Asiaticoside

Asiaticoside Market Outlook

The global Asiaticoside market is anticipated to reach USD 350 million by 2035, growing at a CAGR of 6.1% during the forecast period from 2025 to 2035. The increasing awareness regarding the health benefits associated with Asiaticoside, particularly its antioxidant and anti-inflammatory properties, is a significant growth factor driving the market. Additionally, the rising demand for natural and plant-based ingredients in pharmaceuticals, cosmetics, and nutraceuticals is leading to a surge in the popularity of Asiaticoside. As consumers increasingly turn to herbal alternatives for health and beauty products, this trend is likely to further propel market growth. Furthermore, the expanding research initiatives highlighting the therapeutic uses of Asiaticoside in treating various ailments are also contributing to the market's robust expansion.

Growth Factor of the Market

The Asiaticoside market is benefiting from a variety of growth factors that contribute to its expansion. Firstly, the increasing trend of adopting natural and organic ingredients in various sectors is fostering a strong demand for Asiaticoside, especially in cosmetics and nutraceuticals. The awareness regarding the harmful effects of synthetic chemicals encourages consumers to opt for products that utilize natural extracts. Secondly, the pharmaceutical industry is leveraging the potential of Asiaticoside for its therapeutic properties, such as wound healing and skin rejuvenation, which are gaining traction among healthcare providers and patients alike. Thirdly, innovation in product formulations that combine Asiaticoside with other beneficial ingredients is enhancing its application spectrum and appeal. Fourthly, the growing adoption of e-commerce platforms is facilitating greater access to Asiaticoside products, leading to increased market penetration. Lastly, favorable government regulations regarding herbal products are creating a conducive environment for market growth.

Key Highlights of the Market

• Projected market size of USD 350 million by 2035
• CAGR of 6.1% from 2025 to 2035
• Rising demand for natural ingredients in pharmaceuticals and cosmetics
• Increasing research on therapeutic benefits of Asiaticoside
• Expansion of distribution channels, especially online stores

By Product Type

Pharmaceutical Grade Asiaticoside:

Pharmaceutical grade Asiaticoside is a key segment of the market, primarily used in medicinal formulations for its therapeutic properties. This grade is characterized by its high purity and strict adherence to regulatory standards, making it suitable for use in pharmaceuticals. Its applications include wound healing, skin treatments, and anti-aging formulations. The growing emphasis on herbal medicine and the increasing acceptance of plant-based treatments are driving the demand for pharmaceutical-grade products. Additionally, the rising prevalence of chronic diseases and the corresponding need for effective herbal remedies are further propelling this segment's growth.

Cosmetic Grade Asiaticoside:

Cosmetic grade Asiaticoside is gaining traction in the beauty and skincare industry due to its skin-rejuvenating properties. This grade is utilized in various cosmetic formulations, including creams, serums, and lotions, targeting issues like aging, pigmentation, and inflammation. As consumers become more aware of the potential risks associated with synthetic ingredients, there is a growing preference for natural components. The ability of Asiaticoside to promote collagen synthesis and enhance skin hydration makes it an attractive ingredient for cosmetic manufacturers. This segment is expected to witness significant growth due to the increasing demand for clean label products and the trend of integrating botanical ingredients into skincare.

Food Grade Asiaticoside:

Food grade Asiaticoside is utilized in the food and beverage industry, recognized for its antioxidant properties that help preserve the quality of food products. This grade is often incorporated into functional foods and beverages that promote health benefits, such as improving digestion and boosting immunity. The rising consumer interest in health and wellness is resulting in higher demand for natural food additives. Furthermore, food manufacturers are increasingly looking for clean label alternatives to synthetic preservatives, further enhancing the appeal of food-grade Asiaticoside. This segment is expected to rise as more consumers seek out nutritional products with added health benefits.

Nutraceutical Grade Asiaticoside:

Nutraceutical grade Asiaticoside is gaining popularity as a dietary supplement due to its various health benefits, including anti-inflammatory and antioxidant effects. This grade is commonly found in capsules, tablets, and functional foods, appealing to health-conscious consumers. The increasing trend of self-medication and the preference for preventive healthcare solutions are driving the growth of this segment. Additionally, the awareness surrounding the importance of mental and physical health is motivating individuals to seek out dietary supplements that support overall well-being. This growing consumer inclination towards nutraceuticals is expected to significantly boost the market for this category.

