According to the latest report by IMARC Group, titled “Indian Apiculture Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group offers a comprehensive analysis of the industry, which comprises insights on the beekeeping industry in India
Is Indian apiculture industry good for investment or future trend?
The Indian apiculture market size reached INR 23,060.5 Million in 2022. Looking forward, IMARC Group expects the market to reach INR 44,814.7 Million by 2028, exhibiting a growth rate (CAGR) of 11.65% during 2023-2028.
What is Indian apiculture?
Apiculture, also known as beekeeping, is the study and practice of cultivating bees on a commercial scale to produce products such as honey, propolis, royal jelly, and beeswax. Apiculture involves the mass breeding of bees in apiaries where beehives are set up and placed in areas with a high concentration of flowering plants. Apis Indica, or Indian bee, is the most commonly reared and domesticated bee species in India due to its high yield of honey every year. Honey, produced by bees using the nectar or sugary secretions of plants, serves as a vital ingredient in various food dishes, and cosmetics, and pharmaceutical products. Apart from this, the beeswax obtained from beehives is used in the manufacturing of candles and polishes for footwear and furniture.
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What is drivers of change in trends for Indian apiculture market:
The growing ayurvedic industry in India is one of the key factors driving market growth. Ayurveda is the ancient Indian medicinal system that prescribes extensive usage of honey owing to its medicinal properties. Rising awareness among the masses regarding the benefits of honey has shifted their preference to Ayurveda as a more natural alternative science of healing. People are now widely incorporating honey in their daily diet to ensure maintaining a healthy immune system. Additionally, honey is a known remedy for the treatment of various respiratory, skin, and vision issues without any side effects, which is also augmenting the consumption of honey in the country.
Consequently, manufacturers in the food and beverage industry are launching varied products with honey as the key ingredient. Furthermore, owing to the medicinal benefits of honey and beeswax, industries such as pharmaceutical, and beauty and personal well-being are extensively utilizing them in the manufacturing of their products, thus contributing significantly to the market growth,
Indian Apiculture Market 2023-2028 Analysis and Segmentation:
The report has segmented on the basis of product type, application, and region.
Breakup by Product Type:
- Honey
- Bbeeswa
Breakup by Application:
- Food and beverages
- Pharmaceuticals
- Cosmetics
- Others.
Breakup by Region:
- North India
- South India,
- East India
- West India
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