propolis market 1

propolis market is expected to garner a revenue of USD 700 million by
2024
Market Synopsis
Propolis is a resinous mixture gathered by honeybees in order to seal the unwanted
open spaces in the beehive. The composition and color of propolis vary from hive to
hive depending on the botanical sources, but dark brown is most common. Market
Research Future (MRFR) has recently published a report asserting the global and U.S.
propolis market is anticipated to project a steady CAGR of 3.5% during the forecast
period of 2015-2021.
For More Information @
https://www.marketresearchfuture.com/reports/propolis-market-782
Market Drivers and Restraints
The global and U.S. market for propolis is majorly driven by the rapid expansion of
the bee farming industries and increasing demand for propolis in various industries
such as pharmaceutical industry, health and food industry, cosmetic industry and
others. The medicinal properties of propolis such as antifungal, antibacterial, antiviral
and anti-inflammatory have created a wide range of application of propolis in the
pharmaceutical industry, which is inducing the demand for propolis in the global and
U.S. market.
The use of propolis as a varnish for stringed musical instruments and as a sealant
for newly made bridges of those instruments is resulting in increased demand of
propolis, leading to the expansion of the global and U.S. propolis market. Some
chewing gum manufacturing companies are utilizing propolis to make propolis gum
which is increasing the application range of propolis in the food industry.
The expansion of the global and U.S. propolis market is propelled by the increased
usage of propolis in the pharmaceutical industry owing to its application in
manufacturing antibacterial products for skin diseases and dental products that are
used after dental surgeries, and also its immune system boosting properties. The
application of propolis in the production of car wax is also fueling the expansion of
the global and U.S propolis market.
Key Players
The key players of the global and U.S. Propolis Market Manufacturers are Apis
Flora (Brazil), Comvita (New Zealand), Laprell's Beehive Products, Inc.
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