Industry Threats & Opportunities
- Despite new markets, imports will place pressure on prices and hurt industry revenue
- Food and beverage producers are increasingly looking for low-cost imports of honey
- Farmers will be forced to lower prices, as low-priced imports continue to enter the United States... purchase to read more
Industry Analysis & Industry Trends
The industry has experienced volatile patterns, with rising import volumes and the threat of colony collapse disorder adversely affecting its performance. In particular, the increasing penetration of imports will place downward pressure on the price of US honey. Growth will remain stunted over the next five years, though an expansion into territories like medicine and pollination services will help offset major revenue declines... ... purchase to read more
Industry Report - Industry Products Chapter
The two major product categories in this industry are honey and pollination services. Over the past five years, the percentage of income from pollination services has increased relative to honey. Honey imports satisfy the majority of domestic demand for the product.
Honey is purchased directly by the food manufacturing industry, as an ingredient in other food products, and directly by consumers. Per capita consumption of honey in the US has remained relatively constant over the past several decades at about one pound per year. However, domestic honey production accounts for a shrinking portion of consumption as plentiful, lower-cost imports continue to penetrate the domestic market. Roughly 51.0% of industry revenue is derived from the sale of honey products.
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Additional Insights for the
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... purchase to read more