Bee Venom Extract Market Size, Share, Trends, Growth 2030

Bee Venom Extract Market: Industry Prospective

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 report analyzes the global bee venom extract market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the bee venom extract industry.

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Bee Venom Extract Market: Overview

Bee venom extract is a naturally occurring toxin that is produced by honeybees. The product has extensive applications in the pharmaceutical and cosmetic care industries since it is a source of tremendous therapeutic benefits like reducing pain intensity and inflammation along with improving the texture of the skin and overall health. The bee venom extract industry caters to the demand for various end-user products like serums, creams, supplements, and masks. The growing awareness rate and consumer interest are causing high demand for the product and the trend has seen higher growth in the last few years. Furthermore, the increasing inclination toward adopting natural or organic care products driven by the excellent health benefits of the extract is responsible for the steady growth in the industry. Although the market is expected to witness higher revenue it may also be subject to various challenges and growth restrictions during the forecast period.

Key Insights: 

• As per the analysis shared by our research analyst, the global bee venom extract market is estimated to grow annually at a CAGR of around 4.95% over the forecast period (2023-2030)
• In terms of revenue, the global bee venom extract market size was valued at around USD 330 Million in 2022 and is projected to reach USD 530 Million, by 2030.
• The bee venom extract market is projected to grow at a significant rate due to the growing demand for organic and naturally-occurring products
• Based on application segmentation, cosmetics & personal care were predicted to show maximum market share in the year 2022
• Based on type segmentation, powder was the leading type in 2022
• On the basis of region, North America was the leading revenue generator in 2022

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Bee Venom Extract Market: Growth Drivers

Growing demand for organic and naturally-occurring products to propel market demand

The global bee venom extract market is expected to register a steady CAGR owing to the increasing rate at which end-consumers are now showing an inclination toward naturally occurring or organic products as opposed to chemically manufacturing personal care items or other consumables. Many players often market bee venom extract as an organic compound and is gaining high momentum in terms of demand in the cosmetic care industry due to several benefits associated with it when used in controlled environments.

There are several reasons for the growing demand for organic items. For instance, rising consumer awareness rates along with environmental concerns related to the production and consumption of artificially prepared products, and rising care of animal welfare are important to the growing acceptance of naturally-occurring products. In addition to this, the potential health benefits of using bee venom extract are also important for the industry players to sell the product. Exceptional skin-related effects along with properties of anti-inflammatory and pain-relieving work in the favor of the product.

Bee Venom Extract Market: Restraints

Associated health risks to restrict the market growth

The products derived using bee venom may not be suitable for all people. Although the products are known to have a positive impact on the skin in improving its overall health, they may cause severe reactions in people who have a history of an allergic response to bee stings. These factors could lead to restricted growth in the bee venom extract industry. Furthermore, limited awareness and understanding of the compound may lead to low-grade products being circulated in the commercial market thus causing a loss of valuable consumers. The growth limitations are encouraged due to the restricted supply of bee venom extract at current time and hence industry players are unable to tap into the true potential of the industry.

Bee Venom Extract Market: Opportunities

Growing investments toward research & development to provide excellent opportunities

Since the global bee venom extract market is relatively new, there is limited information available to ensure that the compound can be used to its full potential. This has led to increasing investments toward higher research & development activities directed toward understanding further applications of bee venom extract and making it suitable for larger consumer groups Additionally, the growing adoption of the compound in the pharmaceutical industry could also generate higher revenue since it is being used in medications related to the treatment of multiple sclerosis and arthritis.

Bee Venom Extract Market: Challenges

Rising competition from alternatives to challenge market growth

The global bee venom extract industry is registering intense competition from alternatives present in the market in terms of organic items. Several brands are leveraging the advantages of different natural products by using them in skincare items and other supplements that impact skin health. In addition to this, industry players have adopted an excellent marketing strategy of using culturally popular natural ingredients in skincare items to cater to a larger segment of consumers. Moreover, high reliance on beekeepers and honey bees which are sensitive to changing weather patterns is an added challenge in the industry.

Bee Venom Extract Market: Segmentation

The global bee venom extract market is segmented based on application, type, and region.

Based on application, the global market segments are cosmetics & personal care, and pharmaceutical. In 2022, the highest growth was observed in the cosmetics & personal care segment. The popularity of the product in the segment is driven due to excellent anti-aging and anti-inflammatory properties. The ingredients are marketed to stimulate the production of collagen and increase blood flow to the skin. These events are essential for managing the appearance of wrinkles and fine lines. Bee venom extract is used extensively in facial creams, serums, and masks along with eye treatment products. Some industry players also use it in hair care products since it is expected to promote healthy hair. Bee venom extract concentration in cosmetic products is generally less than 1%.

Based on type, the global market is divided into power and liquid. The popularity of the form depends on the intended and final use of the product; however, the industry witnessed the highest CAGR in the powder segment owing to higher production of product-based skincare products including masks and serums. The powdered form can also be used during the production of supplements and offer better efficacy consistency. The liquid form is mostly restricted to being used in skincare items since it eases the process of absorption. Bee venom extract can cost between USD 300 to USD 600 per gram.

Recent Developments:

• In May 2022, researchers at the CSIR-Centre for Cellular and Molecular Biology (CCMB), Hyderabad, registered the potential application of bee venom extract to treat COVID-19 infection. The research committee concluded that the anti-bacterial peptides in the compound assisted in reducing the viral load of the virus
• In May 2022, scholars at Duzce University, Turkey, developed a skincare prototype using ingredients like honey, propolis, bee venom, royal jelly, and beeswax. The research study was aimed at analyzing cytotoxicity, dermalogical response, stability, and antioxidant activity along with deliverables like moisturization, skin smoothness, skin tone, wrinkle visibility, and some other parameters

Bee Venom Extract Market: Report Scope

Bee Venom Extract Market: Regional Analysis

North America to witness the highest growth

The global bee venom extract market is projected to register the highest growth in North America with the US acting as a key source of revenue. The growing interest in the research community regarding the application of bee venom extract in the pharmaceutical sector along with cosmetics & personal care products is a major growth propeller.

The pharmaceutical industry in the US is one of the most well-funded agencies and the country is leveraging its advantage to tap deeper into the potential of the global fraternity. Furthermore, the growing awareness rate amongst end-consumers could lead to more demand for bee venom extract-induced products. Europe is the second most dominant region mainly due to the rising demand for organic products and the presence of one of the strongest cosmetics industries with rising contributions from Germany, France, and the UK. The regional growth may further be driven by the growing research activities to promote the use of the product.

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Bee Venom Extract Market: Competition Analysis

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.

The global bee venom extract market is segmented as follows:

By Application

• Cosmetics & Personal Care
• Pharmaceutical

By Type

• Power
• Liquid

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa