Propolis Market Size, Opportunities and Outlook 2028

Propolis Market Growth & Trends

The global propolis market size is expected to reach USD 746.4 million by 2028, registering a CAGR of 2.3% over the forecast period, according to a new report by Grand View Research, Inc. The increasing rate of herpes simplex virus type 1 and type 2 is a major factor propelling the market growth. These infections lead to cold sores and blisters, and are often painful, which, in turn, will drive the market.

Gather more insights about the market drivers, restrains and growth of the Global Propolis Market

Market Segmentation

Grand View Research has segmented the global propolis market based on product type (Capsules And Tablets, Liquids, Others), distribution channel (Retail Store, Online, Others).

Based on Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa.

North America dominated the market and accounted for the largest revenue share of over 33.0% in 2021.

North America dominated the market and accounted for the largest revenue share of over 33.0% in 2021 due to the high demand for propolis in the U.S. and Canada. Due to increasing cases of genital herpes in the U.S., its demand is seen rising in this region. The U.S. is among the top leading countries that has the highest cases of genital herpes and other herpes viruses. Also, due to rising import demand, the industry is expected to witness momentous growth over the forecast period.

In Asia Pacific, the market is expected to witness a CAGR of 2.7% from 2022 to 2028.

This can be credited to the growing demand for propolis in this region. A rise in disposable income is further driving market growth. In addition, increasing cases of cancer are further expected to accelerate regional market growth. Hence, the propolis market is estimated to show growth in this region during the forecast period.

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Key Companies

The key players in the global propolis market include – Herb Pharm LLC, Apis Flora, Bee Health Limited, YS Organic Bee Farms, Comvita Ltd, Wax Green, Apiary, Polenecter, Uniflora Health Foods, Sunyata Pon Lee, NOW Foods.

Companies’ main focus is on innovating new products to meet the increasing demand for propolis. New players are entering the market owing to low market entry barriers and higher market potential. The increasing demand for propolis offers an opportunity for product development in the regions of high demand.

Order a free sample PDF of the Propolis Market Intelligence Study, published by Grand View Research.