Propolis is a resinous material that bees gather from tree buds, sap flows, or other botanical sources, which is used as a sealant for unwanted open spaces in the hive. It is a by-product of beekeeping and has been used since ancient times for its health and medicinal properties. Propolis is rich in flavonoids and phenolic compounds that have antimicrobial, antiviral, anti-inflammatory and antioxidant properties. It is commonly used for topical applications for various skin conditions and for relief of sore throats, coughs and colds.

The global propolis market is estimated to be valued at US$ 707.73 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The propolis market is driven by its various health benefits and wide applications in food and beverages, pharmaceuticals and cosmetics industries. One of the key drivers is its antimicrobial properties which help boost immunity. Propolis acts as a natural preservative and is commonly used as an alternative to chemical preservatives in functional foods and dietary supplements. It also has antiviral effects and is beneficial in relieving symptoms of common colds. Moreover, propolis contains compounds that have anti-inflammatory and antioxidant effects which help protect cells from damage. It is widely used in skin care products due to its healing properties for cuts, acne, and blemishes. The growing demand for natural and herbal products is expected to fuel the growth of the propolis market over the forecast period.

SWOT Analysis
Strength: Propolis has been used traditionally in various medicinal applications due to its anti-inflammatory, antimicrobial and antioxidant properties. Some of the key medicinal uses of propolis include treatment of wounds, infections, dental health issues and as an immune booster. It has minimal side effects and has been proven to be safe for consumption. Its usage in supplements and medicines is expected to rise significantly given its natural properties.
Weakness: Extracting propolis from beehives can be a time-consuming process given its sticky nature. Its availability is limited by seasons and geographic locations where beekeeping is possible. Additionally, quality and purity of extracts may vary depending on source of propolis. These factors make standardized production of propolis products challenging.
Opportunity: Increasing consumer preference for natural remedies is driving the demand for propolis-based supplements globally. Rising awareness about medicinal benefits of propolis offers opportunities for new product innovations and applications. Furthermore, proliferating use of propolis in animal feed and petcare products is an emerging avenue for market growth.
Threats: Stringent regulatory approvals for new medical uses of propolis could delay market expansion. Lack of clinical research data on certain therapeutic effects also poses challenges. Substitutes available in the natural medicines market such as honey, royal jelly etc. also compete for market share. Price volatility of raw materials used for propolis extraction is a threat.

Key Takeaways
The global Propolis Market Growth is expected to witness high growth over the forecast period supported by rising health-conscious consumer base preferring natural remedies. The market size is projected to reach US$ 1,404.55 Mn by 2030 from US$ 707.73 Mn in 2023, registering a CAGR of 6.7%.

Regional analysis
Europe currently dominates the propolis market attributed to high propolis consumption as nutritional and dietary supplements. Availability of native bee species yielding high-quality poplar type propolis also supports Europe’s dominance. However, Asia Pacific is expected to emerge as the fastest growing regional market on the back of growing Chinese propolis industry catering to domestic as well as export demand.

Key players
Key players operating in the propolis market are Baxter International Inc., Fresenius SE & Co. KGaA, CSL Limited, Grifols, S.A., B. Braun Melsungen AG, Hikma Pharmaceuticals PLC, Octapharma AG, Kedrion S.p.A., Shanghai RAAS Blood Products Co., Ltd., Terumo Corporation, JW Life Science, Celgene Corporation, Pentapharm Ltd., Haemonetics, Corporation, Macopharma. These players are focused on expanding their portfolio of propolis-based nutritional and medicinal products through.

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