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| Propolis Market |
Propolis is a resinous mixture collected by honey bees from various plant sources, mainly poplar and conifer buds, and used in the construction of beehives. Propolis is known for its antimicrobial, anti-inflammatory, antioxidant, and wound-healing properties. It is commonly used in various dietary supplements, topical creams, mouthwashes, cough syrups, and other healthcare products. Growing consumer awareness about the health benefits of propolis is expected to drive the demand for propolis products such as dietary supplements, cosmetics, and pharmaceuticals.
The global
Propolis Market is estimated to be valued at US$ 707.73 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
The use of propolis in natural health supplements has witnessed a significant
growth owing to rising consumer preference for herbal and natural remedies over
synthetic medicines. Factors such as the COVID-19 pandemic, growing millennial
populace, and increasing research validating the health benefits of propolis
are propelling the demand for natural health products containing propolis
extract. The key active components of propolis such as polyphenols, flavonoids,
and phenolic acids are known to exhibit potent antioxidant and
anti-inflammatory properties. Research studies have indicated the potential of
propolis in supporting immune health, joint health, liver health, and digestive
health. Owing to the multi-functional attributes of propolis, its demand from
the dietary supplements, pharmaceutical, nutraceuticals, and cosmetic
industries is expected to rise remarkably over the forecast period.
Segment Analysis
The global propolis market is dominated by the food & beverage segment.
Propolis is widely used in the food & beverage industry for its
antibacterial, antioxidant properties and health benefits. It finds application
in nutritional supplements, functional drinks and other products. The medicinal
segment is expected to witness high growth during the forecast period.
Increasing demand for natural remedies and medications is driving the growth of
the medicinal segment.
Key Takeaways
The global Propolis
Market Growth is estimated to be valued at US$ 707.73 Mn in 2023 and is
expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030.
Regional analysis: The Asia Pacific region holds the largest share in the
global propolis market and is expected to witness the highest growth during the
forecast period. China, India, Japan, South Korea and other developing
countries are the major consumers of propolis in the region. Increasing health
awareness and rising disposable income levels are driving the demand for
propolis products in Asia Pacific.
Key players: Key players operating in the propolis market are Baxter
International Inc., Fresenius SE & Co. KGaA, CSL Limited, Grifols, S.A., B.
Braun Melsungen AG, Hikma Pharmaceuticals PLC, Octapharma AG, Kedrion S.p.A.,
Shanghai RAAS Blood Products Co., Ltd., Terumo Corporation, JW Life Science,
Celgene Corporation, Pentapharm Ltd., Haemonetics, Corporation, Macopharma.
Baxter International, CSL Limited and Grifols are some of the leading players
in the global propolis market. Baxter offers propolis extracts for use in
nutritional and healthcare products. CSL focuses on research and development
activities to explore new applications of propolis. Grifols sells propolis
products through various brands for immunity support and overall wellbeing.
For more insights, read- https://www.ukwebwire.com/propolis-market-trends-size-and-share-analysis-2/
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