Propolis market industry- Global Market Trajectory & Analytics
Global Propolis Market is segmented by Product Type (Capsules and Tablets, Liquids, Creams, and Other Product Types), by Distribution Channel (Offline Retail Stores and Online Retail Stores), and by Geography.
Market Research Future (MRFR) asserts that the global propolis market is anticipated to demonstrate a healthy CAGR during the forecast period (2021-2027) owing to its augmenting demand in the healthcare sector. Also termed as bee glue, propolis is referred to as a resinous substance which is generally obtained from honeybees and contains active organic chemical compounds like essential oils, flavonoids, amino acids, and aromatic acids. Being antiviral, antibacterial, anti-inflammatory, and antifungal, propolis is extremely used to treat abscesses and heal wounds.
The prominent players operating the global propolis market are Bee Health Limited (UK), B Natural SRL (Italy), Pharma Base SA (Switzerland), Comvita (New Zealand), Herbaland Naturals Inc. (Canada), Laprell's Beehive Products Inc. (Canada), the Propolis People (South Africa), Hi-Tech Natural Product India Ltd (India), Natures Goodness (Australia), Shaanxi Rebecca Bio-Tech Co. Ltd (China), Arataki Honey Ltd (New Zealand)
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The global propolis market has been segmented on the basis of application and end-use industry.
By mode of application, the global Propolis market industry has been segmented into preservative, antioxidant, haircare, skincare, medical, and others.
By mode of end-user industry, the global Propolis market industry has been segmented into food & beverage, healthcare, personal care & cosmetics, and others. Among these, the healthcare and personal care & cosmetics segment occupies a significant share in the global market. While in the healthcare sector, propolis is extensively used to treat cancer and other chronic diseases, the product is used to make several cosmetic products such as lotions, anti-acne soaps, shampoos, and anti-aging products in the personal care & cosmetics segment.
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Geographically, the propolis market span across regions namely, North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa.
The Asia Pacific region is anticipated to expand at the highest growth rate owing to the augmenting demand for propolis in the healthcare sector. Moreover, the increasing use of propolis in several beauty products along with the accelerating demand for personal care products is likely to foster the market growth in this region. Additionally, the presence of nations such as China, Japan, Singapore, South Korea, and India are aiding the market growth in the coming years.
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