Current Scenario of the Bee Venom Extract Market

Today, the bee venom extract market is advancing at a sustained rate. This is because of the growing awareness of its health benefits and other applications. Apitoxin Therapy (bee venom therapy) is apparently becoming a complementary treatment using this venom for several medical conditions, which drives the market forward. Moreover, the continued efforts to present its biological activities have got the interest of scientific circles in the world. Consequently, several studies have discovered beneficial impacts brought by natural items on human health in the past few years. Additionally, because of rising use in cosmetics and other products, and in the pharmaceutical industry, its demand has surged in the past few years in countries like Japan, Spain, Canada, the United States, South Korea, Germany, and the United Kingdom.

Drivers

Rising inclination towards natural remedies backed by scientific research coupled with technological developments is fuelling the growth of the bee venom extract market. The increasing use of herbs and other organic medicines for self-treatment by people or patients has forced companies to introduce such products and solutions in the market. The recent revival of interest of the general public in natural treatment has been attributed to various factors, including, several claims on the effectiveness of these remedies, customers favouring this type of therapy and a higher interest in substitute medicines, etc. Apart from these, another reason behind this growing inclination is the global shift to organic and natural products, propelled by worries regarding the side effects of artificial medications.

Restraints

Lack of awareness is one of the primary challenges for the expansion of the bee venom extracts market. According to the Open Journal of Biological Science, a key problem encountered during the application of bee items as medicine is the lack of cognizance as it was stated by about 28.8 per cent of the participants.

Shortage of shots or doses of extracts is another factor hindering the market growth. The dependence on beekeepers could be a reason behind this. The supply of this venom relies on apiculturists, which can be affected by factors such as diseases, pests, and conditions. Therefore, both factors are impeding the growth of the market.

Segment Analysis

By Application

• Cosmetic and Personal Care
• Pharmaceutical

The cosmetic and personal care segment commands the bee venom extracts market and is expected to expand further during the forecast period. A shift towards natural ingredients by consumers, along with higher disposable income and increasing popularity of anti-ageing solutions, which is majorly fuelling the growth of the segment’s market share in the world. Whereas, the pharmaceutical segment holds a significant portion of this market and is projected to swiftly move forward throughout the estimation period. This is because bee therapy is easy to use, accessible, and simple pharmaceutical that is utilised in traditional medicines and remedies and has the ability to treat a range of diseases.

By Form

• Liquid
• Powder

The liquid segment dominates under this category, accounting for a substantial share of the bee venom extracts market. This prominence can be credited to its ability to absorb better. It is this feature that makes it suitable for use in the therapeutic, skin care and other cosmetic products.  Besides this, the liquid form also provides higher flexibility in product or solution formulation, contributing to the expansion of the market size of this segment. Also, it can be effortlessly incorporated into a wide range of items, like lotion, serums, and creams, without the need for comprehensive processing. Additionally, its prolonged shelf life has driven the interest of brands and companies towards itself. Their lower probability to degrade or deteriorate in comparison to powdered form which can be impacted by environmental factors and moisture.

Regional Analysis

North America continues to maintain its influence over the global bee venom extract market and is projected to witness further growth throughout the estimation period. The United States is leading the regional market and is the biggest consumer in North America. According to the Study published by Bee Culture, in 2022, the production of honey in the US totalled around 125 million pounds and 2.67 million colonies are there which produce honey. This shows the significance and concentration of the bee industry. Another factor accelerating the region’s market size is the high number of research projects and investments in technological advancements.

Recent Market Developments

·       In August 2024, it was reported that beekeepers in Kenya are shifting away from conventional honey production to explore the expanding market for bee venom, which is becoming increasingly popular in alternative medicine.

RELATED REPORTS

Antivenom Market

 Beekeeping Market

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