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Propolis Market by Application and Geography - Forecast and Analysis 2022-2026

  • Published: Aug 2022
  • Pages: 135
  • SKU: IRTNTR71788
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The propolis market share is expected to increase by USD 61.06 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.29%.

This propolis market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers propolis market segmentation by application (healthcare, personal care and cosmetics, and food and beverages) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The propolis market report also offers information on several market vendors, including Apis Flora Industrial e Comercial Ltda., Bio Botanica Inc., California Gold Nutrition, Comvita Ltd., Country Life Vitamins LLC, Fytexia SAS, Herb Pharm LLC, Hi Tech Natural Products India Ltd., iHerb LLC, INW Manufacturing LLC, Laprell Beehive Products Inc., Manuka Health New Zealand Ltd., Natural Factors Nutritional Products Ltd., NaturaNectar LLC, Natures Goodness Australia Pty Ltd., NOW Health Group Inc., Nutraceutical Corp., SDM Nutraceuticals Inc., Sunyata Productos Alternativos Ltda., Uniflora Nutraceutica Ltda., Wax Green USA, and YS Organic Bee Farms among others.

What will the Propolis Market Size be During the Forecast Period?

Propolis Market Size

Download Report Sample to Unlock the Propolis Market Size for the Forecast Period and Other Important Statistics

 

Propolis Market: Key Drivers, Trends, and Challenges

The health benefits of consuming propolis is notably driving the propolis market growth, although factors such as the declining number of honey bee colonies may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the propolis industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Propolis Market Driver

The health benefits of consuming propolis is one of the key drivers fueling the propolis market growth. Propolis compositions exhibit anti-viral, antifungal, antibacterial, and anti-inflammatory properties and offer protection from some bacteria, viruses, and fungi. Moreover, regular application of propolis-based products, such as propolis cream, on the skin helps prevent infections and treats minor burns. Other benefits of consuming propolis include improved immune response and prevention from inflammation, infections, nose and throat cancer, intestinal disorders, ulcers, and tuberculosis. Such health benefits will drive the consumption of propolis in the forecast period.

Key Propolis Market Trend

An increase in research activities to enhance propolis production in beehives is one of the key propolis market trends propelling the market growth. For instance, in November 2020, a team of researchers and beekeepers conducted a research study in the US to experiment with four different ways of enhancing propolis production in beehives. The team observed propolis growth on four wall surfaces - plastic trap material on the interior of the hive wall, parallel saw cuts on the interior of the hive wall, a brush-roughened hive wall interior, and an unmodified hive wall interior. The outcomes revealed that any treatment to the hive interior could increase propolis deposition significantly compared with an unmodified hive wall interior. Of the three treated hive walls, the brush-roughened hive wall proved to be an effective wall surface to boost propolis and accumulate high deposition. Such, increased research activities to enhance propolis growth in beehives are expected to improve the production of raw propolis and propolis-based products during the forecast period.

Key Propolis Market Challenge

The declining number of honey bee colonies is one of the factors limiting the propolis market growth. Globally, the number of honey bee colonies is declining at a considerable rate. The decline was a result of factors such as natural disasters and the impacts of weather conditions, which have limited the production of bee products, such as propolis extracts, in many countries, particularly in Europe. Moreover, colonies with fewer than ten honey bee and larvae frames are less robust and are subjected to cold stress, as they cannot maintain the temperature in the hive. Transporters shipping honey bee colonies are concerned about the overheating of colonies, which can rapidly damage honey frames and lead to a reduced number of honey bee colonies. In terms of volume production, the declining number of honey bee colonies is likely to pose a challenge for the global propolis market during the forecast period.

This propolis market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global propolis market as a part of the global packaged foods and meats under the global food products segment of the global food, beverage, and tobacco market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the propolis market during the forecast period.

Who are the Major Propolis Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Apis Flora Industrial e Comercial Ltda.
  • Bio Botanica Inc.
  • California Gold Nutrition
  • Comvita Ltd.
  • Country Life Vitamins LLC
  • Fytexia SAS
  • Herb Pharm LLC
  • Hi Tech Natural Products India Ltd.
  • iHerb LLC
  • INW Manufacturing LLC
  • Laprell Beehive Products Inc.
  • Manuka Health New Zealand Ltd.
  • Natural Factors Nutritional Products Ltd.
  • NaturaNectar LLC
  • Natures Goodness Australia Pty Ltd.
  • NOW Health Group Inc.
  • Nutraceutical Corp.
  • SDM Nutraceuticals Inc.
  • Sunyata Productos Alternativos Ltda.
  • Uniflora Nutraceutica Ltda.
  • Wax Green USA
  • YS Organic Bee Farms

 

This statistical study of the propolis market encompasses successful business strategies deployed by the key vendors. The propolis market is fragmented and the vendors are deploying growth strategies such as price and quality to compete in the market.

