Propolis Market By Product Type (Capsules/Tablets, Liquid, Creams, Others) , By Category (Alcohol-based, Alcohol-free) By Distribution Channel (Offline, Online) : Global Opportunity Analysis and Industry Forecast, 2024-2034
The propolis market was valued at $670.3 million in 2023, and is projected to reach $955.0 million by 2034, growing at a CAGR of 3.4% from 2024 to 2034.
Propolis, also referred to as bee glue, is a resin-like mixture that honey bees produce by mixing saliva and beeswax with exudate gathered from tree buds, sap flows, or other botanical sources. Propolis contains a variety of bioactive compounds, including flavonoids, phenolic acids, and terpenes, which contribute to its antimicrobial, anti-inflammatory, antioxidant, and antifungal properties. These properties have increased the application of propolis in wound care, oral health, food & beverages, and confectioneries.
Increase in health consciousness among consumers and rise in demand for natural and organic products are the major factors propelling the demand for propolis, which is known for its natural origin and multiple health benefits. Increase in application of propolis in wound healing is expected to boost the growth of the market. For instance, researchers have identified more than 500 compounds in propolis, which are forms of polyphenols, which fight disease and damage in the body. An article published in Nutrients—an international, peer-reviewed, open access journal of human nutrition—states that propolis may help synthesize collagen in skin, which could further support wound healing. The market growth is further driven by the trend toward holistic wellness and natural remedies, which has increased the use of propolis in various health and wellness products. With increasing demand for clean label and preservative-free products, propolis's natural antimicrobial properties make it an attractive alternative to synthetic preservatives, thus fostering the market growth. However, side effects associated with propolis acts as a key deterrent factor of the market. For instance, propolis can cause contact dermatitis in sensitive individuals, leading to skin redness, itching, and swelling. In addition, lack of consumer awareness regarding the potential risks of propolis hampers the market growth. On the contrary, surge in demand for clean label products, which are perceived as healthier and more transparent about their ingredients, is expected to offer remunerative opportunities for the expansion of the global market during the forecast period. As a natural bee product, propolis can be included in organic certified products, which appeals to the growing market for organic foods and supplements. According to Statista, the sales of organic food amounted to about $134.76 billion in 2022 from nearly 18 billion dollars in 2000.
The propolis market is segmented into product type, category, distribution channel, and region. On the basis of product type, the market is divided into capsules/tablets, liquids, creams, and other. As per category, it is bifurcated into alcohol-based and alcohol-free. Depending on distribution channel, it is categorized into offline and online. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsDepending on product type, the capsules/tablets segment held the highest market share in 2023, and is expected to maintain its leadership status by 2034.
On the basis of category, the alcohol-based segment was the major shareholder in 2023.
By distribution channel, the offline segment acquired the highest market share in 2023, and is expected to lead throughout the forecast period.
Region wise, North America was the key revenue generator in 2023, and is anticipated to retain its dominance in the coming future.
Competition AnalysisCompetitive analysis and profiles of the major players in the global Propolis Market include API Health, Comvita Limited, B Natural, Bee Health Limited, Wax Green, Zhifengtang Pharmaceutical Co. Ltd., MN Propolis, Ponlee Bee, Sunyata Pon Lee Bee, and Zhonghong Biological Group Co., Ltd. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
Key Market SegmentsBy Product TypeCapsules/Tablets
Liquid
Creams
Others
By CategoryAlcohol-based
Alcohol-free
By Distribution ChannelOffline
Online
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Thailand
Malaysia
Indonesia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
UAE
Argentina
Rest of LAMEA
Key Market Players
API Health
Comvita Limited
B Natural
Bee Health Limited
Wax Green
Zhifengtang Pharmaceutical Co. Ltd.
MN Propolis
Ponlee Bee
Sunyata Pon Lee Bee
Zhonghong Biological Group Co., Ltd.