Propolis Market Share, Latest Trends, Analysis, Forecast, Key Players, Demand and Growth Report 2028

IMARC Group, a leading market research company, has recently releases report titled “Propolis Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global propolis market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the propolis market?

The global propolis market size reached US$ 664 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 906 Million by 2028, exhibiting a growth rate (CAGR) of 5.4% during 2023-2028.

Factors Affecting the Growth of the Propolis Industry:

• Rising Consumer Preference for Natural Health Products:

A significant driver of the propolis market is the increasing consumer preference for natural and organic health products. In recent years, there has been a growing awareness and understanding of the health benefits associated with natural ingredients, including propolis. Known for its antibacterial, antifungal, antiviral, and anti-inflammatory properties, propolis is becoming a popular ingredient in various health and wellness products. This trend is driven by a global shift towards holistic and preventive healthcare, with consumers seeking alternatives to synthetic drugs and chemicals. The natural composition of propolis makes it an appealing choice for those looking to enhance their health naturally, thus driving demand in the market.

• Diversification in Application Areas:

Another factor contributing to the growth of the propolis market is its diversification across multiple application areas. Initially used predominantly in health supplements and traditional medicine, propolis is now being increasingly utilized in a variety of sectors. This includes its incorporation into cosmetic and personal care products, where it is valued for its skin-healing and protective qualities. Additionally, the food and beverage industry is exploring the use of propolis in functional foods and natural preservatives, tapping into its health-enhancing properties. This expansion into diverse industries not only broadens the consumer base for propolis but also opens new avenues for the market growth.

• Increased Research and Development Activities:

The ongoing research and development (R&D) activities in the field of apitherapy (the medicinal use of bee products) play a crucial role in the growth of the propolis market. Scientific research validating the health benefits of propolis contributes to its credibility and acceptance among health practitioners and consumers alike. These studies are essential in exploring new potential uses of propolis, improving extraction methods, and ensuring product quality and safety. The increased research and development (R&D) efforts also help to educate consumers and health professionals about the benefits and applications of propolis, thereby stimulating the market growth.

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Propolis Market Report Segmentation:

Breakup by Product Type:

• Capsules and Tablets
• Liquids
• Creams
• Others

Capsules and tablets represent the largest product type segment in the market due to their convenience, precise dosage, and ease of consumption, making them popular for dietary supplements.

Breakup by Category:

• Alcohol-based
• Alcohol-free

Alcohol-based propolis products dominate the category segment in the market, as alcohol effectively extracts the active compounds of propolis, thus making these products highly potent.

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets
• Pharmacies and Drugstores
• Online Stores

Pharmacies and drugstores represent the largest distribution channel segment in the propolis market owing to their accessibility and consumer trust in these outlets for health-related purchases.

Breakup by Application:

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

The healthcare sector emerges as the largest application segment in the propolis market attributed to its wide use in medicinal products due to its antibacterial, antiviral, and anti-inflammatory properties.

Breakup By Country Insights:

• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
• Middle East and Africa ( Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)

Europe holds the largest share in the global propolis market, due to the high consumer awareness of natural health products and the presence of well-established health and wellness industries in the region.

Global Propolis Market Trends:

The increasing consumer preference for natural and organic health products represents one of the key factors influencing the growth of the market across the globe. This is further driving the demand for propolis due to its medicinal properties. Propolis is gaining popularity in the cosmetic and personal care industries for its anti-inflammatory and antibacterial properties.

Manufacturers are innovating with propolis in various forms, like sprays, creams, and lozenges, to cater to diverse consumer needs. The health benefits of propolis are leading to its increased inclusion in dietary supplements. The market is expanding in emerging economies due to rising health awareness and growing disposable incomes. Ongoing research and development (R&D) into the health benefits of propolis is bolstering its credibility and the market growth.

Leading Companies Operating in the Global Paper Bags 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.

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