April 22, 2024
Propolis Market

The Global Propolis market Growth is Propelled by Increased Application in Supplements and Medicines

Propolis is a resinous material that honey bees produce by mixing saliva and beeswax with exudate gathered from tree buds, sap flows, or other botanical sources. It is used as a sealant for unwanted open spaces in the beehive and to smooth out internal walls. Propolis has antimicrobial, antioxidant, anti-inflammatory, and immune-boosting properties that are beneficial for skin, hair, and oral health. It can treat wounds, prevent infections, relieve pain, and reduce inflammation.

The Global Propolis Market Size is estimated to be valued at US$ 815.31 Mn in 2024 and is expected to exhibit a CAGR of 4.2% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increasing application of propolis in dietary supplements and herbal medicines has been a major factor driving the growth of the propolis market. Propolis is widely used in dietary supplements due to its immune-boosting properties. It supports overall well-being by promoting gastrointestinal health, bone health, heart health, and brain health. Propolis is also used in various herbal medicines to treat upper respiratory infections, reduce inflammation, and heal wounds. It is commonly formulated into syrups, powders, and lozenges for treating sore throats, colds, and flu. The rising popularity of herbal and alternative medicines is expected to boost the demand for propolis-based supplements and medicines over the forecast period.

SWOT Analysis

Strength: Propolis offers various health benefits such as antioxidant and antimicrobial properties. It helps boost the immune system and promotes overall wellness.
Weakness: Limited scientific evidence available for some of the health claims of propolis. Standardization and quality control of propolis extracts are also challenges.
Opportunity: Growing popularity of natural health products and rising consumer awareness about propolis benefits offer growth opportunities. Demand is increasing from food & beverage and pharmaceutical industries.
Threats: Stringent regulations regarding the use of propolis extracts in foods and medicines. Availability of alternative natural products may also pose threat.

Key Takeaways

The global propolis market is expected to witness high growth. Propolis extract and related products find widespread application in various industries including food & beverages, personal care & cosmetics and pharmaceuticals. The global Propolis Market is estimated to be valued at US$ 815.31 Mn in 2024 and is expected to exhibit a CAGR of 4.2% over the forecast period 2024-2031.

Europe currently dominates the propolis market owing to high awareness levels and traditional use of propolis in folk medicines. Key countries contributing to the European market are Germany, France, Italy and Spain. Asia Pacific is identified as the fastest growing regional market with China, Japan and India being major consumers.

Key players operating in the propolis market are Air Liquide, PlanET Biogas, Wartsila, EnviTech Biogas AG, Robert Bosch GmbH, Asia Biogas, and Schmack Biogas GmbH. The listed companies are focused on strengthening their distribution channels and exploring new applications of propolis to augment market share. Ongoing clinical research and standardization of extraction methods are also top priorities to enhance regulatory acceptance of propolis-based products.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it