Data Bridge Market Research analyses that the propolis market was valued at USD 829.23 million in 2021 and is expected to reach the value of USD 1352.91 million by 2029, at a CAGR of 6.31% during the forecast period of 2022 to 2029.
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Propolis Market Dynamics
Drivers
Growing expansion interest from the medical sector
The expansions of interest in propolis in the medical services and medicine sectors as well as the development of awareness about its therapeutic properties are regarded as the primary drivers of the propolis market. These factors are expected to play a significant role in the growth and development of the propolis Industry in the coming years.
Celebrity endorsements and improved packaging campaigns
The high fatality rate of coronavirus disease (COVID-19) and the lack of antiviral treatment are driving up sales of natural agents with immune-strengthening properties. Propolis is high in antioxidants and bioactive compounds and it has antimicrobial, bactericidal, antiviral, anti-inflammatory, and immunomodulatory properties, which are fuelling market growth.
Opportunity
New product launches and product assortments will also support various opportunities that will drive the growth of the propolis market in the forecast period. These exercises have paved the way for market participants to expand their business and client base. With the growing interest in propolis in the global market and its development, market players in the global market are expected to benefit from worthwhile development opportunities in the future.
Restraints
Propolis side effects are known to cause sensitivities in a small percentage of the population that is sensitive to honeybee products. Rising cases of hypersensitivity as a result of propolis use will impede the growth of the propolis Market in the previously estimated time frame. The lack of standardisation across various brands will become a significant challenge in the development of the Global Market.
Global Propolis Market Scope
The propolis market is segmented on the basis of product type, category, distribution channel, application and type.
Product type
Capsules & tablets
Spray
Extract
Others
Distribution channel
Store-based
Supermarkets & hypermarkets
Convenience stores
Others
Non-store-based
Category
Alcohol based
Alcohol free
Application
Food and beverages
Healthcare
Personal care
Cosmetics
Other
Type
Supercritical extraction co2 (sfe)
Ethanol extracted propolis (eep)
Glycol extracted propolis (gep)
Other
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Propolis Market Regional Analysis/Insights
The propolis market is analysed and market size insights and trends are provided by country, product type, category, distribution channel, application and type.as referenced above.
The countries covered in the propolis market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Competitive Landscape and Propolis Market Share Analysis
The propolis market competitive landscape provides details by competitor.
Some of the major players operating in the propolis market are:
Apiário Polenectar (Brazil)
Sunyata Pon Lee (Brazil)
Apis Flora (Brazil)
Sunyata Pon Lee (Brazil)
Bee Health Limited (UK)
Zhifengtang (China)
Laprell's Beehive Products, Inc. (Canada)
Comvita Limited and its subsidiaries (New Zealand)
Wax Green (Brazil)
Manuka Health New Zealand (New Zealand)
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MAJOR TOC OF THE REPORT: -
- Chapter One: Introduction
- Chapter Two: Market Analysis and Insights
- Chapter Three: Market Dynamics
- Chapter Four: Market Scope
- Chapter Five: Market Regional Insights
- Chapter Six: Competitive Landscape System Market
Get TOC Detail: - https://www.databridgemarketresearch.com/toc/?dbmr=global-propolis-market
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