Market Research Report
Propolis Market - Growth, Trends and Forecast (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||922168|
|Published||Content info||100 Pages
Delivery time: 2-3 business days
|Propolis Market - Growth, Trends and Forecast (2020 - 2025)|
|Published: April 1, 2020||Content info: 100 Pages||
The global propolis market is projected to grow at a CAGR of 5.63% during the forecast period.
The global propolis market is segmented by form into capsules, sprays, and extracts. By Alcohol Content, the market is divided into alcohol-containing and alcohol-free propolis. Based on application, the propolis market is differentiated by the use of food and beverages, healthcare, and personal care and cosmetics industries. The market is further segmented by geography.
Propolis is the New Alternative Income Source for Beekeepers
In addition to honey, bees also produce propolis, also known, bee glue by mixing saliva and beeswax with exudate gathered from tree buds, sap flows, or other botanical sources. Propolis is antibacterial, antiviral, antifungal, and anti-inflammatory. and is thus used in traditional medicine treating abscesses and healing wounds. Owing to the rising demand due to multiple benefits, beekeepers have got an opportunity to come up with a unique revenue source, propolis production. For example, Siirt Beekeepers' Association from Turkey has set up a project for the production, processing, and marketing of propolis, pollen, and royal jelly in order to boost up the revenue as one kilogram of propolis is sold at TRY 200 (almost USD36).
Asia Pacific is the Most Rapidly Growing Propolis Market
China is the largest consumer of propolis and hence the competitive platform for propolis-based products is also vast. There are numerous players, both small and large who are extracting propolis, for commercial use in different industrial purposes. Seaweed evolved as a unique source of propolis extraction after the large-scale commercialization. In present times, propolis is being domestically produced in China and is widely used as a component for cosmetic products and herbal treatments. Other countries of the Asia Pacific like Japan and India have also realized the benefits of propolis and have started including it in the products.
The use of propolis is taking place at an enlarged scale since the disclosing of associated healthcare benefits. The manufacturers from countries like Brazil, New Zealand, China, Russia, and Turkey are introducing the extraction of propolis at industrial scale and the products are visible in the market in the form of capsules, sprays, and extracts. The major players of the market are Comvita, Wax Green, Apis Flora, Apiario Polenectar, and MN Propolis.