Press Release

Aug, 19 2022

In January 2020, According to a Published Report by National Center for Biotechnology Information, Royal Jelly is a Healthy Food in Different Parts of the World that Contains a Variety of Nutrients and Provides Antioxidant and Anti-Inflammatory Effects

 

Honey is the most emerging and promising source which provides potential health benefits that can be utilized effectively by the pharmaceutical industry. Honey is an excellent source of numerous nutritional ingredients including vitamins, minerals, calcium, and antioxidants. It contains phytonutrients that are responsible for its antioxidant properties, as well as its antibacterial and antifungal power.

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Global bee products market is expected to reach USD 13,184.89 million by 2029 from USD 8,525.41 million in 2021, growing with a CAGR of 5.7% in the forecast period of 2022 to 2029. Increased demand for a more balanced, healthy, and safe diet is expected to boost the global bee products market. Advanced food processing techniques, such as ultra-sonication and microwave and infrared (IR) irradiation has used as alternatives or combined methods with conventional processing techniques for diverse applications in bee products market.          

bee products market

Increasing consumer awareness regarding the health benefits of bee products across the world will drive the market's growth rate

Honey is high in antioxidants such as phenolic acids and flavonoids which support better health. Due to this, it improves cholesterol levels that could help in decreasing the risk for heart disease by reducing the chance of abnormal heart rhythm and stroke. As a result, it lessens the chances of sudden cardiac death with heart disease and others. The other constituents of honey are vitamins and minerals, including B vitamins, amino acids, antibiotic-rich inhibin, proteins, and micronutrients. Consumers are getting more aware regarding the consumption of honey for increasing the health benefits which enhances the demand for honey ingredients in the forecast year, consumer awareness regarding the health benefits of honey is expected to drive the demand of the market.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

By Product Type (Honey, Beeswax, Beevenom, Royal Jelly, Propolis and Others), Nature (Conventional and Organic), Distribution Channel (Direct and Indirect)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Market Players Covered

Comvita Limited (New Zealand), Dabur India Ltd. (India), Local Honey Man (U.K.), Wax Green (Brazil), BeeMaid Honey limited (Canada), Natural Life (Australia), Barkman Honey, LLC (U.S.), Beeyond the Hive (U.S.), Apis Flora (Brazil), Bee Health Limited (U.K.), MN Própolis (Brazil), Beekeeper's Naturals, Inc. (Canada), King's Gel (Brazil), Chung Jin Biotech Co., Ltd. (China), BeeVital Propolis (U.K.), SDM Nutraceuticals Inc. (U.S.), Uniflora.(U.S.), Royal Bees (U.S.), Y.S. Eco Bee Farm (U.S.), SUNYATA PON LEE (Brazil), Apiario Polenectar (Brazil), LEHNING GROUP (Brazil) among others.             

Data Points Covered in the Report

In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.

Segment Analysis:

The global bee products market is categorized into three notable segments which are based on bee product type, nature and distribution channel.

  • On the basis of bee product type, the global bee products market is segmented into honey, bee wax, bee venom, royal jelly, propolis and others. In 2022, honey segment is expected to dominate the global bee products market with 50.31% market share due to increasing consumer awareness regarding the health benefits of honey among population and growing demand for nutritious food products.
  • On the basis of nature, the global bee products market is segmented into conventional and organic. In 2022, conventional segment is expected to dominate the global bee products market with 70.70% market share due to increase in health consciousness among people as well as rising demand for the natural and herbal ingredients.

The organic segment will dominate the nature segment of the bee products market

The organic segment will emerge as the dominating segment nature segment.  This is because of the growing demand for organic food in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.

  • On the basis of distribution channel, the global bee products market is segmented into direct and indirect. In 2022, indirect segment is expected to dominate the global bee products market with 68.10% market share due to owing to easy availability and accessibility to various outlets with a broad merchandise mix.

The indirect segment will dominate the distribution channel segment of the bee products market

The indirect segment will emerge as the dominating segment under distribution channel with approximately 68% market share. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the food and beverages industry all around the globe will further bolster the growth of this segment.

Major Players  

Data Bridge Market Research recognizes the following companies as the market players in bee products market: Comvita Limited (New Zealand), Dabur India Ltd. (India), Local Honey Man (U.K.), Wax Green (Brazil), BeeMaid Honey limited (Canada), Natural Life (Australia), Barkman Honey, LLC (U.S.), Beeyond the Hive (U.S.), Apis Flora (Brazil), Bee Health Limited (U.K.), MN Própolis (Brazil), Beekeeper's Naturals, Inc. (Canada), King's Gel (Brazil), Chung Jin Biotech Co., Ltd. (China), BeeVital Propolis (U.K.), SDM Nutraceuticals Inc. (U.S.), Uniflora.(U.S.), Royal Bees (U.S.), Y.S. Eco Bee Farm (U.S.), SUNYATA PON LEE (Brazil), Apiario Polenectar (Brazil), LEHNING GROUP (Brazil).

bee products market

Market Development

  • In April 2019, Comvita announced that it has entered into a conditional agreement to acquire the remaining 49% of its Chinese joint venture Comvita china Ltd. & Comvita Food Ltd. This results in strengthen direct business in china and obtain higher profitability in the market.
  • In July 2021, Dabur India Ltd announced that the launch of ‘Dabur Honey Tasties’ product in two flavors such as strawberry and chocolate that results in its entry into the syrups and spreads segment. This help in expanding the product portfolio of the company in the market.

Regional Analysis

Geographically, the countries covered in the bee products market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in bee products market during the forecast period 2022 - 2029

North America is expected to dominate the market due to the presence of the largest consumer market with high GDP. Moreover, the U.S. has the largest research and development spending in the world and offers trade agreements with several countries making it the largest market for consumer diagnosis and therapy products.

Asia-Pacific is estimated to be the fastest growing region in bee products market the forecast period 2022 - 2029

Asia-Pacific region is anticipated to score the highest growth rate market. Jedwards International, Inc., Koru Natural, and Pacific Resources International are three companies that predominate the market. Furthermore, an increase in honey production and a rise in consumer demand are the main factors anticipated to support market expansion in the region.

COVID-19 Impact

The supply chain has been hampered by COVID-19 since processing plants were shut down because of lockdown. Moreover, the industry's expansion has been hampered by a lack of workers, transportation restrictions, and border closures. It is projected that the industry would expand once the restrictions are removed. There has been a significant rise in demand for apiculture goods, especially honey. People seek for better sugar alternatives and adhere to the widespread notion that honey improves immunity, which has a positive impact on the apiculture industry and the growth of honey sales. Manufacturers in the apiculture sector have the opportunity to benefit from increasing demand, but providers must guarantee consistent product supply. As a result, COVID-19 is anticipated to have a substantial impact on the apiculture sector.

For more detailed information about the bee products on market report, click here – https://www.databridgemarketresearch.com/reports/global-bee-products-market


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