Ginseng Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

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Ginseng Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

Status : August, 2020 | Chemical & Materials | PPT format

Report Digest


Global Ginseng Market: Overview

Ginseng refers to an herbal supplement, which has been utilized since last many centuries in the Chinese medicine. It is widely known for its anti-inflammatory and antioxidant properties. It is also used in controlling levels of blood sugar and is also believed to have beneficial effect on certain types of cancers. The global ginseng market is likely to gather traction from the increased awareness about the benefits of the product.

The utilization of ginseng is growing in the personal care industry. As more people become aware about the benefits of ginseng, more companies exhibit interest in introducing extracts of ginseng in varieties of beauty and personal care products. For instance, of late there has been a growing use of ginseng extracts as a key ingredient in a wide variety of cleansers, essences, moisturizers, serums, and various other types of skincare products. In addition, ginseng comes with anti-oxidant qualities that helps in healing damage of skin and offers anti-aging solutions. Driven by the qualities of ginseng, the use of the product has increased considerably in the cosmetics and personal care products sector. Furthermore, food and beverage sector has also witnessed a rise in the use of ginseng, thanks to the presence of high nutritive elements.

The global ginseng market has been segmented based on product, end use, and region. The main objective of providing such a comprehensive report is to provide a deep insight into the market.

Global Ginseng Market: Notable Developments

The global ginseng market has witnessed some developments in the last few years. One of such markets developments is mentioned below:

  • In April 2018, researchers from the School of Biomedicine, Far Eastern Federal University, Russia came up with a chocolate that is enriched with the goodness of ginseng extract.  The ginseng extract is derived utilizing nano-biotechnology that helps in preserving  most of the biologically active components of ginseng. One single tile of this newly invented chocolate bar come with a daily dose of ginsenosides and various other nutrients that help in boosting energy, immunity and have antioxidant properties. This new invention is estimated to gather more market share for ginseng in the years to come.

Some of the key market players of the global ginseng market are

  • Daedong Korea Ginseng Co., Ltd.
  • Organika Health Products Inc.
  • Sino-Nature International Co., Ltd
  • The Boots Company
  • Ningbo Gianon Biotech Co., Ltd.
  • Ranbaxy Laboratories

Global Ginseng Market: Growth Drivers

Rise in Health and Wellness Consciousness to Drive Demand in the Market

There has been a rise in the health consciousness amongst the people, which is a key factor in driving the transformation that is taking place in the food and beverage industry. These days, consumers not only opt for healthy and nutrient rich food products but also are also willing to spend more on healthy food and beverage items. Growing preference of non-GMO with no trace of artificial additives is likely to drive the demand for nutrient rich products, such as ginseng. In a bid to acquire greater share in the market, more food and beverage companies are exploring ingredients that would add more nutrients in their items. These factors are likely to bolster growth of the global ginseng market in the years to come.

Rising demand for fitness and wellness is expected to generate demand for ginseng supplements. The ginseng supplements qualify as non-GMO and organic products and as such, the demand for ginseng is forecasted to remain high over the period of analysis.

On the other hand, there has been a decline in the availability of wild ginseng in many parts of the world, such as South Korea, China. Such low availability is mainly due to overexploitation, slow maturation, and low seed germination. As such, the price of wild ginseng has shot up. This factor is likely to hamper the growth of the global ginseng market in the forthcoming years.

Global Ginseng Market: Regional Outlook

Driven by South Korea and China, Asia Pacific is likely to remain at the forefront of the growth of the global ginseng market. The dominance of the region is likely to continue over the tenure of assessment. High demand for the product to be used in various applications such as cosmetics, pharmaceutical, personal care industries in the region is likely to drive the growth of the ginseng market in Asia Pacific.

The global ginseng market is segmented as:

Product

  • Raw
  • Powder
  • Extract

End Use

  • Supplements
  • Personal Care

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.