Other Grades:

This category encompasses various specialized Asiaticoside grades that cater to niche markets or specific applications beyond the primary segments. These may include specific purity levels tailored for research and development or unique formulations designed for particular therapeutic applications. The flexibility and adaptability of these products allow for targeted marketing strategies, appealing to specific consumer bases or sectors. The innovation in formulations and the emphasis on customized products are anticipated to drive growth in this segment as niche markets continue to expand.

By Application

Pharmaceuticals:

The pharmaceuticals segment represents a significant portion of the Asiaticoside market as it is increasingly recognized for its health benefits. Asiaticoside is used in various medicinal formulations to treat conditions such as ulcers, scars, and skin disorders due to its wound healing and anti-inflammatory properties. The shift towards herbal medicine and the growing acceptance of plant-based treatments are propelling this segment's growth. Additionally, the expansion of research activities focused on the therapeutic potential of Asiaticoside is likely to create new opportunities within the pharmaceutical sector.

Cosmetics:

In the cosmetics application segment, Asiaticoside is gaining immense popularity due to its skin-enhancing properties. It is incorporated into a variety of skincare products aimed at improving skin elasticity, reducing wrinkles, and promoting an even skin tone. The growing trend of clean beauty and the increasing consumer preference for natural and organic ingredients are driving the demand for Asiaticoside in cosmetics. As cosmetic manufacturers strive to formulate products that resonate with environmentally-conscious consumers, the incorporation of Asiaticoside is expected to rise, leading to further market growth.

Food & Beverages:

The food and beverage segment is significantly leveraging Asiaticoside for its preservative and health-enhancing properties. As consumers become more health-conscious, the demand for functional foods that offer added nutritional benefits is increasing. Asiaticoside is often used in health drinks and natural food products aimed at promoting overall wellness and vitality. The trend of incorporating natural ingredients into food formulations is expected to strengthen this segment, as more consumers seek out products that support a healthy lifestyle.

Nutraceuticals:

Asiaticoside has carved a niche in the nutraceuticals market, where it is recognized for its numerous health benefits. This segment includes dietary supplements that harness the anti-inflammatory and antioxidant properties of Asiaticoside to promote health and wellness. The increasing adoption of preventive healthcare measures is driving the demand for nutraceutical products, as more individuals seek to enhance their overall health through dietary supplements. This growth is further fueled by the rise in self-directed health management, making nutraceuticals an attractive segment for Asiaticoside.

Others:

The "Others" category encompasses various applications of Asiaticoside that do not fit squarely within the aforementioned segments. This can include applications in traditional medicine, veterinary formulations, or other specialized uses that cater to specific consumer needs. As research continues to unveil the potential benefits of Asiaticoside, the range of applications is expected to diversify, leading to an expansion of market opportunities. Additionally, the ability to customize formulations for unique applications may drive interest from various industries, further contributing to market growth.

By Distribution Channel

Online Stores:

Online stores are rapidly becoming a preferred distribution channel for Asiaticoside products, offering convenience and a wide range of options for consumers. The growth of e-commerce has transformed the way consumers shop for health and beauty products, allowing them to access a variety of brands and formulations from the comfort of their homes. This trend is particularly important for niche products like Asiaticoside, where consumers may seek specialized formulations that are not readily available in traditional retail settings. The increasing penetration of internet services and mobile commerce is expected to significantly boost sales through online platforms.

Supermarkets/Hypermarkets:

Supermarkets and hypermarkets play a crucial role in the distribution of Asiaticoside products, providing a physical space where consumers can browse and purchase a variety of brands under one roof. This channel is particularly significant for food and beverage products containing Asiaticoside, as consumers often prefer to purchase such items during their regular grocery shopping. The one-stop-shop experience that supermarkets offer enhances consumer convenience, making it easier to access health and wellness products. As more health-conscious consumers seek out such products, this segment is expected to witness steady growth.

