Beekeeping in the US - Industry Research Report

How sweet: Falling agriculture prices and stabilizing consumer demand for honey are expected to affect industry revenue growth

According to data from the US Department of Agriculture (USDA), the number of honey-producing colonies in the Beekeeping industry in the US has decreased slightly in 2022 by 1.1%. Despite shrinking production volumes due to reduced farm and consumer demand, honey prices exhibited a 12% increase in 2022. A sharp rebound in consumer demand for agriculture products sparked increased demand from farms for pollination services. According to the USDA, which started collecting data on pollination services in 2015, revenue from that segment has supported industry revenue growth, until 2020 when it exhibited a 17.5% decline, causing industry revenue to fall 11.7% in 2020 alone. Reduced demand for pollination services caused industry revenue to decline 10.3% in 2022. Industry revenue has been falling at a CAGR of 6.7% over the past five years, and is expected to reach $624.2 million in 2023. This includes a 1.2% increase in 2023 as farm demand for pollination services continues to increase driven by consumer demand.

Operators in this industry raise bees. They collect and gather honey and sell bees, royal jelly, beeswax, propolis, pollen, venom and other bee products.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.