BEE PROPOLIS EXTRACT MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

The global bee propolis extract market size is projected to reach US$ 905.3 million by 2030, from US$ 665.3 million in 2023, at a CAGR of 4.5% during the forecast period 2023-2030.

Propolis is a resinous substance that honeybees collect from tree buds, sap flows, and other plant resins. They use it to seal cracks and gaps in their hives, and to protect the hive from bacteria, viruses, and fungi. Propolis has a variety of health benefits, including antibacterial, antiviral, antifungal, anti-inflammatory, and wound-healing properties. It is also used to treat a variety of conditions, including colds, flu, allergies, and respiratory infections.

Bee Propolis Extract Market Regional Insights

• North America is the largest market for bee propolis extract, accounting for a market share of over 33% in 2021. The high demand for bee propolis extract in this region is driven by the increasing awareness of its health benefits, such as its ability to boost the immune system, fight infections, and reduce inflammation. The United States is the largest market for bee propolis extract in North America, followed by Canada.
• Europe is the second largest market for bee propolis extract, accounting for a market share of over 25% in 2021. The increasing demand for natural and organic products is driving the growth of the bee propolis extract market in this region. Germany, France, and the United Kingdom are the major markets for bee propolis extract in Europe.
• Asia-Pacific is the third largest market for bee propolis extract, accounting for a market share of over 20% in 2021. The growing demand for natural health products and dietary supplements is driving the growth of the bee propolis extract market in this region. China, India, and Japan are the major markets for bee propolis extract in Asia-Pacific.

Figure 1. Global Bee Propolis Extract Market Share (%), by Region, 2023

Bee Propolis Extract Market Drivers

• Medicinal Benefits: Propolis is renowned for its antimicrobial, anti-inflammatory, and antioxidant properties. It has been traditionally used to treat wounds, burns, and other skin conditions, and modern research has supported many of these applications.
• Cosmetic Industry: With the growing interest in natural and organic skincare products, propolis extract is finding increased use in the cosmetic industry. Its antimicrobial and anti-inflammatory properties make it a sought-after ingredient in skincare formulations, especially those targeting acne-prone skin.
• Dietary Supplements: Propolis is increasingly being used in dietary supplements due to its potential health benefits, including boosting the immune system, fighting infections, and improving oral health.
• Natural and Organic Trend: The global shift towards natural, organic, and sustainable products has elevated the demand for bee-derived products, including propolis.

Bee Propolis Extract Market Opportunities

• Expansion in Emerging Markets: As more emerging economies become aware of the benefits of natural health products, there's an opportunity for the expansion of bee propolis extract products in regions like Southeast Asia, Latin America, and parts of Africa.
• Innovative Product Development: Combining propolis with other health-beneficial ingredients in new product formulations can create unique and high-demand products. This can range from skincare products to functional beverages and beyond.
• E-commerce and Direct-to-Consumer Platforms: With the rise of online shopping, especially post-pandemic, businesses can leverage e-commerce platforms to reach a wider audience, including international customers.
• Sustainability Initiatives: Given concerns about bee populations and the environment, companies that focus on sustainable sourcing and eco-friendly packaging could find a niche in the market. Certifications and transparent supply chains can further boost consumer trust.

Bee Propolis Extract Market Trends

• Natural and Organic Skincare: With the rise of the clean beauty movement, consumers are gravitating towards natural and organic skincare products. Bee propolis extract, due to its beneficial properties for the skin, has been a trending ingredient in skincare formulations, particularly those addressing issues like acne, inflammation, and skin aging.
• Rise in Functional Foods: There has been a notable increase in the demand for functional foods and beverages – those which provide health benefits beyond basic nutrition. Propolis-infused drinks, snacks, and even candies have been gaining traction.
• Personalized Health and Wellness: As consumers become more educated about their health needs, there's a trend towards personalized health and wellness solutions. Propolis-based products that cater to specific health concerns, age groups, or lifestyles are in demand.
• Sustainable and Ethical Sourcing: Sustainability is not just a buzzword but a real concern for many consumers. Brands that promote ethical sourcing of propolis and support bee populations are viewed more favorably, and this trend is only growing.

Bee Propolis Extract Market Restraints

• Supply Chain Fluctuations: Due to the various challenges faced by bee populations worldwide, including colony collapse disorder, pesticides, and habitat destruction, there can be fluctuations in the availability of propolis, affecting its supply chain.
• Regulatory Hurdles: Different countries have varying regulations for natural products and dietary supplements. Meeting these regulatory requirements can be challenging, especially when marketing products internationally.
• Standardization Issues: Unlike synthetic compounds, natural products like propolis can vary in their composition depending on their source. This variation makes standardization difficult, which can be a concern for both therapeutic applications and consistent product quality.
• Potential Allergenic Reactions: Some individuals might be allergic to components found in propolis. This can limit its applicability in certain products or require rigorous testing and labeling.

Recent Developments

New product launches

• Comvita Propolis Mouthwash. This mouthwash is made with 100% New Zealand propolis extract and is clinically proven to kill 99.9% of plaque-causing bacteria. It also helps to freshen breath and reduce inflammation.
• Nature's Way Propolis Throat Spray. This spray is made with a blend of propolis extract, zinc, and vitamin C. It helps to soothe a sore throat, relieve coughs, and boost the immune system.
• Solgar Propolis Liquid. This liquid is made with 100% pure propolis extract and is suspended in a base of vegetable glycerin. It can be taken orally or applied topically to the skin.

Acquisition and partnerships

• In 2022, BeeZing acquired Bee Botanics, a leading supplier of bee propolis extract. This acquisition will help BeeZing to expand its product offerings and reach a wider audience.
• In 2021, NutraBio partnered with Beekeeper's Naturals to launch a new line of bee propolis products. This partnership will help NutraBio to expand its presence in the bee propolis extract market.
• In 2020, Solgar acquired Nature's Way, a leading manufacturer of natural health products. This acquisition will help Solgar to expand its bee propolis extract product offerings.

Figure 2. Global Bee Propolis Extract Market Share (%), by Packaging type, 2023

Top companies in Bee Propolis Extract Market

• Comvita
• Bee Health
• Natural Life
• Manuka Health New Zealand
• Zhifengtang
• Wang’s
• Bricaas
• Baoshengyuan
• Zhonghong Biological
• Baoshengyuan

*Definition: Bee Propolis Extract market refers to the industry surrounding the extraction, processing, and sale of propolis, a resinous substance collected by honeybees from tree buds and used for its antibacterial, antiviral, antifungal, and anti-inflammatory properties, commonly found in health products, cosmetics, and supplements.