2016 - 2026
Middle-East and Africa
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The global propolis market was valued at USD 607.10 million in 2020 and it is expected to register a CAGR of 5.48% during the forecast period 2021-2026.
The supply chain of the market studied was vastly affected by the falling production of propolis as an ingredient. The COVID-19 lockdown has presented a peculiar problem for beekeepers and bees. As countries go into extended lockdowns, the movement of non-essential vehicles has come to a standstill. Consequently, bee farmers found it difficult to move their bee boxes from one place to another, both cross-country and internationally, which resulted in bees starving to death. This reduced bee pollination and the production of propolis. Moreover, the availability of limited labour power further the production of end products.
Propolis intake strengthens the immune system, simultaneously serving as an antioxidant, anesthetic, and wound healer, which makes it an important component of the pharmaceutical sector.
One of the challenges while purchasing Propolis is the lack of standardization across available brands. Many brands state they are made from 20% pure Propolis, however this does not inform the consumer of the quality of that 20%. Such a drawback in information transparency might restrain the growth of the market.
Scope of the Report
Propolis or bee glue is a resinous mixture that honey bees produce by mixing saliva and beeswax with exudate gathered from tree buds, sap flows, or other botanical sources. The global propolis market is segmented by product type, distribution channel, and geography. Based on product type, the market is segmented into capsules and tablets, liquids, creams, and other product types. Based on distribution channel, the market is segmented into Offline Retail Stores and Online Retail Stores. Offline Retail Stores is further sub segmented into supermarkets/hypermarkets, pharmacies and drugstores, and other offline retail stores. Also, the report provides global insights into the propolis market in the major economies across regions, including, North America, Europe, Asia-Pacific, South America, and Middle East & Africa. For each segment the market sizing and forecasting have been done in value terms USD million.
|By Product Type|
|Capsules and Tablets|
|Other Product Types|
|By Distribution Channel|
|Online Retail Stores|
Key Market Trends
Rising rate of herpes simplex virus type 1 and type 2
Globally, billions of people are living with herpes infections, and are affected by oral as well as genital herpes. These infections can lead to frequent, often painful, blisters or cold sores. These infections can cause more deadly diseases. According to a recent report launched in May 2020 by the World Health Organization (WHO), genital herpes infections play a substantial role in the spread of HIV globally. The United States is among the leading population with genital herpes. According to the Centers for Disease Control and Prevention (CDC), there were close to 572,000 new cases of genital herpes infections in the United States in 2019. Although researchers are continuously working on finding vaccines or proper cures to the ailment, still there is no proper result obtained till date. Moreover, the surging consumer awareness regarding the dreadful effects of this virus is contributing to the growth of propolis as an ointment to heal blisters and cold sores.
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Europe holds a Largest Market Share
The growing demand for propolis in Europe can be attributed to the rising health awareness and its ability to boost the immune system, digestive health, and reducing wrinkles, among adults. Additionally, propolis is a gluten-free product, which can be used by people suffering from coeliac diseases. At present, in the United Kingdom, around 20% of the total population is aged above 65 years. The rise in the elderly population, along with the ability to spend more on healthcare products, is expected to augment the market growth. On account of their nutritional and health benefits, they are widely being used to boost immunity. Based on the epidemiological and preclinical studies, propolis has a chemo-preventive activity, which decreases the risk of cancer. As per the data from the Cancer Research UK, every two minutes, someone in the United Kingdom is diagnosed with cancer. The rising incidence of cancer among the British people and evidence from clinical studies aid the propolis market growth.
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The use of propolis is taking place at an enlarged scale since the disclosing of associated healthcare benefits. The manufacturers from countries like Brazil, New Zealand, China, Russia, and Turkey are introducing the extraction of propolis at industrial scale and the products are visible in the market in the form of capsules, sprays, and extracts. The major players of the market are Comvita, Wax Green, Apis Flora, Apiário Polenectar, and MN Propolis. The strategy for partnerships, joint ventures, and mergers has been the crucial strategy behind the development of these companies in the global market scenario. Over the past few years, expanding the market presence to emerging economies has been a key strategy behind the growth of major companies.
In 2021 - Comvita announced the official opening of its state-of-the-art Wellness Lab experiential space in the Viaduct, Auckland.
In 2019 - NaturaNectar launched bee propolis skincare line in United States.
In 2016 - Australia-based honey manufacturer, Capilano, formed a joint venture for apiary business with Comvita. The joint-venture will operate several facilities in Australia to produce Leptospermum or manuka honey and propolis for a range of medical and natural health products.
Table of Contents
1.1 Study Assumptions and Study Deliverables
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Capsules and Tablets
5.1.4 Other Product Types
5.2 By Distribution Channel
5.2.1 Offline Retail Stores
184.108.40.206 Pharmacies and Drugstores
220.127.116.11 Other Offline Retail Stores
5.2.2 Online Retail Stores
5.3.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.3.3 Asia Pacific
184.108.40.206 Rest of Asia-Pacific
5.3.4 South America
220.127.116.11 Rest of South America
5.3.5 Middle East and Africa
18.104.22.168 South Africa
22.214.171.124 Saudi Arabia
126.96.36.199 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Strategies Adopted by Leading Players
6.2 Market Positioning of Players
6.3 Company Profiles
6.3.1 Herb Pharm LLC
6.3.2 Apis Flora
6.3.3 Bee Health Limited
6.3.4 YS Organic Bee Farms
6.3.5 Comvita Ltd
6.3.6 Wax Green
6.3.7 Apiary Polenecter
6.3.8 Uniflora Health Foods
6.3.9 Sunyata Pon Lee
6.3.10 NOW Foods
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Propolis Market market is studied from 2016 - 2026.
What is the growth rate of Propolis Market?
The Propolis Market is growing at a CAGR of 5.63% over the next 5 years.
Which region has highest growth rate in Propolis Market?
South America is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Propolis Market?
Asia Pacific holds highest share in 2020.
Who are the key players in Propolis Market?
- Wax Green
- Apis Flora
- Apiário Polenectar
- MN Propolis
Are the major companies operating in Propolis Market.