Propolis Market Size, Share, and Trends 2024 to 2033

Propolis Market Size and Companies

The global propolis market size was USD 720.13 million in 2023, calculated at USD 736.91 million in 2024, and is expected to reach around USD 906.65 million by 2033, expanding at a CAGR of 2.33% from 2024 to 2033. The growing demand for antioxidants across the world is driving the growth of the propolis market.

Propolis Market Key Takeaways

• The North America propolis market size was evaluated at USD 252.05 million in 2023 and is expected to attain around USD 321.86 million by 2033, poised to grow at a CAGR of 2.47% between 2024 and 2033.
• North America dominated the market with the largest revenue share of 35% in 2023.
• Asia Pacific is anticipated to experience the fastest growth in the global market during the forecast period.
• By product type, the capsules & tablets segment has held a major revenue share of 62% in 2023.
• By product type, the liquid segment is projected to witness significant growth during the forecast period.
• By distribution channel, the retail store segment has contributed more than 72% of revenue share in 2023.
• By distribution channel, the online segment is expected to grow at a rapid pace during the forecast period.

U.S. Propolis Market Size and Growth 2024 to 2033

The U.S. propolis market size surpassed USD 176.43 million in 2023 and is projected to attain around USD 226.91 million by 2033, poised to grow at a CAGR of 2.54% from 2024 to 2033.

North America led the propolis market in 2023. The growth of this region is mainly driven by the rise in the number of chronic diseases such as cancer and rheumatoid arthritis. Thus, growing cancer cases increase the demand for propolis for curing, thereby driving the growth of the market. Also, growing awareness of veterinary care among the people also increases the demand for propolis-based products. This, in turn, boosts the market growth. Moreover, rising government initiatives to develop apiculture and the growing interest of people in bee-keeping have further driven the market growth in this region. Furthermore, the presence of propolis manufacturing companies such as Herb Pharm LLC, Now Foods, and others has driven the growth of the propolis market during the forecast period.

• According to the National Cancer Institute, around 2,001,140 new cases of cancer are expected to be diagnosed in the United States, and almost 611,720 people may die from this disease. It also stated that among men, lung, prostate, and colorectal cancers account for about 48% of all cancers diagnosed in 2024.

Asia Pacific is anticipated to experience the fastest growth in the global propolis market during the forecast period. The growth of this region is mainly driven by the rising prevalence of cardiovascular diseases among the people. Thus, the rise in cardiovascular diseases increases the demand for propolis-based medicine to cure. This, in turn, drives the growth of the market. Also, the rising interest of people towards beauty products and immunity gainers has also increased the demand for propolis, thereby driving the growth of the market in this region. Moreover, growing asthma cases and infertility issues among the people increased the demand for propolis medicines for treatment, which in turn is expected to boost the growth of the propolis market in this region.

• According to a study by Asia Pacific Cohort Studies Collaboration (APCSC), there is an estimated increase of 60% in CVD patients in Asian countries. Also, it is estimated that the total number of hypertension patients in India and China is likely to increase to more than 500 million by the year 2025.

Market Overview

The propolis market is a developing industry within the chemical domain. Propolis is also known as propolis or bee glue. These are natural resinous products that are derived from honey bees. It has a gummy texture, distinctive smell, and brown-blackish in color. Propolis comes with various pharmacologic and nutraceutical properties that help in the production of different products. It also consists of an important compound known as pinocembrin, which acts as an antifungal for treating skin irritations.

Propolis also has antimicrobial properties that help to fight against various infections and diseases. It also has anti-cancer and antiviral properties to reduce the impacts of cancer and other viral diseases. Propolis helps in reducing plaque and recovery from periodontal issues. These materials are also used as traditional medicines for gastrointestinal disorders, and it is used as food supplements as they are nutrient-rich.

The propolis market is a fragmented market dominated by a few market players including Wax Green, Apis Flora, Apiário Polenectar, Innovations in Nutrition + Wellness and Comvita Ltd. These products are available in the market in several forms such as sprays, capsules and extracts.This industry is also growing gradually with entry of new start-ups and rise in public-private partnerships.

The market players are constantly engaged in research and development activities for manufacturing propolis with increased benefits to be used in several industries. The demand and supply of this industry is maintained by retail and online stores. The availability of propolis-based products in retail stores has increased the demand for propolis from local customers.

The growing advancements in internet facilities and the rising proliferation of smartphones tend people to buy and sell products by sitting at home. Propolis products are mostly available on e-commerce sites such as Amazon, eBay, and Alibaba. These companies facilitate faster delivery of propolis-based products in any part of the world. Thus, the growing trend of online shopping plays an important role in shaping the propolis industry.

Propolis Market Growth Factors

• The rising demand for propolis from the healthcare and pharmaceutical sectors boosts market growth.
• The increasing use of propolis in the production of cough syrups is aiding the growth of the market.
• Propolis's promotional activities through digital marketing and blogging sites also impacted the market positively.
• The growing use of propolis for skin smoothing and lightening has boosted the market growth to some extent.
• The rising application of propolis in dairy industries for manufacturing yogurt has further driven the growth of the propolis market during the forecast period.
• The growing application of propolis in skin treatment has also driven the market growth.
• The increase in demand for propolis for the treatment of cancer fosters market growth.
• Growing demand for organic products is another factor that positively impacts the market growth.
• Rising demand for propolis for the treatment of genital herpes is also aiding the growth of the propolis market.
• The developments and research related to bio-medication techniques also accelerate the market growth.
• The rising application of propolis for fighting against parasites is driving the growth of the propolis market.

