Propolis is a resin-like material produced by bees that is collected from tree buds, sap flows, or other botanical sources and combined with beeswax and bee saliva as their sealant in their hives. Propolis has been used in traditional medicine for its pharmacological activities including anti-inflammatory, antioxidant, antimicrobial, immunomodulatory and wound healing properties. Due to its antimicrobial properties, propolis has been primarily used in items like lip balms, hand creams and other medicinal ointments.
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 Opportunity:
The opportunity of use in treating various diseases is expected to drive growth of the propolis market over the forecast period. Propolis has been found to have anti-inflammatory and antimicrobial properties that can help in treating diseases like inflammatory bowel disease, gastritis, duodenitis among others. Research studies have shown that propolis can help fight infections and support immune functions. With growing prevalence of various diseases, demand for alternative treatment options extracted from natural sources is on the rise. Propolis being a natural product extracted from bees has gained popularity for its use in various disease treatments. This is expected to significantly contribute to the growth of the propolis market globally during the forecast period.
Porter's Analysis
Threat of new entrants: The propolis market has significant barriers of entry due to requirement of specialized infrastructure, equipment and expertise for extraction and processing of propolis.
Bargaining power of buyers: The bargaining power of buyers is moderate as the market has presence of many established brands and product formulations.
Bargaining power of suppliers: The bargaining power of suppliers is high as raw material propolis is an agricultural commodity and subject to changes in climatic conditions affecting supply.
Threat of new substitutes: There is low threat from substitutes as propolis has unique properties for various medicinal and dietary supplement applications.
Competitive rivalry: The competitive rivalry is high among the key global players operating in the propolis market.
SWOT Analysis
Strength: Propolis has high anti-microbial, anti-inflammatory and antioxidant properties supporting various health applications.
Weakness: Standardization and quality control of raw propolis extracts can vary based on source and extraction methods employed. Lack of clinical research data for new applications.
Opportunity: Increasing consumer preference for natural ingredients in food and cosmetic products presents an opportunity. Emerging markets like Asia Pacific and Latin America offer high growth potential.
Threats: Stringent regulatory norms and certifications required to substantiate health claims of propolis products. Substitute natural ingredients threaten market shares.
Key Takeaways
The global Propolis Market Growth is expected to witness high growth due to increasing applications in food and dietary supplements, personal care and cosmetics industries. The market size for 2023 is US$ 707.73 Mn and forecast to reach US$ 1,201.87 Mn by 2030 at a CAGR of 6.7% during the forecast period from 2023 to 2030.
Regional analysis indicates Europe accounts for the largest share currently due to large production and consumption of propolis products in countries like Germany, France, Italy and Greece. Asia Pacific is expected to dominate market growth owing to rising health-conscious consumer base in major economies like China, India and Japan.
Key players operating in the propolis market include 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. These players are focused on new product launches, partnerships and geographic expansions to strengthen market presence.
For more insights, read- https://www.newsanalyticspro.com/propolis-market-trends-size-and-share-analysis/
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Propolis Market Research Report" by requesting FREE Sample Copy athttps://www.valuemarketresearch.com/contact/propolis-market/download-sampleMarket DynamicsDemand for propolis will keep on rising due to its multiple health benefits.
Propolis is researched for several studies, particularly the effectiveness of propolis against bacterial pathogens.
Many health benefits derived from propolis have been pointed out and are still further studied for more potential.
Favorable results from studies will create opportunities for the propolis market.
Despite being a product of value, it's used is significantly neglected by some parts, which is restraining the market's growth.
