Global Apiculture Market 2019-2023 | Increasing Government Funding for Apiculture R&D | Technavio
LONDON--(BUSINESS WIRE)--Nov 12, 2018-- analysts forecast the global apiculture market to grow at a CAGR close to 3% during the forecast period, according to their latest market research report.
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Technavio analysts forecast the global apiculture market to grow at a CAGR close to 3% by 2023. (Graphic: Business Wire)
The restoration of bee habitats is one of the major trends being witnessed in the . Initiatives such as planting trees or creating artificial habitats in urban backyards with necessary procedures and equipment are essential for restoring bee habitats. These initiatives are supported by various governments and private organizations worldwide.
According to Technavio analysts, one of the key factors contributing to the growth of the global apiculture market is the strict regulations on the use of pesticides.
Global apiculture market: Increasing government funding for apicultural R&D
The apiculture industry is fragmented and associated with numerous enterprises, including individuals, associated with beekeeping. Most of these enterprises adopt traditional methods of beekeeping, as R&D of better methods of apiculture requires extensive capital investment. Hence, governments of various countries are investing in the industry to protect the food security requirements of the increasing population.
According to a senior analyst at Technavio, “The decline in the bee population is a major factor affecting the profitability of beekeepers, which, in turn, discourages from performing apiculture. To solve this issue, the EU’s Horizon 2020 has funded projects such as PoshBee and Hyperthermia in Apiculture (HApi).”
Global apiculture market: Segmentation analysis
The global apiculture market research report provides market segmentation by product (honey, beeswax, and others) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major products, the honey segment held the largest market share in 2018, contributing to over 92% of the market. This product segment will dominate the global market throughout the forecast period.
APAC held the largest share of the market in 2018, accounting for more than 43% share. It was followed by EMEA and the Americas respectively. The consumption of apicultural products in APAC is driven by the increased demand for cosmetics, which contain beeswax as a constituent.
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Some of the key topics covered in the report include:
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SOURCE: Technavio Research
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PUB: 11/12/2018 08:49 AM/DISC: 11/12/2018 08:49 AM