Portland, OR, Oct. 12, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global royal jelly market generated $1.4 billion in 2021, and is projected to reach $2.1 billion by 2031, growing at a CAGR of 3.9% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $1.4 billion |
| Market Size in 2031 | $2.1 billion |
| CAGR | 3.9% |
| No. of Pages in Report | 254 |
| Segments Covered | Application, type, form, and region. |
| Drivers | Increase in the standard of living. |
| Growth of the online retail platform. | |
| Opportunities | Surge in need for nutritional products among consumers. |
| Growth of the nutritional supplement industry. | |
| Restrains | High availability of counterfeit royal jelly. |
COVID-19 Scenario:
- The outbreak of COVID-19 has had a negative impact on the growth of the global royal jelly market, owing to the occurrence of lockdowns in various countries across the globe.
- Lockdowns resulted in the closure of various manufacturing facilities, including those of jelly manufacturing, which resulted in decreased demand from the cosmetics industry. In addition, reduction in workforce and adverse supply chain disruptions further aggravated the impact on the market. These restrictions were imposed by the government to curb the spread of the virus during the pandemic.
- Furthermore, COVID-19 has had a detrimental influence on the larger economy of the affected nations, hurting economic development, the efficient operation of financial markets, foreign currency values, and interest rates.
- Changes in customer buying behaviour diminished demand for the royal jelly products, lowering sales and profitability thus harming the business. Customers' insolvency, leading to additional provisions for credit losses, lower consumer demand, including transaction delays or cancellations, and counterparty failures all had a detrimental influence on their business.
The report offers detailed segmentation of the global royal jelly market based on application, type, form, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
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Based on application, the dietary supplements segment held the largest market share in 2021, holding nearly two-fifths of the global market share, and is expected to maintain its leadership status during the forecast period. The report also includes other segments such as food and beverages, healthcare, cosmetics, and others.
Based on type, the royal jelly extract segment held the largest market share in 2021, holding nearly four-fifths of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 4.1% during the forecast period. The report also include fresh royal jelly segment.
Based on form, the capsule segment held the dominating market share in 2021, holding more than two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The gel segment, on the other hand, is expected to cite the fastest CAGR of 4.9% during the forecast period.
Based on region, the market across Asia-Pacific region held the largest market share in 2021, holding more than two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The LAMEA region, on the other hand, is expected to cite the fastest CAGR of 6.0% during the forecast period.
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The key players analyzed in the global royal jelly market report include NOW Health Group, Inc., Thompson Health, Swanson Health Products, Durham's Bee Farm, Puritan’s Pride, Nu-Health Products, Y.S. Organic Bee Farms, Solgar Inc., Source Naturals, Inc., and Yamada Bee Farm, Inc.
The report analyzes these key players in the global royal jelly market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
