The Global Propolis Market Growth Accelerated By Expanding Applications In The Food & Beverages Industry

 

Propolis is a resinous substance collected by honey bees from various plant sources which possesses antibacterial, antiviral, and anti-inflammatory properties. Propolis is commonly used as a dietary supplement owing to its antioxidant properties. It is used as a preservative and emulsifier in the food & beverage industry. The growing demand for natural remedies to boost immunity has uplifted the demand for propolis-based supplements. Propolis also finds applications in personal care products such as moisturizers, lotions, and creams owing to its skin protecting and healing properties.

The Global Propolis Market Size is estimated to be valued at US$ 815.31 Mn in 2024 and is expected to exhibit a CAGR of 4.2% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The expanding application of propolis in the food & beverages industry has been a key driver augmenting the propolis market growth. Propolis is commonly used as a preservative and emulsifier in various food products such as dairy, bakery, and beverages. It acts as a natural alternative to chemical preservatives which are considered unhealthy. The rising health-conscious consumer preference for natural ingredients in food products has also propelled the demand for propolis. Furthermore, propolis aids in extending the shelf-life of food products without altering the taste, thereby witnessing widespread adoption among food manufacturers. The multifunctional benefits of propolis make it a viable solution for various food applications, thus accelerating the propolis market expansion over the forecast period.

Segment Analysis
Propolis is broadly categorized into four major segments - bee propolis, poplar propolis, birch propolis and pine propolis. Among these, bee propolis dominates as the most important and highly traded propolis resin. It accounts for over 80% of the global propolis market share owing to its wide usage in food & beverage, pharmaceutical and cosmetic industries. It finds applications as a flavoring agent in teas, alcoholic beverages, candies and others.

Key Takeaways
The global propolis market is expected to witness high growth. The global Propolis Market is estimated to be valued at US$ 815.31 Mn in 2024 and is expected to exhibit a CAGR of 4.2% over the forecast period 2024-2031.

Regional analysis shows that Asia Pacific holds the largest share of the global propolis market currently. China dominates the Asia Pacific propolis market with over 50% of the regional market share owing to abundant raw material availability and strong production base. North America is the fastest growing market for propolis and is expected to grow at a CAGR of 5.4% during the forecast period.

Key players operating in the propolis market are Air Liquide, PlanET Biogas, Wartsila, EnviTech Biogas AG, Robert Bosch GmbH, Asia Biogas, and Schmack Biogas GmbH. Propolis finds wide usage in end use industries like food & beverages, pharmaceutical, cosmetics etc. The food & beverage segment accounts for the largest share of over 35% of the global propolis market.

Get More Insights Here: https://www.newswirestats.com/propolis-market-size-share-and-growth-forecast-2023-2030/

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