Propolis Market to reach the value of USD 1352.91 million by 2029, at a CAGR of 6.31%, Size, Share, Trends

Propolis is a natural safeguard framework created by bumble bees to protect their hive from contamination. It functions as a repairman and, as a result, keeps the microbial development inside the hive under control. Because of propolis's broad antibacterial, antifungal, antiviral, cytotoxic, calming, and cancer prevention agent properties, it is widely used in the personal care, pharmaceutical, and food and beverage industries.

Data Bridge Market Research analyses that the propolis market was valued at USD 829.23 million in 2021 and is expected to reach the value of USD 1352.91 million by 2029, at a CAGR of 6.31% during the forecast period of 2022 to 2029.

View Detailed Report: https://www.databridgemarketresearch.com/reports/global-propolis-market

Market Definition

Propolis is a resinous mixture produced by honey bees from various portions of plants, buds, and exudates. Pollen, waxes, essential oils, flavonoids and phenolic acids, and different chemical substances such as sugars, steroids, vitamins, lactones, benzoic acid, and fatty acid esters are commonly found in it. It is hard, brittle, and lipophilic, but when heated, it softens, becomes flexible, gummy, and sticky. It has a nice and distinctive aromatic fragrance and ranges in color from yellow-green to dark brown according on age and origin. Propolis is extensively used to improve the immune system since it contains antioxidants, anesthetics, and wound healing capabilities.

Opportunity

New product launches and product assortments will also support various opportunities that will drive the growth of the propolis market in the forecast period. These exercises have paved the way for market participants to expand their business and client base. With the growing interest in propolis in the global market and its development, market players in the global market are expected to benefit from worthwhile development opportunities in the future.

Propolis Market Share Analysis

The propolis market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to propolis market.

Some of the major players operating in the propolis market are:

Apiário Polenectar (Brazil)
Sunyata Pon Lee (Brazil)
Apis Flora (Brazil)
Sunyata Pon Lee (Brazil)
Bee Health Limited (UK)
Zhifengtang (China)
Laprell's Beehive Products, Inc. (Canada)
Comvita Limited and its subsidiaries (New Zealand)
Wax Green (Brazil)
Manuka Health New Zealand (New Zealand)

Global Propolis Market Scope

The propolis market is segmented on the basis of product type, category, distribution channel, application and type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product type

Capsules & tablets
Spray
Extract
Others

Distribution channel

Store-based
Supermarkets & hypermarkets
Convenience stores
Others
Non-store-based

Category

Alcohol based
Alcohol free

Application

Food and beverages
Healthcare
Personal care
Cosmetics
Other

Type

Supercritical extraction co2 (sfe)
Ethanol extracted propolis (eep)
Glycol extracted propolis (gep)
Other

Recent Development

Comvita Ltd announced a strategic partnership with Caravan in 2021, as well as a joint venture with the entertainment and sports agency Creative Artists Agency (CAA). The new collaboration with Caravan will help to raise consumer awareness about the benefits of Mnuka Honey and Propolis by forming a celebrity-backed lifestyle brand that will use the natural healing properties of Mnuka Honey and Propolis for topical use.
In 2021, Innovations in Nutrition + Wellness (INW) announced the acquisition of Bee Health, the UK's leading nutritional supplement developer and manufacturer.
The highly complementary product capabilities and geographic scope of INW and Bee Health will further enhance the services provided to brand partners.

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