PROPOLIS MARKET ANALYSIS

Propolis Market Size and Trends

The global propolis market is estimated to be valued at USD 683.5 Mn in 2024 and is expected to reach USD 806.9 Mn by 2031, growing at a compound annual growth rate (CAGR) of 2.4% from 2024 to 2031.

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Propolis is used extensively in various industries like food and beverages, personal care & cosmetics, and pharmaceuticals. The increasing awareness about the health benefits of propolis is driving the market growth. The demand for propolis is increasing globally due to growing consumer awareness regarding the health benefits offered by propolis. The increasing use of propolis in various applications like functional foods, dietary supplements, personal care products, etc. is expected to boost the market growth. The booming nutraceuticals industry and rising adoption of natural and herbal ingredients in food and cosmetics are some key factors that are expected to support the demand for propolis. However, stringent regulations regarding the use of propolis may hamper the market growth.

Natural health trends increasing demand for propolis

The last few decades have witnessed an increasing shift of consumer preference towards natural and herbal products for health and wellness. With growing health consciousness, people are opting for foods, supplements, or remedies which are derived from natural sources without any synthetic chemicals or additives. Moreover, as science continues to validate the various healing properties of natural ingredients used in traditional medicines, public trust in such natural remedies has been rising. Propolis falls under this category of natural health products, as it possesses antibacterial, antiviral, and anti-inflammatory properties to support immunity and overall well-being. With its enriched composition of resins, essential oils, pollen, and other compounds collected by bees from tree buds and bark, propolis is now recognized to have therapeutic benefits. As consumers are increasingly demanding natural ways to boost health and fight diseases with minimal side effects, the use of propolis as a supplementary natural medicine is rising. Specialized propolis extract formulations are now available in the form of dietary supplements, ointments, and lozenges which consumers can incorporate in their daily routines to benefit from its medicinal properties. This driver towards natural remedies for promotion of health is playing an important role in augmenting the demand for propolis extracts worldwide.

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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.