Global Royal Jelly Market Size, Share & Demand Report By Product Form (Freeze-Dried, Fresh, Capsules, Tablets, Powder, Liquid Extracts), By Application (Dietary Supplements & Nutraceuticals, Pharmaceuticals, Cosmetics, Functional Food & Beverages, Infant & Medical Nutrition), By Distribution Channel (Direct Sales, Pharmacies, Health Stores, Online & D2C, B2B Ingredient Suppliers), By End-Use Industry (Healthcare, Food & Beverage, Cosmetics, Animal Nutrition, Biotechnology & Research), By Region & Segment Forecasts, 2026–2031

Report Code: RI2187PUB
Last Updated : January, 2026
Author : Hannah Blake

Table of Contents

  1. Executive Summary
    1. Introduction
  2. Market Introduction
    1. Market Definition
    2. Scope of the Study
    3. Market Structure
  3. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  4. Market Factor Analysis
    1. Value Chain Analysis: Royal Jelly Market
    2. Porters Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Dynamics
    1. Drivers
    2. Restraints
    3. Opportunities
  6. Recent Trends Analysis
  7. Impact of COVID-19 on Royal Jelly Market
    1. Pre and Post Covid -19 Market Scenario Analysis
    2. Market Recovery Timeline and Challenge
    3. Measures Taken by Top Players
  8. Regulatory Landscape
  9. Royal Jelly Market, By Product Form
    1. Introduction
      1. Market Size and Forecast, By Product Form
    2. Fresh Royal Jelly
      1. Market Size and Forecast, By Region
    3. Freeze-Dried Royal Jelly
      1. Market Size and Forecast, By Region
    4. Royal Jelly Powder
      1. Market Size and Forecast, By Region
    5. Royal Jelly Capsules & Tablets
      1. Market Size and Forecast, By Region
    6. Royal Jelly Liquid Extracts
      1. Market Size and Forecast, By Region
  10. Royal Jelly Market, By Application
    1. Introduction
      1. Market Size and Forecast, By Application
    2. Dietary Supplements & Nutraceuticals
      1. Market Size and Forecast, By Region
    3. Pharmaceutical & Therapeutic Applications
      1. Market Size and Forecast, By Region
    4. Cosmetics & Personal Care
      1. Market Size and Forecast, By Region
    5. Functional Food & Beverages
      1. Market Size and Forecast, By Region
    6. Infant Nutrition & Medical Nutrition
      1. Market Size and Forecast, By Region
  11. Royal Jelly Market, By Distribution Channel
    1. Introduction
      1. Market Size and Forecast, By Distribution Channel
    2. Direct Sales (Apiaries & Beekeepers)
      1. Market Size and Forecast, By Region
    3. Pharmacies & Drug Stores
      1. Market Size and Forecast, By Region
    4. Health & Wellness Specialty Stores
      1. Market Size and Forecast, By Region
    5. Online Retail & D2C Platforms
      1. Market Size and Forecast, By Region
    6. Food & Cosmetic Ingredient Suppliers (B2B)
      1. Market Size and Forecast, By Region
  12. Royal Jelly Market, By End-Use Industry
    1. Introduction
      1. Market Size and Forecast, By End-Use Industry
    2. Healthcare & Pharmaceuticals
      1. Market Size and Forecast, By Region
    3. Food & Beverage Industry
      1. Market Size and Forecast, By Region
    4. Cosmetics & Personal Care Industry
      1. Market Size and Forecast, By Region
    5. Animal Nutrition & Veterinary Applications
      1. Market Size and Forecast, By Region
    6. Research & Biotechnology Institutions
      1. Market Size and Forecast, By Region
  13. Regional Overview
    1. Introduction
      1. Market Size and Forecast
    2. North America
      1. Market Size and Forecast
        1. By Product Form
          1. Fresh Royal Jelly
            1. Freeze-Dried Royal Jelly
              1. Royal Jelly Powder
                1. Royal Jelly Capsules & Tablets
                  1. Royal Jelly Liquid Extracts
                  2. By Application
                    1. Dietary Supplements & Nutraceuticals
                      1. Pharmaceutical & Therapeutic Applications
                        1. Cosmetics & Personal Care
                          1. Functional Food & Beverages
                            1. Infant Nutrition & Medical Nutrition
                            2. By Distribution Channel
                              1. Direct Sales (Apiaries & Beekeepers)
                                1. Pharmacies & Drug Stores
                                  1. Health & Wellness Specialty Stores
                                    1. Online Retail & D2C Platforms
                                      1. Food & Cosmetic Ingredient Suppliers (B2B)
                                      2. By End-Use Industry
                                        1. Healthcare & Pharmaceuticals
                                          1. Food & Beverage Industry
                                            1. Cosmetics & Personal Care Industry
                                              1. Animal Nutrition & Veterinary Applications
                                                1. Research & Biotechnology Institutions
                                              2. U.S.
                                                1. By Product Form
                                                  1. Fresh Royal Jelly
                                                    1. Freeze-Dried Royal Jelly
                                                      1. Royal Jelly Powder
                                                        1. Royal Jelly Capsules & Tablets
                                                          1. Royal Jelly Liquid Extracts
                                                          2. By Application
                                                            1. Dietary Supplements & Nutraceuticals
                                                              1. Pharmaceutical & Therapeutic Applications
                                                                1. Cosmetics & Personal Care
                                                                  1. Functional Food & Beverages
                                                                    1. Infant Nutrition & Medical Nutrition
                                                                    2. By Distribution Channel
                                                                      1. Direct Sales (Apiaries & Beekeepers)
                                                                        1. Pharmacies & Drug Stores
                                                                          1. Health & Wellness Specialty Stores
                                                                            1. Online Retail & D2C Platforms
                                                                              1. Food & Cosmetic Ingredient Suppliers (B2B)
                                                                              2. By End-Use Industry
                                                                                1. Healthcare & Pharmaceuticals
                                                                                  1. Food & Beverage Industry
                                                                                    1. Cosmetics & Personal Care Industry
                                                                                      1. Animal Nutrition & Veterinary Applications
                                                                                        1. Research & Biotechnology Institutions
                                                                                      2. Canada
                                                                                    2. Europe
                                                                                      1. Market Size and Forecast
                                                                                        1. By Product Form
                                                                                          1. Fresh Royal Jelly
                                                                                            1. Freeze-Dried Royal Jelly
                                                                                              1. Royal Jelly Powder
                                                                                                1. Royal Jelly Capsules & Tablets
                                                                                                  1. Royal Jelly Liquid Extracts
                                                                                                  2. By Application
                                                                                                    1. Dietary Supplements & Nutraceuticals
                                                                                                      1. Pharmaceutical & Therapeutic Applications
                                                                                                        1. Cosmetics & Personal Care
                                                                                                          1. Functional Food & Beverages
                                                                                                            1. Infant Nutrition & Medical Nutrition
                                                                                                            2. By Distribution Channel
                                                                                                              1. Direct Sales (Apiaries & Beekeepers)
                                                                                                                1. Pharmacies & Drug Stores
                                                                                                                  1. Health & Wellness Specialty Stores
                                                                                                                    1. Online Retail & D2C Platforms
                                                                                                                      1. Food & Cosmetic Ingredient Suppliers (B2B)
                                                                                                                      2. By End-Use Industry
                                                                                                                        1. Healthcare & Pharmaceuticals
                                                                                                                          1. Food & Beverage Industry
                                                                                                                            1. Cosmetics & Personal Care Industry
                                                                                                                              1. Animal Nutrition & Veterinary Applications
                                                                                                                                1. Research & Biotechnology Institutions
                                                                                                                              2. U.K.
                                                                                                                                1. By Product Form
                                                                                                                                  1. Fresh Royal Jelly
                                                                                                                                    1. Freeze-Dried Royal Jelly
                                                                                                                                      1. Royal Jelly Powder
                                                                                                                                        1. Royal Jelly Capsules & Tablets
                                                                                                                                          1. Royal Jelly Liquid Extracts
                                                                                                                                          2. By Application
                                                                                                                                            1. Dietary Supplements & Nutraceuticals
                                                                                                                                              1. Pharmaceutical & Therapeutic Applications
                                                                                                                                                1. Cosmetics & Personal Care
                                                                                                                                                  1. Functional Food & Beverages
                                                                                                                                                    1. Infant Nutrition & Medical Nutrition
                                                                                                                                                    2. By Distribution Channel
                                                                                                                                                      1. Direct Sales (Apiaries & Beekeepers)
                                                                                                                                                        1. Pharmacies & Drug Stores
