Propolis Market Overview:
Studies have revealed that the global Propolis Market is expected to grow with a CAGR of 6.23% during the forecast period of 2023-2032. The Propolis Market Share is projected to grow from USD 0.637 Billion in 2023 to USD 1.0336 Billion by 2032. The market forecast report is made based on an extensive analysis of the current and past market trends.
Propolis is a resin-like mixture that is produced due to the mixing of beeswax and bee-saliva with secretions collected from different parts of plants like buds, flowers, or sap.
Due to its anesthetic and antioxidant properties, there is high demand for Propolis in the pharmaceutical sector across the globe.
During the COVID-19 pandemic, the growth of Propolis Market was severely hampered due to strict lockdown. Production of Propolis was low due to lesser transportation facilities and the non-availability of laborers. But the global Propolis Market Value is estimated to reach high in the coming years due to the growth of the pharmaceutical sector in every region of the world.
Lack of standardization of different Propolis Brands is an important challenge and would hamper the growth of this sector. Due to the lack of transparent information, consumers would hesitate in buying ointments or other products with Propolis as a constituent. This will affect the global market of Propolis negatively.
Market Segmentation:
The global Propolis Market is huge and it is segmented based on various factors such as region, application, product types, and distribution channels.
Based on the product type, the market is divided into tablets & capsules, creams, liquid, and others.
Based on the distribution channel, the market is divided into Online Retail Stores and Online Retail stores. The Offline retail stores are again sub-divided into pharmacies, supermarkets, and others.
Based on application, the market is divided into cosmetic, pharmaceutical, and food sectors.
Regional Classification:
Based on region, the global Propolis Market is sub-divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America had occupied the maximum Propolis Market Share in 2020 and is expected to have steady growth during the forecast period.
The Asia-Pacific region is also expected to do well during this forecast period.
Propolis is known for boosting the immune system and digestive health. Propolis is also helpful in reducing wrinkles. The high disposable income and rise in the elderly population in Europe would contribute to the Propolis Market Growth in the coming years. Studies have shown that Propolis has chemo-preventive properties. The rising incidences of cancer in Europe would create help in significant growth of the Propolis Market Trends in Europe during the forecast period.
Key Players:
Major players in the propolis market attempting to increase market demand by investing in research and development operations include Apis Flora (Brazil), Sunyata Pon Lee (Brazil), Bee Health Limited (UK), Zhifengtang (China), Laprell's Beehive Products, Inc. (Canada), Apiário Polenectar (Brazil), Comvita (New Zealand), Wax Green (Brazil), Manuka Health New Zealand (New Zealand), and Hi-Tech Natural Product India Ltd. (India).
Industry News:
The key players of the global Propolis Market are going for joint ventures, acquisitions, and new product launches which contribute to the steady growth of the market.
Comvita Ltd had announced a partnership with Caravan in 2021 which will lead to the formation of a new lifestyle brand using propolis. This joint venture also aims at making consumers aware of the benefits of propolis.
INW (Innovations in Nutrition + Wellness) had acquired Bee Health (UK), a leading manufacturer of nutritional supplements in 2021.
Lehning Laboratories had come up with its new organic supplement brand, Propolis da Baccharis in 2019. There are two ranges of products under this brand- Api Spray and Propomax.
Related Reports:
Calf Milk Replacers Market Research Report Information By Type (Medicated, Non Medicated), By Source (Dairy Based and Non-Dairy Based), By Form (Liquid And Powder) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032
Marktforschungsbericht für Palmöl: Informationen nach Typ (rohes Palmöl, Palmkernöl und andere) Anwendung (Speiseöl, Biodiesel, Schmierstoffe, Kosmetika und andere) und Region (Nordamerika, Europa, Asien-Pazifik und Row) - Prognose bis 2030
レシチン市場調査レポート：ソース別の情報（大豆、卵、ヒマワリなど）、用途（食品および飲料、医薬品および栄養補助食品、パーソナルケアおよび化粧品など）、フォーム（粉末、液体、顆粒）および地域（北米、ヨーロッパ、アジア太平洋およびその他の地域）-2030年までの予報
About Market Research Future:
Market Research Future (MRFR) is a world-renowned market research company that offers a wide range of services, complete with accurate and precise analysis about diverse markets, sub-markets and target consumers. Our approach is a combination of extensive information and multiple data sources that help provide an exhaustive comprehension about the latest major developments to the client, in addition to future events and what measures and decisions to take on the basis of the same.
Our fast-emerging market research firm is armed with an adept research analysts’ team that focuses on gathering useful data and analytics in terms of economic and technological advances. Our proficient analysts conduct industrial visits in a bid to achieve reliable and accurate information from established market participants. One of our foremost objectives is to keep the client well-versed with all the lucrative opportunities as well as challenges surrounding various global markets. We offer step-by-step guidance to our clients, through consulting and strategic services, enabling them to arrive at a practical and effective decision.
Contact Us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street, 5Th Floor,
New York, New York 10013
United States of America
+1 628 258 0071
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian