Global Propolis Market By Product Type (Capsules And Tablets, Liquids, and Other Product Types), By Distribution Channel (Retail Store, Online, and Other Distribution Channel), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Propolis Market Overview:

The global propolis market was valued at USD 6,421 million in 2021. This number will increase at a compound annual growth rate of 3.2% between 2023-2032.

Major factors driving the market growth are the increasing demand for propolis within the healthcare and pharmaceutical industries. Propolis can also be used in dermatology products to treat acne, skin infections, burns, and neurodermatitis. This product is useful in treating cancer with ointments. It helps to reduce the growth of tumorous cells as well as their multiplication.

Propolis is made from the bud of poplar and cone-bearing trees. It is rare to find it in its purest form, so beehives are the best source. This product can be used for the treatment of cold sores and diabetes. It is a product that has seen an increase in demand over recent years. Accordingly, it is expected that the market will grow during the assessment period.

Global Propolis Market Analysis

Product Type Analysis

The tablets and capsules segment dominated the market, accounting for more than 61.0% of the total revenue share in 2021. This is because it’s the simplest type of propolis and customers love it. These products can be used to treat many diseases and improve the immune system. Propolis tablets and capsules are also sold as a dietary food supplement. This will support the industry’s sales.

Because of rising demand, the segment of liquid products is expected to experience 3% growth over the forecast period. Other factors that are driving industry growth include rising demand for liquid propolis, increasing disposable incomes, and changing lifestyles. It is also beneficial for digestion. This is why its demand will continue to rise in the near future. Accordingly, this segment will experience growth in the future.

Distribution Channel Analysis

The market was dominated by the retail segment, which accounted for a significant revenue share in 2021. Due to the wider range of products offered by retail stores than any other channel, propolis demand is increasing. The segment is projected to experience growth over the assessment period.

From 2023 to 2032, the online distribution channel segment will experience the fastest CAGR. Propolis can also be purchased online for a low price. There are many benefits to purchasing propolis online, including discounts, coupon benefits, and other benefits. You can also find a variety of propolis products of different brands on the online platform. This segment is forecast to see growth during the forecast period.

Key Market Segments

By Product Type

•  Capsules And Tablets
•  Liquids
•  Other Product Types

By Distribution Channel

•  Retail Store
•  Online
•  Other Distribution Channel

Market Dynamics

The market is growing because of an increase in herpes virus types 1 and 2 infections. These infections cause cold sores and blisters that can often be painful. The WHO 2020 report states that genital and genital infections play a significant role in HIV transmission.

The U.S. ranks among the countries with the highest prevalence of genital mypes. A survey by the Centers for Disease Control and Prevention in 2020 found that 574,100 people have genital herpes. Propolis ointment can be used to treat blisters and cold sores. This is why its demand is expected to increase.

With a rising health consciousness, consumers are more likely to purchase the product. The market will grow over the forecast period due to an increase in disposable income, improved living standards, and a rise in health expenditure.

Market growth is further driven by its ability to boost the immune system, reduce wrinkles and improve digestive health. Due to the Covid-19 epidemic, the supply chain was severely affected. It caused serious problems for beekeepers.

Bee farmers found it difficult to move their bees internationally and between different countries because they were locked down in various countries. Many bees were left starving. The production of propolis was therefore reduced. The lockdown also caused restrictions in the distribution channels of the market, including the closure of specialty retailers and banning online delivery.

Regional Analysis

North America dominated this market and accounted for over 33.0% of the largest revenue share in 2021. This is due to the high demand for propolis in Canada and the U.S. The U.S. is seeing an increase in genital herpes cases. This has led to a rise in demand for propolis in this region.

The U.S. ranks among the countries with the highest incidences of genital and other herpes viruses. Rising demand for imports is expected to drive significant growth in the industry over the forecast period.

Asia Pacific will see a 2.7% CAGR between 2023-2032. This is due to the rising demand for propolis. Further driving market growth is the rise in disposable income. The growth of the regional market is also expected to be driven by an increase in cancer cases. The propolis market in the region is expected to grow over the forecast period.

Кеу Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Key Companies & Market share Analysis:

Innovating new products for the rising demand for propolis is the main focus of many companies. The market is open to new players due to its low entry barriers and greater market potential. Product development is possible in regions with high demand because of the growing demand for propolis.

Key Market Players:

•  Apis Flora
•  Herb Pharm LLC
•  Bee Health Limited
•  YS Organic Bee Farms
•  Comvita Ltd
•  Wax Green
•  Apiary Polenecter
•  Uniflora Health Foods
•  Other Key Players

For the Propolis Market research study, the following years have been considered to estimate the market size: