Global propolis market is expected to grow at a CAGR of 6% from 2021 to 2027

Published Date: February 27, 2021 |

Global propolis market is expected to grow at a CAGR of 6% from 2021 to 2027

Propolis is a heterogeneous mixture of naturally occurring resins and beeswax which is collected by the honeybees from various plants which serves to protect and sterilize the beehive which serves as a natural immune defense system for the whole beehive. The major drawback associated with this market is lack of regulatory norms and compliance standards has resulted into the sale of counterfeit products in the market as propolis containing products.

Cosmetic and personal care products are dominating the application segment for the propolis market. According to latest statistics presented by the World Health Organization (WHO), traumatic burns represent 1% of the global burden of diseases which concomitantly increases the traction for propolis products for its treatment. Healthcare is going to record exemplary market performance during the forecast period on account of the therapeutic efficacy demonstrated by propolis in the treatment of gastrointestinal ulcers. The clinical trial investigation has confirmed the clinical application of propolis as a potent antitumor agent due to the presence of caffeic acid and its derivatives in the natural propolis.

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Extracts are reigning the product type segment for the propolis market. According to the latest information provided by the World Health Organization (WHO), it is estimated that 1 to 2% of the global population suffer with some form of skin wound infection during their lifetime, which subsequently increases the demand for propolis market. Propolis spray is expected to register excellent market growth in the near future owing to its increasing application for the treatment of sore throat due to the antibacterial and anti-inflammatory properties exhibited by natural propolis.

North America is currently leading the geography segment for propolis market. Growing incidence of dermatology complications drives the market growth in the region. Flourishing pharmaceutical segment further accentuates the propolis market growth owing to its ability to treat gastrointestinal ulcers. As per the latest research citings provided by the National Institute of Health (NIH) approximately 95% of the United States population suffer with acne during their adolescent lifetime which increases the demand for propolis extract in the region. Europe is placed 2nd in the regional segment owing to the flourishing cosmetic and personal care industrial segment in the region. Asia Pacific is anticipated to be the fastest growing regional segment for propolis market. Existence of traditional medicines in the South Asian countries primarily determines the propolis market growth in the region. Constant rise in the e-commerce as a distribution channel further accentuates the market growth in the Asia Pacific region.

Natural product manufacturers actively engaged in the production of propolis are Apis Flora, Comvita, Sunyata Pon Lee, Laprell’s Beehive Products, Inc., Api├írio Polenectar, Hi-Tech Natural Product India Ltd., Manuka Health New Zealand, Wax Green, Bee Health Limited and Uniflora.

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Key Market Movements:

  • Rising prevalence of skin complications worldwide
  • Increasing public health awareness regarding the therapeutic efficacy of propolis in the treatment of inflammatory response associated with bacterial or viral infection
  • Flourishing traditional medicine market in the South Asian countries to further accentuate the propolis market growth
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