Bee Propolis Extract Market to Grow at Highest Pace owing to Rising Demand for Natural Immunity Boosting Supplements

 

Bee Propolis Extract Market
Bee Propolis Extract Market

The bee propolis extract market is used extensively in many industries like food & beverages, pharmaceuticals, personal care & cosmetics owing to its anti-inflammatory, antiviral and antibacterial properties. Bee propolis is a resinous hive product collected by honeybees from tree buds, sap flows, or other botanical sources, which is used as a sealant for unwanted open spaces in the beehive. It has a very strong antioxidant activity and contains over 300 compounds including phenolics, amino acids, terpenes, steroids, etc. that provide various health benefits. The increasing demand for natural immunity boosting supplements has raised the use of bee propolis extract significantly.

The Global bee propolis extract market is estimated to be valued at US$ 766.43 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in the Bee Propolis Extract Market are BASF SE (Germany), Dow (U.S.), CLARIANT (Switzerland), Nippon Paint Holdings Co., Ltd.(Japan), PPG Industries, Inc. (U.S.), The Sherwin-Williams Company (U.S.), Huntsman International LLC. (U.S.), MarvelVinyls (India), The VersaFlex Companies (U.S.), Axalta Coating Systems, LLC (U.S.), Pidilite Industries Ltd. (India), Valspar (U.S.), Rhino Linings Corporation. (U.S.), Nukote Coating Systems, Intl. (U.S.), Jotun (Norway), RODDA PAINT, CO. (U.S.), Constro Chem India Pvt. Ltd. (India), ELMET (U.S.), Aalberts Surface Technologies GmbH.(Netherlands). The rising awareness about the health benefits of bee propolis extracts among consumers is driving higher demand in the market. With growing consciousness about immunity, bee propolis extract finds wider application in dietary supplements, functional foods and beverages. Various technological advancements like advanced extraction techniques are helping manufacturers develop pure, standardized and potent bee propolis extracts.

Market Trends

Encapsulation of bee propolis extracts - Encapsulation technology is being used to encapsulate bee propolis extracts into for e.g. nanoemulsions, liposomes etc. This helps in improving its solubility, bioavailability and stability.
Functional beverages infused with bee propolis - Many beverage brands are introducing functional drinks infused with bee propolis to cater to the increasing demand for immunity boosting beverages.

Market Opportunities

Incorporation in personal care products - With various anti-aging and skin healing properties, bee propolis extract can be further utilized in products like lotions, creams, etc.
Growth in nutraceuticals market - As the nutraceuticals market expands significantly, it will propel the demand for bee propolis extracts for use in dietary supplements, vitamins and functional foods.

The COVID-19 pandemic has significantly impacted the growth of the bee propolis extract market. Lockdowns and restrictions imposed to control the spread of the virus disrupted the supply chain and logistics globally. This negatively impacted the production and distribution of bee propolis extracts. Manufacturers faced shortages of raw materials due to challenges in the procurement of propolis from beekeepers. Demand also declined from end use industries like food and beverages, pharmaceuticals and personal care products as their production and operations were reduced during the pandemic. However, the demand for bee propolis extract grew in 2020 and 2021 from the nutraceuticals sector as its immunomodulatory and antiviral properties helped boost immunity against COVID-19. With economies restarting post lockdowns, the market is witnessing a steady recovery since 2022. Manufacturers are focusing on expanding production capacities and improving supply chain efficiencies to cater to rising demand going forward.

In terms of value, Europe currently holds the largest share in the global bee propolis extract market owing to a well-established nutraceuticals industry and growing consumer demand for natural health products. Countries like Germany, France, Italy and the UK are major markets. The Asia Pacific region is poised to be the fastest growing market during the forecast period driven by China and India. Rising health consciousness, improving living standards and growing disposable incomes are fueling sales of dietary supplements containing bee propolis extracts in the region. North America also represents a significant geographic region for the bee propolis extract market supported by increasing preference for alternative medicines and herbal remedies.

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