by Bee propolis extract is a resinous material collected by honeybees from tree bark and leaf buds that is used as a sealant in honeybee nests. It has anti-microbial, anti-inflammatory, anti-oxidant and immune-boosting properties. The extracts of bee propolis are increasingly finding applications in food and beverages, dietary supplements, personal care and cosmetics to confer these health benefits to consumers.
The 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 growing demand for natural immunity-boosting ingredients in foods and beverages is expected to drive the bee propolis extract market. Its incorporation in supplements, energy drinks and other beverages boosts immune health without artificial flavors or preservatives.
Globally, Europe dominated the bee propolis extract market in the historical period due to high awareness among consumers regarding its medicinal properties. However, strong growth is expected from Asia Pacific due to increasing health-consciousness in China, India and other developing nations. Manufacturers are expanding production facilities and distribution networks across Asia and Latin America to tap into high-potential markets.
Market Key Trends
One of the key trends driving growth in the bee propolis extract market is its increasing demand from the natural cosmetics industry. Propolis extracts help soothe skin irritation and inflammation when used in anti-aging creams and lotions. It has also demonstrated efficacy in acne treatment when combined with other natural actives like tea tree oil. The ingredient’s anti-microbial, anti-oxidant and healing properties support skin health and rejuvenation without chemical preservatives or artificial colors. Its usage is surging in natural balms, serums and facial masks as consumers shift towards eco-friendly personal care products.
Porter’s Analysis
Threat of new entrants: New companies find it difficult to enter this market due to resource requirements and established distribution channels of existing players.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes but switching costs keep their power in check.
Bargaining power of suppliers: Beekeepers have significant influence being major suppliers of raw bee propolis. Production fluctuations impact supply availability.
Threat of new substitutes: Alternative Extracts pose threat but propolis unique properties attract demand.
Competitive rivalry: Intense competition due to multiple regional and global players.
Geographical Regions
Europe accounts for around 35% of global bee propolis extract market value owing to high awareness and consumption in countries like Germany, France, UK.
Asia Pacific market is growing at fastest pace led by China, India due to rising health consciousness, expanding apiary industry and increasing usage of propolis in cosmetics, functional foods industries.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research.
2. We have leveraged AI tools to mine information and compile it.