Product Insights and News

  • fytexia.com - Through the unified segment, the company manufactures natural ingredients such as polyphenol concentrates and microbiota homeostasis.
  • fytexia.com - The company offers propolis products under the subsidiary B Natural S.r.l.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The propolis market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Propolis Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the propolis market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Propolis Market?

Propolis Market Share by Geography

For more insights on the market share of various regions Request PDF Sample now!

45% of the market’s growth will originate from APAC during the forecast period. China, Australia, and Japan are the key markets for the propolis market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Online distribution channels will facilitate the propolis market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The sales of propolis were affected by the pandemic in 2020 and the first half of 2021. However, countries in APAC such as India, China, and Japan initiated vaccination drives in the first half of 2021, and the number of COVID-19 cases in the region declined. Owing to this, the demand for propolis has increased among several end-user industries, including personal care and cosmetics, healthcare, and food and beverages. Such factors are expected to drive the growth of the regional market during the forecast period.

What are the Revenue-generating Application Segments in the Propolis Market?

Propolis Market Share

To gain further insights on the market contribution of various segments Request PDF Sample

The propolis market share growth by the healthcare segment will be significant during the forecast period. Propolis is a natural resin produced by honey bees from substances extracted from different plants and buds. It constitutes resin, wax, essential oils, pollens, and other minerals and organic compounds and is, thus, anti-viral, antifungal, antibacterial, and anti-inflammatory. Owing to its pharmacological and biological properties, propolis is mainly used in the global healthcare industry for developing new drugs, which, in turn, will drive market growth in the coming years.

This report provides an accurate prediction of the contribution of all the segments to the growth of the propolis market size and actionable market insights on post COVID-19 impact on each segment.

 

Propolis Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 6.29%

Market growth 2022-2026

$ 61.06 million

Market structure

Fragmented

YoY growth (%)

4.57

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 45%

Key consumer countries

US, China, Australia, Japan, and Spain

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Apis Flora Industrial e Comercial Ltda., Bio Botanica Inc., California Gold Nutrition, Comvita Ltd., Country Life Vitamins LLC, Fytexia SAS, Herb Pharm LLC, Hi Tech Natural Products India Ltd., iHerb LLC, INW Manufacturing LLC, Laprell Beehive Products Inc., Manuka Health New Zealand Ltd., Natural Factors Nutritional Products Ltd., NaturaNectar LLC, Natures Goodness Australia Pty Ltd., NOW Health Group Inc., Nutraceutical Corp., SDM Nutraceuticals Inc., Sunyata Productos Alternativos Ltda., Uniflora Nutraceutica Ltda., Wax Green USA, and YS Organic Bee Farms

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. 

