The global apiculture market is expected to grow at a CAGR of 2.67% during the forecast period. Based on the product, the global apiculture market has been segmented into honey, beeswax, and others.
To produce honey, the worker bees collect nectar from flowers and plant saps and convert it with the help of enzymes in their bodies and store it in their hives. Apart from being consumed directly, honey is used as a natural sweetener in different food and beverage products, as well as in beauty products such as creams and oils.
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Honey can vary in color based on the source of nectar used by the bees. Based on the sources of nectar collection, honey is segmented into unifloral and multifloral honey. The unifloral honey is produced from the nectar of on flower species, while the multifloral honey is produced using nectar from different flower species.
Some of the premium varieties of honey include the Tupelo honey produced in the US and Manuka honey produced in New Zealand, which are among the most expensive honey in the market. The honey segment of the global apiculture market is expected to grow significantly during the forecast period.
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