Indian Apiculture Market Report and Forecast 2024-2032

Indian Apiculture Market Outlook

The Indian apiculture market attained a value of almost INR 26,652.86 million in the year 2023. The industry is further expected to grow at a CAGR of 12% over the forecast period of 2024-2032 to reach a value of INR 74,022.98 million by 2032.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

The Indian apiculture market is being driven by the rising consumer demand for natural and nutritious products. The rising consumer awareness regarding the various health benefits of honey consumption is aiding the Indian apiculture market.
 
The growing consumer shift towards Ayurveda is leading to the growth in the demand for honey, a more natural alternative with several medicinal benefits. Thus, among different product types, honey currently accounts for the largest share in the apiculture industry in India. Honey is considered as the best natural moisturiser, especially for dry skin. Thus, manufacturers are adopting it to produce various cosmetic products. The increasing demand for cruelty-free and organic and natural cosmetic products will provide further impetus to the industry growth. Further, South India is the leading regional market in the industry.

Market Segmentation

Apiculture refers to the practice of beekeeping to produce natural honey. Along with honey, several other by-products are also produced, which include beeswax, propolis, royal jelly, and honeycomb, among others.

On the basis of product types, the Indian apiculture market has been bifurcated into honey and beeswax.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Based on applications, the industry is divided into:

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

The report covers the major regional markets in the Indian apiculture market, which include North India, South India, East India, and West India.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Market Analysis

The Indian apiculture market is being driven by the growing production of honey in the region and the rising consumer demand for natural products. Raw honey has been adopted as a folk remedy in the region since ancient times as it provides a variety of health benefits. Owing to the medicinal benefits of honey and beeswax, industries such as pharmaceutical and beauty and personal well-being are increasingly adopting them to manufacture several product types. The growing demand for honey in the ayurvedic industry, which is expanding at a healthy pace in the region, is expected to drive the growth of the apiculture industry over the forecast period.

Further, the growing consumer awareness regarding the consumption of sugar and its harmful effect on health is driving the demand for honey. Honey is used as an alternative to sugar in various dishes and food recipes. The honey found in grocery stores is pasteurised, improving the colour and texture of the honey and eliminating unwanted yeast from the same. Manufacturers are continuously enhancing their production process, further aiming to extend the shelf life of the product, which is expected to aid the industry in the future. Currently, the direct consumption of honey is not very high in the region, but growing consumer awareness regarding the benefits of honey is expected to provide various growth opportunities to the industry over the forecast period.

Owing to its low cost, farmers prefer beekeeping as an important subsidiary occupation, which provides high returns as honey, bee wax, bee venom, propolis, and others. The growing government support to enhance the honey production in India through enhanced commercialisation and innovation and exports are expected to contribute significantly to the industry growth in the coming years.

The comprehensive EMR report provides an in-depth assessment of the industry based on Porter's five forces model along with giving a SWOT analysis. The report by EMR covers the macro and micro aspects of the industry. It also assesses the key demand and price indicators of the industry.

Key Highlights of the Report