                                                                                                                                                          1. Health & Wellness Specialty Stores
                                                                                                                                                            1. Online Retail & D2C Platforms
                                                                                                                                                              1. Food & Cosmetic Ingredient Suppliers (B2B)
                                                                                                                                                              2. By End-Use Industry
                                                                                                                                                                1. Healthcare & Pharmaceuticals
                                                                                                                                                                  1. Food & Beverage Industry
                                                                                                                                                                    1. Cosmetics & Personal Care Industry
                                                                                                                                                                      1. Animal Nutrition & Veterinary Applications
                                                                                                                                                                        1. Research & Biotechnology Institutions
                                                                                                                                                                      2. Germany
                                                                                                                                                                      3. France
                                                                                                                                                                      4. Spain
                                                                                                                                                                      5. Italy
                                                                                                                                                                      6. Russia
                                                                                                                                                                      7. Nordic
                                                                                                                                                                      8. Benelux
                                                                                                                                                                      9. Rest of Europe
                                                                                                                                                                    2. APAC
                                                                                                                                                                      1. Market Size and Forecast
                                                                                                                                                                        1. By Product Form
                                                                                                                                                                          1. Fresh Royal Jelly
                                                                                                                                                                            1. Freeze-Dried Royal Jelly
                                                                                                                                                                              1. Royal Jelly Powder
                                                                                                                                                                                1. Royal Jelly Capsules & Tablets
                                                                                                                                                                                  1. Royal Jelly Liquid Extracts
                                                                                                                                                                                  2. By Application
                                                                                                                                                                                    1. Dietary Supplements & Nutraceuticals
                                                                                                                                                                                      1. Pharmaceutical & Therapeutic Applications
                                                                                                                                                                                        1. Cosmetics & Personal Care
                                                                                                                                                                                          1. Functional Food & Beverages
                                                                                                                                                                                            1. Infant Nutrition & Medical Nutrition
                                                                                                                                                                                            2. By Distribution Channel
                                                                                                                                                                                              1. Direct Sales (Apiaries & Beekeepers)
                                                                                                                                                                                                1. Pharmacies & Drug Stores
                                                                                                                                                                                                  1. Health & Wellness Specialty Stores
                                                                                                                                                                                                    1. Online Retail & D2C Platforms
                                                                                                                                                                                                      1. Food & Cosmetic Ingredient Suppliers (B2B)
                                                                                                                                                                                                      2. By End-Use Industry
                                                                                                                                                                                                        1. Healthcare & Pharmaceuticals
                                                                                                                                                                                                          1. Food & Beverage Industry
                                                                                                                                                                                                            1. Cosmetics & Personal Care Industry
                                                                                                                                                                                                              1. Animal Nutrition & Veterinary Applications
                                                                                                                                                                                                                1. Research & Biotechnology Institutions
                                                                                                                                                                                                              2. China
                                                                                                                                                                                                                1. By Product Form
                                                                                                                                                                                                                  1. Fresh Royal Jelly
                                                                                                                                                                                                                    1. Freeze-Dried Royal Jelly
                                                                                                                                                                                                                      1. Royal Jelly Powder
                                                                                                                                                                                                                        1. Royal Jelly Capsules & Tablets
                                                                                                                                                                                                                          1. Royal Jelly Liquid Extracts
                                                                                                                                                                                                                          2. By Application
                                                                                                                                                                                                                            1. Dietary Supplements & Nutraceuticals
                                                                                                                                                                                                                              1. Pharmaceutical & Therapeutic Applications
                                                                                                                                                                                                                                1. Cosmetics & Personal Care
                                                                                                                                                                                                                                  1. Functional Food & Beverages
                                                                                                                                                                                                                                    1. Infant Nutrition & Medical Nutrition
                                                                                                                                                                                                                                    2. By Distribution Channel
                                                                                                                                                                                                                                      1. Direct Sales (Apiaries & Beekeepers)
                                                                                                                                                                                                                                        1. Pharmacies & Drug Stores
                                                                                                                                                                                                                                          1. Health & Wellness Specialty Stores
                                                                                                                                                                                                                                            1. Online Retail & D2C Platforms
                                                                                                                                                                                                                                              1. Food & Cosmetic Ingredient Suppliers (B2B)
