Ginseng Market size is estimated to reach $948.3 million by 2027, growing at a CAGR of 4.2% during the forecast period 2022-2027. Ginseng applies to 11 distinct assortments of a short, slow-growing plant with fleshy roots. Ginseng can re-establish and improve well-being. Thus far, several saponins have been recorded as constituents of Panax ginseng, also termed Korean ginseng. Ginseng roots are well recognized for their soaring content of saponins, ginsenosides, phenolic compounds, inclusive of carbohydrates and carotenoids. ginseng polysaccharides have been recorded to have immunomodulation, antitumor, antiradiation, antioxidant, and hypoglycemic actions (Luo and Fang, 2008, Park et al., 2011, Suzuki and Hikino, 1989, Zhang et al., 2009). Saponins, isolated ginsenosides which are existing in ginseng possess antihyperglycemic and anti-obesity actions in db/db and ob/ob mice (Attele et al., 2002).
Competitive Landscape:
The top 5 players in the Ginseng industry are –
1.Rainey Ginseng Farms Ltd,
2. KOSHIRO COMPANY LIMITED
3. Korean Ginseng Corp
4. RFI Ingredients
5. Daedong Korea Ginseng Co., Ltd.
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Segmental Analysis:
1. Ginseng Market based on the form can be further segmented into Powder, Liquid, Capsule and Raw. The Powder segment held the largest market share in 2021.
2. The Ginseng Market based on the application can be further segmented into Dietary Supplements, Pharmaceuticals, Food And Beverages, Personal Care And Cosmetics, Oral Care, and Others. The Pharmaceuticals segment held the largest market share in 2021.
3. The Ginseng Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of the World.
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Report Coverage |
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Report Attributes |
Details |
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By Form |
Powder, Liquid, Capsule, Raw. |
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By Application |
Dietary Supplements, Pharmaceuticals, Food And Beverages, Personal Care And Cosmetics, Oral Care, Others. |
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By Geography |
North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, France, Netherlands, Belgium Spain, Russia and Rest of Europe), APAC (China, Japan India, South Korea, Australia, New Zealand, Indonesia, Taiwan, Malaysia), South America (Brazil, Argentina, Colombia, Chile and Rest of South America) and RoW (Middle East and Africa).
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Market Drivers and Challenges:
1. Surging Applications Of Ginseng Are Projected To Drive The Growth Of Ginseng Market:Ginseng is one of the most favored organic medications. As per the National Institutes Of Health, Ginseng products are presently distributed to at least 35 distinct nations.
2. Novel Product Launches Involving Ginseng Are Expected To Boost The Demand For Ginseng:As per the National Institutes of Health, 90% of the ginseng products that are ingested in South Korea are ingested within the health foods category. Ginseng is a potent antioxidant.
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