by The global bee propolis extract market is estimated to be valued at US$ 766.43 Bn in 2024 and is expected to exhibit a CAGR of 12.% over the forecast period 2024 to 2031,
as highlighted in a new report published by Coherent Market Insights. Bee propolis extract is a resinous substance produced by honey bees and used as part of their nest-building activities. It provides antibacterial, antiviral, anti-inflammatory, antioxidant, preservative and immune-modulating properties. It finds extensive application in food and beverages, personal care and cosmetics, healthcare and botanical supplements industry. The wide variety of uses in supplement formulations targeting conditions like arthritis, cardiovascular health, sports injuries and liver health is driving increased demand for bee propolis extract globally.
Market Dynamics:
The key driver expected to boost the global bee propolis extract market growth over the forecast period is its rising applications in dietary supplements owing to its wide range of health benefits. Bee propolis extract displays robust antioxidant properties which help neutralize harmful free radicals in the body and protect cells from damage. Besides, bee propolis extract also exhibits anti-inflammatory properties that help relieve inflammation and associated pain in conditions such as arthritis. Furthermore, propolis extract supports immune function and exhibits antimicrobial activity against various viruses and bacteria. Growing consumer awareness about these benefits is fueling increased adoption of bee propolis extract in various supplement formulations around the world. Another driver for the market is expanding application scope in personal care and cosmetics industry. Propolis extract provides antioxidant protection to the skin from environmental stressors and cellular damage. Additionally, it possesses antimicrobial abilities to protect against acne-causing bacteria. These traits are raising demand for bee propolis extract in different cosmetic products like creams, lotions and serums.
Segment Analysis
The Global Bee Propolis Extract Market Size is segmented into form, application, and end-use industry. On the basis of form, the market is divided into powder, liquid, and capsules & tablets. The liquid segment dominates the market as liquid bee propolis extract is more convenient to use in applications like food & beverages, pharmaceuticals, personal care, etc.
PEST Analysis
Political: The bee propolis extract market growth is positively influenced by various government initiatives promoting apiculture or beekeeping. Several European nations provide subsidies for sustainable beekeeping practices.
Economic: The rising disposable incomes in developing nations have accelerated the demand for premium health products containing bee propolis extract. The growing pharmaceutical industry also contributes to market growth.
Social: Increasing health consciousness among consumers is driving the demand for bee propolis extract known for its immunity-boosting and antioxidant properties. The rising preference for natural ingredients also favors market expansion.
Technological: State-of-the-art extraction techniques help obtain a more purified and standardized bee propolis extract product. Advanced quality control methods ensure product consistency and safety.
Key Takeaways
The global bee propolis extract market is expected to witness high growth over the forecast period of 2024 to 2031. The market size for 2024 is estimated to be US$ 766.43 Bn.
Regional analysis
– Europe dominates the global market owing to the large apiary industry and consumer preference for natural products in the region. Countries like Germany, France, Poland are major markets.
Key players operating in the bee propolis extract market are BASF SE (Germany), Dow (U.S.), CLARIANT (Switzerland), Nippon Paint Holdings Co., Ltd.(Japan), PPG Industries, Inc. (U.S.), The Sherwin-Williams Company (U.S.), Huntsman International LLC. (U.S.), MarvelVinyls (India), The VersaFlex Companies (U.S.), Axalta Coating Systems, LLC (U.S.), Pidilite Industries Ltd. (India), Valspar (U.S.), Rhino Linings Corporation. (U.S.), Nukote Coating Systems, Intl. (U.S.), Jotun (Norway), RODDA PAINT, CO. (U.S.), Constro Chem India Pvt. Ltd. (India), ELMET (U.S.), Aalberts Surface Technologies GmbH.(Netherlands)
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Alice Mutum
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. LinkedIn
