The global bee venom extract market size was worth around USD 330 Million in 2022 and is predicted to grow to around USD 530 Million by 2030 with a compound annual growth rate (CAGR) of roughly 4.95% between 2023 and 2030.
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➤ The market demand is expected to be driven by the increasing demand for organic and naturally-occurring products.
A steady CAGR is anticipated in the global bee venom extract market as a result of the growing preference of end-consumers for naturally occurring or organic products over those that are chemically manufactured, such as personal care items or other consumables. Bee venom extract is frequently marketed as an organic compound by numerous participants, and it is experiencing significant demand in the cosmetic care industry as a result of the numerous advantages it offers when utilized in controlled environments.
➤ Health risks that may limit market expansion
Bee venom-derived products may not be suitable for all individuals. While the products are recognized for their beneficial effects on the skin’s overall health, they may induce severe reactions in individuals who have a history of an allergic response to bee stings. The bee venom extract industry may experience restricted growth as a result of these factors. Additionally, the presence of low-quality products in the commercial market may result from a lack of awareness and comprehension of the compound, which could result in the loss of valuable consumers. The industry’s true potential is not being realized by industry participants, as the current limited supply of bee venom extract encourages growth limitations.
➤ Increasing investments in research and development to offer exceptional opportunities
The global bee venom extract market is relatively new, and as a result, there is a lack of information to guarantee that the compound is utilized to its maximum potential. This has resulted in a rise in investments in research and development activities that are focused on the further application of bee venom extract and the adaptation of it to a broader consumer base. Additionally, the compound’s increasing use in pharmaceuticals for the treatment of multiple sclerosis and arthritis may result in increased revenue.
➤ Increasing competition from alternative sources to impede market expansion
The global bee venom extract industry is experiencing significant competition from organic alternatives that are currently available in the market. Numerous brands are capitalizing on the benefits of various natural products by incorporating them into hygiene products and other supplements that affect skin health. Furthermore, industry participants have implemented an exceptional marketing strategy that involves the incorporation of culturally significant natural ingredients into skincare products in order to appeal to a broader consumer base. Additionally, the industry faces an additional challenge due to its heavy dependence on beekeepers and honey bees, which are susceptible to fluctuations in weather patterns.
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The Global Bee Venom Extract Market is segmented based on product, application and region
Global Bee Venom Extract Market: Product Segment Analysis
● Power
● Liquid
Global Bee Venom Extract Market: Application Segment Analysis
● Cosmetics & Personal Care
● Pharmaceutical
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The global Bee Venom Extract market profiles key players such as:
● Honson Pharmatech Group Ltd.
● ApiHealth NZ Ltd.
● Karin Herzog SA
● Swanson Health Products
● Beekeeper’s Naturals
● Nature’s Laboratory Ltd.
● Croda International plc
● Laboratorios Dr. Esteve S.A.
● Hargol FoodTech
● Roshan Biotech Pvt. Ltd.
● Yakov Gershkovich
● Ibiosys Solutions SAS
● SRS Aromatics Ltd.
● Life Health Foods UK Ltd
???? Recent Developments:
• The prospective application of bee venom extract to treat COVID-19 infection was registered by researchers at the CSIR-Centre for Cellular and Molecular Biology (CCMB), Hyderabad, in May 2022. The research committee determined that the anti-bacterial peptides in the compound contributed to the virus’s reduction in viral burden.
• In May 2022, researchers at Duzce University in Turkey created a cosmetics prototype that incorporated beeswax, royal jelly, bee venom, honey, and propolis. The objective of the research study was to evaluate cytotoxicity, dermalogical response, stability, and antioxidant activity, as well as deliverables such as moisturization, skin suppleness, skin tone, wrinkle visibility, and other parameters.
➤ North America is expected to experience the most significant growth.
North America is anticipated to experience the most significant growth in the global bee venom extract market, with the United States serving as a significant revenue source. The pharmaceutical sector, cosmetics, and personal care products are all experiencing significant growth due to the increasing interest in the application of bee venom extract in the research community.
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