The North America Propolis Market would witness market growth of 2.0% CAGR during the forecast period (2023-2030).
The cosmetic and skincare industry has incorporated propolis into various formulations, attributing it to skin benefits, such as anti-inflammatory properties and acne control. Additionally, the nutraceutical industry has witnessed a surge in demand, particularly in products aimed at immune support and general well-being.
Sustainability and ethical sourcing are gaining importance in the market, with environmentally conscious consumers favouring products with transparent sourcing practices. Ongoing research into propolis health benefits and its applications, along with regulatory considerations, drives innovation and quality control.
The consumption of it has been steadily increasing for several reasons. First and foremost, consumers are becoming more health-conscious and seeking natural remedies and supplements to support their well-being. Propolis, derived from beehives and known for its potential health benefits, aligns with this growing trend. Propolis contains antioxidants, which can help combat oxidative stress. Studies have investigated its role in reducing oxidative damage and its potential implications for diseases related to oxidative stress, including cardiovascular diseases. Some research has examined the immune-boosting properties of propolis, particularly its ability to enhance the body's immune response.
In 2018, gastrointestinal healthcare costs totalled $119.6 billion. According to the recent data from the Centers for Disease Control and Prevention (CDC), there are more than 35.4 million ambulatory visits annually for gastrointestinal symptoms. More than 8 million admissions were attributed to visits to emergency departments. Propolis can also improve the function of the intestinal barrier from the upregulation of the intestinal protein gene, as propolis is abundant in prebiotics that improve intestinal obstructions, which avoids the dislocations of bacteria, pathogens, and toxins from the gut to the bloodstream. Consequently, the increasing use for the treatment of gastric disorders is fuelling demand in North America.
The US market dominated the North America Propolis Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $179.1 Million by 2030. The Canada market is anticipated to grow at a CAGR of 4.3% during (2023 - 2030). Additionally, The Mexico market would register a CAGR of 3.4% 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 U.S., Mexico, Canada, and Rest of North America.
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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