Propolis Market (By Product Type: Capsules & Tablets, Liquids, Others; By Distribution Channel: Retail Store, Online, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2024-2033
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.
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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.
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.
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.
Report Coverage | Details |
Market Size in 2023 | USD 720.13 Million |
Market Size in 2024 | USD 736.91 Million |
Market Size by 2033 | USD 906.65 Million |
Propolis Market Growth Rate | CAGR of 2.33% from 2024 to 2033 |
Largest Market | North America |
Base Year | 2023 |
Forecast Period | 2024 to 2033 |
Segments Covered | Product Type, Distribution Channel, and Regions |
Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
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.
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.
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.
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.
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.
Recent Developments
Segments Covered in the Report
By Product Type
By Distribution Channel
By Geography
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Propolis Market
5.1. COVID-19 Landscape: Propolis Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Propolis Market, By Product Type
8.1. Propolis Market Revenue and Volume, By Product Type, 2024-2033
8.1.1 Capsules & Tablets
8.1.1.1. Market Revenue and Volume Forecast (2021-2033)
8.1.2. Liquids
8.1.2.1. Market Revenue and Volume Forecast (2021-2033)
8.1.3. Others
8.1.3.1. Market Revenue and Volume Forecast (2021-2033)
Chapter 9. Global Propolis Market, By Distribution Channel
9.1. Propolis Market Revenue and Volume, By Distribution Channel, 2024-2033
9.1.1. Retail Store
9.1.1.1. Market Revenue and Volume Forecast (2021-2033)
9.1.2. Online
9.1.2.1. Market Revenue and Volume Forecast (2021-2033)
9.1.3. Others
9.1.3.1. Market Revenue and Volume Forecast (2021-2033)
Chapter 10. Global Propolis Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Volume Forecast, By Product Type (2021-2033)
10.1.2. Market Revenue and Volume Forecast, By Distribution Channel (2021-2033)
10.1.3. U.S.
10.1.3.1. Market Revenue and Volume Forecast, By Product Type (2021-2033)
10.1.3.2. Market Revenue and Volume Forecast, By Distribution Channel (2021-2033)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Volume Forecast, By Product Type (2021-2033)
10.1.4.2. Market Revenue and Volume Forecast, By Distribution Channel (2021-2033)
10.2. Europe
10.2.1. Market Revenue and Volume Forecast, By Product Type (2021-2033)
10.2.2. Market Revenue and Volume Forecast, By Distribution Channel (2021-2033)
10.2.3. UK
10.2.3.1. Market Revenue and Volume Forecast, By Product Type (2021-2033)
10.2.3.2. Market Revenue and Volume Forecast, By Distribution Channel (2021-2033)
10.2.4. Germany
10.2.4.1. Market Revenue and Volume Forecast, By Product Type (2021-2033)
10.2.4.2. Market Revenue and Volume Forecast, By Distribution Channel (2021-2033)
10.2.5. France
10.2.5.1. Market Revenue and Volume Forecast, By Product Type (2021-2033)
10.2.5.2. Market Revenue and Volume Forecast, By Distribution Channel (2021-2033)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Volume Forecast, By Product Type (2021-2033)
10.2.6.2. Market Revenue and Volume Forecast, By Distribution Channel (2021-2033)
10.3. APAC
10.3.1. Market Revenue and Volume Forecast, By Product Type (2021-2033)
10.3.2. Market Revenue and Volume Forecast, By Distribution Channel (2021-2033)
10.3.3. India
10.3.3.1. Market Revenue and Volume Forecast, By Product Type (2021-2033)
10.3.3.2. Market Revenue and Volume Forecast, By Distribution Channel (2021-2033)
10.3.4. China
10.3.4.1. Market Revenue and Volume Forecast, By Product Type (2021-2033)
10.3.4.2. Market Revenue and Volume Forecast, By Distribution Channel (2021-2033)
10.3.5. Japan
10.3.5.1. Market Revenue and Volume Forecast, By Product Type (2021-2033)
10.3.5.2. Market Revenue and Volume Forecast, By Distribution Channel (2021-2033)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Volume Forecast, By Product Type (2021-2033)
10.3.6.2. Market Revenue and Volume Forecast, By Distribution Channel (2021-2033)
10.4. MEA
10.4.1. Market Revenue and Volume Forecast, By Product Type (2021-2033)
10.4.2. Market Revenue and Volume Forecast, By Distribution Channel (2021-2033)
10.4.3. GCC
10.4.3.1. Market Revenue and Volume Forecast, By Product Type (2021-2033)
10.4.3.2. Market Revenue and Volume Forecast, By Distribution Channel (2021-2033)
10.4.4. North Africa
10.4.4.1. Market Revenue and Volume Forecast, By Product Type (2021-2033)
10.4.4.2. Market Revenue and Volume Forecast, By Distribution Channel (2021-2033)
10.4.5. South Africa
10.4.5.1. Market Revenue and Volume Forecast, By Product Type (2021-2033)
10.4.5.2. Market Revenue and Volume Forecast, By Distribution Channel (2021-2033)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Volume Forecast, By Product Type (2021-2033)
10.4.6.2. Market Revenue and Volume Forecast, By Distribution Channel (2021-2033)
10.5. Latin America
10.5.1. Market Revenue and Volume Forecast, By Product Type (2021-2033)
10.5.2. Market Revenue and Volume Forecast, By Distribution Channel (2021-2033)
10.5.3. Brazil
10.5.3.1. Market Revenue and Volume Forecast, By Product Type (2021-2033)
10.5.3.2. Market Revenue and Volume Forecast, By Distribution Channel (2021-2033)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Volume Forecast, By Product Type (2021-2033)
10.5.4.2. Market Revenue and Volume Forecast, By Distribution Channel (2021-2033)
Chapter 11. Company Profiles
11.1. Apis Flora
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Herb Pharm LLC
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Bee Health Limited
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. YS Organic Bee Farms
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Comvita Ltd
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Wax Green
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Apiary Polenecter
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Uniflora Health Foods
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Sunyata Pon Lee
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. NOW Foods
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
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