NAICS 112910 Quarterly Industry Report
Apiculture
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 112910Sector: Agriculture, Forestry, Fishing and Hunting (11)Updated: Q1 2026
About This Report
This Fair Market Value industry report (NAICS 112910) provides valuation-focused intelligence for professionals assessing apiculture and beekeeping businesses. Additional data is drawn from Bureau of Labor Statistics[5], U.S. Census Bureau[6].. Data is sourced from USDA NASS honey production surveys[7], USDA ERS pollination service analysis[4], and SBA size standards[8] to support business appraisals, acquisition due diligence, lending decisions, and succession planning for beekeeping enterprises.
Industry Definition & Overview
Apiculture (NAICS 112910) encompasses establishments primarily engaged in raising bees for honey production, pollination services, and the collection of hive products including beeswax, royal jelly, propolis, pollen, and bee venom. The USDA National Agricultural Statistics Service[3] reported roughly 2.6 million honey-producing colonies in 2024, yielding 134 million pounds of honey valued at $361.5 million. Pollination service revenue reached $226 million in 2024, with total U.S. producer spending on pollination services exceeding $400 million. Beekeepers have earned more from pollination contracts than from honey sales since 2022, reflecting a fundamental shift in industry economics.
Almond pollination in California represents the single largest revenue opportunity, generating $325.8 million in 2024, or roughly 81% of total U.S. pollination receipts. An estimated 2 million beehives are transported to California almond orchards each winter. Beyond almonds, pollination contracts serve cherry, apple, blueberry, and other fruit and vegetable crops across the country. The USDA Economic Research Service[4] tracks industry economics alongside import competition, noting that imported honey, primarily from Argentina, Brazil, and India, substantially undercuts domestic wholesale prices. Colony health challenges including varroa mites, pesticide exposure, habitat loss, and colony collapse disorder continue to affect production capacity.
Business valuations for beekeeping operations must assess colony inventory and health status, equipment condition (hives, extractors, bottling lines), pollination contract portfolios, honey brand value and distribution channels, geographic operating range, and transportation assets for migratory operations. The split between honey production and pollination service revenue streams requires appraisers to evaluate both income sources when determining enterprise value.
What's Included in This Industry
- Sector-specific valuation multiples and financial benchmarks for apiculture and beekeeping operations
- Revenue and profitability analysis across honey production, pollination services, and hive product segments
- SBA size standard classification and lending threshold data for NAICS 112910
- Comparable transaction data from recent beekeeping operation sales, acquisitions, and business transfers
- Pollination contract analysis covering almond, fruit, vegetable, and specialty crop service agreements
- Workforce and labor cost benchmarking for beekeepers, seasonal helpers, and migratory operation drivers
- Industry risk assessment including colony health, import competition, pesticide exposure, and weather impacts
- Regulatory compliance overview covering pesticide use, honey labeling, and interstate colony movement permits
- Capital expenditure profiles for hive equipment, extraction facilities, bottling lines, and transport vehicles
- Colony productivity metrics including honey yield per hive, colony survival rates, and pollination fee trends
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Agriculture, Forestry, Fishing and Hunting | 11 |
| Subsector | Animal Production and Aquaculture | 112 |
| Industry Group | Other Animal Production | 1129 |
| NAICS Industry | Apiculture | 11291 |
| National Industry | Apiculture | 112910 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 111998 | All Other Miscellaneous Crop Farming | All other miscellaneous crop farming operations that hire beekeeping services for pollination of specialty crops and seed production fields |
| 111339 | Other Noncitrus Fruit Farming | Other noncitrus fruit farming operations including blueberry and cherry growers that contract pollination services from commercial beekeepers |
| 311999 | All Other Miscellaneous Food Manufacturing | All other miscellaneous food manufacturing operations that purchase raw honey for processing into packaged consumer honey products |
| 311340 | Nonchocolate Confectionery Manufacturing | Nonchocolate confectionery manufacturing operations using honey as a sweetener ingredient in candy and confection production lines |
| 424490 | Other Grocery and Related Products Merchant Wholesalers | Other grocery and related products merchant wholesalers distributing packaged honey products to retail grocery and specialty food channels |
| 325620 | Toilet Preparation Manufacturing | Toilet preparation manufacturing establishments using beeswax, royal jelly, and propolis in cosmetic and personal care product formulations |
SBA Lending Summary
56
Total SBA Loans
$8.9M
Total Loan Volume
$158K
Average Loan Size
10 yrs
Average Loan Term
10.36%
Average Interest Rate
256
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[2]
Key Insight: The SBA[9] classifies Apiculture (NAICS 112910) with a size standard of $3.5 million in average annual receipts. Most commercial beekeeping operations fall within this threshold, qualifying for SBA-backed lending[10], government contracting preferences, and USDA agricultural support programs including pollination research grants and honey market development initiatives. Eligible businesses can access SBA 7(a) loans[11] for working capital, equipment, and acquisition financing, while 504 loans[12] support major fixed-asset purchases including real estate and heavy machinery.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Firstrust Savings Bank | 8 | $4.4M | $550K |
| 2 | Stone Bank | 8 | $2.0M | $250K |
| 3 | Celtic Bank Corporation | 8 | $1.2M | $150K |
| 4 | Columbia Bank | 16 | $800K | $50K |
| 5 | The Huntington National Bank | 8 | $336K | $42K |
Frequently Asked Questions
Common questions about this industry.
