Global Propolis Market Size By Product Type (Capsules, Liquids, Creams), By Distribution Channel (Supermarkets/Hypermarkets, Pharmacies And Drugstores, Online Retail Stores), By Geographic Scope And Forecast

Propolis Market Size And Forecast

Propolis Market size was valued at USD 576.75 Million in 2020 and is projected to reach USD 887.10 Million by 2028, growing at a CAGR of 5.4% from 2021 to 2028.

The increase in the use of propolis products in the food and beverage, personnel care, and pharmaceutical industries has boosted the market’s growth. The increasing use of propolis in cosmetics, and skincare is fueling the growth of the Propolis Market. Additionally, the Propolis Market is growing at a rapid rate, owing to reasons such as its widespread usage in dermatological products, neurodermatitis, ointment formulation, and the treatment of different fungal diseases. The Global Propolis Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Propolis Market Definition

Propolis is a natural resin-like material made by honey bees from substances collected from parts of plants, buds, and exudates. Propolis has been used by man from ancient times, particularly in traditional medicine to cure a number of disorders. Bees use propolis in the construction and repair of their hives for sealing openings and cracks and smoothing out the internal walls, as well as a protective barrier against external invaders such as snakes, lizards, and other animals, as well as weathering threats such as wind and rain, due to its waxy nature and mechanical properties. Bees collect propolis from a variety of plants, mostly poplar in temperate climatic zones. Nowadays, propolis is a natural remedy available in a variety of forms for topical use in many health food stores.

It’s also used in cosmetics and as a popular alternative medicine for treating a number of disorders. Formulations for the cold syndrome (upper respiratory tract infections, common cold, and flu-like diseases) are now being developed, as well as dermatological preparations for wound healing, burn therapy, acne, herpes simplex, genitals, and neurodermatitis. Propolis is also used in mouthwashes and toothpaste to treat gingivitis and stomatitis, as well as to prevent caries. It’s found in a variety of cosmetics, as well as healthy foods and beverages. Capsules, mouthwash solutions, creams, throat lozenges, powder, and numerous purified products from which the wax has been removed are all commercially available.

It is widely utilized in human and veterinary medicine, pharmacology, and cosmetics owing to its antibacterial, antiviral, and antioxidant characteristics. Propolis is a complex mixture of plant-derived and bee-released compounds. In general, raw propolis is made up of roughly 50% resins, 30% waxes, 10% essential oils, 5% pollen, and 5% other organic compounds. More than 300 compounds have been found in various samples, and new ones are continuously being discovered as new varieties of propolis are chemically characterized. The amounts of the different chemicals included in propolis vary depending on where and when it was collected.

Global Propolis Market Overview

The rising use of natural products in many sectors and segments has been a major factor in Propolis Market expansion. Propolis is used as a key raw ingredient in the food and beverage, personnel care, and pharmaceutical industries, which has boosted the market’s growth. The use of propolis products in the pharmaceutical industry has raised significantly over the years. The properties such as anti-bacterial, anti-fungal, and anti-inflammatory, are considered as a key growth factors for propolis. Furthermore, major manufacturers provide propolis-based medicines to meet specific health demands. As a result, one of the primary factors driving propolis demand in the global market is the various health advantages, in addition to the simple availability of products containing propolis extracts.

Because it includes aliphatic alcohols, aldehydes, aromatic acids, flavonoids, terpenoids, and ethers, amino acids chemical components, propolis has several advantages. The increasing use of propolis in food, cosmetics, and skincare is fueling the growth of the Propolis Market. Furthermore, the overall Propolis Market is growing at a rapid rate, owing to reasons such as its widespread usage in dermatological products, neurodermatitis, ointment formulation, and the treatment of different fungal diseases. However, the market’s growth would be restrained by an increase in allergy cases induced by propolis consumption.

Propolis can potentially produce an allergic response when taken for a long period. An eczema-like skin breakout is the most common allergic response. Additionally, a lack of standardization across different brands will become a challenging factor in the market growth. Furthermore, the growing awareness of health and capabilities to boost the immune system and digestion can be seen in the growing demand for propolis in the market. Furthermore, the fact that propolis is a gluten-free substance used by coeliac disease patients helps to drive up demand. This is a lucrative growth opportunity for the Propolis Market.

Global Propolis MarketSegmentation Analysis

The Global Propolis Market is Segmented on the basis of Product Type, Distribution Channel, And Geography.

Propolis Market, By Product Type

• Capsules• Liquids• Creams

Based on Product Type, The market is bifurcated into Capsules, Liquids, and Creams. A wide range of dosing forms of propolis such as capsules, vaginal cream, skin cream is available in the market. Propolis is widely used in dermatological products such as creams and ointment.

Propolis Market, By Distribution Channel

• Supermarkets/Hypermarkets• Pharmacies And Drugstores• Online Retail Stores

Based on Distribution Channel, The market is bifurcated into Supermarkets/Hypermarkets, Pharmacies And Drugstores, and Online Retail Stores. Pharmacies and Drugstores hold the highest share of the market while the online retail store is expected to grow at a faster pace during the forecasted period.

Propolis Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

On the basis of Geography, the Global Propolis Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Europe is considered an emerging region when it acquires a dominant stake in a product segment. Furthermore, owing to its use of propolis in the healthcare business, the United Kingdom was one of the top propolis-consuming countries in this region.

Key Players

The “Global Propolis Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Y.S. Eco Bee Farms, California Gold Nutrition, Nature’s Answer, Now Foods, NaturaNectar, Honey Gardens, Gummiology, Country Life, Natural Factors.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In 2019NaturaNectar launched its bee propolis skincare line in the United States.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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