                                                                                                                                                                                                                                              2. By End-Use Industry
                                                                                                                                                                                                                                                1. Healthcare & Pharmaceuticals
                                                                                                                                                                                                                                                  1. Food & Beverage Industry
                                                                                                                                                                                                                                                    1. Cosmetics & Personal Care Industry
                                                                                                                                                                                                                                                      1. Animal Nutrition & Veterinary Applications
                                                                                                                                                                                                                                                        1. Research & Biotechnology Institutions
                                                                                                                                                                                                                                                      2. Korea
                                                                                                                                                                                                                                                      3. Japan
                                                                                                                                                                                                                                                      4. India
                                                                                                                                                                                                                                                      5. Australia
                                                                                                                                                                                                                                                      6. Singapore
                                                                                                                                                                                                                                                      7. Taiwan
                                                                                                                                                                                                                                                      8. South East Asia
                                                                                                                                                                                                                                                      9. Rest of Asia-Pacific
                                                                                                                                                                                                                                                    2. Middle East and Africa
                                                                                                                                                                                                                                                      1. Market Size and Forecast
                                                                                                                                                                                                                                                        1. By Product Form
                                                                                                                                                                                                                                                          1. Fresh Royal Jelly
                                                                                                                                                                                                                                                            1. Freeze-Dried Royal Jelly
                                                                                                                                                                                                                                                              1. Royal Jelly Powder
                                                                                                                                                                                                                                                                1. Royal Jelly Capsules & Tablets
                                                                                                                                                                                                                                                                  1. Royal Jelly Liquid Extracts
                                                                                                                                                                                                                                                                  2. By Application
                                                                                                                                                                                                                                                                    1. Dietary Supplements & Nutraceuticals
                                                                                                                                                                                                                                                                      1. Pharmaceutical & Therapeutic Applications
                                                                                                                                                                                                                                                                        1. Cosmetics & Personal Care
                                                                                                                                                                                                                                                                          1. Functional Food & Beverages
                                                                                                                                                                                                                                                                            1. Infant Nutrition & Medical Nutrition
                                                                                                                                                                                                                                                                            2. By Distribution Channel
                                                                                                                                                                                                                                                                              1. Direct Sales (Apiaries & Beekeepers)
                                                                                                                                                                                                                                                                                1. Pharmacies & Drug Stores
                                                                                                                                                                                                                                                                                  1. Health & Wellness Specialty Stores
                                                                                                                                                                                                                                                                                    1. Online Retail & D2C Platforms
                                                                                                                                                                                                                                                                                      1. Food & Cosmetic Ingredient Suppliers (B2B)
                                                                                                                                                                                                                                                                                      2. By End-Use Industry
                                                                                                                                                                                                                                                                                        1. Healthcare & Pharmaceuticals
                                                                                                                                                                                                                                                                                          1. Food & Beverage Industry
                                                                                                                                                                                                                                                                                            1. Cosmetics & Personal Care Industry
                                                                                                                                                                                                                                                                                              1. Animal Nutrition & Veterinary Applications
                                                                                                                                                                                                                                                                                                1. Research & Biotechnology Institutions
                                                                                                                                                                                                                                                                                              2. UAE
                                                                                                                                                                                                                                                                                                1. By Product Form
                                                                                                                                                                                                                                                                                                  1. Fresh Royal Jelly
                                                                                                                                                                                                                                                                                                    1. Freeze-Dried Royal Jelly
                                                                                                                                                                                                                                                                                                      1. Royal Jelly Powder
                                                                                                                                                                                                                                                                                                        1. Royal Jelly Capsules & Tablets
                                                                                                                                                                                                                                                                                                          1. Royal Jelly Liquid Extracts
