PROPOLIS MARKET ANALYSIS

Market Size and Trends

The global propolis market is estimated to be valued at USD 683.5 Mn in 2024 and is expected to reach USD 806.9 Mn by 2031, growing at a compound annual growth rate (CAGR) of 2.4% from 2024 to 2031.

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Propolis is used extensively in various industries like food and beverages, personal care & cosmetics, and pharmaceuticals. The increasing awareness about the health benefits of propolis is driving the market growth. The demand for propolis is increasing globally due to growing consumer awareness regarding the health benefits offered by propolis. The increasing use of propolis in various applications like functional foods, dietary supplements, personal care products, etc. is expected to boost the market growth. The booming nutraceuticals industry and rising adoption of natural and herbal ingredients in food and cosmetics are some key factors that are expected to support the demand for propolis. However, stringent regulations regarding the use of propolis may hamper the market growth.

Natural health trends increasing demand for propolis

The last few decades have witnessed an increasing shift of consumer preference towards natural and herbal products for health and wellness. With growing health consciousness, people are opting for foods, supplements, or remedies which are derived from natural sources without any synthetic chemicals or additives. Moreover, as science continues to validate the various healing properties of natural ingredients used in traditional medicines, public trust in such natural remedies has been rising. Propolis falls under this category of natural health products, as it possesses antibacterial, antiviral, and anti-inflammatory properties to support immunity and overall well-being. With its enriched composition of resins, essential oils, pollen, and other compounds collected by bees from tree buds and bark, propolis is now recognized to have therapeutic benefits. As consumers are increasingly demanding natural ways to boost health and fight diseases with minimal side effects, the use of propolis as a supplementary natural medicine is rising. Specialized propolis extract formulations are now available in the form of dietary supplements, ointments, and lozenges which consumers can incorporate in their daily routines to benefit from its medicinal properties. This driver towards natural remedies for promotion of health is playing an important role in augmenting the demand for propolis extracts worldwide.

Market Concentration and Competitive Landscape

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The use of propolis in food and beverage products is expected to gain significant traction in recent times owing to its numerous health benefits. Propolis is a resinous material that honey bees collect from tree buds, sap flows, or other botanical sources and use as a sealant in their hives. It has high nutritional value and contains over 300 constituents including phenolic compounds, essential oils, amino acids, and minerals.  Propolis is increasingly being used in various food and beverage products like dietary supplements, functional foods, and beverages for its antioxidant, antimicrobial, and anti-inflammatory properties. Many consumers are opting for such products for their perceived ability to boost immunity and protect against diseases. For example, a 2020 study published in the European Journal of Nutrition found that propolis supplementation for 4 weeks modulated human gut microbiota composition by selectively enriching commensal bacteria and reducing pathogen loads. This has prompted several supplement and functional food companies to introduce propolis-based products. Beverage companies are also incorporating propolis extracts into various beverages like juices, tea, and coffee to cater to the consumer demand for healthy yet tasty beverages. According to statistics by the Food and Agriculture Organization (FAO) in 2020, the global honey production grew by over 17% between 2015 and 2020, indicating rising interest in bee-sourced products. This upward trend along with growing health consciousness post-COVID-19 is expected to drive stronger demand for propolis in years to come. Researchers are studying additional health benefits of propolis which could further expand its application in various food forms.

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Fluctuations in raw material supply and prices have created uncertainties that are restraining the growth of the global propolis market. Propolis is a resinous material collected by honeybees from tree buds and sap flows. Its availability depends highly on climatic and environmental conditions which have become more volatile in recent years. Due to rising global temperatures caused by climate change, bees have to travel longer distances to find appropriate tree sources, impacting the propolis yield. Droughts and unpredictable weather patterns in different parts of the world like Brazil, which is a major propolis producer, have disrupted the harvest. This directly impacts the supply availability for the beekeeping and propolis extraction industry.

Opportunities: Rising consumer preference for natural and herbal products

Consumer preference for natural and herbal ingredients in food and cosmetic products has been steadily increasing in recent years. According to the Organic Trade Association's 2022 Manufacturer Survey, the sales of organic food and non-food products in the U.S. grew by 15% in 2021, reaching USD 62.5 billion. This growth has been driven by health and sustainability concerns among consumers. More people now want products that are free of synthetic chemicals, preservatives and other artificial ingredients. They are actively seeking out goods containing natural herbs, plant extracts and beeswax like propolis, which is known for its antimicrobial and anti-inflammatory properties.

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Capsules and tablets represent the largest product type segment in the global propolis market due to several key advantages they offer consumers. This segment is expected to account for 62.3% of the market share in 2024. As a solid oral dosage form, capsules and tablets are highly portable and easy for consumers to carry with them throughout the day. Their compact size means they take up little room in pillboxes, bags, or pockets. This convenience factor is important for busy, on-the-go lifestyles. Capsules and tablets also provide reliable and consistent dosing compared to liquid formulations. The exact amount of active ingredients is tightly controlled within each dose. This dosing precision gives consumers confidence they are receiving the proper quantity to achieve the intended health benefits. Liquids can sometimes involve messy droppers or require measuring teaspoons that introduce margins of error. With capsules and tablets, there is no question of how much propolis is being consumed per recommended serving. Their solid form also gives capsules and tablets a longer shelf life than liquids before expiring. Without needing preservatives often found in liquids, capsules and tablets can stay fresh sealed in bottles or blister packs for extended periods. This longevity allows retailers to keep products in stock for longer before replacing inventory. It also gives consumers flexibility to purchase supplies that can be stored until needed rather than worrying about a liquid spoiling before finishing the bottle.  Popularity of capsule and tablet dosage forms for general health supplements also boosts this segment. Consumers already familiar with taking vitamins, minerals, and other similar products in pill or capsule form view them as the default delivery mechanism. This existing preference and familiarity carry over when considering propolis supplements as well, driving greater demand compared to less common forms like liquids or creams. As the established standard, capsules and tablets will continue capturing the leading share within the propolis product type segment for the foreseeable future.

Insights by Distribution Channel: Retail Stores Represents the Leading Distribution Channel Due to Convenience and Options for Browsing Products

Within the distribution channel segment of the global propolis market, retail stores is expected to account for 61.3% of the market share in 2024. Their dominance stems from innate advantages in purchasing experience compared to alternative channels like online or direct seller models.  Foremost, retail stores allow consumers to conveniently evaluate products in-person before buying. Being able to inspect packaging, read ingredient listings and nutrition facts up close, and sometimes sample offerings gives shoppers more confidence in their selection. This hands-on browsing experience is not replicated through online or catalog shopping. Seeing and touching products stimulates additional sensory feedback that helps consumers connect more personally with items that seem suitable for their needs. Retail stores also stock a variety of brands and types of propolis supplements from which to choose. Consumers benefit from being able to compare multiple options side-by-side to identify characteristics like flavor profiles, dose amounts, Certified Organic status, and country of origin. This side-by-side competition and range of merchandise helps drive prices lower as companies offer promotional discounts and deals to entice shoppers in highly congested aisles.  Proximity is another convenience factor. For impulse or emergency purchases, local drug stores, grocery outlets, and health food shops allow for same-day fulfillment without shipping delays. When immediate accessibility or a supplement need arises unexpectedly, retail stores provide a vital solution. This instant gratification keeps their share highest despite growing options through e-commerce and direct channels over time. Overall, retail stores' immersive shopping experience and advantages in product selection, price competition, immediacy and impulse buying continue serving as the preferred purchasing method for propolis supplements globally. Their customer-centric qualities protect this distribution segment's strong leadership role.

