According to the latest report by IMARC Group, titled “Propolis Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.' the global propolis market reached a value of US$ 625.5 Million in 2021. Propolis, also known as bee glue, is a resinous mixture produced by honey bees using beeswax, saliva, and exudate gathered from tree buds, sap flows, or other botanical sources. It possesses a pleasant aromatic fragrance and varies in color from yellow-green to dark brown according to age and origin. Moreover, it is widely consumed to strengthen the immune system as it has antioxidant, anesthetic and wound healing properties.

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The market is primarily driven by the increasing applications of propolis in the health care and personal care sector due to its numerous health benefits, such as improving digestive health, reducing wrinkles, and decreasing cancer risk. In addition, the high fatality of coronavirus disease (COVID-19) is escalating the demand for natural agents with immune-strengthening properties. This is contributing to the market growth as propolis offers antimicrobial, bactericidal, antiviral, anti-inflammatory, and immunomodulatory properties. Furthermore, leading manufacturers are introducing several propolis-based product variants to suit different medical needs. They are also adopting advanced packaging techniques and promotional campaigns to expand their market reach. On account of these factors, the market is expected to create a favorable market outlook across the globe. Looking forward, IMARC Group expects the market to reach US$ 864.1 Million by 2027, exhibiting a CAGR of 5.64% during 2022-2027.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Competitive Landscape:

• Apiário Polenectar
• Apis Flora
• Bee Health Limited (INW)
• Comvita Limited
• Herb Pharm
• Manuka Health New Zealand
• Natural Factors Nutritional Products Ltd.
• NaturaNectar
• NOW Foods
• Nutraceutical International Corporation
• Sunyata Alternative Products Ltd
• Uniflora Nutraceutica Ltda
• Wax Green.

Key Market Segmentation:

Breakup by Product Type:

• Capsules and Tablets
• Liquids
• Creams
• Others
   

Breakup by Category:

• Alcohol-based
• Alcohol-free
   

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets
• Pharmacies and Drugstores
• Online Stores
• Others
   

Breakup by Application:

• Food and Beverages
• Healthcare
• Personal Care and Cosmetics
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

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Key highlights of the report:                                                           

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• The Impact of COVID-19 on the Global Market
• Value Chain Analysis
• Structure of the Global Market
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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