Global Propolis Market Outlook, 2029

The propolis market has a rich history rooted in ancient practices and traditional medicine. Propolis, a resinous substance collected by honeybees from tree buds, has been utilized for centuries for its medicinal properties. Historical records show that ancient Egyptians, Greeks, and Romans used propolis for its healing and antiseptic qualities. The substance was highly valued by Hippocrates and Galen, who praised its use in treating wounds and infections. In traditional Chinese medicine, propolis has been employed for its immune-boosting and anti-inflammatory effects. As the scientific understanding of propolis evolved, so did its market. In the 20th century, advancements in biochemistry and pharmacology led to a deeper exploration of its potential benefits, including its antioxidant, antimicrobial, and anti-cancer properties. This growing body of research fueled the development of propolis-based supplements, cosmetics, and pharmaceuticals, expanding its market reach. The propolis industry is characterized by a diverse range of products, from health supplements to beauty treatments, catering to an increasing demand for natural and holistic health solutions. The market continues to grow as consumers become more aware of the benefits of natural remedies and sustainable products. The propolis market is characterized by a diverse geographical landscape with significant production and consumption across several regions. South America, particularly Brazil and Argentina, is a major producer due to its rich biodiversity and favorable climate for beekeeping. In Europe, countries like Poland, Russia, and Spain play a key role in both production and consumption. The Asia-Pacific region, including China and Japan, shows a growing market driven by traditional medicine practices and increasing health awareness. North America also has a notable market presence, with propolis used in dietary supplements and natural health products. Key players in the industry include Comvita Ltd., known for its high-quality propolis products from New Zealand; Apis Mellifera, focusing on propolis extraction in the U.S.; and Manuka Health, specializing in propolis-based health solutions. Greenwell Farms and Sambucol are also prominent, offering organic and health supplement products. Government regulations across these regions ensure market integrity and consumer safety. In the European Union, propolis products must comply with European Food Safety Authority standards, ensuring substantiated health claims and high-quality production. According to the research report, “Global Propolis Market Outlook, 2029” published by Bonafide Research, the market is expected to reach more than USD 0.6 Billion by 2023.The propolis market is undergoing significant growth, fuelled by an increasing consumer shift towards natural and holistic health solutions, as well as a heightened awareness of the therapeutic benefits associated with propolis. This natural resin, prized for its antimicrobial, antioxidant, and anti-inflammatory properties, is becoming a popular choice in dietary supplements, cosmetics, and pharmaceuticals. Companies in the industry are strategically expanding their product portfolios, investing in advanced research and development, and leveraging new distribution channels to meet the surging demand. This expansion is driven by several key factors, including the growing preference for organic and sustainably sourced products, the rise of self-medication trends, and innovations in propolis extraction and formulation technologies. Regional factors also significantly influence market dynamics, with varying regulatory standards and traditional practices affecting both the availability and quality of propolis. For instance, the European Union enforces stringent regulations on product claims and quality, while North American and Asia-Pacific markets have their own standards for safety and efficacy. Special aspects of the propolis market include the diverse types of propolis found across different regions, such as the unique bioactive compounds present in Brazilian and Chinese propolis, which cater to specific consumer preferences and therapeutic needs. The market also benefits from the traditional use of propolis in various cultures, which continues to drive consumer interest and product innovation. The integration of propolis into advanced cosmetic formulations and its emerging use in high-value pharmaceutical applications highlight the substance’s versatility and potential for future growth.

Market Drivers • Growing Consumer Preference for Natural and Organic Products: The increasing consumer shift towards natural and organic products is a major driver for the propolis market. Consumers are becoming more health-conscious and are seeking products free from synthetic additives and chemicals. Propolis, known for its natural origin and health benefits, fits perfectly into this trend. The resin's natural antimicrobial, antioxidant, and anti-inflammatory properties make it an attractive choice for dietary supplements, cosmetics, and pharmaceuticals. This rising preference is supported by a growing body of research highlighting the health benefits of natural remedies, which boosts consumer confidence in propolis-based products. Companies are capitalizing on this trend by expanding their product lines to include propolis in various formulations, from supplements to skincare products, thereby driving market growth. • Advancements in Extraction and Formulation Technologies: Technological advancements in the extraction and formulation of propolis are significantly driving market expansion. Innovations in extraction techniques, such as advanced solvent extraction and supercritical fluid extraction, have improved the purity and efficacy of propolis. These technologies allow for the isolation of specific bioactive compounds, enhancing the functional properties of propolis in health and cosmetic products. Additionally, developments in formulation technologies enable the creation of more effective and stable propolis-based products. For instance, encapsulation technologies improve the bioavailability and targeted delivery of propolis's active compounds, making them more effective in therapeutic applications. As a result, companies can offer high-quality, potent products that meet consumer expectations, thus driving market growth. Market Challenges

