PROPOLIS MARKET ANALYSIS

Fluctuations in raw material supply and prices have created uncertainties that are restraining the growth of the global propolis market. Propolis is a resinous material collected by honeybees from tree buds and sap flows. Its availability depends highly on climatic and environmental conditions which have become more volatile in recent years. Due to rising global temperatures caused by climate change, bees have to travel longer distances to find appropriate tree sources, impacting the propolis yield. Droughts and unpredictable weather patterns in different parts of the world like Brazil, which is a major propolis producer, have disrupted the harvest. This directly impacts the supply availability for the beekeeping and propolis extraction industry.

Opportunities: Rising consumer preference for natural and herbal products

Consumer preference for natural and herbal ingredients in food and cosmetic products has been steadily increasing in recent years. According to the Organic Trade Association's 2022 Manufacturer Survey, the sales of organic food and non-food products in the U.S. grew by 15% in 2021, reaching USD 62.5 billion. This growth has been driven by health and sustainability concerns among consumers. More people now want products that are free of synthetic chemicals, preservatives and other artificial ingredients. They are actively seeking out goods containing natural herbs, plant extracts and beeswax like propolis, which is known for its antimicrobial and anti-inflammatory properties.