                                                                                                                                                                                                                                                                                                          2. By Application
                                                                                                                                                                                                                                                                                                            1. Dietary Supplements & Nutraceuticals
                                                                                                                                                                                                                                                                                                              1. Pharmaceutical & Therapeutic Applications
                                                                                                                                                                                                                                                                                                                1. Cosmetics & Personal Care
                                                                                                                                                                                                                                                                                                                  1. Functional Food & Beverages
                                                                                                                                                                                                                                                                                                                    1. Infant Nutrition & Medical Nutrition
                                                                                                                                                                                                                                                                                                                    2. By Distribution Channel
                                                                                                                                                                                                                                                                                                                      1. Direct Sales (Apiaries & Beekeepers)
                                                                                                                                                                                                                                                                                                                        1. Pharmacies & Drug Stores
                                                                                                                                                                                                                                                                                                                          1. Health & Wellness Specialty Stores
                                                                                                                                                                                                                                                                                                                            1. Online Retail & D2C Platforms
                                                                                                                                                                                                                                                                                                                              1. Food & Cosmetic Ingredient Suppliers (B2B)
                                                                                                                                                                                                                                                                                                                              2. By End-Use Industry
                                                                                                                                                                                                                                                                                                                                1. Healthcare & Pharmaceuticals
                                                                                                                                                                                                                                                                                                                                  1. Food & Beverage Industry
                                                                                                                                                                                                                                                                                                                                    1. Cosmetics & Personal Care Industry
                                                                                                                                                                                                                                                                                                                                      1. Animal Nutrition & Veterinary Applications
                                                                                                                                                                                                                                                                                                                                        1. Research & Biotechnology Institutions
                                                                                                                                                                                                                                                                                                                                      2. Turky
                                                                                                                                                                                                                                                                                                                                      3. Saudi Arabia
                                                                                                                                                                                                                                                                                                                                      4. South Africa
                                                                                                                                                                                                                                                                                                                                      5. Egypt
                                                                                                                                                                                                                                                                                                                                      6. Nigeria
                                                                                                                                                                                                                                                                                                                                      7. Rest of MEA
                                                                                                                                                                                                                                                                                                                                    2. LATAM
                                                                                                                                                                                                                                                                                                                                      1. Market Size and Forecast
                                                                                                                                                                                                                                                                                                                                        1. By Product Form
                                                                                                                                                                                                                                                                                                                                          1. Fresh Royal Jelly
                                                                                                                                                                                                                                                                                                                                            1. Freeze-Dried Royal Jelly
                                                                                                                                                                                                                                                                                                                                              1. Royal Jelly Powder
                                                                                                                                                                                                                                                                                                                                                1. Royal Jelly Capsules & Tablets
                                                                                                                                                                                                                                                                                                                                                  1. Royal Jelly Liquid Extracts
                                                                                                                                                                                                                                                                                                                                                  2. By Application
                                                                                                                                                                                                                                                                                                                                                    1. Dietary Supplements & Nutraceuticals
                                                                                                                                                                                                                                                                                                                                                      1. Pharmaceutical & Therapeutic Applications
                                                                                                                                                                                                                                                                                                                                                        1. Cosmetics & Personal Care
                                                                                                                                                                                                                                                                                                                                                          1. Functional Food & Beverages
                                                                                                                                                                                                                                                                                                                                                            1. Infant Nutrition & Medical Nutrition
                                                                                                                                                                                                                                                                                                                                                            2. By Distribution Channel
