Propolis Market Share, Size, Trends, Industry Analysis Report, Product Type (Capsules and Tablets, Liquids, Others), By Distribution Channel (Retail Store, Online, Others), By Region, And Segment Forecasts, 2023 - 2032

Propolis Market Share, Size, Trends, Industry Analysis Report, Product Type (Capsules and Tablets, Liquids, Others), By Distribution Channel (Retail Store, Online, Others), By Region, And Segment Forecasts, 2023 - 2032

The global propolis market size is expected to reach USD 954.37 million by 2032, according to a new study by Polaris Market Research. The report “Propolis Market Share, Size, Trends, Industry Analysis Report, Product Type (Capsules and Tablets, Liquids, Others), By Distribution Channel (Retail Store, Online, Others), By Region, And Segment Forecasts, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Market is experiencing significant growth due to the increasing prevalence of herpes simplex virus type 1 & type 2 infections. These infections are responsible for causing cold sores and painful blisters, which are driving the demand for related products in the market. Notably, genital herpes infection has been recognized as playing a significant role in the transmission of HIV infection, as reported by the WHO, in 2020.

The U.S. stands out as one of the leading countries with a substantial population affected by genital herpes. In a survey conducted by the Centers for Disease Control and Prevention (CDC) in 2019, approximately 572,000 people were recorded to have genital herpes infections in the country. This high prevalence further emphasizes the importance of addressing the demand for products that can help manage and alleviate symptoms associated with herpes infections.

Increasing consumer preference for certified organic products has prompted manufacturers to address concerns regarding the presence of metals, impurities, & microbial contamination in their offerings. As a result, many manufacturers are now labeling their propolis products as organic. For instance, Herbiolys Laboratoire, a domestic producer and marketer of propolis in France, has labeled its product as both vegan & organic. These initiatives by industry players have gained the trust of consumers and contributed to the flourishing growth of the market.

Market growth is being fueled by the rising demand for propolis in the pharmaceutical and healthcare industry. Additionally, propolis finds applications in various dermatology products, effectively treating burns, acne, fungal infections, and neurodermatitis. Moreover, propolis is employed in the preparation of ointments and is being studied for its potential in cancer treatment, as it exhibits properties that can restrict the growth and multiplication of cancerous cells.

Various forms of propolis, such as capsules and tablets, are readily available in the market. These products are widely used to treat various diseases and are recognized for their ability to boost the immune system. Additionally, propolis capsules and tablets are popularly consumed as dietary food supplements. The accessibility and convenience of retail stores further enhance the demand for propolis among consumers. Customers can easily find propolis products in supermarkets, pharmacies, health stores, and other retail outlets, which leads to higher sales in this distribution channel.

Propolis Market Report Highlights

Capsules & tablets segment held the largest share, as they are the preferred choice among consumers and health practitioners

Retail stores dominated the market, owing to the discount being offered by the consumers

APAC region will grow at the rapid pace, owing to huge population seeking better treatment options

The global key market players include Apiary Polenecter, Apis Flora, Herb Pharm, Uniflora Health Foods, Bee Health, Wax Green, Sunyata Pon Lee, an NOW Foods

Polaris Market Research has segmented the propolis market report based on product type, distribution channel, and region:

Propolis, Source Outlook (Revenue - USD Million, 2023 - 2032)

Capsules And Tablets

Liquids

Others

Propolis, Distribution Channel Outlook (Revenue - USD Million, 2023 - 2032)

Retail Store

Online

Others

Propolis, Regional Outlook (Revenue - USD Million, 2023 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa