Propolis Market Expansion Strategies and Business Module Analysis

Market Analysis

The global propolis market is anticipated to touch USD 700
million at a 6% CAGR between 2019- 2024, according to the new report by Market
Research Future (MRFR). Propolis is produced by bees that help to heal wounds,
fight infections, and more. It has extensive applications, including medical,
skincare, haircare, antioxidant, preservative, and others.

Various factors are adding to the global propolis
market growth. According to the new MRFR report, such factors include
constant innovations, rising focus on research and development, improved
production due to advances and development made in the harvesting technology,
and increasing use as antioxidants and food preservation in the food &
beverage industry. Additional factors adding market growth include consumers
inclination towards personal care & well-being products, increasing use in
cosmetic products such as conditioners, shampoos, anti-acne soaps, and lotions,
and increasing use to treat cancer, tuberculosis, ulcers, oral mucositis, upper
respiratory tract infections, cold sores & canker sores,

On the contrary, allergic reactions, irritation, and mouth
ulcers resulting from propolis consumption may limit the global propolis market
growth over the forecast period.

Market Segmentation

The MRFR report gives an inclusive segmental analysis of the
global propolis market report based on end use industry and application.

By application, the global propolis market is segmented into
medical, skincare, haircare, antioxidant, preservative, and others.

By end user industry, the global propolis market is
segmented into personal care and cosmetics, healthcare, food and beverage, and
others. Of these, personal care and cosmetics & healthcare segment will
dominate the market over the forecast period.

Key Players

Leading players profiled in the global propolis market report
include Sunyata Pon Lee (Brazil), Arataki Honey Ltd (New Zealand), Shaanxi
Rebecca Bio-Tech Co. Ltd (China), Natures Goodness (Australia), Hi-Tech Natural
Product India Ltd (India), the Propolis People (South Africa), Laprell's
Beehive Products Inc. (Canada), Herbaland Naturals Inc. (Canada), Comvita (New
Zealand), Pharma Base SA (Switzerland), B Natural SRL (Italy), and Bee Health
Limited (UK). Industry players have incorporated several strategies to create a
niche in the market and also cater to the consumers growing needs. These
include yet are not restricted to acquisitions, mergers, joint ventures,
partnerships, collaborations, new product launches, new product development,
strategic alliances, contracts, geographic expansions, and more.

Regional Analysis

Based on the region, the global propolis
market overview report covers the growth opportunities and recent
trends across North America, Europe, the Asia Pacific (APAC), Latin America
& the Middle East, and Africa. Of these, the APAC region is predicted to
dominate the market over the forecast period. Burgeoning demand in the
healthcare sector, increasing use in different beauty products, and
accelerating demand for personal care products are adding to the global
propolis market growth in the region. India, South Korea, Singapore, Japan, and
China have the maximum share in the region. According to the head of the
Biotechnology department of the Indian Institute of Technology in Delhi, the
natural compounds present in Propolis have the potential of being an effective
COVID-19 preventive drug, which may have a positive effect on the market growth
in the region.

The global propolis market in North America is predicted to
have sound growth over the forecast period. Burgeoning demand for propolis in
the healthcare sector & personal care and cosmetics for the growing
preference for natural products is adding to the global propolis market growth
in the region. The US has the maximum share in the region for the high
consumption and large-scale production of cosmetic products.

The global propolis market in Europe is predicted to have
healthy growth over the forecast period while in Latin America, and the MEA is
predicted to have steady growth over the forecast period. 

NOTE: Our Team of Researchers are Studying Covid19 and
its Impact on Various Industry Verticals and wherever required we will be
considering Covid19 Footprints for Better Analysis of Market and Industries.
Cordially get in Touch for More Details.