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Manmayi Raval

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• Regulatory and Quality Control Issues: One of the significant challenges facing the propolis market is navigating the complex regulatory landscape and ensuring quality control. Different regions have varying regulations regarding the claims, quality standards, and safety of propolis products. In the European Union, for instance, propolis products must meet stringent guidelines set by the European Food Safety Authority (EFSA) regarding health claims and product safety. Similarly, the U.S. Food and Drug Administration (FDA) imposes regulations on dietary supplements, requiring evidence of safety and efficacy. Companies must ensure compliance with these regulations while maintaining high-quality standards, which can be challenging and resource-intensive. Failure to meet regulatory requirements can lead to product recalls, legal issues, and damage to brand reputation. • Variability in Propolis Quality and Composition: The variability in the quality and composition of propolis is another significant challenge for the industry. Propolis composition can vary widely depending on the geographical location, plant sources, and environmental conditions where bees collect the resin. This variability can impact the consistency and effectiveness of propolis-based products. For example, propolis from different regions may contain varying concentrations of bioactive compounds, leading to differences in therapeutic efficacy. This inconsistency can pose difficulties for manufacturers in standardizing their products and ensuring reliable performance. Additionally, counterfeit or adulterated propolis products can enter the market, further complicating quality control and consumer trust. Market Trends • Increasing Integration of Propolis in Skincare and Cosmetic Products : A notable trend in the propolis market is its increasing integration into skincare and cosmetic products. Propolis's natural antimicrobial and anti-inflammatory properties make it a valuable ingredient in addressing various skin concerns, such as acne, aging, and inflammation. The growing demand for natural and effective skincare solutions has led to a rise in propolis-based formulations in beauty and personal care products. This trend is driven by consumer preferences for clean beauty products that offer therapeutic benefits without synthetic additives. Companies are developing innovative skincare products, including serums, creams, and masks, that leverage propolis's unique properties to enhance skin health and appearance. • Expansion of Propolis-Based Functional Foods and Supplements:The expansion of propolis-based functional foods and dietary supplements is another key trend. As consumers increasingly seek out natural remedies and supplements to support overall health and wellness, propolis is gaining popularity for its potential health benefits. Functional foods and supplements that incorporate propolis are being developed to address various health concerns, including immune support, digestive health, and cardiovascular wellness. This trend is supported by on-going research into propolis's health benefits and its role in traditional medicine. Manufacturers are introducing new products, such as propolis capsules, tablets, and powders, to meet the growing demand for natural health solutions. Additionally, the trend towards personalized nutrition is driving innovation in propolis-based supplements tailored to individual health needs and preferences.

