According to a new report, published by KBV research, The Global Propolis Market size is expected to reach $743.9 million by 2030, rising at a market growth of 2.6% CAGR during the forecast period.
The Capsules & Tablets segment is leading the Global Propolis Market by Product Type in 2022; thereby, achieving a market value of $457.4 Million by 2030. As the most straightforward form of propolis product, consumers widely favor it. These are used to treat a variety of diseases and also aid in immune system enhancement. Additionally, propolis capsules and tablets are used as dietary food supplements, which will bolster the segment's sales.
The Online segment is showcasing a CAGR of 3.1% during (2023 - 2030). The online channel provides discounts, coupon benefits, and additional offers. In addition, a variety of propolis products from various manufacturers are readily available on the website. Consequently, it is expected that the segment will expand during the forecast period.
The North America region dominated the Global Propolis Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $250.0 Million by 2030. The Europe region is anticipated to grow at a CAGR of 2.4% during (2023 - 2030). Additionally, The Asia Pacific region would exhibit a CAGR of 3.1% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/propolis-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country-wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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