Propolis Market Scope

Propolis Market Dynamics

Driver

Rising demand for propolis in maintaining the human body

The world is changing rapidly with the developments in medical sciences and related fields. The present era of modernisation tends people towards a fit body and good looks that can be maintained using propolis-based products. Propolis helps in treatment of several skin issues such as psoriasis, scleroderma, vitiligo, acne and darkspots. Propolis has antibacterial and anti-inflammatory properties that help in fighting against skin diseases and help people to look good.

Also, there is a growing demand for antioxidant-based supplements, which increases the demand for propolis among people. Propolis is a good source of antioxidants and helps to increase body strength and immunity. Thus, the growing demand for propolis to maintain fitness and good looks boosts the growth of the propolis market during the forecast period.

Restrain

Side effects of propolis and less shelf life

Propolis is a very important product for the nutraceutical and cosmetic industries. These products decompose very quickly under normal environmental conditions, so they must be kept in air-tight containers at a temperature lower than 120’c in dark rooms. Thus, the lack of storage facilities lowers the shelf life of propolis, which in turn restrains the growth of the market. Moreover, there are several side effects of propolis, such as allergic reactions, mouth ulcers, bleeding disorders, and some others. Thus, these side effects tend to decrease the demand for propolis-based products, which is expected to restrain the growth of the propolis market during the forecast period.

Opportunity

Research associated with bioassay-guided chemical analysis

There are several developments taking place in the area of healthcare due to advancements in technologies and chemical sciences. The concept of bioassay-guided chemical analysis is an ongoing research trend that scientists follow to develop propolis with higher values. In a recent study, scientists isolated two new cytotoxic prenylflavone compounds from propolis that had been developed in Taiwan. These compounds consist of cytotoxic properties that stop the growth of cancer cells in the human body.

Another study was carried out to study the Brazilian proposal. Through this study, it has been found that Brazilian propolis contains several compounds that increase the hepatoprotective activity to fight against HIV and other related diseases. Thus, Bioassay-guided studies of active principles associated with the development of propolis are expected to create ample growth opportunities for the market players in the future.

Product Type Insights

The capsules & tablets segment led the propolis market in 2023. The growing demand for nutrient-rich products among people across the world has driven the market growth of this segment. Moreover, there are several benefits of using tablets and capsules, including dosage accuracy, ease of handling, high physical and chemical stability, and some others. This, in turn, drives the market growth. Also, most of the companies that deal with the production of food supplements are using tablets and capsules to maintain their market outreach. This, in turn, is driving the growth of the market during the forecast period.

The liquid segment is projected to witness significant growth during the forecast period. The growth of this segment is mainly attributed to the rising application of propolis in the production of eye drops for animals. Moreover, liquid propolis is used for the treatment of cold syndromes and some skin diseases. This, in turn, drives the growth of the market. Also, the growing application of liquid-based propolis in burn treatment, wound healing, germ killing, and others boosts the market growth. Furthermore, liquid-based propolis, which is used for treating patients suffering from cancer and genital herpes, has accelerated the growth of the market during the forecast period.

Distribution Channel Insights

The retail store segment dominated the propolis market in 2023. There is an ongoing demand for propolis-based products for numerous applications around the world. Some of these products are daily-used products such as food supplements, medicines, and others that can be bought directly from retail stores. Retail stores provide customers with a variety of choices and keep a huge stock of propolis for daily requirements according to people's demands. Thus, retail stores play a significant role in shaping the propolis industry, which in turn drives the growth of the market.

The online segment is expected to grow at a rapid pace in the propolis market during the forecast period. In the era of digitalization, people's interests have drastically shifted towards the trend of online shopping. Some of the biggest e-commerce giants, such as Amazon, Alibaba, eBay, and others, have a huge variety of products ranging from household to electronics. Also, these companies provide discounts on products, coupon benefits, and easy installment options that attract customers globally. Thus, the availability of propolis-based products in online platforms has positively impacted the growth of the market during the forecast period.

Propolis Market Companies

• Apis Flora
• Herb Pharm LLC
• Bee Health Limited
• YS Organic Bee Farms
• Comvita Ltd
• Wax Green
• Apiary Polenecter
• Uniflora Health Foods
• Sunyata Pon Lee
• NOW Foods

Recent Developments

• In April 2024, Millpledge Veterinary launched an ocular lubricant named Oculeze. This ocular lubricant consists of ingredients such as aloe vera, glycerine, chamomile, and propolis extract, and it helps treat eye problems in various animals.
• In January 2024, Apiotix launched a propolis-based skin care product. This product comes with several features such as anti-oxidative, anti-inflammatory, and antimicrobial properties and will reduce dependency on common preservatives that are used in skin care treatment.
• In June 2022, BEE&YOU launched a new propolis-containing food supplement. This supplement consists of propolis and vitamin C to strengthen the immune system, provide energy support, and help consumers fulfill their essential nutrient requirements.
• In April 2022, Fytexia partnered with B Natural. This partnership was made to launch their propolis-based ingredient, ‘Promunel,’ which will increase immunity and treat mild respiratory tract infections.

Segments Covered in the Report

By Product Type

• Capsules & Tablets
• Liquids
• Others

By Distribution Channel

• Retail Store
• Online
• Others

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa