Propolis market - Global Industry Analysis by Size, Share and Forecast 2021 – 2027
Market Research Future (MRFR)
asserts that the global propolis market is anticipated to demonstrate a healthy
CAGR during the forecast period (2018-2023) owing to its augmenting demand in
the healthcare sector. Also termed as bee glue, propolis is referred to as a
resinous substance which is generally obtained from honeybees and contains
active organic chemical compounds like essential oils, flavonoids, amino acids,
and aromatic acids. Being antiviral, antibacterial, anti-inflammatory, and
antifungal, propolis is extremely used to treat abscesses and heal wounds.
Market Potential and Pitfalls
With the augmenting demand for propolis in the healthcare sector, the
market is likely to foster throughout the assessment period. Propolis is
extensively used in treating cancer of the throat and nose owing to its
anticancer and anti-tumoral properties. The product is highly used to treat
chronic diseases like tuberculosis and cancer including other diseases such as
cold sores, canker sores, upper respiratory tract infections, oral mucositis,
and ulcers. Such factors are likely to offer an impetus to the market growth in
the coming years. Propolis extract is also used in several cosmetic products
like lotions, anti-acne soaps, shampoos, and anti-dandruff conditioners. It is
also used as an anti-acne, anti-aging, moisturizing, and conditioning agent.
Consumers are inclined towards personal care and well-being products which fuel
the market growth globally. Moreover, with the increasing use of propolis in
the food and beverage sector as food preservation and as an antioxidant, the
market is anticipated to boom. The market is also driven by the development and
advancements made in the harvesting technology which results in improved
production. Increasing focus on R&D results to innovation in propolis
harvesting those further leads to increased quality and quantity of the final
Key Players
The prominent players operating the global propolis market are Bee
Health Limited (UK), B Natural SRL (Italy), Pharma Base SA (Switzerland),
Comvita (New Zealand), Herbaland Naturals Inc. (Canada), Laprell's Beehive
Products Inc. (Canada), the Propolis People (South Africa), Hi-Tech Natural
Product India Ltd (India), Natures Goodness (Australia), Shaanxi Rebecca
Bio-Tech Co. Ltd (China), Arataki Honey Ltd (New Zealand), and Sunyata Pon Lee
(Brazil).
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Segmentation
The global propolis market has been segmented on the basis of
application and end-use industry.
By mode of application, the global propolis market has been
segmented into preservative, antioxidant, haircare, skincare, medical, and
others.
By mode of end-user industry, the global propolis market has
been segmented into food & beverage, healthcare, personal care &
cosmetics, and others. Among these, the healthcare and personal care &
cosmetics segment occupies a significant share in the global market. While in
the healthcare sector, propolis is extensively used to treat cancer and other
chronic diseases, the product is used to make several cosmetic products such as
lotions, anti-acne soaps, shampoos, and anti-aging products in the personal
care & cosmetics segment.
Regional Analysis
Geographically, the propolis
market span across regions namely, North America, Asia Pacific, Latin
America, Europe, and the Middle East & Africa.
The Asia Pacific region is anticipated to expand at the
highest growth rate owing to the augmenting demand for propolis in the
healthcare sector. Moreover, the increasing use of propolis in several beauty
products along with the accelerating demand for personal care products is
likely to foster the market growth in this region. Additionally, the presence
of nations such as China, Japan, Singapore, South Korea, and India are aiding
the market growth in the coming years.
Regions like Europe and North America are estimated to
dominate the propolis market owing to the increasing demand for the product in
personal care & cosmetics as well as in the healthcare sector. In North
America, the U.S. occupied the major share due to the large-scale production
and high consumption of cosmetic products.
Industry Updates
December 06, 2018: NaturaNectar, a Florida-based company,
harvesting propolis for the last ten years has recently announced to launch their
bee propolis skin care products in 2019.
NOTE: Our
Team of Researchers are Studying Covid19 and its Impact on Various Industry
Verticals and wherever required we will be considering Covid19 Footprints for
Better Analysis of Market and Industries. Cordially get in Touch for More
Details.
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