Propolis Market Size

Propolis Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The Propolis market is expected to grow at a CAGR of 6% from 2024 to 2032, reaching a size of $ 637 million in 2024. The CAGR of 6% is based on a study conducted by Grand View Research, Inc. and the market is expected to grow at a CAGR of 6% from 2024 to 2032. The market growth is mainly due to the increased awareness of consumers of the health benefits of propolis, especially its antimicrobial and anti-inflammatory properties. The increased demand for natural and organic products in the food, cosmetics and nutraceutical industries is also expected to drive the use of propolis-based products. Technological advancements in the extraction and production processes are also expected to drive market growth, enabling manufacturers to increase the quality and efficacy of propolis-based products. The major players in the industry, such as Comvita, Bee Health and Apis Flora, are expected to actively engage in strategic initiatives such as strategic alliances and product innovations to capture a larger market share. Comvita, for example, recently launched a new line of propolis supplements that are aimed at health-conscious consumers and highlight the growing trend towards natural health solutions. These factors will play a key role in shaping the future of the propolis industry.

Regional Market Size

Regional Deep Dive

The propolis market is experiencing dynamic growth in various regions, driven by the increasing awareness of natural health products and the growing demand for herbal supplements. In North America, Europe, Asia-Pacific, the Middle East and Africa (MEA) and Latin America, the propolis market is characterized by a combination of traditional uses and new uses, including cosmetics and nutraceuticals. Each region has its own opportunities and challenges, influenced by cultural preferences, regulations and economic conditions that affect the behavior of consumers and the development of the market.

North America

• Fortunately, the rise of e-commerce has made it much easier to purchase propolis, and the market has been swept by a wave of propolis products.
• The propolis industry has been forced by recent regulatory changes to enhance transparency and quality assurance.
• Propolis-based products for the care of the skin and the maintenance of the organism are gaining ground, and Burt’s Bees, for instance, is launching new lines with propolis in them.

Europe

• The growing demand for natural and organic products has led to a sharp rise in the demand for propolis. Companies such as Apis Flora and Propolia have cashed in on this by supplying propolis extracts certified as organic.
• A number of European companies have taken up the call for the environment and are now using more sustainable packaging for their propolis products. This fits in with the region’s green initiatives.
• Propolis, a food supplement, is subject to a serious study of its properties and its effects on the human organism. This is a very important study for the future development of products and marketing strategies in Europe.

Asia-Pacific

• Propolis is also widely used in China and India, where it is regarded as a common herbal medicine.
• Universities and biotech companies are working together on new research projects into the health benefits of propolis, which is expected to lead to new products and a heightened interest among consumers.
• Governmental initiatives to promote natural health products are creating a favorable environment for propolis, especially in Australia and New Zealand where natural remedies are widely accepted.

MEA

• The Middle East has a great future in the production of propolis. The consumers have become aware of the healing properties of this substance and companies such as Al-Haramain and Bee Natural are concentrating on the manufacture of propolis.
• Propolis is one of the products which, owing to the customary practice of the peoples of the East, in the use of natural remedies, is much in demand in the Gulf countries.
• In the Middle East and Africa region, the regulatory authorities have started to establish guidelines for the quality and safety of propolis products, which will increase the confidence of consumers and thus drive the market growth.

Latin America

• Brazil is becoming a major player in the propolis market. ApiFlore, a producer of propolis, uses the country’s rich biological diversity to create products for the domestic and international markets.
• The increasing popularity of natural and organic products in Latin America is encouraging more companies to use propolis as an active ingredient in their health supplements and cosmetics.
• The government’s support for beekeeping and natural products industries has led to innovation and sustainable development in the propolis market, with initiatives to boost local production and exports.

Did You Know?

“Propolis has been used for ages. It was used in Egypt as a preservative in the mummification process.” — Journal of Apicultural Research

Segmental Market Size

The market for propolis is characterized by a steady growth, which is primarily due to the growing awareness of the benefits of natural health products and the increasing demand for organic ingredients in food supplements and cosmetics. Propolis is one of the most widely used natural products and is increasingly used in the pharmaceutical and cosmetic industry. Furthermore, the regulatory support for natural products in many regions of the world is further enhancing the market demand.

At present, the market for propolis is at its peak. Major companies such as Apis Flora and Herbalife are at the forefront of product development and market penetration. Propolis is used in dietary supplements, cosmetics and in foodstuffs, where it is used primarily for its health-promoting properties. There are also developments in the direction of sustainable development and a clean label. The development of extraction technology has also had a positive influence on the market. These factors all together shape the development of the market, and it is well positioned within the health and well-being market.

Future Outlook

The propolis market is expected to grow at a CAGR of 6% from 2024 to 2032. The demand is driven by the growing awareness of the health benefits of propolis, such as its anti-inflammatory, anti-oxidant, and anti-microbial properties. The propolis market is also gaining from the growing trend of using natural and organic products. As a result, the demand for propolis is expected to increase among consumers of all age groups, especially the health-conscious and aging population that seeks natural remedies.

The propolis market is a new field of development in the pharmaceutical industry, and is characterized by the need for new and better products. This is due to the fact that the extraction and formulation methods are constantly changing, and the products are being made more effective and more bio-available, and therefore more attractive to consumers. This trend is accompanied by a growing regulatory support for natural health products, as governments increasingly recognize the role of herbal supplements in public health. Also, the growth of e-commerce platforms and the growing popularity of personalized nutrition will increase the availability of propolis products, and consequently expand the market. The propolis industry must therefore be flexible and adapt to the changing preferences of consumers and regulatory environment, in order to be able to take advantage of the opportunities presented by the market.