PROPOLIS MARKET ANALYSIS

Market Concentration and Competitive Landscape

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The use of propolis in food and beverage products is expected to gain significant traction in recent times owing to its numerous health benefits. Propolis is a resinous material that honey bees collect from tree buds, sap flows, or other botanical sources and use as a sealant in their hives. It has high nutritional value and contains over 300 constituents including phenolic compounds, essential oils, amino acids, and minerals.  Propolis is increasingly being used in various food and beverage products like dietary supplements, functional foods, and beverages for its antioxidant, antimicrobial, and anti-inflammatory properties. Many consumers are opting for such products for their perceived ability to boost immunity and protect against diseases. For example, a 2020 study published in the European Journal of Nutrition found that propolis supplementation for 4 weeks modulated human gut microbiota composition by selectively enriching commensal bacteria and reducing pathogen loads. This has prompted several supplement and functional food companies to introduce propolis-based products. Beverage companies are also incorporating propolis extracts into various beverages like juices, tea, and coffee to cater to the consumer demand for healthy yet tasty beverages. According to statistics by the Food and Agriculture Organization (FAO) in 2020, the global honey production grew by over 17% between 2015 and 2020, indicating rising interest in bee-sourced products. This upward trend along with growing health consciousness post-COVID-19 is expected to drive stronger demand for propolis in years to come. Researchers are studying additional health benefits of propolis which could further expand its application in various food forms.