Propolis Market Analysis

Global Propolis Market Overview

Propolis Market Size was valued at USD 0.6 Billion in 2023. The propolis industry is projected to grow from USD 0.637 Billion in 2024 to USD 1.0336 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.23% during the forecast period (2024 - 2032). One of the key market drivers fueling market expansion is the rising demand for propolis in the pharmaceutical and healthcare sectors. Additionally, it is used in several dermatology medications to treat neurodermatitis, fungal infections, burns, and acne.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Propolis Market Trends

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  Rising Antioxidant Supplement Demand Would Drive Market Growth

  
  

The multifunctional benefits of antioxidants, notably the one that promotes youthful skin and facial aesthetics, have largely spurred consumer interest in foods and cosmetic items containing all sources of antioxidants, including the potentially increasing propolis. According to studies, propolis contains more than 300 distinct chemicals, the majority of which are polyphenols in various forms. Antioxidants like polyphenols aid the body's defence against illness and injury. Over the past few years, demand for supplements has increased significantly due to growing awareness of the health benefits provided by various supplements. For instance, sales of vitamins, minerals, and other nutritional supplements reached over CAD 1.17 billion in the fourth quarter of 2021, according to data released by Statistics Canada. 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 projected that the ingredient's rising popularity in beauty and health supplements, propolis capsules, and extracts will gain momentum and experience a booming increase in sales throughout the forecast period.

Furthermore, the key drivers of the propolis market CAGR are the increase in interest in propolis in the medical services and medicine sectors, as well as the growth of awareness about its therapeutic characteristics. These elements are predicted to impact the propolis industry's growth and development in the next years. Major firms are offering propolis-based products to satisfy certain health demands. As a result, one of the primary elements driving propolis interest in the market is the many medical benefits and the ease of access to items containing propolis extracts.

Additionally, sales of natural products with immune-strengthening qualities are increasing due to the high mortality rate of coronavirus illness (COVID-19) and the lack of an antiviral cure. The market is expanding because propolis has powerful antibacterial, bactericidal, antiviral, anti-inflammatory, and immunomodulatory activities. It is also abundant in antioxidants and bioactive chemicals. In addition, top producers provide a wide range of propolis-based product options to address various medicinal demands. They also spend money on packaging upgrades and marketing initiatives like celebrity sponsorships to keep their competitive edge and broaden their market reach. Thus, driving the propolis industry revenue.

Segment Insights

Propolis Product Type Insights

The propolis market segmentation, based on product type includes capsules and tablets, spray, extract, and others. The capsules and tablets segment dominated the market. These are the most basic propolis product type, thus, buyers tend to favor them. These aid in boosting the immune system and are used to treat several disorders. Propolis capsules and tablets are also employed as a dietary food supplement, which will help the industry's sales even more.

Propolis Category Insights

The propolis market segmentation, based on category includes alcohol-based and alcohol-free. The alcohol-free segment dominated the market. There are numerous suppliers of propolis extracts today that are made without the use of alcohol. Usually, other solvents like water or glycerin are used to manufacture these items. Those who prefer alcohol-free formulations, including those who abstain from alcohol for religious or non-religious reasons, can find various alcohol-free propolis products to suit their needs. Furthermore, as alcohol can occasionally result in skin dryness or irritation, propolis products without alcohol may be better suited for topical treatments.

Propolis Distribution Channel Insights

The propolis market segmentation, based on distribution channel, includes store based and non-store based. The store-based category generated the most income. Customer demand for the product is increasing as a result of the fact that stores offer a greater variety of propolis than any other type of distribution channel. The sector will increase over the evaluation period as a result.

Figure 1: Propolis Market, by Distribution Channel, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Propolis Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American propolis market area will dominate this market because propolis is highly sought-after in the United States and Canada. The prevalence of genital herpes in the United States has increased its demand in this area. One of the top nations with the greatest rates of genital herpes and other herpes viruses is the United States. The industry is anticipated to have tremendous expansion throughout the forecast period due to rising import demand.

Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: PROPOLIS MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe propolis market accounts for the second-largest market share. The capacity of propolis to strengthen the immune system, promote digestive health, and lessen wrinkles in adults are factors contributing to the growing demand for propolis in Europe. Additionally, propolis is a gluten-free substance that celiac disease patients can use. There were roughly 242 thousand instances of celiac disease in Italy in 2021, according to the Ministry of Health. These elements are essential in propelling the industry under study. Further, the German propolis industry held the largest market share, and the UK market for propolis was the fastest growing market in the European region

The Asia-Pacific Propolis Market is expected to grow at the fastest CAGR from 2023 to 2032. This is attributable to the increasing demand for propolis in this area. An increase in disposable income is also fueling market expansion. Additionally, rising cancer incidence rates are anticipated to hasten regional market expansion. The propolis is therefore anticipated to expand in this area over the course of the forecast period. Moreover, China’s propolis industry held the largest market share, and the Indian market for propolis was the fastest growing market in the Asia-Pacific region.

Propolis Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the propolis market grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, propolis industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the propolis industry to benefit clients and increase the market sector. In recent years, the propolis industry has offered some of the most significant advantages to market. Major players in the propolis market attempting to increase market demand by investing in research and development operations include Apis Flora (Brazil), Sunyata Pon Lee (Brazil), Bee Health Limited (UK), Zhifengtang (China), Laprell's Beehive Products, Inc. (Canada), Apiário Polenectar (Brazil), Comvita (New Zealand), Wax Green (Brazil), Manuka Health New Zealand (New Zealand), and Hi-Tech Natural Product India Ltd. (India).

Comvita New Zealand Limited sells food and medical supplies. The business sells honey, creams, lotions, jelly, vinegar, fish oil capsules, and oral care items. Comvita provides customer service. Comvita is a significant manufacturer of premium Honey and honey products in New Zealand. With independent beekeepers operating in outlying regions of the central North Island and Northland, Comvita develops close partnerships. With the aid of contemporary technology, the origin of every Comvita honey product can be verified, guaranteeing its transparency and purity. In March 2021, comvita's cutting-edge Wellness Lab immersive area in Auckland's Viaduct has officially launched.

Since its founding in 2006, Manuka Health has developed into a well-known New Zealand firm specializing in Manuka and Gourmet Honey, Royal Jelly, and Propolis. Manuka Health controls every step of the creation of their honey. Their 20,000 beehives are situated in secluded, pristine regions of New Zealand, and the gathering procedures make use of sustainable methods. Health and natural product manufacturers and retailers Manuka Health New Zealand Limited. The business sells natural honey-based toothpaste, skin care, immune protection, and other goods. Manuka Health provides services to clients around.

Key Companies in the propolis market include

• Apis Flora (Brazil)


• Sunyata Pon Lee (Brazil)


• Bee Health Limited (UK)


• Zhifengtang (China)


• Laprell's Beehive Products, Inc. (Canada)


• Apiário Polenectar (Brazil)


• Comvita (New Zealand)


• Wax Green (Brazil)


• Manuka Health New Zealand (New Zealand)


• Hi-Tech Natural Product India Ltd. (India)

Propolis Industry Developments

September 2021: A joint venture between Comvita Ltd. and Creative Artists Agency (CAA), an entertainment and sports agency, has established a strategic relationship with Caravan. The new partnership with Caravan will assist increase consumer awareness of the benefits of Mnuka Honey and Propolis by developing a lifestyle brand with celebrity endorsement that makes use of the topical use of these natural remedies.

March 2021: Bee Health, the top inventor and manufacturer of dietary supplements in the UK, was bought by Innovations in Nutrition + Wellness (INW), according to a press release. The services provided to brand partners will be further enhanced by INW and Bee Health's highly complementary product capabilities and geographic reach.

Propolis Market Segmentation

Propolis Product Type Outlook (USD Billion, 2018-2032)

• Capsules and Tablets


• Spray


• Extract


• Others

Propolis Category Outlook (USD Billion, 2018-2032)

• Alcohol-Based


• Alcohol-free

Propolis Distribution Channel Outlook (USD Billion, 2018-2032)

• Store-based

• Non-store-based

Propolis  Regional Outlook (USD Billion, 2018-2032)

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  

• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  

• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  

• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America