                                                                                                                                                                                                                                                                                                                                                              1. Direct Sales (Apiaries & Beekeepers)
                                                                                                                                                                                                                                                                                                                                                                1. Pharmacies & Drug Stores
                                                                                                                                                                                                                                                                                                                                                                  1. Health & Wellness Specialty Stores
                                                                                                                                                                                                                                                                                                                                                                    1. Online Retail & D2C Platforms
                                                                                                                                                                                                                                                                                                                                                                      1. Food & Cosmetic Ingredient Suppliers (B2B)
                                                                                                                                                                                                                                                                                                                                                                      2. By End-Use Industry
                                                                                                                                                                                                                                                                                                                                                                        1. Healthcare & Pharmaceuticals
                                                                                                                                                                                                                                                                                                                                                                          1. Food & Beverage Industry
                                                                                                                                                                                                                                                                                                                                                                            1. Cosmetics & Personal Care Industry
                                                                                                                                                                                                                                                                                                                                                                              1. Animal Nutrition & Veterinary Applications
                                                                                                                                                                                                                                                                                                                                                                                1. Research & Biotechnology Institutions
                                                                                                                                                                                                                                                                                                                                                                              2. Brazil
                                                                                                                                                                                                                                                                                                                                                                                1. By Product Form
                                                                                                                                                                                                                                                                                                                                                                                  1. Fresh Royal Jelly
                                                                                                                                                                                                                                                                                                                                                                                    1. Freeze-Dried Royal Jelly
                                                                                                                                                                                                                                                                                                                                                                                      1. Royal Jelly Powder
                                                                                                                                                                                                                                                                                                                                                                                        1. Royal Jelly Capsules & Tablets
                                                                                                                                                                                                                                                                                                                                                                                          1. Royal Jelly Liquid Extracts
                                                                                                                                                                                                                                                                                                                                                                                          2. By Application
                                                                                                                                                                                                                                                                                                                                                                                            1. Dietary Supplements & Nutraceuticals
                                                                                                                                                                                                                                                                                                                                                                                              1. Pharmaceutical & Therapeutic Applications
                                                                                                                                                                                                                                                                                                                                                                                                1. Cosmetics & Personal Care
                                                                                                                                                                                                                                                                                                                                                                                                  1. Functional Food & Beverages
                                                                                                                                                                                                                                                                                                                                                                                                    1. Infant Nutrition & Medical Nutrition
                                                                                                                                                                                                                                                                                                                                                                                                    2. By Distribution Channel
                                                                                                                                                                                                                                                                                                                                                                                                      1. Direct Sales (Apiaries & Beekeepers)
                                                                                                                                                                                                                                                                                                                                                                                                        1. Pharmacies & Drug Stores
                                                                                                                                                                                                                                                                                                                                                                                                          1. Health & Wellness Specialty Stores
                                                                                                                                                                                                                                                                                                                                                                                                            1. Online Retail & D2C Platforms
                                                                                                                                                                                                                                                                                                                                                                                                              1. Food & Cosmetic Ingredient Suppliers (B2B)
                                                                                                                                                                                                                                                                                                                                                                                                              2. By End-Use Industry
                                                                                                                                                                                                                                                                                                                                                                                                                1. Healthcare & Pharmaceuticals
                                                                                                                                                                                                                                                                                                                                                                                                                  1. Food & Beverage Industry
                                                                                                                                                                                                                                                                                                                                                                                                                    1. Cosmetics & Personal Care Industry
