Global Propolis Market By Product Type (Capsules & Tablets, Spray, Extract, Others), Category (Alcohol-Based, Alcohol-Free), Distribution Channel (Store-Based, Non-Store-Based), Application (Food and Beverages, Healthcare, Personal Care and Cosmetics, Other), Type (Supercritical Extraction CO2 (SFE), Ethanol Extracted Propolis (EEP), Glycol Extracted Propolis (GEP), Other)– Industry Trends and Forecast to 2029
Market Analysis and Size
Propolis is a natural safeguard framework created by bumble bees to protect their hive from contamination. It functions as a repairman and, as a result, keeps the microbial development inside the hive under control. Because of propolis's broad antibacterial, antifungal, antiviral, cytotoxic, calming, and cancer prevention agent properties, it is widely used in the personal care, pharmaceutical, and food and beverage industries.
Data Bridge Market Research analyses that the propolis market was valued at USD 829.23 million in 2021 and is expected to reach the value of USD 1352.91 million by 2029, at a CAGR of 6.31% during the forecast period of 2022 to 2029.
Market Definition
Propolis is a resinous mixture produced by honey bees from various portions of plants, buds, and exudates. Pollen, waxes, essential oils, flavonoids and phenolic acids, and different chemical substances such as sugars, steroids, vitamins, ketones, lactones, benzoic acid, and fatty acid esters are commonly found in it. It is hard, brittle, and lipophilic, but when heated, it softens, becomes flexible, gummy, and sticky. It has a nice and distinctive aromatic fragrance and ranges in color from yellow-green to dark brown according on age and origin. Propolis is extensively used to improve the immune system since it contains antioxidants, anesthetics, and wound healing capabilities.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Capsules & Tablets, Spray, Extract, Others), Category (Alcohol-Based, Alcohol-Free), Distribution Channel (Store-Based, Non-Store-Based), Application (Food and Beverages, Healthcare, Personal Care and Cosmetics, Other), Type (Supercritical Extraction CO2 (SFE), Ethanol Extracted Propolis (EEP), Glycol Extracted Propolis (GEP), Other)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Apiário Polenectar (Brazil), Sunyata Pon Lee (Brazil), Apis Flora (Brazil), Sunyata Pon Lee (Brazil), Bee Health Limited (UK), Zhifengtang (China), Laprell's Beehive Products, Inc. (Canada), Comvita Limited and its subsidiaries (New Zealand), Wax Green (Brazil), Manuka Health New Zealand (New Zealand)
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Opportunities
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Propolis Market Dynamics
Drivers
- Growing expansion interest from the medical sector
The expansions of interest in propolis in the medical services and medicine sectors as well as the development of awareness about its therapeutic properties are regarded as the primary drivers of the propolis market. These factors are expected to play a significant role in the growth and development of the propolis Industry in the coming years. Propolis-based products are being offered by major manufacturers to meet specific health needs. As a result, the various medical benefits, in addition to the ease of access to items containing propolis extracts, are one of the major factors driving propolis interest in the global market.
- Celebrity endorsements and improved packaging campaigns
The high fatality rate of coronavirus disease (COVID-19) and the lack of antiviral treatment are driving up sales of natural agents with immune-strengthening properties. Propolis is high in antioxidants and bioactive compounds and it has antimicrobial, bactericidal, antiviral, anti-inflammatory, and immunomodulatory properties, which are fuelling market growth. Aside from that, leading manufacturers offer a plethora of propolis-based product variants to meet a variety of medical needs. To maintain a competitive edge and expand their market reach, they are also investing in packaging improvements and promotional campaigns such as celebrity endorsements.
Opportunity
New product launches and product assortments will also support various opportunities that will drive the growth of the propolis market in the forecast period. These exercises have paved the way for market participants to expand their business and client base. With the growing interest in propolis in the global market and its development, market players in the global market are expected to benefit from worthwhile development opportunities in the future.
Restraints
Propolis side effects are known to cause sensitivities in a small percentage of the population that is sensitive to honeybee products. Rising cases of hypersensitivity as a result of propolis use will impede the growth of the propolis Market in the previously estimated time frame. The lack of standardisation across various brands will become a significant challenge in the development of the Global Market.
This propolis market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the propolis market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Propolis Market
The worldwide Covid-19 pandemic has had a variety of effects on the propolis market segment. Because of the total lockdown, major assembling organisations and crude material suppliers have suffered massive losses, affecting the raw material of the items directly. Counting the honeybee ranchers all over the world, dealing with the issues of moving honeybee boxes from one location to the next broadly and globally, which hampered the stockpile to the customers around. Overall, the general inventory of propolis has been influenced by the Coronavirus lockdown, which has hampered market development. However, as the situation improves, it is expected that the Propolis Market will expand at a rapid pace in the near future.
Recent Development
- Comvita Ltd announced a strategic partnership with Caravan in 2021, as well as a joint venture with the entertainment and sports agency Creative Artists Agency (CAA). The new collaboration with Caravan will help to raise consumer awareness about the benefits of Mnuka Honey and Propolis by forming a celebrity-backed lifestyle brand that will use the natural healing properties of Mnuka Honey and Propolis for topical use.
- In 2021, Innovations in Nutrition + Wellness (INW) announced the acquisition of Bee Health, the UK's leading nutritional supplement developer and manufacturer.
- The highly complementary product capabilities and geographic scope of INW and Bee Health will further enhance the services provided to brand partners.
Global Propolis Market Scope
The propolis market is segmented on the basis of product type, category, distribution channel, application and type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product type
- Capsules & tablets
- Spray
- Extract
- Others
Distribution channel
- Store-based
- Supermarkets & hypermarkets
- Convenience stores
- Others
- Non-store-based
Category
- Alcohol based
- Alcohol free
Application
- Food and beverages
- Healthcare
- Personal care
- Cosmetics
- Other
Type
- Supercritical extraction co2 (sfe)
- Ethanol extracted propolis (eep)
- Glycol extracted propolis (gep)
- Other
Propolis Market Regional Analysis/Insights
The propolis market is analysed and market size insights and trends are provided by country, product type, category, distribution channel, application and type.as referenced above.
The countries covered in the propolis market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
According to the regional analysis, North America dominated the propolis market and is expected to maintain its dominance throughout the forecast period due to high deals of regular drug and individual consideration items in the region. However, the market in Asia-Pacific is expected to have the highest CAGR over the estimated time frame due to the transition of the bumblebee items market from chaotic to coordinate. Furthermore, the easy availability of bumblebee results from various flower sources is attracting various market players to the territorial market, which is relying on to fuel the development of the propolis business in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Propolis Market Share Analysis
The propolis market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to propolis market.
Some of the major players operating in the propolis market are:
- Apiário Polenectar (Brazil)
- Sunyata Pon Lee (Brazil)
- Apis Flora (Brazil)
- Sunyata Pon Lee (Brazil)
- Bee Health Limited (UK)
- Zhifengtang (China)
- Laprell's Beehive Products, Inc. (Canada)
- Comvita Limited and its subsidiaries (New Zealand)
- Wax Green (Brazil)
- Manuka Health New Zealand (New Zealand)
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