The Asia Pacific Propolis Market would witness market growth of 3.1% CAGR during the forecast period (2023-2030).
Propolis, also known as bee adhesive, is a resinous substance produced by honeybees by combining saliva and beeswax with exudates collected from tree buds, sap flows, and other botanical sources. Due to its viscous composition and mechanical properties, propolis is utilized by bees in the maintenance and construction of hives.
More than 500 compounds, including flavonoids, phenolic compounds, polyphenols, terpenes, terpenoids, coumarins, steroids, amino acids, and aromatic acids, have been identified in propolis. In addition, propolis is abundant in phytochemicals, such as essential oils, vitamins (A, B complexes, C, and E), and essential minerals, such as aluminium, sodium, potassium, calcium, copper, magnesium, iron, and zinc, all of which play crucial roles in terms of biological activity.
As bees collect the raw materials for propolis from various plant parts, propolis contains pigments and compounds generated by a variety of plants. Therefore, the chemical composition of propolis varies according to its geographical location, botanical sources, season, and bee species. Propolis has garnered significant interest in medical research due to its plausible health benefits as well as therapeutic properties.
Propolis has demonstrated strong antimicrobial and antibacterial properties, which has led to research on its use in wound healing, oral health, and as a potential natural alternative to antibiotics. Researchers have explored the anti-inflammatory properties of propolis and its potential applications in managing inflammatory conditions, such as arthritis and skin disorders.
According to the Census 2011, 8.6% of India's population, or 104 million individuals, are 60 or older. Males outweigh females among seniors (60+). The National Policy on Older Persons (1999), the Maintenance and Welfare of Parents and Senior Citizens Act (2007), and the National Policy for Senior Citizens (2011) of the Government of India give the framework within which to address the requirements of seniors. Elderly patients get specialized treatment in primary healthcare via the National Programme for Health Treatment of the Elderly and Health and Wellness Centers under the Ayushman Bharat initiative. Hence, these benefits are creating growth opportunities for the Market in the Asia Pacific.
The China market dominated the Asia Pacific Propolis Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $63.0 Million by 2030. The Japan market is estimated to witness a CAGR of 2.4% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 3.8% during (2023 - 2030).
Based on Product Type, the market is segmented into Capsules & Tablets, Liquids and Others. Based on Distribution Channel, the market is segmented into Retail Store, Online, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Propolis Market is Projected to reach USD 743.9 Million by 2030, at a CAGR of 2.6%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Apis Flora Industrial e Comercial Ltda., Herb Pharm, LLC, Bee Health Limited (INW Manufacturing, LLC), YS Organic Bee Farms, Comvita Limited, Wax Green, Apiário Polenectar, Uniflora Nutraceutica Ltda, Sunyata Produtos Alternativos Ltda, and NOW Health Group, Inc.
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