Natural Honeycomb Market Size

Goals

To obtain the total global market size of natural honeycomb by ton and revenue for the purposes of creating an investor presentation and supply chain planning.

Early Findings

Preliminary research indicates that the amount of honeycomb produced globally is not publicly available. However, using several data points, an estimated amount of honeycomb produced annually can be triangulated.
  • A typical beehive produces 400 pounds of honeycomb per year.
  • A typical beehive produces between 20 and 60 pounds of honey per year.
  • An average amount of honey for a typical beehive would be about 40 pounds per year (20 + 60 = 80 /2)
  • Therefore, the ratio of honey to honeycomb is 40 pounds of honey to 400 pounds of honeycomb or one pound of honey for every 10 pounds of honey comb.
  • As of 2016, there were 90.5 million beehives in the world. If each one produces 400 pounds of honeycomb, this would be a total of 36.2 billion pounds of honeycomb or 18.1 million tons (36.2 billion pounds / 2,000).
  • India has the most beehives in the world, with 12 million, which means India produces approximately 4.8 billion pounds (12 million x 400) of honeycomb or 2.4 million tons (4.8 billion / 2,000) per year.
  • China and Turkey are the second and third countries in terms of number of beehives.
  • There are 2.8 million beehives in the U.S., meaning the U.S. produces approximately 1.12 billion pounds (2.8 million x 400) of honeycomb or 560,000 tons (1.12 billion / 2,000) per year.
  • This source provides the retail honeycomb price for six regions in the United States.
  • The average retail honeycomb price in December 2018 was $12.69 per pound. Assuming this average is the same globally as it is in the U.S., the estimated annual revenue for honeycomb would be $459.38 billion (36.2 billion x $12.69).

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