Honeybees under beehives is a no brainer business. It is easy to breed them, watch them grow, shed some honey and move on. This has been the thing of past, but with technology, it’s drastically different scenario. The market being highly lucrative and subject to research, constant changes and every effort is made to maintain a potential hive. In this regards, IoT is of big help to beehive in terms of data collection, storage, health status of bees, temperature monitoring, and improvement in pollination and boosts the breeding stock. The data collection techniques have gained a technological leverage that enables scientific communities all over the world to have a multivariable correlation among interrelated external and internal factors.
According to the latest report on Beehive Market published at Upmarketresearch, the driving factors for the market growth are use of honeybees for medicinal purpose and rise in number of honey collection centers. The market also registers a growth in number of small and large size retail outlets that deal in quality honey products. Technological advancements pertaining to storage and honey collection is gaining a positive traction for future market developments. Use of big data analytics for data collection and analysis of honey is a big step towards digitalization of honey business. On contrary, challenges such as low awareness on breeding of honeybees that result in massive death of potential honeybees and use of conventional shock techniques for honey extraction might hinder the market growth in the near future.
The beehive market segmented by form is inclusive of form and application. Application segment includes pharmaceutical, personal care and cosmetics. Pharmaceutical and cosmetics account for a higher share since beehives are used for medicinal purpose.
Asia-Pacific market holds a dominance in the global market due to breeding of honeybees and honey cultivation on a large scale. Manufacturers are now shifting towards possessing conducive conditions for breeding honeybees. The market has lucrative opportunities due to the presence of small and large retail outlets with efficient branding.
North America and Europe market have been at forefront due to efficient storage and preservation techniques followed. Government support and funding for R&D on honeybees is gaining a wider traction, due to which the region witness a rise in number of beehive producers. The business being highly lucrative also stimulates the market developments.
Middle East and Africa regions have registered an upward traction owing to effective use of beehives for honey production. The region is home to several honey collection centers having certified professionals.
Prominent players profiled in the beehive market report include Abeeco Pure, Bee Whisper, Fernz and ApiHealth NZ Ltd.