The Global Ginseng Market to grow from USD 975.90 million in 2022 to USD 1,390.62 million by 2030, at a CAGR of 4.52%.

PUNE, MAHARASHTRA, INDIA, November 16, 2023 /EINPresswire.com/ -- The "Ginseng Market by Origin Type (American Ginseng, Oriental Ginseng, Siberian Ginseng), Source (Fresh, Processed), Colour, Form, End-Use - Global Forecast 2023-2030" report has been added to 360iResearch.com's offering.

The Global Ginseng Market to grow from USD 975.90 million in 2022 to USD 1,390.62 million by 2030, at a CAGR of 4.52%.

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Ginseng is a perennial condiment that belongs to the genus Panax within the family Araliaceae. Ginseng has been widely utilized in traditional medicine for its multiple health benefits, such as boosting energy, reducing stress, promoting relaxation, lowering blood sugar and cholesterol levels, treating diabetes, and managing sexual dysfunction in men. Ginseng is a versatile herb with many applications and uses across different industries. Its pharmacological properties stem from its rich content of bioactive compounds, including ginsenosides, which are responsible for its adaptogenic, immune-modulating, cardioprotective, neuroprotective, and antioxidative effects. There are two main species of ginseng commonly known for their medicinal properties: Asian ginseng (Panax ginseng) and American ginseng (Panax quinquefolius). Ginseng has been employed to improve overall health, fight stress and disease and strengthen the immune system. Moreover, ginseng has been experiencing significant growth in demand due to increasing consumer awareness of the health-beneficial properties of ginseng and the popularity of plant-based nutrition and herbal medicines globally. This shift in consumer preference is reflected in the rising popularity of functional foods and nutraceuticals that include ginseng as an ingredient. However, high costs associated with value-added ginseng products and potential side effects such as insomnia, rapid heartbeat, and blood pressure fluctuations with high doses of ginseng products significantly impede the adoption of ginseng products. In addition, ongoing research and development activities have led to the development of novel ginseng products that cater to specific consumer needs. Companies invest heavily in R&D to create innovative formulations tailored toward different demographic groups and therapeutic applications, further contributing to market development.

End-Use: Significant role of ginseng in medicinal application due to its antioxidative and potential neuromodulating effects
Ginseng is widely consumed as a dietary supplement due to its potential health-enhancing properties. Ginsenosides, the primary active compounds in ginseng, have been linked to multiple health benefits, including boosting immune function, improving mental focus and memory, reducing stress levels, and promoting overall well-being. Ginseng extracts are commonly added to functional foods and beverages, including energy drinks, herbal teas, snack bars, confectionery items, and other health-promoting products to enhance their nutritional profile and therapeutic value. The unique flavor profile of ginseng also adds an exotic appeal to these processed food items. Ginseng's potential skin rejuvenating properties have made it an integral ingredient in various personal care products such as creams, lotions, facial masks, serums, shampoos, and conditioners. The presence of antioxidant-rich ginsenosides in the herb helps combat the harmful effects of environmental stressors, free radicals, and aging on the skin and hair. Traditional medicine systems across various cultures have employed ginseng for its curative properties for centuries. Ginseng is commonly prescribed in traditional Chinese medicine (TCM) to alleviate fatigue, enhance stamina, improve cognitive function, and bolster immune health.

Source: Consumers preference for fresh ginseng in food & beverage sector
Fresh ginseng is primarily used by those seeking the most natural form of this potent plant for immediate consumption. It is typically harvested after five to six years of growth and is consumed for its various health benefits, including boosting energy levels, reducing stress, and improving cognitive function. Processed ginseng refers to products that utilize ginseng as a primary ingredient but have undergone some form of processing before reaching consumers. These products offer a more convenient way for individuals to consume the health benefits of ginseng without having to prepare it themselves. Some common processed forms include powders, capsules, extracts, teas, and functional foods. The dried ginseng supplement helps to lower blood pressure, balance out glucose levels, stimulate immunity, relieve menopause symptoms, and treat erectile dysfunction. Ginseng extract is safe for long-term use in type II diabetic patients; furthermore, it provides relaxation of the vascular smooth muscle by stimulating nitrogen oxide release. Fresh ginseng appeals to those seeking the most natural form of the plant but may require additional preparation steps before consumption. In contrast, processed ginseng offers greater convenience for incorporating this potent herb into daily routines.

Origin Type: Growing demand for oriental ginseng due to their health benefits
American ginseng is primarily found in the deciduous forests of eastern North America, varying from southern Canada to the central and southern United States. This perennial plant thrives in well-drained, cool, and shaded environments. Native American tribes have highly valued the roots of American Ginseng due to its medicinal properties. Oriental ginseng is native to the cooler climates of East Asia, particularly China and Korea. Oriental ginseng has two subtypes, white and red ginseng, based on processing methods after harvesting. Oriental ginseng is reputed to boost energy levels, enhance mental performance, and promote overall well-being. Siberian ginseng grows in the cold regions of Eastern Russia, China, Japan, and Korea, and it is traditionally used as an adaptogen and tonic herb to increase endurance and resilience against stress. Siberian ginseng helps improve immune function, reduce fatigue, enhance cognitive performance, and support cardiovascular health.

