Propolis Market Size, Share, Growth Analysis, By Product Type(Capsules and Tablets, Liquids, Others), By Distribution Channel(Retail Store, Online, Others), By Region - Industry Forecast 2024-2031

In 2023, North America accounted for the highest propolis market share in terms of revenue. The high demand is mainly attributed to the US and Canada. Increasing incidences of genital herpes and other herpes viruses are among the key drivers of demand for it. Propolis has emerged as a potential natural remedy for these disorders. These conditions tend to be more prevalent in the US; thus, propolis serves as a needful remedy among patients. Increasing imports, which now require propolis products, will enhance market growth considerably within the next few years. Expansion in the awareness of consumers regarding health benefits of propolis and natural medicines boosts propolis market growth. 

Asia-Pacific is expected to surge by 2.7% throughout the forecast period, primarily boosted by an increasing demand for propolis products.  Such growing disposable incomes and other factors are anticipated to create a large number of buyers for propolis and other health and wellness supplements. Also, the growing incidence of cancer and other chronic diseases that leads to an increasing trend toward natural therapies is driving the market growth here. With the increasing awareness of its health benefits, the consumption of propolis is expected to increase in the region. This trend, if translated into a greater commitment to wellbeing, will be expected to sustain the growth of the propolis industry over the forecast period.