What is the global market size of Propolis Market?

Global Propolis Market size was valued at USD 636.6 million in 2021 and is poised to grow from USD 647.4 million in 2022 to USD 781.1 million by 2030, growing at a CAGR of 2% in the forecast period (2023-2030).

What is the key driver of Global Propolis Market?

One of the major drivers of the global propolis market is the increasing demand for natural and organic products in various industries, including food and beverage, cosmetics, and healthcare. Propolis, being a natural and organic ingredient, is gaining popularity among consumers due to its health benefits, which is driving the demand for propolis-based products. Additionally, propolis is being widely used as a natural food preservative and flavor enhancer in the food and beverage industry, further contributing to the market's growth.

What is the key market trend for Global Propolis Market?

The rising demand for propolis-based products in the cosmetics and personal care sectors is one of the major market trends in the propolis market. Propolis is a great ingredient for skincare products because of its antibacterial and anti-inflammatory qualities. The propolis market in this sector is expanding due to the rising demand for natural and organic skincare products. Propolis is increasingly being used in functional foods and dietary supplements due to its potential health advantages.

Which region accounted for the largest share in Global Propolis Market?

North America dominated the global propolis market due to the rising demand for natural and organic products in the region. The United States and Canada are the key contributors to the growth of the market in North America. The region's strong economy, high disposable income, and rising health consciousness among consumers are driving the demand for natural products, including propolis. Additionally, the presence of several key players in the region is contributing to the market growth.

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

Report ID: SQMIG35A2163 | Region: Global | Published Date: September, 2024
Pages: 157 | Tables: 118 | Figures: 77

Propolis Market News

In March 2024, to address further the demand for health and beauty, Manuka Health introduced three new ranges, including its first branded skincare. Together, these collections fully leverage the powers of raw manuka honey, propolis, and royal jelly to boost energy levels, strengthen resilience, and enhance general wellbeing.
In June 2022, BEE&YOU launched a propolis and vitamin C shot, which provides a combination of ingredients that can enhance energy levels and stimulate the immune system while helping customers meet their daily nutritional requirements.
In September 2021, Caravan secured a strategic partnership with Comvita Ltd., a company that built a celebrity-endorsed lifestyle brand using topical natural therapeutic applications of manuka honey and propolis to promote consumer awareness of their benefits.

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Global Propolis Market size was valued at USD 651.57 million in 2022 and is poised to grow from USD 666.69 million in 2023 to USD 800.96 million by 2031, growing at a CAGR of 2.32% during the forecast period (2024-2031).

The global propolis market is highly competitive, with a large number of small-scale producers and a few large companies operating in the market. To increase their market presence and customer base, these companies are concentrating on strategies like mergers and acquisitions, partnerships, and the launch of new products. To meet the growing demand for natural and organic products, businesses are also making significant investments in R&D initiatives to create fresh and inventive propolis-based products. Additionally, factors like cost, quality, and the availability of raw materials influence the market competition. 'Herb Pharm LLC ', 'Apis Flora ', 'Bee Health Limited ', 'YS Organic Bee Farms ', 'Comvita Ltd ', 'Wax Green ', 'Uniflora Health Food ', 'Sunyata Pon Lee ', 'NOW Foods ', 'API Health ', 'Comvita Limited ', 'Bee Health Limited ', 'Wax Green ', 'MN Propolis ', 'Ponlee ', 'Ponlee Bee ', 'Sunyata Pon Lee Bee ', 'Honey Pacifica ', 'Honey Gardens ', 'Beekeeper's Naturals ', 'Beehive Botanicals Inc. ', 'Durham's Bee Farm ', 'Y.S. Eco Bee Farms ', 'NaturaNectar LLC'

A key driver for the market is the rising awareness of the health benefits associated with propolis. The growing awareness of its antibacterial, antiviral, and anti-inflammatory properties increasingly compels consumers to adopt natural alternatives. Such trends are seen most often among those trying to use supplements as a nutritional intervention that can address health issues or augment the immune system, thus making propolis ideal for people who care about their well-being.

Increasing Demand for Sustainable Products: Rising consumer awareness and demand for a better life are the most significant trends in the propolis market: increased demand for natural products. Consumers are increasingly opting for items manufactured from the natural source, not medication and synthetic chemicals. This shift is due to fears over the potential side effects and long-term health consequences of artificial chemicals. Propolis is a good fit for the natural goods movement due to the high content of bioactive compounds and the low requirements of processing. Moreover, demand for Propolis products increases continuously due to clean labels. The clean label demand states that the customer must know the components of products. The consumer needs that propolis can provide convenient and diverse uses thus driving a highly notable trend in the propolis market.

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.

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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

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What is the key driver of Propolis Market?

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Which region accounted for the largest share in Propolis Market?

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