Specialty Stores:

Specialty stores, focusing on natural and organic products, have become important distribution channels for Asiaticoside. These stores cater to a specific consumer base that prioritizes health and wellness, providing products that align with their lifestyle choices. The knowledgeable staff and curated product selections in specialty stores offer consumers guidance in choosing the right Asiaticoside formulations for their needs. The rising trend of health consciousness is likely to drive more consumers towards specialty stores, as they seek out high-quality, natural ingredients.

Pharmacies/Drugstores:

Pharmacies and drugstores are significant points of distribution for pharmaceutical-grade Asiaticoside products, where consumers seek out medicinal formulations for health-related concerns. These establishments act as trusted sources for health products, providing consumers with the assurance of quality and efficacy. As the acceptance of herbal remedies grows, pharmacies are expanding their offerings to include more natural and plant-based products. This channel is expected to grow as more consumers turn to holistic solutions for their health needs, driving sales of Asiaticoside in the process.

By Ingredient Type

Asiaticoside 95%:

Asiaticoside 95% represents a significant segment of the market, widely used in various applications due to its effective concentration level. This purity level is often utilized in cosmetic products, pharmaceuticals, and nutraceuticals, providing a balanced potency that delivers the desired health benefits. The growing demand for products with a reliable concentration of active ingredients is driving the popularity of this purity level. As consumers become more informed, they increasingly seek formulations that guarantee quality and efficacy, further propelling the growth of Asiaticoside 95% in the market.

Asiaticoside 98%:

Asiaticoside 98% is utilized for its elevated purity and effectiveness, making it a preferred choice in premium formulations across various industries. The increased concentration enhances its therapeutic properties, appealing to both manufacturers and consumers seeking powerful health benefits. The demand for high-purity ingredients in pharmaceuticals and nutraceuticals is expected to drive growth in this segment. Furthermore, the trend towards clean label products and natural ingredients is likely to increase the appeal of Asiaticoside 98%, as consumers prioritize quality and safety in their health-related purchases.

Asiaticoside 99%:

This segment features the highest concentration of Asiaticoside, making it a popular choice for specialized formulations requiring maximal potency. Asiaticoside 99% is often employed in clinical and research applications where precise dosages are essential. The rigorous quality controls associated with this purity level ensure that it meets the stringent requirements of various industries, particularly in pharmaceuticals and nutraceuticals. As the demand for highly potent ingredients continues to rise, the market for Asiaticoside 99% is expected to see significant growth, driven by the increasing interest in effective herbal solutions.

Asiaticoside 90%:

Asiaticoside 90% serves as a cost-effective alternative for manufacturers looking for a balance between efficacy and pricing. This purity level is often used in various applications where ultra-high concentrations are not necessary, allowing for broader accessibility in the market. The demand for Asiaticoside 90% is likely to grow as more companies seek to introduce products at competitive price points while ensuring that consumers still receive the benefits associated with Asiaticoside. This segment is expected to flourish as the market continues to diversify.

Other Purity Levels:

The category of other purity levels encompasses various concentrations of Asiaticoside that cater to specific consumer needs or applications. These may include customized formulations developed for niche markets or research purposes. As the flexibility in ingredient sourcing and formulation becomes increasingly important, the segment of other purity levels is expected to grow. The ability to meet the unique requirements of different consumer bases will drive innovation and expand the range of offerings within this market segment.

By Region

The Asiaticoside market exhibits a diverse regional landscape, with Asia Pacific leading in terms of both production and consumption. The region accounted for over 40% of the global market share in 2023, primarily due to the rich biodiversity that supports the cultivation of Centella Asiatica, the primary source of Asiaticoside. Additionally, the growing awareness of herbal remedies among the population and the increasing investment in research and development further fuel the demand in this region. The CAGR for the Asia Pacific region is expected to be around 7.5%, reflecting the robust growth potential driven by both local demand and export opportunities.

North America follows as a significant market, holding approximately 30% of the global share. The region benefits from a well-established pharmaceutical and cosmetic industry that is increasingly incorporating natural ingredients into their formulations. The rising consumer interest in health and wellness, coupled with the growing trend of clean label products, is anticipated to propel the demand for Asiaticoside. Europe also represents a substantial share of the market, with a focus on regulatory compliance and sustainable sourcing of herbal ingredients. As the interest in herbal healthcare continues to rise globally, the Asiaticoside market is expected to see growth across all regions, though the dynamics may vary based on consumer preferences and regulatory frameworks.