Customization purview

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What are the Key Data Covered in this Propolis Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive propolis market growth during the next five years
  • Precise estimation of the propolis market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the propolis industry across APAC, Europe, North America, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of propolis market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 24: Chart on Application - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
    • 5.2 Comparison by Application
      • Exhibit 26: Chart on Comparison by Application
      • Exhibit 27: Data Table on Comparison by Application
    • 5.3 Healthcare - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Healthcare - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Healthcare - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Healthcare - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Healthcare - Year-over-year growth 2021-2026 (%)
    • 5.4 Personal care and cosmetics - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Personal care and cosmetics - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Personal care and cosmetics - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Personal care and cosmetics - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Personal care and cosmetics - Year-over-year growth 2021-2026 (%)
    • 5.5 Food and beverages - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Food and beverages - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on Food and beverages - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on Food and beverages - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Food and beverages - Year-over-year growth 2021-2026 (%)
    • 5.6 Market opportunity by Application
      • Exhibit 40: Market opportunity by Application ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 44: Chart on Geographic comparison
      • Exhibit 45: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 North America - Market size and forecast 2021-2026
      • Exhibit 54: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 China - Market size and forecast 2021-2026
      • Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.9 US - Market size and forecast 2021-2026
      • Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.10 Australia - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Australia - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Australia - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Australia - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Australia - Year-over-year growth 2021-2026 (%)
    • 7.11 Japan - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.12 Spain - Market size and forecast 2021-2026
      • Exhibit 82: Chart on Spain - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on Spain - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on Spain - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on Spain - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 86: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 89: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 90: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 91: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 92: Matrix on vendor position and classification
            • 10.3 Apis Flora Industrial e Comercial Ltda.
              • Exhibit 93: Apis Flora Industrial e Comercial Ltda. - Overview
              • Exhibit 94: Apis Flora Industrial e Comercial Ltda. - Product / Service
              • Exhibit 95: Apis Flora Industrial e Comercial Ltda. - Key offerings
            • 10.4 Comvita Ltd.
              • Exhibit 96: Comvita Ltd. - Overview
              • Exhibit 97: Comvita Ltd. - Business segments
              • Exhibit 98: Comvita Ltd. - Key offerings
              • Exhibit 99: Comvita Ltd. - Segment focus
            • 10.5 Fytexia SAS
              • Exhibit 100: Fytexia SAS - Overview
              • Exhibit 101: Fytexia SAS - Product / Service
              • Exhibit 102: Fytexia SAS - Key offerings
            • 10.6 Herb Pharm LLC
              • Exhibit 103: Herb Pharm LLC - Overview
              • Exhibit 104: Herb Pharm LLC - Product / Service
              • Exhibit 105: Herb Pharm LLC - Key offerings
            • 10.7 INW Manufacturing LLC
              • Exhibit 106: INW Manufacturing LLC - Overview
              • Exhibit 107: INW Manufacturing LLC - Product / Service
              • Exhibit 108: INW Manufacturing LLC - Key news
              • Exhibit 109: INW Manufacturing LLC - Key offerings
            • 10.8 Manuka Health New Zealand Ltd.
              • Exhibit 110: Manuka Health New Zealand Ltd. - Overview
              • Exhibit 111: Manuka Health New Zealand Ltd. - Product / Service
              • Exhibit 112: Manuka Health New Zealand Ltd. - Key offerings
            • 10.9 NaturaNectar LLC
              • Exhibit 113: NaturaNectar LLC - Overview
              • Exhibit 114: NaturaNectar LLC - Product / Service
              • Exhibit 115: NaturaNectar LLC - Key offerings
            • 10.10 Natures Goodness Australia Pty Ltd.
              • Exhibit 116: Natures Goodness Australia Pty Ltd. - Overview
              • Exhibit 117: Natures Goodness Australia Pty Ltd. - Product / Service
              • Exhibit 118: Natures Goodness Australia Pty Ltd. - Key offerings
            • 10.11 Nutraceutical Corp.
              • Exhibit 119: Nutraceutical Corp. - Overview
              • Exhibit 120: Nutraceutical Corp. - Product / Service
              • Exhibit 121: Nutraceutical Corp. - Key offerings
            • 10.12 Sunyata Productos Alternativos Ltda.
              • Exhibit 122: Sunyata Productos Alternativos Ltda. - Overview
              • Exhibit 123: Sunyata Productos Alternativos Ltda. - Product / Service
              • Exhibit 124: Sunyata Productos Alternativos Ltda. - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 125: Inclusions checklist
                • Exhibit 126: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 127: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 128: Research methodology
                • Exhibit 129: Validation techniques employed for market sizing
                • Exhibit 130: Information sources
              • 11.5 List of abbreviations
                • Exhibit 131: List of abbreviations
              • food allergy among consumers: There is an increase in the number of people suffering from food allergies globally. Food allergy is caused when the immune system reacts to the ingestion of certain foods. Ingredients of packaged foods and meats that can create allergic reactions in some people include (but are not limited to) milk, eggs, fish, crustacean shellfish (e.g., crab, lobster, and shrimp), tree nuts (e.g., almonds, walnuts, and pecan), peanuts, wheat, and soybeans. Even consumption of small amounts of food allergens can trigger signs and symptoms such as digestive problems, hives, and swollen airways. In some people, a food allergy can cause severe symptoms, or even a life-threatening reaction is, known as anaphylaxis. For example, in the US, nearly 3% of the adult population suffers from shellfish allergy.

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                TechnavioINFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases
                Technavio

                TechnavioDATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts
                Technavio

                TechnavioREPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape
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                Propolis market growth will increase by $61.06 million during 2022-2026.
                The propolis market is expected to grow at a CAGR of 6.29% during 2022-2026.
                Technavio has segmented the propolis market by application (Healthcare, Personal care and cosmetics, and Food and beverages) and geographic (APAC, Europe, North America, South America, and Middle East and Africa).
                Apis Flora Industrial e Comercial Ltda., Bio Botanica Inc., California Gold Nutrition, Comvita Ltd., Country Life Vitamins LLC, Fytexia SAS, Herb Pharm LLC, Hi Tech Natural Products India Ltd., iHerb LLC, INW Manufacturing LLC, Laprell Beehive Products Inc., Manuka Health New Zealand Ltd., Natural Factors Nutritional Products Ltd., NaturaNectar LLC, Natures Goodness Australia Pty Ltd., NOW Health Group Inc., Nutraceutical Corp., SDM Nutraceuticals Inc., Sunyata Productos Alternativos Ltda., Uniflora Nutraceutica Ltda., Wax Green USA, YS Organic Bee Farms are a few of the key vendors in the propolis market.
                APAC will register the highest growth rate of 44.63% among the other regions. Therefore, the propolis market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
                • US
                • China
                • Australia
                • Japan
                • Spain
                The key factors driving the propolis market growth are:
                • Health benefits of consuming propolis
                • Increase in research activities to enhance propolis production in beehives
                The propolis market vendors should focus on grabbing business opportunities from the healthcare segment as it accounted for the largest market share in the base year.
                • What are the key global market and the regional market share?
                • What are the revenue-generating key market segments?
                • What are the key factors driving and challenging this market’s growth?
                • Who are the key market vendors and their growth strategies?
                • What are the latest trends influencing the growth of this market?
                • What are the variables influencing the market growth in the primary regions?
                • What are the factors influencing the growth of the parent market?
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