Propolis Market 2022-2026: 45% of Market Growth will Originate from APAC
The propolis market share is set to grow up to USD 61.06 million, accelerating at a CAGR of 6.29% during the forecast period. The health benefits of consuming propolis will offer immense growth opportunities to market vendors. Technavio research provides an in-depth analysis of the market across the different geographical segments.
In addition, the increase in research activities to enhance propolis production in beehives is one of the major propolis market trends that supports market growth. However, the declining number of honey bee colonies will hamper market growth.
The propolis market report traces the growth trajectory of the market over recent years with a purview on the prevalent market scenario. It offers a thorough analysis of all the trends, drivers, and challenges that are likely to impact the market during the forecast period.
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Propolis Market: APAC to lead market growth during the forecast period
- The propolis market is segmented by Application (Healthcare, Personal care and cosmetics, and Food and beverages) and Geography (APAC, Europe, North America, South America, and MEA).
- Based on the application segment, the propolis market growth in the healthcare segment will be significant during the forecast period.
- 45% of the market growth will originate from APAC during the forecast period. China, Australia, and Japan are the key markets for the propolis market in APAC.
- Online distribution channels will drive the demand for propolis market growth in APAC over the forecast period.
- The propolis market report provides an accurate prediction of the contribution of all the geographic segments to the growth of the propolis market size.
Propolis Market: Vendor Landscape
The propolis market is fragmented due to the presence of several players. Some of the major propolis market vendors are Apis Flora Industrial e Comercial Ltda., Bio Botanica Inc., California Gold Nutrition, Comvita Ltd., Country Life Vitamins LLC, Fytexia SAS, Herb Pharm LLC, Hi-Tech Natural Products India Ltd., iHerb LLC, INW Manufacturing LLC, Laprell Beehive Products Inc., Manuka Health New Zealand Ltd., Natural Factors Nutritional Products Ltd., NaturaNectar LLC, Natures Goodness Australia Pty Ltd., NOW Health Group Inc., Nutraceutical Corp., SDM Nutraceuticals Inc., Sunyata Productos Alternativos Ltda., Uniflora Nutraceutica Ltda., Wax Green USA, and YS Organic Bee Farms
Download the PDF sample report for highlights on the market size, growth momentum, regional growth opportunities, vendor analysis, and other factors influencing the growth of the market.
The report provides insights into the following FAQs:
- What is the market CAGR?
The market is accelerating at a CAGR of 6.29%.
- What is the incremental growth of the market?
The market is expected to grow up to USD 61.06 million.
- What is a key factor driving this market?
The health benefits of consuming propolis will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
APAC, Europe, North America, South America, and MEA are the key regions featured in this research report.
- Which is the leading geographic region for this market?
45% growth will originate from APAC.
- Who are the leading market vendors?
The leading vendors in this market are Apiary Polenectar, Apis Flora Industrial e Comercial Ltda., Comvita Ltd., Fytexia SAS, INW Manufacturing LLC, KINGS GEL INDUSTRIA E COMERCIO LTDA., Manuka Health New Zealand Ltd., MN Propolis Ind. Com. EXP. Ltda., Natures Goodness Australia Pty Ltd., and Sunyata Productos Alternativos Ltda.
- What are the market segments covered in this report?
The market is segmented by Application (Healthcare, Personal care and cosmetics, and Food and beverages) and Geography (APAC, Europe, North America, South America, and MEA).