Opportunities

The Asiaticoside market presents myriad opportunities for growth, especially as health-conscious consumers increasingly turn to natural and herbal ingredients. The burgeoning trend of clean beauty is opening doors for cosmetic manufacturers to incorporate Asiaticoside into their formulations, thereby catering to the demand for products that are both effective and environmentally friendly. As consumers prioritize transparency and sustainability, companies that can position their Asiaticoside products as clean label and ethically sourced stand to gain a competitive edge. Moreover, the expansion of e-commerce platforms further enhances accessibility for consumers seeking specialized health and beauty products, thereby increasing market penetration. The rise of social media and influencer marketing also serves as a potent tool for companies to create awareness and generate interest in their Asiaticoside offerings.

Another significant opportunity lies in the realm of research and development. The growing body of evidence supporting the health benefits of Asiaticoside is paving the way for its incorporation into new applications, particularly in pharmaceuticals and nutraceuticals. As researchers continue to explore its therapeutic potential, there is a growing possibility for Asiaticoside to be utilized in innovative formulations targeting emerging health issues. Furthermore, collaboration between researchers, manufacturers, and healthcare providers could lead to the development of cutting-edge products that resonate with consumers' evolving health needs. This synergy is likely to create new revenue streams and bolster market growth in the years to come.

Threats

Despite the promising outlook for the Asiaticoside market, there are potential threats that could impede its growth trajectory. One of the primary concerns is the increasing competition from synthetic alternatives that offer similar health benefits without the variability and sourcing issues associated with natural ingredients. As synthetic substitutes become more advanced, they could attract consumers looking for consistency and affordability in their products. Additionally, regulatory challenges related to the sourcing and marketing of herbal ingredients may pose hurdles for manufacturers trying to enter or expand in specific markets. Striking a balance between complying with regulations and maintaining product efficacy can be a daunting task for companies.

Another critical threat comes from the volatility in raw material prices, particularly for Centella Asiatica, the primary source of Asiaticoside. Adverse weather conditions, changes in agricultural practices, and shifts in demand can lead to fluctuations in availability and pricing, which may impact production costs for manufacturers. These uncertainties could force companies to either absorb increased costs or pass them on to consumers, potentially affecting sales and profitability. Additionally, consumer trends can shift rapidly; thus, companies must stay agile to adapt to changing preferences and behaviors to sustain their market presence.

Competitor Outlook

• Naturex
• Indena S.p.A
• Givaudan
• Herbalife Nutrition Ltd.
• NutraGreen Biotechnology Co., Ltd.
• Phytolife Biotechnology
• Wacker Chemie AG
• Hunan Sunshine Bio-Tech Co., Ltd.
• Sabinsa Corporation
• Forever Living Products
• Galaxy Surfactants Ltd.
• Hunan Green Valley Pharmaceutical Co., Ltd.
• Swanson Health Products
• Herbochem Ltd.
• Jiaherb Inc.

The competitive landscape of the Asiaticoside market is characterized by a blend of established companies and emerging players, each vying to capture market share through innovation, quality, and customer engagement. Established firms such as Naturex and Indena S.p.A have substantial resources and expertise in sourcing high-quality natural ingredients, allowing them to dominate the market. Their robust supply chains and extensive distribution networks enable them to cater effectively to diverse consumer needs across various applications. This competitive advantage is further bolstered by their commitment to research and development, ensuring that they stay ahead of industry trends and consumer preferences.

Emerging players like Hunan Sunshine Bio-Tech Co. and NutraGreen Biotechnology are increasingly making their mark by focusing on niche markets and specialized formulations. Their agility and innovative approaches allow them to develop unique products that resonate with health-conscious consumers. Moreover, as the demand for herbal and natural products surges, these companies are well-positioned to leverage their expertise in plant-based ingredients to expand their market presence. Collaboration with local farmers and sustainable sourcing practices are also becoming key differentiators for these emerging players, enhancing their appeal to environmentally conscious consumers.

