Propolis Market Report by Product Type (Capsules and Tablets, Liquids, Creams, and Others), Category (Alcohol-based, Alcohol-free), Distribution Channel (Supermarkets and Hypermarkets, Pharmacies and Drugstores, Online Stores, and Others), Application (Fo

Propolis Market Report by Product Type (Capsules and Tablets, Liquids, Creams, and Others), Category (Alcohol-based, Alcohol-free), Distribution Channel (Supermarkets and Hypermarkets, Pharmacies and Drugstores, Online Stores, and Others), Application (Food and Beverages, Healthcare, Personal Care and Cosmetics, and Others), and Region 2024-2032

The global propolis market size reached US$ 699.5 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,063.9 Million by 2032, exhibiting a growth rate (CAGR) of 4.6% during 2024-2032. The market is driven by the supportive government regulations promoting natural products, growing interest in bee products and apitherapy, rapid expansion of the pharmaceutical industry, the rising demand for natural remedies and homeopathic products, extensive research and development (R&D) activities, and considerable growth in the e-commerce sector.

Propolis Market Analysis:

• Major Market Drivers: Some of the major market drivers are the growing demand for natural and organic products, which is resulting in increased consumer preference for propolis due to its perceived health benefits. Furthermore, the rising awareness regarding the therapeutic properties of propolis, such as its antimicrobial and anti-inflammatory effects, is providing a boost to its adoption. Besides this, rapid expansion of the cosmetic and personal care industry incorporating propolis into various products is impelling the market. In addition, the growing use of propolis in dietary supplements is further fueling the propolis market growth.
• Key Market Trends: Some of the key market trends include the rising popularity of natural remedies and homeopathic products, which aligns with the growing interest in propolis. Also, there is a rising trend toward sustainable and ethical sourcing of propolis. Consumers are becoming more aware of the environmental impact of their purchases, leading to a preference for propolis products that are sourced responsibly.
• Geographical Trends: Europe is leading the market, driven by a strong preference for natural and organic health products and increasing consumer awareness about the benefits of propolis. The region's established cosmetic and personal care industry is also supporting market growth and accelerating propolis demand.
• Competitive Landscape: Some of the key market players include Apiário Polenectar, Apis Flora, Bee Health Limited (INW), Comvita Limited, Herb Pharm, Manuka Health New Zealand, Natural Factors Nutritional Products Ltd., NaturaNectar, NOW Foods, Nutraceutical International Corporation, Sunyata Alternative Products Ltd, Uniflora Nutraceutica Ltda, and Wax Green, among others. These companies are actively engaged in product innovations and market expansion.
• Challenges and Opportunities: Some of the challenges in the market include limited awareness in emerging markets and variations in product quality, which may impact consumer trust. Additionally, regulatory hurdles and potential issues with standardization can affect market growth negatively. However, opportunities lie in expanding market presence through e-commerce, developing new formulations, and tapping into emerging markets where consumer awareness regarding natural products is increasing.

Propolis Market Trends:

Rising demand for supplements including antioxidants

The multifunctional benefits of antioxidants, particularly those that promote youthful skin and facial aesthetics, are accelerating consumer interest in foods and cosmetic items containing all sources of antioxidants, including propolis. Antioxidants like polyphenols help the body fight against sickness and damage. In recent years, there has been a notable increase in the demand for supplements as individuals become more aware of the health advantages they offer. Propolis also contains flavonoids, a type of polyphenol that is an excellent source of antioxidants. Since more consumers are eager to include antioxidants in their daily diets, it is expected that the ingredient's rising popularity in beauty and health supplements, capsules, and extracts will gain momentum and lead to an increase in sales throughout the propolis market forecast period.

Increasing demand for natural and organic products

One of the major factors contributing to the growth of the global market is the rising demand for natural and organic products in many industries such as food and beverages, cosmetics, and pharmaceuticals. As a natural and organic ingredient, propolis has gained popularity among consumers due to the perceived health benefits associated with products containing it. Moreover, the product is also witnessing a high demand as a natural preservative of food and flavor enhancer within the food and beverage industry, which bolsters the growth of the market and accelerates propolis market revenue.

Growing product demand in the pharmaceutical and healthcare industry

The increasing demand for the product in the pharmaceutical and healthcare industry is a major factor driving the market growth. Propolis is widely used in various dermatology products which are used to treat burns, acne, fungal infection, and neurodermatitis. Furthermore, the product is also witnessing widespread application in ointments and cancer treatment as it helps in restricting the growth of cancerous cells and also in its multiplication. Moreover, it is also widely used in the treatment of cold sores, diabetes, and oral mucositis. This demand is anticipated to further accelerate in the coming years, thereby contributing to a positive propolis market outlook.

Propolis Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on product type, category, distribution channel, and application.

Breakup by Product Type:

• Capsules and Tablets
• Liquids
• Creams
• Others

Capsules and tablets dominate the market

The report has provided a detailed breakup and analysis of the market based on the product type. This includes capsules and tablets, liquids, creams, and others. According to the report, capsules and tablets represented the largest segment.

Capsules and tablets dominate the market, capturing a significant revenue share. Their popularity can be attributed to their ease of use and proven effectiveness, making them the preferred choice among consumers. Capsules and tablets work to treat a wide range of diseases and strengthen the immune system. Propolis capsules and tablets are also being used as dietary food supplements, which is in turn supporting product sales. As consumers shift towards natural health solutions and holistic approaches to health, these capsules and tablets will witness high demand. In this regard, the trend is likely to further fuel growth and drive sales within the sector during the coming years.

Breakup by Category:

• Alcohol-based
• Alcohol-free

Alcohol-based hold the largest share in the market

A detailed breakup and analysis of the market based on the category have also been provided in the report. This includes alcohol-based and alcohol-free. According to the report, alcohol-based accounted for the largest market share.

