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.

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.

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What is Propolis?

Propolis represents a resinous mixture that is prepared by honeybees using substances collected from various parts of buds, plants, and exudates. It generally comprises essential oils, pollen, waxes, flavonoids, phenolic acids, and several organic compounds, including vitamins, ketones, sugars, steroids, lactones, fatty acid esters, etc. Propolis is brittle, hard, lipophilic and becomes pliable, soft, gummy, and sticky upon heating. It possesses a characteristic and pleasant aromatic fragrance and varies from dark brown to yellow green in color according to its age and origin. As propolis exhibits anesthetic, antioxidants, and wound-healing properties, it is extensively consumed to strengthen the immune system across the globe.

What are the growth prospects and trends in the propolis industry?

The growing prevalence of cancer is primarily driving the propolis market. Additionally, the widespread adoption of natural agents with immune-strengthening potential, on account of the sudden outbreak of the COVID-19 pandemic, is further bolstering the market growth. Besides this, the increasing utilization of raw materials and secondary products comprising propolis in the healthcare and personal care sectors is acting as another significant growth-inducing factor. Moreover, the escalating demand for propolis, as it is rich in bioactive compounds and also provides bactericidal, antimicrobial, antiviral, anti-inflammatory, and immunomodulatory properties, is positively influencing the global market. Apart from this, leading manufacturers are providing numerous propolis-based variants that cater to various medical needs, thereby stimulating the market growth. Furthermore, they are engaging in packaging improvement and promotional campaigns, such as celebrity endorsements, to retain a competitive edge, which is expected to fuel the propolis market over the forecasted period.

Who are the key players operating in the industry?

The report covers the major market players including: 

• 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.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Product Type:

• Capsules and Tablets
• Liquids
• Creams
• Others

Breakup by Category:

• Alcohol-based
• Alcohol-free

Breakup by Distribution Channel:

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

Breakup by Application:

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

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

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Key Highlights of the Report:                                                           

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• The Impact of COVID-19 on the Global Market
• Value Chain Analysis
• Structure of the Global Market
• Comprehensive mapping of the competitive landscape

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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