Form: Increasing use of ginseng extracts in personal care products
Ginseng extract is a concentrated form obtained by processing the roots using specialized techniques such as steam distillation or alcohol extraction. This results in a potent liquid and semi-solid product easily added to supplements, beverages, or cosmetic products. The primary advantage of ginseng extract lies in its high concentration of beneficial compounds such as ginsenosides. Ginseng powder is made by grinding dried ginseng roots into a fine powder, which is mixed into foods or drinks or taken as capsules. It offers a versatile option for incorporating ginseng into daily diet without significantly altering the taste of food. Raw ginseng refers to unprocessed whole or sliced roots that are consumed directly or used in making tea, soups, or tinctures. This form offers the most natural way of consuming ginseng and is ideal for individuals seeking minimally processed herbal remedies. Extracts are suitable for those seeking high potency with minimal effort, while powders offer flexibility in usage at an affordable price point. On the other hand, raw roots provide an authentic experience for individuals who prefer minimally processed options despite their lower bioavailability.

Regional Insights:
In the Americas region, the United States and Canada strongly prefer American ginseng (Panax quinquefolius), which is predominantly cultivated in Wisconsin. In South America, countries including Brazil and Argentina are witnessing increased demand for Panax ginseng products due to their adaptogenic effects that help support a balanced response to physical and emotional stressors. Asian ginseng producers and suppliers significantly focus on expanding their product range globally, particularly in the United States. In July 2023, Korea Ginseng Corp., a significant brand in ginseng, is currently executing a guerilla marketing campaign in strategic locations across the United States to promote its new beverage product. Korea Ginseng Corp. plans to expand its product range further by leveraging its state-of-the-art research center, with the invaluable support of Korea's aT center for globalizing Korean foods. In the APAC region, Chinese consumers prefer Asian ginseng (Panax ginseng), which possesses warming properties that strengthen vital energy or qi. The use of red ginseng and dried Asian ginseng is particularly popular in South Korea, where it forms an integral part of traditional medicine practices. Additionally, India's Ayurvedic medicine system has significant potential for further growth in this region as it incorporates various herbal ingredients, including Panax pseudoginseng (Himalayan ginseng), into its formulations. The EMEA region showcases a diverse range of consumer preferences regarding ginseng products. In Europe, the demand for Siberian ginseng (Eleutherococcus senticosus) has risen due to its adaptogenic properties and ability to improve mental performance in high-stress environments. Furthermore, growing interest in functional foods and natural health remedies is fueling the adoption of ginseng supplements and herbal teas across various European countries. The Middle East and Africa exhibit untapped potential as emerging markets for ginseng products due to increased awareness about herbal medicine's benefits and a growing middle-class population with disposable income. Moreover, ginseng suppliers join forces with organizations to create innovative ingredients and help suppliers develop evidence-based products, enhancing their credibility among customers. In March 2023, Seppic and Botalys entered a research and distribution partnership to create innovative ingredients for the cosmetics and health sectors. This collaboration primarily focuses on the joint development of products in high demand within these industries. By entering into this partnership, Seppic further strengthens its new supply chain development position, aligning with its corporate strategy.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Ginseng Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Ginseng Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Ginseng Market, highlighting leading vendors and their innovative profiles. These include Asieco, Botalys S.A., Chuckling Goat Ltd., Cobiosa, Euromed S.A., Herbadiet by Arkure Health Care, Hybrid Herbs, Ilhwa Co. Ltd., International Flavors & Fragrances Inc., Korea Ginseng Corporation, Na'vi Organics, Nature's Answer by Bio Answer Holdings Inc., NOW Foods, Nutrics, Nuts About Life Pty Ltd., Oils and Herbs UK, Premium Raws, Rainey Ginseng Farms Ltd., RFI Ingredients, Inc., Sydney Essential Oil Company by ABP, and NPOW.

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Market Segmentation & Coverage:

This research report categorizes the Ginseng Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Origin Type, market is studied across American Ginseng, Oriental Ginseng, and Siberian Ginseng. The Oriental Ginseng is projected to witness significant market share during forecast period.

Based on Source, market is studied across Fresh and Processed. The Processed is further studied across Dried and Extract. The Processed is projected to witness significant market share during forecast period.

Based on Colour, market is studied across Red and White. The White is projected to witness significant market share during forecast period.

Based on Form, market is studied across Extract, Powder, and Raw. The Powder is projected to witness significant market share during forecast period.

Based on End-Use, market is studied across Dietary Supplements & Functional Food, Food & Beverage Processing, Medicinal Application, and Personal Care Products. The Personal Care Products is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 42.23% in 2022, followed by Europe, Middle East & Africa.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Ginseng Market, by Origin Type
7. Ginseng Market, by Source
8. Ginseng Market, by Colour
9. Ginseng Market, by Form
10. Ginseng Market, by End-Use
11. Americas Ginseng Market
12. Asia-Pacific Ginseng Market
13. Europe, Middle East & Africa Ginseng Market
14. Competitive Landscape
15. Competitive Portfolio
16. Appendix

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Ginseng Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Ginseng Market?
3. What is the competitive strategic window for opportunities in the Ginseng Market?
4. What are the technology trends and regulatory frameworks in the Ginseng Market?
5. What is the market share of the leading vendors in the Ginseng Market?
6. What modes and strategic moves are considered suitable for entering the Ginseng Market?

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Mr. Ketan Rohom
360iResearch
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ketan@360iresearch.com

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