Key companies like Givaudan and Herbalife Nutrition Ltd. are also strategically diversifying their product offerings to include Asiaticoside as part of their commitment to clean label and wellness products. These companies are actively investing in marketing strategies that highlight the health benefits of their offerings, further driving consumer awareness and interest. The collaboration between large corporations and small-scale suppliers is also fostering innovation, allowing for the development of unique and effective formulations that cater to the evolving demands of the market. As the Asiaticoside market continues to grow, the competitive dynamics are expected to evolve, driven by innovation, sustainability, and changing consumer preferences.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 Naturex
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Givaudan
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Indena S.p.A
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Jiaherb Inc.
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 Herbochem Ltd.
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Wacker Chemie AG
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Sabinsa Corporation
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Forever Living Products
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 Galaxy Surfactants Ltd.
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Phytolife Biotechnology
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Swanson Health Products
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Herbalife Nutrition Ltd.
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Hunan Sunshine Bio-Tech Co., Ltd.
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 NutraGreen Biotechnology Co., Ltd.
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Hunan Green Valley Pharmaceutical Co., Ltd.
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Asiaticoside Market, By Application
    • 6.1.1 Pharmaceuticals
    • 6.1.2 Cosmetics
    • 6.1.3 Food & Beverages
    • 6.1.4 Nutraceuticals
    • 6.1.5 Others
  • 6.2 Asiaticoside Market, By Product Type
    • 6.2.1 Pharmaceutical Grade Asiaticoside
    • 6.2.2 Cosmetic Grade Asiaticoside
    • 6.2.3 Food Grade Asiaticoside
    • 6.2.4 Nutraceutical Grade Asiaticoside
    • 6.2.5 Other Grades
  • 6.3 Asiaticoside Market, By Ingredient Type
    • 6.3.1 Asiaticoside 95%
    • 6.3.2 Asiaticoside 98%
    • 6.3.3 Asiaticoside 99%
    • 6.3.4 Asiaticoside 90%
    • 6.3.5 Other Purity Levels
  • 6.4 Asiaticoside Market, By Distribution Channel
    • 6.4.1 Online Stores
    • 6.4.2 Supermarkets/Hypermarkets
    • 6.4.3 Specialty Stores
    • 6.4.4 Pharmacies/Drugstores

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asiaticoside Market by Region
  • 10.3 Asia Pacific - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 India
      • 10.3.1.2 China
      • 10.3.1.3 Japan
      • 10.3.1.4 South Korea
  • 10.4 Latin America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 Brazil
      • 10.4.1.2 Argentina
      • 10.4.1.3 Mexico
  • 10.5 North America - Market Analysis
    • 10.5.1 By Country
      • 10.5.1.1 USA
      • 10.5.1.2 Canada
  • 10.6 Middle East & Africa - Market Analysis
    • 10.6.1 By Country
      • 10.6.1.1 Middle East
      • 10.6.1.2 Africa

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Asiaticoside market is categorized based on

By Product Type

• Pharmaceutical Grade Asiaticoside
• Cosmetic Grade Asiaticoside
• Food Grade Asiaticoside
• Nutraceutical Grade Asiaticoside
• Other Grades

By Application

• Pharmaceuticals
• Cosmetics
• Food & Beverages
• Nutraceuticals
• Others

By Distribution Channel

• Online Stores
• Supermarkets/Hypermarkets
• Specialty Stores
• Pharmacies/Drugstores

By Ingredient Type

• Asiaticoside 95%
• Asiaticoside 98%
• Asiaticoside 99%
• Asiaticoside 90%
• Other Purity Levels

By Region

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Naturex
• Indena S.p.A
• Givaudan
• Herbalife Nutrition Ltd.
• NutraGreen Biotechnology Co., Ltd.
• Phytolife Biotechnology
• Wacker Chemie AG
• Hunan Sunshine Bio-Tech Co., Ltd.
• Sabinsa Corporation
• Forever Living Products
• Galaxy Surfactants Ltd.
• Hunan Green Valley Pharmaceutical Co., Ltd.
• Swanson Health Products
• Herbochem Ltd.
• Jiaherb Inc.