What is the NAICS code for beekeeping?
Apiculture is classified under NAICS code 112910, covering establishments primarily engaged in raising bees for honey production, pollination services, and the collection of hive products including beeswax, propolis, and royal jelly.
What is the SBA size standard for apiculture?
The SBA[9] sets the size standard for NAICS 112910 at $3.5 million in average annual receipts, qualifying eligible beekeeping operations for small business lending programs and contracting preferences.
How large is U.S. honey production?
The USDA NASS[3] reported roughly 2.6 million honey-producing colonies yielding 134 million pounds of honey valued at $361.5 million in 2024, with pollination service revenue adding $226 million to industry totals.
What factors drive beekeeping operation valuations?
Key valuation drivers include colony inventory and health status, pollination contract portfolios, honey brand value, extraction and bottling equipment, transportation assets for migratory operations, and geographic access to pollination markets per USDA NASS[3] production data.
How important are pollination services to beekeeping revenue?
Pollination services have surpassed honey production as the primary revenue source for many commercial beekeepers since 2022. California almond pollination alone generated $325.8 million in 2024 per USDA ERS[4] data, with roughly 2 million hives transported annually.
What risks affect beekeeping operation valuations?
Critical risks include varroa mite infestations, pesticide exposure, colony collapse disorder, extreme weather events, imported honey price competition per USDA ERS[4] trade data, and regulatory changes in pesticide application near pollinator habitats.
What is migratory beekeeping?
Migratory operations transport colonies across multiple states to service sequential pollination contracts (almonds, then fruits, then row crops) and access diverse honey flows. Transportation assets, route logistics, and contract portfolios are critical valuation factors for migratory enterprises.
What capital investments do beekeeping operations require?
Major capital items include bee colonies (hives, queens, and populations), extraction and bottling equipment, wax processing systems, trucks and flatbed trailers for colony transport, warehouse storage, and facility space for honey processing per USDA[13] agricultural equipment standards.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [3]USDA National Agricultural Statistics Service nass.usda.gov
- [4]USDA Economic Research Service ers.usda.gov
- [5]Bureau of Labor Statistics bls.gov
- [6]U.S. Census Bureau census.gov
- [7]USDA NASS honey production surveys nass.usda.gov
- [8]SBA size standards sba.gov
- [9]SBA sba.gov
- [10]SBA-backed lending sba.gov
- [11]SBA 7(a) loans sba.gov
- [12]504 loans sba.gov
- [13]USDA usda.gov
Disclaimer
This publication has been prepared by Fair Market Value (“Fair Market Value”) for informational purposes only. It is provided on an “as-is” and “as available” basis. Fair Market Value makes no representations or warranties, express or implied, regarding the merchantability, fitness for a particular purpose, completeness, or accuracy of the data or information contained herein. This publication is not intended to be, and should not be construed as, professional financial, legal, tax, or investment advice. Users should consult with qualified professionals before making any financial or business decisions based on the information presented.
To the extent permitted by law, Fair Market Value disclaims all liability for loss or damage, direct and indirect, suffered or incurred by any person resulting from the use of, or reliance upon, the data in this publication.
Copyright © 2026 Fair Market Value. All rights reserved. All data, information, articles, graphs, and content contained in this publication are copyrighted works and Fair Market Value hereby reserves all rights. No part of this publication may be copied, reproduced, republished, uploaded to a third party, or distributed without the prior written permission of Fair Market Value.