Propolis Market: Current Analysis and Forecast (2022-2028)
Emphasis on Product Type (Capsules and Tablets, Liquids, Creams, and Other Product Types); Application (Food and Beverages, Healthcare, Personal Care and Cosmetics, and Others); Distribution Channel (Supermarkets and Hypermarkets, Pharmacies and Drugstores, Online Stores, and Others); and Region/Country
The global propolis market is expected to grow at a significant rate of around 6% during the forecast period. Propolis is a generic name for a mixture of resinous substances collected by honeybees from parts of plants, buds, and exudates in the north temperate zone. Propolis contains an enormous number of mixtures that explain a few biological effects that boost up the healing system and are generally utilized in people’s cures. Moreover, propolis and its mixtures have been the focal point of many works because of their antimicrobial and anti-inflammatory activity; however, there is a rising interest in the healing potential of natural products, considering the accessibility and minimal expense of these items. Furthermore, ointments that contain 3 percent propolis, such as Herstat or Coldsore-FX, may help speed healing time and reduce symptoms in both cold sores and sores from genital herpes. For instance, as per WHO, an estimated 3.7 billion people under the age of 50 (67%) have HSV-1 infection globally.
Hi-Tech Natural Product India Ltd., Manuka Health, Wax Green, Laprell’s Beehive Products, Bee Health Limited, Sunyata Pon Lee, Apis Flora, Evergreen Healthfoods Ltd., Polenectar, Comvita Limited. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.s
Insights Presented in the Report
“Amongst application, healthcare category to witness robust CAGR during the forecast period”
Based on application, the market is segmented into food and beverages, healthcare, personal care and cosmetics, and others. Among these, the healthcare category is to witness considerable growth during the forecast period owing to the growing cases of cold sores genital herpes, cancer, diabetes, swelling, and sores inside the mouth. These factors are driving the growth rate of the market during the forecast period. For instance, according to the National Institutes of Health (NIH), in 2020, an estimated 34.2 million people have diabetes and around 26.9 million people of all ages have been diagnosed with diabetes.
“Amongst distribution channel, the online stores to hold a significant share in the market in 2020”
On the basis of distribution channel, the market is categorized into supermarkets and hypermarkets, pharmacies and drugstores, online stores, and others. Among these, the online stores to hold a significant share in the market in 2020. This is mainly due to the rising use of online platforms to buy any medicinal products, increasing cosmetic procedures such as wrinkle reduction, and reduction of any type of scarring to look better which propels the growth of the propolis market during the forecast period.
“North America to hold a significant share in the market”
For a better understanding of the market adoption of the Insulin pump industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the rise in disposable income and increasing cases of cancer, which are further expected to accelerate regional market growth in this region. Furthermore, the U.S. is among the top leading countries that have the highest cases of genital herpes and other herpes viruses. For instance, as per CDC, there were 572,000 new genital herpes infections in the United States in a single year. Nationwide, 11.9 % of persons aged 14 to 49 years have HSV-2 infection.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global propolis market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Propolis Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global propolis market were the three major steps undertaken to create and analyze the adoption of propolis in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Propolis Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the propolis market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the propolis market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type, application, and distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Propolis Market. Further, we conducted factor analysis using dependent and independent variables such as various product type, application, and distribution channels of propolis market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Propolis Market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global propolis market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the propolis market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global propolis market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global propolis market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product type, application, and distribution channel in the global propolis market.
The main objective of the Global Propolis Market Study
The current & future market trends of the global propolis market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the propolis market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product type, application, and distribution channel.
- Define and analysis of the regulatory framework for the propolis
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the propolis market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the propolis market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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