The alcohol-based segment is gaining remarkable traction due to its high efficiency and versatility. Alcohol-based extracts contain a higher quantity of active compounds, thus finding use in every therapeutic application. They form the most common ingredients in tinctures and topical formulations and witness high demand among consumers who are seeking potent and fast remedies. Besides, the alcohol-based extracts have the additional benefit of being more stable with a longer shelf life, and hence are high in demand. The growth of this segment is driven by an increasing number of consumers gravitating towards healthier and more effective product applications, fueled by a heightened awareness of the product's diverse benefits.

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets
• Pharmacies and Drugstores
• Online Stores
• Others

Pharmacies and drugstores hold the maximum share in the market

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes supermarkets and hypermarkets, pharmacies and drugstores, online stores, and others. According to the report, pharmacies and drugstores accounted for the largest market share.

Pharmacies and drugstores are significantly driving the market by expanding consumer access to these products. These retail outlets frequently stock a range of propolis-based health supplements, including capsules, tablets, and topical treatments, making them readily available to a broader audience. The presence of knowledgeable staff in pharmacies and drugstores helps educate consumers about the benefits of the product, bolstering its adoption. Additionally, pharmacies often feature the product in promotional campaigns and offer it as part of health and wellness programs, increasing its visibility. This extensive distribution network, coupled with educational support from knowledgeable staff, plays a crucial role in contributing to the growth of the segment.

Breakup by Application:

• Food and Beverages
• Healthcare
• Personal Care and Cosmetics
• Others

Healthcare holds the maximum share in the market

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes food and beverages, healthcare, personal care and cosmetics, and others. According to the report, healthcare accounted for the largest market share.

The healthcare sector is a major driver of the market due to its growing endorsement of natural and complementary treatments. Medical professionals increasingly recommend the product for its anti-inflammatory, antimicrobial, and immunity-enhancing attributes, integrating it into holistic treatment plans. Hospitals and clinics use the product in various formulations for wound care, oral health, and immune support. Additionally, research and clinical studies highlighting the product's therapeutic benefits enhance its credibility and appeal. As healthcare providers continue to explore and validate natural remedies, the demand for the product is expected to rise, expanding the use of propolis in medical settings and further fueling the segment growth.

Breakup by Region:

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa

Europe leads the market, accounting for the largest propolis market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Europe represents the largest regional market for propolis.

Europe is leading the market due to its strong inclination towards natural and organic products. Propolis market recent developments, such as advanced extraction techniques and innovative product formulations, are enhancing product quality and availability in Europe. This innovation supports the region's leadership by offering more effective and diverse propolis-based products to consumers. The region's well-established cosmetic and personal care industries significantly contribute to the high demand for the product. European consumers are increasingly aware of the product's health benefits, such as its antimicrobial and anti-inflammatory properties, which drive its incorporation into various health and wellness products. Additionally, Europe benefits from a robust regulatory framework that ensures high-quality standards for products, further bolstering consumer confidence. Some of propolis market recent opportunities in this region include the growing trend of natural remedies and increased consumer focus on holistic health solutions. This presents substantial growth prospects for the companies in Europe as they explore new market segments and expand their product offerings to meet rising demand.

Competitive Landscape:

• The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include Apiário Polenectar, Apis Flora, Bee Health Limited (INW), Comvita Limited, Herb Pharm, Manuka Health New Zealand, Natural Factors Nutritional Products Ltd., NaturaNectar, NOW Foods, Nutraceutical International Corporation, Sunyata Alternative Products Ltd, Uniflora Nutraceutica Ltda, and Wax Green.

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Key propolis companies are driving the market through strategic innovations and competitive practices. Major companies are investing significantly in research and development to enhance extraction techniques and product formulations to ensure high-quality and effective end-products. The market players are also expanding their market reach by leveraging global distribution networks and e-commerce platforms. This approach helps them tap into emerging markets and cater to the increasing demand for natural health products. By focusing on quality and innovation, these companies build strong brand reputations and consumer trust. The propolis market overview reveals that key players are actively engaging in mergers, acquisitions, and partnerships to strengthen their market positions. These strategic moves enable companies to access new technologies, enter new markets, and enhance their product portfolios. Additionally, effective marketing strategies and consumer education initiatives by the key players are further solidifying the presence of these companies in the market.

Propolis Market News:

• May 02, 2023: Fytexia, an ABF Ingredients company and the French supplier of brown propolis extracts, has acquired Vital Solutions, a German company specializing in natural science-based ingredients for dietary supplements and functional foods, reinforcing its leadership in science-based polyphenols for gut health and cognitive functions. The acquisition reflects ABFI's ambition to accelerate the development of Fytexia and its presence in the nutritional ingredient market while leveraging Vital Solutions' portfolio of ingredients for the dietary supplements industry.
• Jan 02, 2023: BEE'O Propolis announced that it plans to expand its exports to over 100 countries in the next five years, showcasing impressive growth and a strong focus on international markets. The company's innovative products, including natural propolis extracts and unique apicultural formulas, have led to significant growth and recognition of the company in the global market.

Key Questions Answered in This Report:

• How has the global propolis market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global propolis market?
• What is the impact of each driver, restraint, and opportunity on the global propolis market?
• What are the key regional markets?
• Which countries represent the most attractive propolis market?
• What is the breakup of the market based on the product type?
• Which is the most attractive product type in the propolis market?
• What is the breakup of the market based on the category?
• Which is the most attractive category in the propolis market?
• What is the breakup of the market based on the distribution channel?
• Which is the most attractive distribution channel in the propolis market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the propolis market?
• What is the competitive structure of the market?
• Who are the key players/companies in the global propolis market?