Europe Propolis Market

Europe Propolis Market Size (2024 to 2029)

Europe Propolis Market size is expected to be USD billion by 2024 to achieve USD by 2029, to grow at a CAGR of 5.2% during the forecast period of 2024 to 2029.

MARKET OVERVIEW

Propolis is a resinous mixture produced by honey bees by combining saliva and beeswax with exudate collected from tree buds, sap flows, or other botanical sources. It is used as a beehive sealant to close up unwanted open spaces. Bees do produce not only honey but also a compound called propolis. Combining the sap with their excretions and beeswax creates a sticky, greenish-brown substance that they use as a coating on their hives. Propolis was used medicinally by ancient civilizations thousands of years ago. The Greeks used it to treat abscesses. The Assyrians applied it to wounds and tumors to fight infection and hasten to heal.

MARKET DRIVERS

The primary drivers of the propolis market are the increase in interest in the medical services and medical sectors, as well as the development of awareness about its therapeutic properties.

These factors are expected to play a significant role in the propolis market’s growth and development in the coming years. In addition, Propolis consumption strengthens the immune system over time while acting as an antioxidant, anesthetic, and wound healer, making it an important component of the pharmaceutical industry. These propolis benefits will drive growth in the Europe propolis market in the coming year.

Propolis-containing ointments, such as Herstat or Coldsore-FX, may aid in the healing and relief of symptoms associated with cold sores and genital herpes. In addition, it was also discovered that applying topical propolis three times a day aid in healing cold sores more quickly than other treatments. Therefore, Propolis' benefits and properties are expected to drive market growth in the future. Furthermore, the increase in the manufacturers of propolis and the increase in beekeeping also contribute to the market's growth.

MARKET RESTRAINT

One of the factors that may limit the growth of the European propolis market is the lack of standardization across available brands when purchasing propolis. For example, many brands claim to be made of 20% pure propolis. This, however, does not inform the consumer about the quality of that 20%. Such a limitation in information transparency may limit the market growth.

Furthermore, there is a general lack of awareness about propolis, which has some negative environmental effects. For example, people allergic to bee products may experience allergic reactions to propolis. As a result, it is critical to be aware of your allergens. Propolis consumption in excess can also irritate the mouth and cause ulcers. Furthermore, certain chemical compounds in propolis may inhibit blood clotting. As a result, people who recently had surgery or have bleeding disorders should avoid using it. These are some of the factors that may impede the market growth.

This research report on the Europe Propolis market has been segmented and sub-segmented into the following categories.

Europe Propolis Market By Product Type

• Capsules and Tablets
• Liquids
• Creams
• Other Product Types

Based on the product types the European propolis market is divided into capsules and tablets, liquids, creams, and other product types based on product type. Capsules are expected to grow in this segment over the forecast period because they produce the fastest results compared to others, while liquid-type products are also popular. 

Europe Propolis Market By Category

• Alcohol-Based
• Alcohol-Free

The Europe propolis market is divided into two segments: alcohol and alcohol-free. As consumer demand for pure products increases, the alcohol-free segment is expected to grow during the forecast period.

Europe Propolis Market By Application

• Food and Beverages
• Healthcare
• Personal Care 
• Cosmetics
• Other

Based on the application, the European propolis market is segmented by food and beverages, healthcare, personal care and cosmetics, and others. The healthcare sector holds the largest market share as there is an increase in awareness of the benefits of propolis. It is used in various wound treatments and can easily be treated. However, with the increase in the number of people, it is also anticipated that personal care is also expected to grow in the coming year.

Europe Propolis Market By Distribution Channel

• Offline Retail Stores
• Online Retail Stores

The European propolis market is segmented by online and offline stores based on the distribution channel. Online stores are expected to hold the largest market share in the coming year, as the increase in online stores allows the growth of particular sectors. However, the offline store will keep its sustainable growth as people prefer to choose the products by touch and examination.

Europe Propolis Market By Country

• Germany,
• Bulgaria,
• France, 
• U.K., 
• Italy,
• Spain, 
• Turkey, 
• Belgium, 
• Netherlands, 
• Switzerland,
• Sweden,
• Finland

The increasing demand for propolis in Europe can be attributed to rising health awareness and its ability to boost the immune system and digestive health and reduce wrinkles in adults. As a result, countries like the UK, Brazil, and Germany are expected to hold the largest market share in the Europe propolis market during the forecast period.

KEY MARKET PLAYERS

Apiário Polenectar, Sunyata Pon Lee, Apis Flora, Bee Health Limited, Zhifengtang, Laprell's Beehive Products, Inc., Comvita Limited and its subsidiaries, Wax Green, Manuka Health are some of the notable companies in the Europe Propolis market.

RECENT DEVELOPMENTS IN THE MARKET

•  In 2021, Innovations in Nutrition + Wellness (INW) announced the acquisition of Bee Health, the leading developer and manufacturer of nutritional supplements in the United Kingdom. The highly complementary product capabilities and geographical scope of INW and Bee Health will further enhance the services provided to brand partners.
•  Comvita Ltd announced a strategic alliance with Caravan, a joint venture with the entertainment and sports agency Creative Artists Agency, in 2021. (CAA). By forming a celebrity-backed lifestyle brand that uses the natural healing properties of Mnuka Honey and Propolis for topical use, the new partnership with Caravan will help increase consumer awareness about the benefits of Mnuka Honey and Propolis.