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Thursday / November 7. 2024
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Worldwide demand for apiculture products estimated to increase at a CAGR of 4 per cent through 2032

According to a recently published industry report by Fact.MR, the value of the global apiculture market is $ 10.3 billion in 2022 and the same is projected to reach $ 15.3 billion by 2032-end. Worldwide demand for apiculture products is estimated to increase at a CAGR of 4 per cent through 2032.

Bee venom, royal jelly, propolis, bee bread, honeydew, 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.

Propolis consists of natural antibiotics that are used commonly to make anti-ageing 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.

Worldwide demand for apiculture products estimated to

 By Rituparna Majumder, Senior Manager – Life Science Advisory, Sathguru Management

India is home to the largest number of beehives (12.2 million) and is the eighth largest producer in the world, producing about 62,000 metric tonnes (MT) of honey worth Rs 21.1 billion (2020- 21). Today India contributes to only about 3.6 per cent of global natural honey exports worth Rs 6.62 billion, of which 73 per cent is exported to the US. The Indian honey market is anticipated to reach Rs 38.3 billion by 2027, growing at a CAGR of 10.31 per cent, according to IMARC report. The country’s largest honey-producing states are West Bengal, Uttar Pradesh, Punjab, and Bihar.

The flavoured honey market in India is gradually gaining traction. Increasing consumer preferences for healthy and natural alternatives over artificial sweeteners and increased awareness about honey’s advantages drive the market’s growth. The country’s diverse flora helps produce honey in various flavours. Multifloral honey such as Multi-flora Himalayan and monofloral honey such as Rapeseed/Mustard, Eucalyptus, Lychee, Sunflower, Karanj /Pongamea, Multi-flora Himalayan, Acacia, Wild Flora are some of the significant varieties of flavoured honey.

Multifloral and monofloral honey

Multifloral honey (wild/forest honey), derived from a wide array of wild flora, is less expensive, and is the most common type of honey in the markets. The antibacterial and anti-inflammatory properties of multifloral honey help treat skin problems, reduce swelling, and heal wounds and burns. Monofloral honey is predominantly derived from the nectar of a single flowering plant. It is harder to produce owing to its dependence on a dominant blossom’s nectar and pollen that determines the flavour, taste, and properties. Hence it  fetches a premium price. Monofloral honey results from two conditions (a) predominance of the target plant in the vicinity of hives, leaving the bees with little choice of plants, and (b) timing for introducing the hive and coinciding harvesting of the honeycomb with the blooming period.

Monofloral honey contains diverse dietary phytochemical compounds with functional and nutritional properties such as phenolic acids, minerals, phenolics, and flavonoids. It also has a low glycemic index (GI). This has led to its prominence in the medicinal field owing to direct health benefits, wound healing, antioxidant, anticancer, and anti-inflammatory properties. It aids in soothing chronic coughs and reducing allergies. The elusiveness of monofloral honey with regards to its geographical area or plant species fetches premium pricing. Orange Blossom honey from Meghalaya, Eucalyptus Honey from the Nilgiris, Jamun Honey from the forests in Eastern India, and Indian Laurel Honey from the Western Ghats are a few of the popular monofloral honey varieties available in India.

The domestic market is broadly segmented into multifloral honey and monofloral honey (eucalyptus honey, ajwain (carom) honey, sidr (lote) honey, and others). Multifloral honey contributes approximately 60 per  cent of the honey market being the most popular flavour. In contrast, the market for different monofloral honeys that are perceived as more exotic and beneficial is still in nascent stages, with eucalyptus, ajwain, and sidr contributing approximately 10 per cent each and the remaining 10 per cent from others. According to the Food Safety and Standards Authority of India (FSSAI), in the case of multifloral honey the pollen count of plant species’ does not exceed 45 per cent. In contrast, for qualifying as monofloral honey, the pollen count of the plant species should not be less than 45 per cent. 

 By Rituparna Majumder, Senior Manager – Life