IMARC Group, a leading market research company, has recently released a report titled "Propolis Market Report by Product Type (Capsules and Tablets, Liquids, Creams, and Others), Category (Alcohol-based, Alcohol-free), Distribution Channel (Supermarkets and Hypermarkets, Pharmacies and Drugstores, Online Stores, and Others), Application (Food and Beverages, Healthcare, Personal Care and Cosmetics, and Others), and Region 2024-2032". The study provides a detailed analysis of the industry, including the propolis market trends, size, share and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

The global propolis market size reached US$ 699.5 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,063.9 Million by 2032, exhibiting a growth rate (CAGR) of 4.6% during 2024-2032.

Request to Get the Sample Report: https://www.imarcgroup.com/propolis-market/requestsample

Factors Affecting the Growth of the Propolis Industry:

  • Growing Awareness About Health and Wellness:

The increasing awareness about health and wellness among consumers is one of the major factors boosting the market growth. Moreover, the increasing utilization of propolis due to its medicinal properties is favoring the market growth. Along with this, the heightened popularity of natural and alternative medicine, as consumers seek products that offer health benefits beyond basic nutrition, is enhancing the market growth. Furthermore, the increasing demand for propolis in various forms, including supplements, extracts, and as an ingredient in health foods and beverages (F&B), is acting as a growth-inducing factor. Moreover, the rising scientific research that highlights the antimicrobial, anti-inflammatory, antioxidant, and anticancer properties of propolis is promoting the market growth.

  • Expanding Applications in Cosmetic and Pharmaceutical Industries:

The increasing application of propolis in the cosmetic and pharmaceutical industries is positively impacting the market growth. In line with this, the widespread product demand in cosmetics for skincare products that treat acne, reduce blemishes, and enhance skin health, is favoring the market growth. Along with this, the heightened consumer preference for natural ingredients in their skincare routines, boosting the demand for propolis-based cosmetics, is fueling the market growth. Besides this, the growing product utilization in the pharmaceutical sector, owing to its medicinal properties in developing treatments for various ailments, including wounds, burns, and respiratory infections, is catalyzing the market growth.

  • Increasing Focus on Bee Farming Activities and Sustainable Practices:

The rising focus on bee farming activities and the need for sustainable beekeeping practices is stimulating the market growth. In line with this, the heightened adoption of sustainable methods by beekeepers to ensure the health and productivity of their bee colonies and boost the supply of propolis is strengthening the market growth. Furthermore, the burgeoning integration of sustainable practices, such as ethical sourcing and minimizing the use of chemicals to appeal to environmentally conscious consumers, is fostering the market growth. Apart from this, the imposition of several initiatives that support local beekeepers and promote fair trade are also driving the market growth.

Speak to An Analyst: https://www.imarcgroup.com/request?type=report&id=4682&flag=C

Propolis Market Report Segmentation:

By Product Type:

  • Capsules and Tablets
  • Liquids
  • Creams
  • Others

Capsules and tablets represented the largest segment due to their convenience for consumers in dosing and their widespread availability in health supplement markets.

By Category:

  • Alcohol-based
  • Alcohol-free

Alcohol-based accounted for the largest market share as alcohol is a common solvent used in the extraction of propolis to preserve its medicinal properties and ensure a longer shelf life.

By Distribution Channel:

  • Supermarkets and Hypermarkets
  • Pharmacies and Drugstores
  • Online Stores
  • Others

Pharmacies and drugstores represented the largest segment, owing to heightened consumer trust in purchasing health-related products from reputable sources and the availability of professional advice.

By Application:

  • Food and Beverages
  • Healthcare
  • Personal Care and Cosmetics
  • Others

Healthcare accounted for the largest market share, driven by the extensive use of propolis in medical products for its antibacterial, antifungal, and anti-inflammatory properties.

Regional Insights:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

Europe's dominance in the propolis market is attributed to substantial investment in research and development (R&D), leading to advanced technological developments in this field.

Global Propolis Market Trends:

The burgeoning integration of propolis into functional foods and beverages (F&B) due to the rising consumer interest in foods that offer health benefits is positively influencing the market growth. Moreover, the rising product incorporation into a variety of products, including energy bars, nutritional supplements, and health drinks, is favoring the market growth. Furthermore, rapid technological advancements in extraction and processing methods that enable manufacturers to isolate specific compounds within propolis, thereby allowing for targeted health benefits and the development of specialized products, are fostering the market growth.

Top Companies Operated in Propolis Industry:

  • Apiário Polenectar
  • Apis Flora
  • Bee Health Limited (INW)
  • Comvita Limited
  • Herb Pharm
  • Manuka Health New Zealand
  • Natural Factors Nutritional Products Ltd.
  • NaturaNectar
  • NOW Foods
  • Nutraceutical International Corporation
  • Sunyata Alternative Products Ltd
  • Uniflora Nutraceutica Ltda
  • Wax Green

Key Highlights of the Report:

  • Market Performance (2018-2023)
  • Market Outlook (2024-2032)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145