Beekeeping - US Market Research Report

Time: 2018-03-19

Sticky situation: Affordable imports will limit growth, but new uses of honey will offset some losses

Like much of the US agricultural sector, the Beekeeping industry is influenced by weather patterns, import competition and the threat of disease outbreak. Of these, the threat of disease has particularly defined the industry in recent years. As a result, hives died because they could not sustain themselves without worker bees. This has wiped out much of the domestic capacity for honey production over the past five years. The industry is not expected to experience much structural change over the five years to 2022. However, industry revenue is anticipated to decelerate. This slowdown in revenue growth is largely attributable to sluggish growth in per capita sugar and sweetener consumption.


Industry Statistics & Market Size

RevenueAnnual Growth 12-17Forecast Growth 17-22
$341m2.1%x.x%lock
ProfitEmploymentBusinesses
x.x%lock33,68031,190


Market Share of Companies

There are no companies with a dominant market share in this industry.


Industry Threats & Opportunities

Despite new markets, rising imports will place pressure on prices and industry revenue

The price disparity between US and foreign honey has kept exports of US honey low

Unpredictable weather patterns will continue to set the tone for revenue spikes and drops


Industry Report - Starting a New Business Chapter

Barriers to entry into the Beekeeping industry are moderate. The equipment required to enter the industry is not expensive and initial stock is relatively easy to obtain, with many established apiarists offering “nucleus colonies” for sale. Therefore, capital requirements do not impede new entrants into the industry. However, state regulations may limit potential industry entrants. Beehives must be registered with state departments of agriculture and are subject to inspections. Furthermore, honey bees must be certified for shipment between states. Additionally, a small degree of technical knowledge is required by beekeepers to keep their hives well maintained and ensure optimal growth.


Additional Insights for the Beekeeping Industry

IBIS World identifies 250 Key Success Factors for a business. The most important for the Beekeeping Industry are

Ability to raise revenue from additional sources

Must comply with government regulations

Effective quality control

IBIS World analysts also discuss how external factors such as Per capita sugar and sweetener consumption and Demand from crop production in the Beekeeping industry impact industry performance.. 

 



Previous:10 Tips for Beekeeping by American Farmers in Winter

Next:Global Bee Products Market 2018