The Europe Propolis Market would witness market growth of 2.4% CAGR during the forecast period (2023-2030).
The rising demand in the pharmaceutical and healthcare industries significantly propels market expansion. It is also utilized in a variety of dermatological treatments for burns, acne, fungal infections, and neurodermatitis. The product has applications in ointments and cancer treatment because it inhibits the growth and propagation of cancerous cells. Bees produce propolis from the buds of coniferous and poplar trees. It is typically derived from beehives and is rarely available in its purest form. This product is used to treat fever blisters, diabetes, and oral mucositis. In recent years, its demand has increased for this reason.
A rise in health consciousness makes consumers more inclined to purchase the product. In addition, a rise in living standards, a rise in health expenditures, an increase in disposable income, and widespread marketing of processed propolis will drive market expansion over the forecast period. Its ability to support the immune system, reduce wrinkles, and enhance digestive health contributes to the market's development.
Some food and beverage innovators experiment with propolis in unique culinary applications, such as in salad dressings, marinades, or as a flavouring agent in certain dishes. These experimental applications are relatively niche but indicate a growing interest in using propolis in creative ways within the food industry.
The increasing demand in Europe can be attributed to increased health consciousness and the product's ability to improve adults' immune and digestive health and reduce creases. In addition, the growing consumer interest in certified organic products as a result of rising concerns regarding the presence of metals, impurities, and microbial contamination has prompted numerous manufacturers to label the product as organic. For instance, Herbiolys Laboratoire is one of the French manufacturers and distributors of propolis with a vegan and organic designation. Such initiatives by market participants have fostered consumer confidence and fuelled market expansion.
The Germany market dominated the Europe Propolis Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $52.4 Million by 2030. The UK market is poised to grow at a CAGR of 1.6% during (2023 - 2030). Additionally, The France market would witness a CAGR of 3.2% during (2023 - 2030).
Based on Product Type, the market is segmented into Capsules & Tablets, Liquids and Others. Based on Distribution Channel, the market is segmented into Retail Store, Online, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Propolis Market is Projected to reach USD 743.9 Million by 2030, at a CAGR of 2.6%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Apis Flora Industrial e Comercial Ltda., Herb Pharm, LLC, Bee Health Limited (INW Manufacturing, LLC), YS Organic Bee Farms, Comvita Limited, Wax Green, Apiário Polenectar, Uniflora Nutraceutica Ltda, Sunyata Produtos Alternativos Ltda, and NOW Health Group, Inc.
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