Propolis Market by Application and Geography - Global Forecast and Analysis 2019-2023

Propolis Market by Application and Geography - Global Forecast and Analysis 2019-2023

Global Propolis Market: About this market

Technavio’s propolis market analysis considers sales from healthcare, personal care and cosmetics, and food and beverages. Our analysis also considers the sales of propolis in APAC, Europe, North America, South America, and MEA. In 2018, the healthcare segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as antifungal, antibacterial, and antioxidative nature of propolis will play a significant role in the healthcare segment to maintain its market position. Also, our global propolis market report looks at factors such as health benefits of consuming propolis, availability of propolis dietary food supplements, and growing preference for online shopping. However, uncertainties in the declining number of honeybee colonies, improper storage facilities may lead to decomposition of propolis-based products, and adulteration of propolis products may hamper the growth of the propolis industry over the forecast period.

Global Propolis Market: Overview

Health benefits of consuming propolis

The anti-viral, anti-bacterial, anti-fungal and anti-inflammatory properties of propolis compositions make it ideal for use in healthcare products. Propolis is a vital ingredient in many healthcare products as it offers protection from bacteria, viruses, and fungi due to its properties. Propolis helps to improve blood sugar levels, reduces pain from cold sores, treats minor burns, and prevents skin infections and gum diseases. The easy availability of products containing propolis extracts will lead to the expansion of the global propolis market at a CAGR of almost 5% during the forecast period.

Increase in research activities to enhance propolis production in beehives

Beekeepers have undertaken several research activities to enhance the production of propolis. In November 2018, a team of researchers and beekeepers conducted a research study in the US to experiment with four diverse ways of enhancing propolis production in beehives. The team observed propolis growth on four wall surfaces - plastic trap material on the interior of hive wall, parallel saw cuts on the interior of hive wall, a brush-roughened hive wall interior, and an unmodified hive wall interior. Such researches and studies are likely to introduce new methods to encourage resin deposits in the bee product industry. This development is expected to have a positive impact on the overall market growth.

For the detailed list of factors that will drive the global propolis market during the forecast period 2019-2023, click here.

Competitive Landscape

With the presence of several major players, the global propolis market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading propolis manufacturers, that include Apiário Polenectar, Apis Flora, Bee Health Ltd., Comvita Ltd., Nature's Goodness.

Also, the propolis market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.