LONDON--(BUSINESS WIRE)--The global propolis market 2019-2023 is expected to post a CAGR close to 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The health benefits of consuming propolis will drive market growth during the forecast period. Propolis compositions exhibit anti-viral, anti-fungal, anti-bacterial, and anti-inflammatory properties. Some other benefits of consuming propolis include improved immune response and prevention from inflammation, infections, nose, and throat cancer; intestinal disorders, ulcers, and TB. Moreover, several vendors operating in the market are offering propolis-based products for specific health needs. Thus, the various health benefits, along with the easy availability of products containing propolis extracts, is one of the major factors that will drive the demand for propolis in the global market.
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As per Technavio, the increase in research activities to enhance propolis production in beehives, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Propolis Market: Increase in Research Activities to Enhance Propolis Production in Beehives
Several research activities have been undertaken by beekeepers to enhance the production of propolis. Many researchers are conducting experiments and studies to enhance propolis production. In November 2018, a team of researchers and beekeepers conducted a research study in the US to experiment with different ways of enhancing propolis production in beehives. The outcomes revealed that any treatment to the hive interior could increase propolis deposition significantly compared with an unmodified hive wall interior. Of the three treated hive walls, brush-roughened hive wall proved to be an effective wall surface to boost propolis deposition. Such studies are likely to introduce new methods to encourage resin deposits in the bee product industry. Thus, increased research activities to enhance propolis growth in beehives is expected to improve the production of raw propolis and propolis-based products during the forecast period.
“Apart from the increase in research activities, the restoration of natural bee habitats and the rise in blogs and digital media encouraging propolis consumption, are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
Global Propolis Market: Segmentation Analysis
This market research report segments the global propolis market by application (healthcare, personal care and cosmetics, and food and beverages) and geographical regions (APAC, Europe, North America, South America, and MEA).
The APAC region led the market in 2018, followed by Europe, North America, South America and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market and register the highest incremental growth due to the region being the largest producer and exporter of bee products.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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