Indian Apiculture Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
The Indian apiculture market was worth INR 16,818 Million in 2018. The market is further projected to reach INR 33,128 Million by 2024, growing at a CAGR of nearly 12% during 2019-2024. Apiculture involves the study and practice of beekeeping to produce natural honey. Apart from honey, a number of other by-products are also associated with Apiculture – these include beeswax, propolis, royal jelly, honeycomb, etc. For the purpose of this report, however, we have defined the apiculture market to consist of honey and beeswax.
Honey consumption in India has witnessed a strong growth over the last few decades. The per capita consumption of honey, however, still remains low in India compared to a number of developed countries. The low per capita consumption of honey is mainly as a result of the lack of awareness regarding the benefits of honey in diets and the fact that dietary habits in India do not call for the use of honey in a major way. In India, the consumption of honey is mainly in medicines with a relatively lower consumption directly as food. The other key product obtained from bee colonies – beeswax’ is primarily used in the manufacturing of cosmetics, soaps, pharmaceuticals, etc.
Indian Apiculture Market: Drivers
The per capita consumption of honey is significantly lower than a number of other countries. However, as a result of changing food habits and an increasing inclination of the Indian consumer towards health and wellness foods, we expect the consumption of honey to increase in the coming years.
Honey forms a key ingredient in the ayurveda and pharmaceutical sectors in India. Traditional Indian medicinal systems such as ayurveda utilize honey mainly as a vehicle for quicker absorption of various drugs such as herbal extracts. Moreover, it is also thought to support the treatment of several more specific ailments, especially those related to respiratory irritations and infections, mouth sores, eye cataracts, etc. We expect the growth of the Ayurveda and pharmaceutical sectors to create a positive impact on honey consumption in India.
Honey is also being increasingly used as an ingredient in a number of foods such as baked products, confectionary, candy, marmalades, jams, spreads, breakfast cereals, beverages, milk products, etc. We expect an increasing consumption of these food products to create a positive impact on the sales of honey in the coming years.
Based on the product type, the market has been segmented as honey and beeswax. Honey currently represents the biggest segment.
Based on the application, the market has been segmented as direct consumption, food and beverages, pharmaceuticals, cosmetics and others.
On the basis of region, the market has been segmented as North India, South India, East India and West India.
The competitive landscape of the market has also been examined in the report and the profiles of key players have also been provided.
This report provides a deep insight into the Indian apiculture market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Indian apiculture market in any manner.
Key Questions Answered in This Report:
How has the Indian apiculture market performed so far and how will it perform in the coming years?
What is the breakup of the Indian apiculture market on the basis of product type?
What is the breakup of the Indian apiculture market on the basis of application?
What is the breakup of the Indian apiculture industry on the basis of region?
What are the various stages in the value chain of the Indian apiculture market?
What are the key driving factors and challenges in the Indian apiculture market?
What is the structure of the Indian apiculture market and who are the key players?
What is the degree of competition in the Indian apiculture market?
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