Propolis Market size is expected to reach USD 746.4 million by 2028
Propolis Industry Overview The global propolis market size was valued at USD 636.6 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 2.3% from 2022 to 2028. The increasing demand for propolis in the pharmaceutical and healthcare industry is a major factor driving market growth. It is also used in various dermatology products which are used to treat burns, acne, fungal infection, and neurodermatitis. The product had its application in ointments and cancer treatment as it helps in restricting the growth of cancerous cells and also in its multiplication. Propolis is made by bees from the bud of cone-bearing and poplar trees. It is rarely available in pure form and is generally obtained from beehives. The product is used in the treatment of cold sores, diabetes, and oral mucositis. Owing to this reason its demand is seen increasing in recent years. Hence, the market is anticipated to grow over the assessment period. Gather more insights ab...