July 12, 2024
Propolis Market

Probiotics Supplements Market Contributing Large Share

The global propolis market is estimated to be valued at US$ 636.1 million in 2022 and is expected to exhibit a CAGR of 5.48% over the forecast period from 2023 to 2030.

Market Overview:

Propolis is a resinous hive product collected by honey bees from living plant sources. It is composed of various compounds including flavonoids, phenolic acids, and esters. Propolis exhibits anti-inflammatory, antibacterial, antifungal, and antiviral properties. It is widely used as a dietary supplement to improve immunity and support overall health and well-being.

Market key trends:

One of the key trends in the propolis market is the growing popularity of propolis as an immunity booster. Propolis is rich in compounds like caffeic acid, astragalin, and caffeic acid phenethyl ester that help strengthen the immune system. Its antioxidant properties help reduce oxidative damage to cells and tissues. With rising health consciousness, many consumers are opting for propolis supplements to stay protected from infections. This is anticipated to fuel the demand for propolis over the forecast period.

Segment Analysis:

The global propolis market is segmented into nature, form, end use, and region. Based on nature, the market is categorized into organic and conventional. The organic segment dominates the market with over 60% share as consumers prefer organic products to avoid chemicals.

Key Takeaways:

The Global Propolis Market Size is expected to reach USD 636.1 million by 2030, expanding at a CAGR of 5.48% from 2023 to 2030 due to growing adoption of propolis in food and beverage, pharmaceutical, and cosmetic industries owing to its antibacterial, antiviral, and anti-inflammatory properties.

Regional Analysis

Asia Pacific dominated the global market with around 35% share in 2021. China is the leading producer and consumer of propolis. Europe is the second largest market, driven by high demand in Germany, France, and Italy. The markets in North America and Latin America are expected to grow at a high pace during the forecast period.

Key Players

Key players operating in the propolis market are Herb Pharm LLC, Apis Flora, Bee Health Limited, Y.S. Organic Bee Farms, Comvita Ltd, Wax Green, Apiary Polenecter, Uniflora Health Foods, Sunyata Pon Lee, NOW Foods, and Bio Botanica Inc. (Nature’s Answer). Herb Pharm LLC and Apis Flora together account for over 35% share of the global market owing to their diversified product portfolio and strong distribution network across various regions.

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