Estimates of
the National Bee Board of India show that the Indian honey industry has grown
by almost 200% in the last 12 years. Between 2012 to 2018, the CAGR of honey
stood at 10.9%. Between 2017 to 2018, Indian produced almost 1.05 lakh metric tones
of honey and the industry’s worth stood at around INR 15,579 million. Currently,
there are about 35 lakh bee colonies across the country rising by almost 400%
from the year 2005. By the end of 2024, the Indian honey industry is predicted
to grow at a further CAGR of 10.2% and should reach a valuation of nearly INR
28.057 million. The demand for honey in India is right now at its peak and more
industries are joining the fray to consume honey.
What is
driving the Indian honey market?
India ranks
seventh among all the global honey exporters, contributing almost 4.5% of the
entire world’s demand. It earns almost INR 70 crore in foreign exchange through
exports. Plus, the domestic demand for natural honey is on the rise as well, up
by almost 200%, with multi-floral flavoured honey topping the list among the
known variations in India. The country’s pharmaceutical industry is a major
consumer owing to honey’s medicinal properties, closely followed by cosmetics
and domestic households.
Rising
awareness about honey being alternatives to artificial sweeteners is also
boosting the market. Not only are Indians settling for honey in place of
processed sugar, but the food industry is also shifting to honey to add flavor
and bring variation in the market. Additionally, the Government’s policies to
establish beekeeping development centers across 16 states are helping the trend
with farmers having access to better modernisation and increased productivity. The
fertilization of honey bees drive has increased production by almost 15 to 20
times, thereby, increasing revenue and improving investment.
Yet, certain
challenges do exist
Although the
Government plans to create over 3 lakh jobs in the Indian honey sector, there
are certain challenges that currently plague the industry. Greater supply is
reducing the per kilogram price of honey forcing farmers to take a hit on their
profits. On top of that, transportation poses a major threat of intensifying
the loss rate and India is still road-dependent which often sees delays due to
state border-related issues and more.
Climate
change is the next biggest threat. A recent survey has shown that natural
predators of bees, mainly birds, are migrating from Himachal and Punjab to
Maharashtra (the largest producer of honey) due to unpleasant winters in the
north, thus, affecting the bee population in the south. Also, summers and
winters are overflowing into spring and autumn and negatively impacting the
peak honey-producing seasons. Lastly, some antibiotics that are being used on
honeybees are also creating issues with their population and honey production
and the market is currently unable to function at its full potential.
However,
there are silver linings
The
Government of India has rolled out various policies to keep the price
volatility of honey in check. It is gradually shifting to honey-based food
services in airlines and railways along with introducing honey in school
mid-day meals. This will stabilise the economy surrounding the honey industry. Demand
will meet supply and profits will come to both sides. Plus, a few suggestions
are also being placed on the table about diversifying the honey industry by
extracting bee pollen and venom as well along with honey.
Back in 2005,
Indian merely had 8 lakh bee colonies. And the country produced only 35 metric
tones of honey. The surmounting growth is proof that the industry has
flourished and will rise more. With assistance form strategic regulations and
investments, the country can indeed become a leading honey
producer and also halt the ecological imbalance being created
by the diminishing bee population.
About the Author
Sonia
Kakkar is a freelance writer and a blogger who
associates with brands and help them in their online brand promotions.
Currently she is an associate at GHCL Limited – a well-diversified group that has ascertained
its footprints in Chemicals, Textiles and Consumer Product Segments. In her
free time, Sonia loves to watch movies, hangout with friends and read
novels.
