A U.S. study looked at the honey market in Algeria and the opportunities it presents while highlighting the country’s potential in this area. “Analytical Tip”, a firm specializing in emerging market research, puts forward figures on the evolution of the honey market in Algeria, currently estimated at US$39.1 million in 2022 and “should reach a stock market valuation of US$70.6 million by 2031, with a CAGR of 6.8% in the 2023-2031 forecast period”.
The same source explains the growth rate of investment in apiculture by the interest ‘held by local investors’ in beekeeping, which has led to the emergence of a ‘thriving honey industry’ with ‘distinctive characteristics’ that distinguish it from other world honey markets.
According to the same source, Algeria has significant potential which unfortunately remains untapped and which could enable it to play an important role on the international market.
Honey produced in Algeria is often appreciated for its unique taste, colour and aroma, attracting consumers looking for something special and different,” the paper states.
In addition to natural potentialities, the analysts pointed to another phenomenon related to traditional know-how. “Traditional beekeeping, deeply rooted in Algerian culture, is the backbone of the industry.
According to the study’s editors, “Even if current production meets national needs, Algeria can expand its production by exploiting international markets in search of real Algerian honey. Given the current growth trajectory, projections for the Algerian honey market are optimistic.”
Source; Algeriainvest.com