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Based on the report, the product type segment is distinguished into Capsules and Tablets, Liquids, Creams and Other Product Types. The Capsules and tablets are leading in the propolis industry primarily due to their convenience, precise dosage, and widespread consumer acceptance as effective dietary supplements. Capsules and tablets dominate the propolis market largely because they offer a practical and efficient means of delivering standardized doses of propolis, catering to the growing consumer demand for convenient and effective dietary supplements. These forms are favored by consumers for several reasons, primarily their ease of use and accurate dosage control. Capsules and tablets allow for precise measurement of propolis’s active ingredients, which is crucial for maintaining consistency and effectiveness in health benefits. Unlike liquids or creams, which can be subject to variation in dosage and require careful measurement, capsules and tablets provide a straightforward way to ensure that each serving contains a specific, reliable amount of propolis. Capsules and tablets benefit from long-standing consumer familiarity and trust in these formats as dietary supplements. The market for dietary supplements has long been dominated by pills and capsules, making these forms the most recognized and accepted delivery method for many health-conscious consumers. This entrenched consumer preference drives the continued popularity of capsules and tablets in the propolis market. Their solid form also typically has a longer shelf life compared to liquids or creams, which can be sensitive to environmental factors like temperature and light that may affect their stability and potency over time. Another significant advantage of capsules and tablets is their convenience in terms of storage and consumption. They are portable, easy to carry, and can be taken without the need for additional preparation or measurement. This convenience aligns with the fast-paced lifestyles of many consumers who prefer health solutions that fit seamlessly into their daily routines. Capsules and tablets are designed to mask the often strong or unpleasant taste of propolis, which can be a barrier to consumer acceptance. The encapsulation process also helps protect the propolis from oxidation and degradation, ensuring that the active compounds remain potent until consumption. From a manufacturing perspective, capsules and tablets are relatively straightforward to produce on a large scale, making them a cost-effective option for companies in the propolis industry. The technology for producing high-quality capsules and tablets has advanced significantly, allowing for efficient production and quality control processes. This scalability contributes to their widespread availability and affordability, further reinforcing their dominance in the market. Europe is leading in the propolis industry due to its strong regulatory framework, well-established market for natural health products, and a high level of consumer awareness and preference for natural remedies. Europe's dominance in the propolis industry is significantly attributed to its robust regulatory framework, which ensures high standards for product quality, safety, and efficacy. The European Union has stringent regulations governed by the European Food Safety Authority (EFSA) and other regulatory bodies that set rigorous standards for dietary supplements and natural health products. These regulations mandate that propolis products must meet specific criteria for health claims, quality control, and consumer safety. This regulatory rigor helps build consumer trust in propolis products, fostering a well-regulated market where high-quality and effective products can thrive. Europe's well-established market for natural health products provides a strong foundation for the propolis industry. The European market has long been receptive to natural and holistic remedies, reflecting a deep-seated cultural preference for herbal and natural treatments. This cultural inclination towards natural health solutions has created a favorable environment for the growth of the propolis market. European consumers are increasingly seeking products that align with their health and wellness goals, leading to a higher demand for propolis-based dietary supplements, skincare products, and functional foods. The integration of propolis into these product categories caters to this growing consumer interest and supports the market's expansion. Consumer awareness and education also play a crucial role in Europe's leadership in the propolis industry. There is a high level of public knowledge about the benefits of natural remedies, including propolis, supported by both traditional practices and contemporary research. European consumers are well-informed about the therapeutic properties of propolis, such as its antimicrobial, antioxidant, and anti-inflammatory effects, and actively seek out products that offer these health benefits. This heightened awareness drives demand for propolis products and encourages manufacturers to innovate and provide high-quality solutions that meet consumer expectations. Europe benefits from a diverse and well-developed apiculture industry, which supports the production and supply of high-quality propolis. Many European countries, including Poland, Spain, and Italy, have a rich tradition of beekeeping and a favorable climate for honeybee cultivation. This robust apicultural sector contributes to the availability of high-grade propolis, which is essential for meeting the demands of the market. The region's expertise in beekeeping and propolis production ensures a steady supply of quality raw materials, further solidifying Europe's position as a leader in the industry. The European market also sees significant investment in research and development, leading to innovations in propolis extraction, formulation, and application. European companies are at the forefront of scientific advancements, exploring new ways to enhance the efficacy and bioavailability of propolis in various products. This commitment to research and innovation helps maintain Europe's competitive edge in the global propolis market. • In 2023, Comvita Ltd, a trusted source for genuine M?nuka honey, announced the launch of Immune Bee Propolis which contained twice the actives in one daily dose. • In September 2021, Comvita Ltd announced a strategic partnership with Caravan, a joint venture with entertainment and sports agency, Creative Artists Agency (CAA). The new partnership with Caravan will help increase consumer awareness about the benefits of Ma?nuka Honey and Propolis by forming a celebrity-backed lifestyle brand using the natural healing properties of Ma?nuka Honey and Propolis for topical use. • In March 2021, Innovations in Nutrition + Wellness (INW) announced that it had acquired Bee Health, the United Kingdom's leading developer and manufacturer of nutritional supplements. INW and Bee Health's highly complementary product capabilities and geographical scope will further enhance the services provided to brand partners Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Propolis market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product Type • Capsules and Tablets • Liquids • Creams • Other Product Types By Distribution Channel • Offline Retail Stores • Supermarkets/Hypermarkets • Pharmacies and Drugstores • health food stores By Category • Alcohol-based • Alcohol-free By Application • Healthcare • Personal Care & Cosmetics • Food & Beverages • Veterinary The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Propolis industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.