Propolis Industry to Record an Exponential by 2024 - 2031 | MN Propolis, Comvita Limited, API Health

Market Overview:

The global propolis market is estimated to be valued at USD 683.5 Mn in 2024 and is expected to reach USD 806.9 Mn by 2031, growing at a compound annual growth rate (CAGR) of 2.4% from 2024 to 2031.

Market Dynamics:

The demand for propolis is projected to grow steadily owing to the increasing health awareness among consumers and propolis's strong medicinal properties. Propolis is a rich source of polyphenols and flavonoids that exhibit antimicrobial, anti-inflammatory, and antioxidant properties. It helps boost the immune system and supports heart health. Moreover, the growth of the nutraceuticals industry has further propelled the demand for propolis extracts as a functional ingredient in dietary supplements. Additionally, rising applications of propolis in the cosmetics industry have also contributed to market growth over the forecast period 2024-2031.

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Production and Raw Material Supply

The availability of raw propolis is dependent on consistent beehive production and honeybee rearing activities. Adverse weather conditions, pests, pathogens and reduced forage areas can negatively impact honeybee colonies. Poor weather during spring season hampers the building of new bee colonies. This affects the collection of propolis by bees from plant sources. Geopolitical uncertainties in key propolis producing regions like Brazil and Argentina also add to supply worries. Raw material supply issues increase production costs for propolis extract manufacturers. This price volatility poses a challenge for stakeholders and acts as a market constraint.

Opportunity: Innovation of standardised Propolis Products and Formulations

While propolis is gaining recognition for its properties, there exist opportunities to innovate standardized propolis products and formulations. Propolis extracts from different geographic origins have varying chemical compositions. This leads to inconsistencies in quality and efficacy of crude propolis. Developing standardized extracts with defined marker compounds through processing can help produce reproducible results. Innovation of user-friendly delivery forms like lozenges, sprays and dissolvable tablets can also increase access and compliance. This presents an opportunity for industry players to introduce novel propolis formulations catering to different applications. Research into delivering site-specific benefits through innovative delivery systems can further expand the propolis market.

Trends: Focus on Sustainable Sourcing and Traceability in Supply Chain

There is a growing market imperative on sustainable sourcing practices and transparency in natural products supply chains. Consumers are demanding verified traceability from the source material all the way to finished goods. This necessitates implementation of standards like organic certification, fair trade mechanisms, controlled harvesting and GAP (good agricultural practices) in apicultural activities. Blockchain technology can help achieve end-to-end traceability of propolis batches. Companies are also exploring partnerships with local beekeepers for community development and employment generation. A trend towards sustainable wild harvesting over commercial beekeeping bodes well for long term supplies. Adoption of such responsible practices helps build brand credibility and reassures consumers.

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Top Companies Featured in This Report:

★ MN Propolis
★ Comvita Limited
★ API Health
★ B Natural
★ Bee Health Limited
★ Wax Green
★ Zhifengtang Pharmaceutical Co. Ltd.
★ Ponlee
★ Ponlee Bee
★ Sunyata Pon Lee Bee
★ Zhonghong Biological Group Co., Ltd.,
★ Bee & Health Co. Ltd.
★ Honey Pacifica
★ Honey Gardens
★ Beekeeper's Naturals
★ Beehive Botanicals Inc.
★ Durham's Bee Farm
★ Y.S. Eco Bee Farms
★ Royal Jelly Australia
★ NaturaNectar LLC.

Market Segmentation:

By Product Type:

★ By Product Type: Capsules and Tablets, Liquids, Creams, and Other Product Types
★ By Distribution Channel: Retail Store, Online, and Others

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

Key Insights from the Global Propolis Market Analysis:

Market Size Evaluation: Assessing the value and sales volume of the Propolis market spanning from 2024 to 2031.
Market Trends and Dynamics: Analyzing the drivers, opportunities, challenges, and risks influencing the Propolis market.
Macro-economic and Regional Impacts: Exploring how global inflation and geopolitical events affect the Propolis market.
Segment Analysis: Examining the market value and sales volume of Propolis by type and application from 2024 to 2031.
Regional Market Overview: Assessing the current situations and future prospects of the Propolis market in different regions.
Country-level Studies: Providing insights into revenue and sales volume for major countries within each region.
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.

In summary, whether you're engaged in manufacturing, distribution, or investment within the Propolis sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.

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Author Bio:

Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.

(LinkedIn: https://www.linkedin.com/in/alice-mutum-3b247b137 )

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