Propolis Market: Current Analysis and Forecast (2022-2028)

The global propolis market is expected to grow at a significant rate of around 6% during the forecast period. Propolis is a generic name for a mixture of resinous substances collected by honeybees from parts of plants, buds, and exudates in the north temperate zone. Propolis contains an enormous number of mixtures that explain a few biological effects that boost up the healing system and are generally utilized in people's cures. Moreover, propolis and its mixtures have been the focal point of many works because of their antimicrobial and anti-inflammatory activity; however, there is a rising interest in the healing potential of natural products, considering the accessibility and minimal expense of these items. Furthermore, ointments that contain 3 percent propolis, such as Herstat or Coldsore-FX, may help speed healing time and reduce symptoms in both cold sores and sores from genital herpes. For instance, as per WHO, an estimated 3.7 billion people under the age of 50 (67%) have HSV-1 infection globally.

Hi-Tech Natural Product India Ltd., Manuka Health, Wax Green, Laprell's Beehive Products, Bee Health Limited, Sunyata Pon Lee, Apis Flora, Evergreen Healthfoods Ltd., Polenectar, Comvita Limited. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.s

Insights Presented in the Report:

"Amongst application, healthcare category to witness robust CAGR during the forecast period"

Based on application, the market is segmented into food and beverages, healthcare, personal care and cosmetics, and others. Among these, the healthcare category is to witness considerable growth during the forecast period owing to the growing cases of cold sores genital herpes, cancer, diabetes, swelling, and sores inside the mouth. These factors are driving the growth rate of the market during the forecast period. For instance, according to the National Institutes of Health (NIH), in 2020, an estimated 34.2 million people have diabetes and around 26.9 million people of all ages have been diagnosed with diabetes.

"Amongst distribution channel, the online stores to hold a significant share in the market in 2020"

On the basis of distribution channel, the market is categorized into supermarkets and hypermarkets, pharmacies and drugstores, online stores, and others. Among these, the online stores to hold a significant share in the market in 2020. This is mainly due to the rising use of online platforms to buy any medicinal products, increasing cosmetic procedures such as wrinkle reduction, and reduction of any type of scarring to look better which propels the growth of the propolis market during the forecast period.

"North America to hold a significant share in the market"

For a better understanding of the market adoption of the Insulin pump industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the rise in disposable income and increasing cases of cancer, which are further expected to accelerate regional market growth in this region. Furthermore, the U.S. is among the top leading countries that have the highest cases of genital herpes and other herpes viruses. For instance, as per CDC, there were 572,000 new genital herpes infections in the United States in a single year. Nationwide, 11.9 % of persons aged 14 to 49 years have HSV-2 infection.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

• The report presents a quick review of overall industry performance at one glance.

• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.

• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

• The study comprehensively covers the market across different segments.

• Deep dive regional level analysis of the industry.

Customization Options:

The global propolis market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.