetic formulations owing to its inherent properties that enhance the quality of beauty products. In addition to this, applications of beeswax in the manufacturing of soaps, and other cosmetic formulations are impacting the growth of the Indian Apiculture market positively. The cosmetics industry’s movement toward organic ingredients is also fueling the growth of the market. As a result, the growing preference for organic and natural ingredients is expected to continue to support the growth of the Indian apiculture market. Pharmaceutical applications of honey have always been gaining traction in India as it is primarily used in traditional Indian medical systems such as Ayurveda to aid in the absorption of various drugs. It also proves to be helpful in the treatment of a variety of other conditions, including respiratory irritations and illnesses, mouth sores, and eye cataracts, among others. The cumulative demand for honey and other apiculture derivatives from Pharmaceuticals, Cosmetics, and Food and Beverages markets is anticipated to increase the growth of the Indian apiculture market in the forecasted period.

Key Market Players

The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of the key market players.

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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

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