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).

Propolis Market Size, Share, Growth Analysis, By Type(Capsules And Tablets, Liquids, Others), By Category(Alcohol-based, Alcohol-free), By Application(Food and Beverages, Healthcare, Personal Care and Cosmetics, Others), By Distribution Channel(Online, Offline (Supermarkets and Hypermarkets, Pharmacies and Drugstores, Others)), By Region - Industry Forecast 2024-2031

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

Propolis Market Regional Insights

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.

The Asia Pacific region is expected to grow at the significant CAGR. The growing demand for natural personal care and healthcare products, rising disposable income, and increasing awareness about the health benefits of propolis are driving the market growth in the region. Countries such as China, Japan, and India are expected to contribute significantly to the growth of the market in the APAC region.

Propolis Market Report Snapshots

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Propolis Market size was valued at USD 0.7 billion in 2022 and is poised to grow from USD 0.75 billion in 2023 to USD 1.25 billion by 2031, growing at a CAGR of 6.67% in 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. 'API Health', 'Comvita Limited', 'B Natural', 'Bee Health Limited', 'Wax Green', 'Zhifengtang Pharmaceutical Co. Ltd.', 'MN Propolis', 'Ponlee', 'Ponlee Bee', 'Sunyata Pon Lee Bee', 'Zhonghong Biological Group Co., Ltd.', 'Bee & Health Co. Ltd.', 'Honey Pacifica', 'Honey Gardens', 'Beekeeper's Naturals', 'Beehive Botanicals Inc.', 'Durham's Bee Farm', 'Y.S. Eco Bee Farms', 'Royal Jelly Australia', 'NaturaNectar LLC.'

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.

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.

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Propolis Market Regional Insights

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