The global propolis market size is expected to reach USD 954.37 million by 2032, expected to grow at a CAGR of 4.90% during the forecast period.
The Propolis Market is experiencing significant growth as consumer awareness about natural and organic products rises. Propolis, a resinous substance produced by bees from plant resins, has been used for centuries for its medicinal properties. It is rich in antioxidants, flavonoids, and phenolic compounds, offering benefits such as antimicrobial, anti-inflammatory, and wound-healing properties. These attributes have made propolis a highly sought-after ingredient in pharmaceuticals, nutraceuticals, cosmetics, and the food and beverage industries.
Market Growth Drivers
- Rising Demand for Natural Remedies
- Consumers are increasingly opting for natural and herbal treatments over synthetic alternatives due to perceived safety and fewer side effects.
- Expanding Use in Skincare and Cosmetics
- Propolis is gaining popularity in cosmetic formulations for its antimicrobial and anti-aging properties, contributing to its demand in the beauty and personal care sectors.
- Growth in Nutraceuticals and Functional Foods
- The incorporation of propolis in dietary supplements, functional foods, and beverages as an immune booster is a major growth driver.
Some of the major players operating in the global market include:
- Apis Flora
- Apiary Polenecter
- Bee Health
- Comvita
- Herb Pharm
- NOW Foods
- Sunyata Pon Lee
- Uniflora Health Foods
- Wax Green
- YS Organic Bee Farms.
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Key Market Trends
- Preference for Organic and Sustainable Products
- Consumers are favoring sustainably sourced propolis, aligning with broader environmental and ethical considerations.
- Proliferation of Propolis-Based Supplements
- New product launches, such as capsules, sprays, and tinctures, are expanding consumer choices.
- Use in Oral Care Products
- Propolis is being incorporated into toothpaste and mouthwashes for its antimicrobial benefits.
Recent Developments
- In June 2023, Comvita, a renowned provider of authentic Manuka honey, has recently introduced Immune Bee Propolis, a new product with double the amount of active ingredients in a single daily dose.
- In January 2021, INW (Innovations in Nutrition + Wellness), a prominent player in custom research and development in the nutrition and wellness industry, has recently acquired Bee Health, a supplement manufacturer. This acquisition is aimed at enhancing INW’s presence and expansion in the market.
- In September 2021, Comvita Ltd recently revealed a strategic partnership with the Caravan, collaborate with the Creative Artists Agency (CAA), an entertainment and sports agency. Through this new partnership, Comvita aims to raise consumer awareness about the advantageous qualities of Ma?nuka Honey & Propolis.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:
The research report categorizes the market into various segments and sub-segments. The primary segments covered in the study include type, application, end use and region. The splitting of the market into various groups enables businesses to understand market preferences and trends better. Also, stakeholders can develop products/services that align with the diverse needs of consumers in the industry. Besides, the research study includes a thorough examination of all the major sub-segments in the market.
Propolis, Source Outlook (Revenue – USD Million, 2023 – 2032)
- Capsules And Tablets
- Liquids
- Others
Propolis, Distribution Channel Outlook (Revenue – USD Million, 2023 – 2032)
- Retail Store
- Online
- Others
The Propolis Market is poised for robust growth, driven by increasing consumer preference for natural and sustainable products. Its broad applications across pharmaceuticals, nutraceuticals, cosmetics, and food industries make it a versatile and valuable ingredient. While challenges such as raw material dependency and regulatory complexities persist, advancements in production technologies and rising awareness of its health benefits are expected to propel the market forward. With continued innovation and strategic initiatives, propolis is set to remain a key player in the natural products landscape.
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