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.
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
IBISWorld 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
IBISWorld 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..
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