PUBLISHER: Value Market Research | PRODUCT CODE: 1547864
PUBLISHER: Value Market Research | PRODUCT CODE: 1547864
The global demand for Propolis Market is presumed to reach the market size of nearly USD 879.98 Million by 2032 from USD 667.4 Million in 2023 with a CAGR of 3.12% under the study period 2024-2032.
Propolis is a sticky, greenish-brown compound produced by bees by combining their sap with their discharges and wax. The compositions vary depending on the location of the bees and trees and flowers they have access to. Bees use it to build their hives. Researchers have identified more than 300 compounds in propolis. The majority of these compounds are forms of polyphenols, an antioxidant that fights disease and damage in the body. It is known to have antibacterial, antiviral, antifungal, and anti-inflammatory properties. It is found in fruits, green tea, vegetables, and red wine. Other than food and medicinal use, it is used for in musical instruments as varnish ingredients and as a wax in-car application to fats and oils into automobile wax during application.
Demand for propolis will keep on rising due to its multiple health benefits. The majority of propolis is utilized for food and medicinal use. It is commercialized internationally for therapeutic purposes and as complementary and functional food. Russia, China, and Brazil are major propolis producing countries. Propolis is researched for several studies, particularly the effectiveness of propolis against bacterial pathogens. Many health benefits derived from propolis have been pointed out and are still further studied for more potential. Currently, propolis finds its application in tinctures, sprays, candies, ointments, creams, and toothpaste. Recently, propolis has been suggested to have a role in treating certain cancers. Favorable results from studies will create opportunities for the propolis market. New species have recently acquired economic relevance, although their taxonomic status is still pending. Despite being a product of value, it's used is significantly neglected by some parts, which is restraining the market's growth.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Propolis. The growth and trends of Propolis industry provide a holistic approach to this study.
This section of the Propolis market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Propolis market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Propolis market include Apis Flora, Herb Pharm LLC, Bee Health Limited, YS Organic Bee Farms, Comvita Ltd, Wax Green, Apiary Polenecter, Uniflora Health Foods, Sunyata Pon Lee, NOW Foods. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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