AgroSpectrum - September 2022

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Prismatic View of Apiculture Profitability
The rising prevalence of chronic medical ailments, such as diabetes, heart disease,
and cancer, represents one of the key factors positively influencing the honey market
in India. In addition, the escalating demand for immunity-boosting and health improving products is offering lucrative growth opportunities to honey manufacturers.
The rising utilisation of honey in home remedies is also increasing the sales of
honey in the country. Apart from this, scientific validation of the medicinal properties
of honey and its rising usage in formulating medicines for the treatment of cough
and acute throat infection on account of its antiviral, antifungal, and antibacterial
properties is augmenting the market growth. Additionally, leading players are
focusing on launching different product variants, which is propelling the market
growth. Along with this, the Government of India is introducing various training
programmes and mentoring services to educate farmers on the latest beekeeping
practices. Furthermore, the expansion of organised distribution channels, such as
supermarkets, hypermarkets, convenience stores, and general stores, along with the
thriving e-commerce industry, is stimulating the market growth. Moreover, increasing
investments by key players in research and development (R&D) activities to improve
extraction processes are anticipated to drive the market further.