In a medium saucepan, combine ketchup, apple cider vinegar, brown sugar, and honey.
Stir in Worcestershire sauce, lemon juice, smoked papaprika, garlic powder, onion powder, black pepper, and salt.
Heat the mixture over medium heat, whisking continuously until the sugar dissolves and the sauce begins to simmer.
Lower the heat and let the sauce gently simmer for 15-20 minutes, stirring from time to time. This helps the flavors to blend beautifully. This will allow the flavors to meld together.
For a smoother sauce, transfer the sauce to a blender and puree until smooth. Otherwise, leave as is for a more textured sauce.
Let the sauce cool down then move it into an airtight container and keep it chilled in the fridge.