Global Propolis Market is valued approximately USD XX million in 2018 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2019-2026. Propolis, also called bee glue, is a resinous substance obtained from honeybees. It contains active organic chemical compounds such as flavonoids, aromatic acids, amino acids, and essential oils. Propolis is antibacterial, antiviral, antifungal, and anti-inflammatory and, hence, is widely used in treating abscesses and healing wounds. Moreover, propolis is used in the treatment of cancer of the nose and throat due to its anti-tumoral and anticancer properties. In addition to this, propolis extract is widely used in various cosmetic products such as anti-acne soaps and lotions, shampoos, and anti-dandruff conditioners. Surging demand for propolis in healthcare sector and rising demand in cosmetic products is one of the major factors responsible for high CAGR of the market. Rising standards of living among people is the factor that offers growth opportunities. Additionally, increasing prevalence of upper respiratory tract infection and ulcers is contributing towards growth of global Propolis market. Further, escalating utility of propolis considering treatment of chronic diseases which includes tuberculosis and cancer that regulates their demand across various regions. However, propolis can cause allergic reactions to people, particularly who are allergic to bees and bees products is anticipated to hamper the market growth during the forecast period.
The regional analysis of global Propolis market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to increasing demand for the product from healthcare and personal care & cosmetics industries in the region. Europe is also anticipated to grow at significant growth rate in the global Propolis market during the forecast period due to rising consumption of cosmetic product among ladies across the region. Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026 due to increasing utility in beauty products across the region.
Major market player included in this report are:
- Sunyata Pon Lee
- Bee Health Limited
- Herbaland Naturals Inc.
- Natures Goodness
- Propolis People
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
- Food & Beverages
- Personal Care & Cosmetics
- Rest of the World
Furthermore, years considered for the study are as follows:
- Historical year – 2016, 2017
- Base year – 2018
- Forecast period – 2019 to 2026
Target Audience of the Global Propolis Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers