In a medium saucepan, combine the ketchup and apple cider vinegar over medium heat.
Add the brown sugar and honey to the mixture, stirring until dissolved.
Incorporate the Worcestershire sauce and Dijon mustard, mixing well.
Sprinkle in the smoked paprika, garlic powder, and onion powder.
Season with salt and pepper according to your taste preference.
Bring the mixture to a simmer, reducing the heat to low.
Allow the sauce to cook for about 20 minutes, stirring occasionally.
Taste the sauce and adjust the seasoning if necessary.
Remove from heat and let it cool slightly before using.
Store any leftovers in an airtight container in the refrigerator.