The Global Propolis Market size is expected to reach $743.9 million by 2030, rising at a market growth of 2.6% CAGR during the forecast period.
The rising prevalence of antioxidants in beauty and health supplements, propolis capsules, and extracts is expected to gain traction as more consumers are willing to incorporate antioxidants into their daily diets. Therefore, capsules & tablets segment would capture approximately 3/5th share of the market by 2030. In the past few years, there has been an increase in demand for various health supplements worldwide due to a greater understanding of health benefits. In addition, propolis contains polyphenols known as flavonoids, which are a source of antioxidants. Some of the factors impacting the market are increasing demand for propolis for developing cancer-related applications, rising awareness of bee products, and side-effects such as allergies caused due to use of propolis.
The growing demand for propolis in cancer-related applications reflects the increasing interest in complementary and integrative cancer prevention and treatment approaches. Its unique composition and potential health benefits make it an intriguing subject of research and an attractive option for individuals seeking natural ways to support their health and well-being. The demand for natural antioxidants like propolis has risen as individuals seek ways to reduce their cancer risk. Hence, these elements will aid in the expansion of the market throughout the forecast period. Bee products, including honey, royal jelly, bee pollen, and propolis, have gained attention for their nutritional and potential health benefits. Increasing consumer awareness of health and wellness has fuelled the demand for natural and functional foods, supplements, and remedies. As people become more health conscious, they are seeking natural alternatives to support their well-being. Additionally, effective marketing and promotion campaigns by producers and brands have raised awareness about the benefits of bee products and their diverse uses. Therefore, the rising awareness of the benefits of various bee products, including propolis, is expected to drive the market.
However, while propolis is generally considered safe, it can cause specific side effects in some individuals, particularly those allergic to bee products or particular components found in propolis. Allergic reactions to propolis can vary from mild to severe intensity and may include symptoms such as skin itching, redness, hives, swelling, and sometimes difficulty breathing or anaphylaxis. In addition, the topical application of its products can, in rare instances, cause contact dermatitis. This presents as redness, itching, and skin irritation. These side effects act as a restraining factor for the market during the forecast period.
By distribution channel, the market is segmented into retail store, online, and others. The retail store segment accounted for the highest revenue share in the market in 2022. Retail store offers a greater selection of propolis than any other distribution channel, resulting in a rising demand from customers. Some stores may provide samples or testers of propolis products, allowing consumers to try them before purchasing. This can help them in determining which product suits their preferences and needs. Consequently, the segment is expected to expand in the coming years.
On the basis of product, the market is divided into capsules & tablets, liquids, and others. The liquids segment captured a significant revenue share in the market 2022. Increasing demand for liquid propolis products, rising disposable incomes, and a shift in lifestyles are additional factors driving industry expansion. Additionally, it improves digestive issues. Because of this, its demand is anticipated to increase in the near future. Consequently, segment growth is expected over the forecast period.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 610.9 Million |
| Market size forecast in 2030 | USD 743.9 Million |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 2.6% from 2023 to 2030 |
| Number of Pages | 185 |
| Number of Table | 260 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Product Type, Distribution Channel, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on region, the market is analyzed into North America, Europe, Asia Pacific, and LAMEA. The North America region garnered the highest revenue share in the market in 2022. As the demand is high in the US and Canada, North America dominates the market. Due to the expanding incidence of genital herpes in the United States, its demand is anticipated to rise in this region. The United States is among the countries with the highest incidence of genital herpes and other herpes viruses. In addition, due to expanding import demand, the market is expected to experience significant growth over the forecast period.
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.
Free Valuable Insights: Global Propolis Market size to reach USD 743.9 Million by 2030
By Product Type
By Distribution Channel
By Geography
The Market size is projected to reach USD 743.9 million by 2030.
Rising Awareness of Bee Products are driving the Market in coming years, however, Growing Demand for Supplements Including Antioxidants restraints the growth of the Market.
Apis Flora Industrial e Comercial Ltda., Herb Pharm, LLC, Bee Health Limited (INW Manufacturing, LLC), YS Organic Bee Farms, Comvita Limited, Wax Green, Apiario Polenectar, Uniflora Nutraceutica Ltda, Sunyata Produtos Alternativos Ltda, and NOW Health Group, Inc.
The expected CAGR of this Market is 2.6% from 2023 to 2030.
The Capsules & Tablets segment is leading the Market by Product Type in 2022; thereby, achieving a market value of $457.4 Million by 2030.
The North America region dominated the Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $250.0 Million by 2030.
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