Food & beverages is the single largest segment for bee products, mainly due to their wide application base as an ingredient as well as supplement. Food & beverages accounted for over 82.2% of the global apiculture market in terms of revenue in 2014. The applications of honey has expanded at a rapid pace in the food & beverages industry and is primarily driven by the demand for healthy and natural products in developed as well as developing nations. Acquisitions and expansions are few of the growth strategies employed by the key players in this industry to gain competitive advantage over their peers.
Market Driving Factors:
Currently, there is an increased demand for honey across the world, while there are supply issues constraining availability. Honey’s popularity has witnessed regular growth over recent years as consumers desire natural, nutritional food and beverage products. Honey also has the ability to create a unique flavor impression that meets the sweet taste requirements of food products. Apart from honey’s impeccable taste, the product is gaining considerable traction from various end user industries. Food & beverages industry has been encouraging the trend of natural and healthy sweeteners driven by the demand for natural and organic products. With the rising chances of obesity and diabetes, consumers have been preferring low-calorie sweeteners. Furthermore, wide application of honey in various food products facilitates the food product manufacturers to prefer honey over other sweeteners.
The rising demand for sustainable living, inclination towards homemade food and environmental issues are driving the apiculture market. Maintenance of good hive health and protection of bees from infections and diseases arising from mites and other parasites or predators are the key challenges in apiculture.
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