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.
The bee venom extract market study examines the market’s drivers, restraints, and challenges, as well as the impact they have on demand during the forecast period. The paper also looks at new potential in the bee venom extract market.
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Market for Bee Venom Extract: Overview
A naturally occurring toxin created by honeybees is called bee venom extract. Since the product provides significant therapeutic advantages like lowering pain intensity and inflammation as well as enhancing skin texture and overall health, it has a wide range of applications in the pharmaceutical and cosmetic care industries. The demand for several end-user goods, including serums, lotions, vitamins, and masks, is satisfied by the bee venom extract sector. The product is in great demand due to rising customer interest and awareness rates, and the trend has experienced faster growth in recent years. The outstanding health advantages of the extract are also to blame for the growing trend towards using natural or organic care products.
Key Findings:
• According to the data provided by our research analyst, the global market for bee venom extract is anticipated to expand at a CAGR of roughly 4.95% from 2023 to 2030.
• The market for bee venom extract was estimated to be worth USD 330 million in 2022 and is anticipated to grow to USD 530 million by 2030.
• The market for bee venom extract is anticipated to expand significantly over the coming years as a result of the rising demand for natural and organic products.
Growing desire for natural and organic goods will drive market demand
Due to end-users’ growing preference for naturally occurring or organic products over products made chemically, such as personal care products or other consumables, the market for bee venom extract is predicted to grow steadily over the coming years. Bee venom extract is frequently marketed as an organic substance by various businesses, and it is increasingly in demand in the cosmetic care sector due to the advantages it has when utilised in controlled settings.
The demand for organic products is rising for a number of reasons. For example, increasing levels of consumer awareness, environmental worries about the manufacturing and consumption of artificially processed foods, and increased concern for animal welfare are all factors in the growing popularity of naturally occurring foods. In addition, the industry participants depend on the purported health advantages of bee venom extract to market the product. The product benefits from exceptional skin-related effects as well as anti-inflammatory and pain-relieving qualities.
associated health hazards to limit market expansion
The items made from bee venom might not be appropriate for everyone. Although the products are proven to benefit the skin by enhancing its general health, those who have a history of an allergic reaction to bee stings may experience severe reactions. These elements might prevent the bee venom extract market from expanding as much. Additionally, a lack of knowledge about the substance may result in low-quality items being sold on the commercial market, driving away key customers. Due to the existing limited supply of bee venom extract, growth restrictions are promoted, and as a result, industry actors are unable to fully realise their potential.
Increasing research and development spending will create great opportunities.
There isn’t much data to make sure the substance can be used to its full potential because the global market for bee venom extract is still developing. This has caused more money to be invested in higher research and development projects aimed at discovering new uses for bee venom extract and adapting it for a wider range of consumers. Additionally, because the substance is being employed in drugs for the treatment of multiple sclerosis and arthritis, its expanding use in the pharmaceutical sector could lead to increased revenue.
Growing alternative competition will impede market expansion
Intense competition from organic product alternatives is now affecting the worldwide bee venom extract market. By incorporating natural ingredients into skincare products and other dietary supplements that affect skin health, numerous brands are maximising the benefits of various natural goods. Additionally, to appeal to a wider consumer base, industry players have adopted the good marketing technique of including naturally occurring components that are culturally popular into skincare products. Additionally, the sector has additional difficulties because to its heavy reliance on beekeepers and honey bees, both of which are vulnerable to shifting 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
Recently Occurring Events :
• CSIR-Centre for Cellular and Molecular Biology (CCMB), Hyderabad researchers filed the possible use of bee venom extract to treat COVID-19 infection in May 2022. The research group came to the conclusion that the compound’s anti-bacterial peptides helped lower the virus’ viral load.
• Researchers at Duzce University in Turkey created a skincare prototype in May 2022 utilising beeswax, honey, propolis, bee venom, and royal jelly. The research study’s deliverables included moisturization, skin smoothness, skin tone, wrinkle visibility, and several other characteristics. It also examined cytotoxicity, dermalogical reaction, stability, and antioxidant activity.
The global bee venom extract market is home to players like:
● 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
● Nutraceuticals Group Europe Ltd
● Zhejiang Wanfeng
● Poison Garden
● Medicines Group Co Ltd
● Nectar Ease Ltd
North America will experience the fastest growth
North America is expected to have the biggest growth in the worldwide bee venom extract market, with the US serving as a significant source of revenue. A significant growth driver is the rising level of interest among scientists in using bee venom extract in pharmaceutical, cosmetic, and personal care goods.
One of the most well-funded industries in the US is the pharmaceutical sector, and the nation is using this to its advantage to further explore the potential of the international community. Additionally, customers’ increased awareness may result in a rise in demand for goods made using bee venom extract. With increasing contributions from Germany, France, and the UK, Europe is now the second-most dominant region, mostly as a result of the growing demand for organic products and the presence of one of the strongest cosmetics industries. The expanding research efforts to encourage the usage of the substance may also be fueling regional growth.
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