Regional Insights

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Europe has been the dominant region in the global propolis market for decades due to strong consumer preference and high industrial application across various sectors like food and beverages, personal care, and pharmaceuticals. This region is expected to account for 37.8% of the market share in 2024. Countries like Germany, France, Italy, and Spain have witnessed robust demand for propolis owing to increasing consumer awareness about its antioxidant and anti-inflammatory properties. The food and beverage industry in Europe utilizes propolis as a prominent ingredient in functional drinks, supplements, and various health products. Additionally, the well-established personal care industry sees propolis as a key component in skin and hair care products for its anti-aging benefits.  The pricing of propolis in Europe has historically been on the higher side compared to other regions due to certifications like organic and costs associated with extraction techniques focusing on purity and efficacy. However, imports of raw propolis from countries like Brazil and China in recent years have made the prices more competitive. European small and medium enterprises have also enhanced extraction capabilities to cater to the growing industrial demand. This has solidified Europe's leadership position in the global market.

The Asia Pacific region has emerged as the fastest growing market for propolis in the last five years, driven majorly by countries such as China, India, Japan, and South Korea. In China, traditional medicine practices have boosted consumption while increasing disposable incomes have lifted spending on premium health and wellness products containing propolis. This has made China one of the leading importers of raw propolis globally. Meanwhile in India, rising health consciousness and initiatives by government and private players to promote natural remedies are fueling demand beyond metros into tier 2 and 3 cities. Countries like Japan and South Korea have witnessed a spike in usage of propolis among working professionals who prefer natural ingredients-based energy and immunity drinks. Additionally, thriving cosmetic industry coupled with growing preference for herbal ingredients is a key factor driving the demand. Overall initiatives to promote traditional remedies along with economic development is transforming the Asia Pacific region into an important market for propolis over the coming years.

Market Report Scope

Key Developments

• In January 2024, ApiotiX Technologies, a Croatia-based biotechnology R&D company, launched a propolis-based skincare ingredient. The ingredient is a pharmaceutical-grade phenolic acid polymer extract derived from propolis, which is known for its antimicrobial, antioxidant, and anti-inflammatory properties.
• In 2021, Comvita partners with celebrity brand promoter Caravan
• In 2021, Innovations in Nutrition + Wellness (INW) announced that it had acquired Bee Health, a leading UK-based manufacturer and developer of nutritional supplements
• In 2021, Comvita, global market leader in Mānuka honey, has today announced the official opening of its state-of-the-art Wellness Lab experiential space in the Viaduct, Auckland

*Definition: The global propolis market is a market consisting of companies that are engaged in the production, processing, and distribution of propolis on a global scale. Propolis is a resinous mixture that honey bees collect from tree buds, sap flows, or other botanical sources that is used as a sealant for unwanted open spaces in hives. It is known for its antimicrobial properties and is used in various food and cosmetic products as well as dietary supplements.

Market Segmentation

•  Product Type Insights (Revenue, USD Mn, 2019 - 2031)
  • Capsules and Tablets
  • Liquids
  • Creams
  • Other Product Types
•  Distribution Channel Insights (Revenue, USD Mn, 2019 - 2031)
  • Retail Store
  • Online
  • Others 
• Regional Insights (Revenue, USD Mn, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC Countries
    • Israel
    • Rest of Middle East & Africa
• Key Players Insights
  • MN Propolis
  • Comvita Limited
  • API Health
  • B Natural
  • Bee Health Limited
  • Wax Green
  • Zhifengtang Pharmaceutical Co. Ltd.
  • Ponlee
  • Ponlee Bee
  • Sunyata Pon Lee Bee
  • Zhonghong Biological Group Co., Ltd.
  • Bee & Health Co. Ltd.
  • Honey Pacifica
  • Honey Gardens
  • Beekeeper's Naturals
  • Beehive Botanicals Inc.
  • Durham's Bee Farm
  • Y.S. Eco Bee Farms
  • Royal Jelly Australia
  • NaturaNectar LLC.