Natural Bee Products Is Fastest Growing Segment Fueling The Growth Of Bee Propolis Extract Market

 
Bee Propolis Extract Market

The global Bee Propolis Extract Market is estimated to be valued at US$ 665.3 Mn or Million in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Bee propolis extract is a sticky substance collected and used by bees to seal gaps in the hive. It contains over 300 compounds and is known for its antioxidant, antimicrobial and anti-inflammatory properties. Bee propolis extract is primarily used in dietary supplements, functional foods and beverages owing to its health benefits.

Market key trends:
One of the key trends in the bee propolis extract market is the growing demand for natural and organic products. There is an increasing consumer preference for foods, beverages and supplements containing natural ingredients due to rising health awareness. This is fueling the demand for bee propolis extract as it provides antioxidant and anti-inflammatory properties without any chemicals. Manufacturers are launching new organic and natural bee propolis extract products to cater to this demand.


Segment Analysis
The global bee propolis extract market is segmented on the basis of form, application, end use, and geography. Based on form, the market is segmented into liquid, powder, and others. The powder segment dominated the market in 2022 and is expected to witness significant growth over the forecast period. This is due to its easy storage and transport nature. Powder bee propolis extract also has a long shelf life.

Based on application, the market is segmented into food and beverages, pharmaceuticals, and others. The pharmaceutical segment accounted for largest market share in 2022 and is expected to continue its dominance during the forecast period. This is because bee propolis extract has been known for its anti-inflammatory, antioxidant, and antimicrobial properties. It is widely used in medicines for wound healing, rheumatoid arthritis, and other diseases.

Key Takeaways

The Global Bee Propolis Extract Market Demand  is expected to reach US$ 865.3 Mn by 2030, expanding at a CAGR of 4.5% over the forecast period. The market is set to witness high growth due to increasing awareness about the various health benefits of bee propolis extract.

Asia Pacific accounted for the largest market share in 2022 and is expected to lead over the forthcoming years. This is attributed to the presence of major producing countries such as China and growing demand for natural and herbal supplements in countries like India and Japan. Europe is also a major consumer for bee propolis extract due to increasing adoption of herbal formulations.

Key players operating in the bee propolis extract market are Comvita, Bee Health, Natural Life, Manuka Health New Zealand, Zhifengtang, Wangâ€TMs, Bricaas, Baoshengyuan, Zhonghong Biological, and Baoshengyuan. Major players are focusing on capacity expansion activities and product innovation to enhance their market share.

Read More:

https://www.marketwebjournal.com/bee-propolis-extract-market-demand-forecast-and-growth/

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