                                                                                                                                                                                                                                                                                                                                                                                                                      1. Animal Nutrition & Veterinary Applications
                                                                                                                                                                                                                                                                                                                                                                                                                        1. Research & Biotechnology Institutions
                                                                                                                                                                                                                                                                                                                                                                                                                      2. Mexico
                                                                                                                                                                                                                                                                                                                                                                                                                      3. Argentina
                                                                                                                                                                                                                                                                                                                                                                                                                      4. Chile
                                                                                                                                                                                                                                                                                                                                                                                                                      5. Colombia
                                                                                                                                                                                                                                                                                                                                                                                                                      6. Rest of LATAM
                                                                                                                                                                                                                                                                                                                                                                                                                  2. Competitive Landscape, 2025
                                                                                                                                                                                                                                                                                                                                                                                                                    1. Introduction
                                                                                                                                                                                                                                                                                                                                                                                                                    2. Royal Jelly Market Share Analysis, 2025 (%)
                                                                                                                                                                                                                                                                                                                                                                                                                      1. Market Share Analysis, 2025
                                                                                                                                                                                                                                                                                                                                                                                                                      2. Competition Ranking, 2025
                                                                                                                                                                                                                                                                                                                                                                                                                      3. Key Developments & Growth Strategies
                                                                                                                                                                                                                                                                                                                                                                                                                        1. Merger & Acquisition
                                                                                                                                                                                                                                                                                                                                                                                                                        2. Product Launch
                                                                                                                                                                                                                                                                                                                                                                                                                        3. Expansion
                                                                                                                                                                                                                                                                                                                                                                                                                      4. Consolidated SWOT Analysis of Key Players
                                                                                                                                                                                                                                                                                                                                                                                                                  3. Company Profile
                                                                                                                                                                                                                                                                                                                                                                                                                    1. YS Royal Jelly
                                                                                                                                                                                                                                                                                                                                                                                                                      1. Business Overview
                                                                                                                                                                                                                                                                                                                                                                                                                      2. Financial Data
                                                                                                                                                                                                                                                                                                                                                                                                                      3. Key Product domains
                                                                                                                                                                                                                                                                                                                                                                                                                      4. Recent Developments
                                                                                                                                                                                                                                                                                                                                                                                                                    2. API Co., Ltd.
                                                                                                                                                                                                                                                                                                                                                                                                                    3. Jiangshan Bee Enterprise
                                                                                                                                                                                                                                                                                                                                                                                                                    4. Beijing Tongrentang
                                                                                                                                                                                                                                                                                                                                                                                                                    5. Comvita
                                                                                                                                                                                                                                                                                                                                                                                                                    6. NOW Health Group
                                                                                                                                                                                                                                                                                                                                                                                                                    7. Swisse Wellness
                                                                                                                                                                                                                                                                                                                                                                                                                    8. Melbros
                                                                                                                                                                                                                                                                                                                                                                                                                    9. Blackmores
                                                                                                                                                                                                                                                                                                                                                                                                                    10. Natura Siberica