Ginseng Market

The Ginseng Market size was valued at USD 5623 million in 2019, expanding at a healthy rate of 4.7% over the forecast period. Ginseng is the most prominent herbal remedy that helps restore and improve overall wellbeing, enhance energy levels, and decrease blood sugar. Thus, they are used to produce dietary supplements, personal care products, and pharmaceuticals.

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Ginseng Market Dynamics

Ginseng functions as an antioxidant that maintains the elasticity of the skin, aging and extends the lifespan of skin cells. The major factors fuelling the ginseng market include the increasing health consciousness among consumers and rising demand for plant-based products. Also, consumers have increasingly drifted towards natural plant-based products because of the growing awareness about the beneficial features of the product, such as fewer chances of diseases and maintaining overall health. Several personal care organizations are emphasizing launching ginseng extracts in their personal care and beauty products to cater to the varying demand of the customers.

However, the availability of substitutes for dietary supplements such as quinoa and chia seeds will restrain the ginseng market share.

Source Segment Analysis

The Wild Ginseng segment is predicted to witness faster growth during the forecast period. It boosts the immune system and functions as a stress reliever. Also, as per the ginseng market report, wild ginseng helps combat several diseases such as respiratory tract infections and diabetes, contributing to the market growth.

Form Segment Analysis

The powder form of ginseng is expected to hold the largest share during the coming years. The powdered form triggers cognitive abilities in older people, encourages hair growth, and improves the immune system. Ginseng offers several exceptional properties, such as better water solubility, long-term storage, and easy consumption.

Regional Analysis

The North American region is predicted to expand the market with the largest share over the coming years. The rising demand for dietary supplements containing American Ginseng among the target customers will fuel the market growth.

The Asia Pacific is likely to witness a higher rate during the coming years. China is the leading exporter of ginseng and uses ginseng to produce conventional medicine. Thus, the growing awareness regarding the benefits of ginseng, majorly in India, Japan, and China, will further accelerate the market demand.

Ginseng Market Segmentation:

Ginseng Market by Source

• Wild Ginseng
• Cultivated Ginseng

Ginseng Market by Form

• Raw
• Powder
• Extract

Ginseng Market by Variety

• Oriental Ginseng
• American Ginseng
• Siberian Ginseng
• Others

Ginseng Market by End-Use

• Personal Care Products
• Dietary Supplements
• Food and Beverage Processing
• Pharmaceutical Products

Ginseng Market by Region:

• Asia Pacific
  • China
  • Japan
  • India
  • Rest of APAC
• North America
  • United States of America
  • Canada
• Europe
  • United Kingdom
  • Germany
  • France
  • Spain
  • Rest of Europe
• RoW
  • Brazil
  • South Africa
  • Saudi Arabia
  • UAE

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