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Apiculture Market 2024 Competitive Landscape, Industry Analysis, Segmentation And Forecast To 2033
Apiculture Market Trends
According to The Business Research Company's, The apiculture market size has grown strongly in recent years. It will grow from $12.83 billion in 2023 to $14.02 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to growth in commercial construction, focus on workplace productivity, regulatory compliance, aesthetic considerations, growth in hospitality sector..
The apiculture market size is expected to see strong growth in the next few years. It will grow to $19.56 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to rapid urbanization, growth in healthcare construction, rise in sustainable building practice, expansion of entertainment venues, smart city initiatives.. Major trends in the forecast period include integration of technology, open office acoustics solutions, modular and easy installation systems, online sales channels and e-commerce, customization and personalization..
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Market Drivers and Trends:
The increase in demand for organic products is expected to propel the growth of the apiculture market going forward. Organic products are foods, fibers, or other agricultural products that are grown and processed without the use of synthetic pesticides, fertilizers, genetically modified organisms (GMOs), or other harmful chemicals. Honey is commonly utilized in organic products as a natural sweetener and versatile ingredient, contributing to the appeal of organic offerings. For instance, in May 2023, according to the report published by the Organic Trade Association, a US-based non-profit business association that represents organic agriculture and trade, the U.S. organic food market witnessed an unprecedented surge in sales, reaching a new record of $61.7 billion in 2022, with an increase of 4.4% compared to $59.1 billion in 2021. Moreover, organic beverages ranked as the second highest-selling category among organic products, registering sales of $9 billion, reflecting a 4% increase. Therefore, an increase in demand for organic products is driving the growth of the apiculture market.
Technology advancements are the key trends gaining popularity in the apiculture market. Major companies operating in the apiculture market are adopting innovative technologies to sustain their position in the market. For example, in November 2022, DAESUNG Co. Ltd., a South Korean firm that manufactures portable mechanical beekeeping machinery, introduced smart beekeeping range products including wasp detectors, hive controllers, automated beekeeping gates, plasma ozone storage, hornet trap, and smart beekeeping systems. Plasma ozone storage is a green technique that significantly enhances sterilization, disinfection, and odour reduction. The smart beekeeping system employs specific materials such as flexible carbon-based heating components to produce comparable effects to heat sources created by bees, and may significantly aid in the maintenance of bee development environments through effects such as far-infrared rays. The smart beekeeping technology allows for the integrated administration of honeybee development conditions in dozens to hundreds of beehives via applications, such as automated specifiers, water supply control, and internal bee environment settings.
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Major Key Players of the Market:
Dabur India Ltd.; Miller's Honey Company; Betterbee; Barkman Honey LLC; Beehive Botanicals Inc.; Arnold Honeybee Services; Clearskys; Little Bee Impex; Beeyond the Hive; Capilano Honey Ltd.; Dutch Gold Honey Inc.; Conagra Brands Inc.; Rowse Honey Ltd.; Oha Honey LP; Heavenly Organics; Lamex Food Group Limited; Waitrose & Partners; United Natural Foods Inc.; Clif Bar & Company; BeeswaxFromBeekeepers; Burleson's Honey; Bee Maid Honey Limited; Comvita Limited; GloryBee; Wholesome Sweeteners Inc.; Thomas Apiculture; Georgia Honey Farm; Blue Ridge Honey Co.; Honeyville Inc.; Mann Lake Ltd.; Honey Solutions
Apiculture Market 2024 Key Insights:
• The apiculture market will grow to $19.56 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%.
• Rising Demand For Organic Products To Drive Market Growth
• Technological Advancements Driving Innovation In Apiculture Market
• Asia-Pacific was the largest region in the apiculture market in 2023
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