Global ginseng extracts market was worth USD 24.5 millions in 2019. It is projected to grow at a 6.3% compound annual growth rate (CAGR), between 2020 and 2027. The market is expected to grow due to increased consumer acceptance of Asian and Oriental flavors, and increasing demand for Chinese herbal medicine. Ginseng extract is made from plant ginseng which is an adaptogenic plant. This extract is often referred to as an adaptogen. It resists chemical, biological, and physical stress and boosts general vitality. It is well-known that ginseng roots contain significant amounts of bioactive compounds such as salicylic Acid, phenolic acid maltol and p-coumaric.
The unique saponin found in ginseng roots is known as ginsenosides. It has health-beneficial effects such as antihypertensive and antioxidant, insulin resistance reduction, immunemodulating, antitumors, immunomodulating. Based on the processing methods, ginseng extract can be classified as fresh, red, or white ginseng.
Panax quinquefolius roots and Panax Ginseng roots are commonly known as "ginseng", which is an important folk medicine in Asia, including Japan, Korea, and China. Ginseng roots are known for having high levels of phenolic compounds, saponins and ginsenosides as well as carbotenoids .
Customers are also more concerned about their health due to the constantly changing socioeconomic status. Over the past few years, plant-derived products that have significantly fewer side effects are gaining recognition. It is also possible to use it in functional food as well as dietary supplements, which can provide health benefits that go beyond traditional nutrients.
There has been a growing interest in ginseng's role as a functional food, nutraceutical, with a rising market value. Extracts and bioactive compounds from ginseng have been recognized for their many health-promoting properties, including antitumor and antioxidant, skin protection, anti-osteoporotic, anticancer, respiratory problems, and anti-infective.
In 2019, the powder form segment was 52.1% of the total revenue. It is expected to see significant growth over the forecast period because they can be used in food preparation and are very preservable. Powder forms are also more shelf-friendly due to their low water content and high preservability.
Cross-contamination in the production and processing of powdered foods has led to the development of biological decline. Powder foods can still grow microorganisms even though they have low water content.
Other beneficial properties are also driving the powder segment's growth, such as antioxidant, anti-inflammatory and anti-cancer. Its wide application in cosmetic and food segments is another reason for the segment's growth. The segment's growth is also supported by increasing internet penetration and shifting consumer preferences towards online shopping. This has led to a wide range of product options and easy product access.
As liquid is most commonly used in functional foods and medicinal preparations, it will see the greatest growth. It aids in strengthening the immune system and prevents exhaustion.
The market can be divided by application into three categories: cosmetic and personal care, pharmaceutical and food and drink. In 2019, the pharmaceutical market accounted for 54.3% of total revenue. This is due to the medicinal and nutritional benefits of ginseng extract. It is used to treat comas, gastrointestinal diseases, and cardiovascular disease. It is also vital in many physiological processes such as neurodegenerative diseases, immunological diseases and diabetic disorders.
Because of its crucial role in immune enhancement, autoimmune disease and cancer, the dietary supplements segment will see the fastest revenue growth of 7.0% over the forecast period. The immune system effects of ginseng extract in dietary supplement enhance the body's resistance to illness. Health professionals have been concerned about the use of herbs and botanicals as an alternative to traditional therapy, especially when the immune system is compromised or a selective resistant treatment is needed to reduce the adverse effects.
It has positive effects on the liver, brain, and immune functions. Ginseng extract is expected to be one of the most popular herbs in the world, as it is increasingly used for medicinal and dietary purposes.
Asia Pacific had a 67.2% revenue share in 2019, due to its rapid use in food product manufacturing, which has seen the greatest growth. Another factor driving market growth is the shift in consumer preferences to natural foods due to side effects of human-made ingredients.
North America will see an increase in demand during the forecast period. This is due to the widespread use of ginseng extract to adaptogen. It has been used as a significant selling nutritional supplement for many years and is considered the most popular herbal and nutritional supplements in the country.
According to industry trends and analysis, the broadening market opportunity for ginseng extracts is mainly due to the growing demand from the Asia Pacific and North America health food industries. The increasing awareness of nutrition and the increased purchasing power of consumers will lead to an increase in demand for food products.
Due to an increase in demand for dietary supplement, countries like the U.S., China and South Korea are driving the ginseng extract market. This is due to the rising trend towards preventive healthcare management, which has been exacerbated by increasing health care costs. Due to the rapid growth of the pharmaceutical industry in the future, European countries like the U.K. and France will be able to support growth.
The presence of internationally-renowned companies in the market space is expected to lead to increased instances of mergers & acquisitions over the coming years, given the incapability of privately-held and smaller players to compete with international market participants in terms of global/regional presence, the establishment of distribution channels, and revenue generation. The following are some of the most prominent players in the global market for ginseng extracts:
Shanti Natural
RFI ingredient
Orkla Health
KGEC
Herbal Bioactives
Hangzhou Skyherb
Nino Biotech
Sinochem Pharmaceutical
Liuyang Naturalin Bio
Clariant
Changsha Huir Biological-Tech
Baoji Herbest Bio-Tech
Koei Kogyo
Up Market Research published a new report titled “Ginseng Extracts Market research report which is segmented by Application (Cosmetics & Personal Care, Pharmaceuticals, Dietary Supplements, Food & Beverages), by Form (Powder, Liquid), By Players/Companies Shanti Natural, RFI ingredient, Sinochem Pharmaceutical, Orkla Health, Baoji Herbest Bio-Tech, Changsha Huir Biological-Tech, Koei Kogyo, Nino Biotech, Hangzhou Skyherb, Herbal Bioactives, Clariant, Liuyang Naturalin Bio, KGEC”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Ginseng Extracts Market Research Report |
By Application | Cosmetics & Personal Care, Pharmaceuticals, Dietary Supplements, Food & Beverages |
By Form | Powder, Liquid |
By Companies | Shanti Natural, RFI ingredient, Sinochem Pharmaceutical, Orkla Health, Baoji Herbest Bio-Tech, Changsha Huir Biological-Tech, Koei Kogyo, Nino Biotech, Hangzhou Skyherb, Herbal Bioactives, Clariant, Liuyang Naturalin Bio, KGEC |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 218 |
Number of Tables & Figures | 153 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Application (Cosmetics & Personal Care, Pharmaceuticals, Dietary Supplements, Food & Beverages), by Form (Powder, Liquid).
Ginseng Extracts Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Ginseng Extracts Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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