Ginseng Market - By Form (Powder, Liquid, Capsule, Raw), By Application (Dietary Supplements, Pharmaceuticals, Food & Beverages, Personal Care & Cosmetics, Oral Care, Others) - Global Opportunity Analysis & Industry Forecast, 2024 - 2030

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).

The expanding interest in organic health supplements including Korean ginseng with saponins to avert the hazard of chronic ailments and keep up health and wellness is set to drive the Ginseng Market. The trend of healthy hydration and functional foods and beverages across the planet is set to propel the growth of the Ginseng Market during the forecast period 2022-2027. This represents the Ginseng Industry Outlook.

Report Coverage

The report: “Ginseng Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Ginseng Market.

By Form: Powder, Liquid, Capsule, Raw.
By Application: Dietary Supplements, Pharmaceuticals, Food And Beverages, Personal Care And Cosmetics, Oral Care, Others.
By Geography: North America (U.S, Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia, Rest of South America), and Rest Of The World (Middle East, Africa).

Key Takeaways

• Geographically, Asia-Pacific Ginseng Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the accelerated application of ginseng extracts in food product manufacture and growing interest in health supplements involving Korean ginseng with saponins in the Asia-Pacific region.
• Ginseng Market growth is being driven by the surging acceptance of consumers of Asian and Oriental flavors and the proliferating demand for Korean ginseng with saponins for health care and treatment of ailments in Asia in countries like Korea and China. However, The profiles of malonyl-ginseng saponins are dissimilar amidst distinct species, and owing to their imbalance and the dearth of appropriate reference compounds, deciding their profiles introduces a challenge and this is one of the major factors hampering the growth of the Ginseng Market. 
• Ginseng Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Ginseng Market report. 

Ginseng Market Segment Analysis – By Form:

The 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. This growth is owing to the heightened convenience it offers for application in food and being greatly preservable. Ginseng is an effective antioxidant. The soaring shelf-life of powder forms of Ginseng owing to the reduced water content is further propelling the growth of the Powder segment.

Furthermore, the Liquid segment is estimated to grow with the fastest CAGR of 5.6% during the forecast period 2022-2027 owing to the extensive application of the liquid form of Ginseng in functional food and medicinal preparations where the accurate quantity of liquid can be blended to obtain the correct mix of solution apart from the beneficial attributes of ginseng like ginseng being an antioxidant.

Ginseng Market Segment Analysis – By Application:

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. This growth is owing to the surging application of Ginseng for the treatment of various ailments like cancer and cardiovascular disease. Ginseng has antioxidant and anti-inflammatory characteristics and finds numerous medical applications. The proliferating application of ginseng for the treatment of neurodegenerative ailments and immunological ailments is further propelling the growth of this segment.

Furthermore, the Dietary Supplements segment is estimated to grow with the fastest CAGR of 5.1% during the forecast period 2022-2027 owing to the extensive application of Ginseng in improving immunity against bacterial and viral infections apart from Ginseng being a strong antioxidant.

Ginseng Market Segment Analysis – By Geography:

The Ginseng Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of the World. Asia-Pacific (Ginseng Market) held the largest share with 45% of the overall market in 2021. The growth of this region is owing to the biggest global distribution of ginseng in South Korea in the Asia-Pacific region. Ginseng is a powerful antioxidant. The favorable climate and soil conditions of countries like South Korea and China are further propelling the growth of the Ginseng Market in the Asia-Pacific region.

Furthermore, the North America region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like the surging intake of American Ginseng in the U.S. and the proliferating awareness attributed to veganism in the North American region. The benefits of ginseng like being an antioxidant and the supportive climate and soil conditions of the U.S. and Canada are further fueling the progress of the Ginseng Market in the North American region.

Ginseng Market - Drivers

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. Further updates from the National Institutes Of Health indicate that around 95% of white ginseng products are partaken as root, while in comparison, around two-thirds of red ginseng products are processed prior to consumption. Ginseng is termed man-root owing to the advantages offered to the complete body. Ginseng's advantages range from increasing immunity to enhancing memory. Additionally, this medicinal root provides a sunshade of health advantages and culinary applications. Ginseng is abundant in antioxidants and is anti-inflammatory. It also includes tiny quantities of vitamin C. Ginseng may heal erectile dysfunction in men. Ginseng is abundant in two compounds- ginsenosides and gintonin. These compounds perform in conjunction to offer health advantages. Ginsenosides in ginseng seem to curb inflammation, provide antioxidant protection, and conserve cell health. As a result, it decreases the hazard of some cancers. Ginseng may also assist in enhancing the health of chemotherapy patients. It performs by decreasing the negative impacts of the treatment. Additionally, ginseng may boost the efficiency of certain treatment medications. Generally, these characteristics may be advantageous for cancer patients. Culinary applications involve including ginseng slices or powders in soups and curry. The surging applications of Ginseng are therefore fuelling the growth of the Ginseng Market during the forecast period 2022-2027.

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. In February 2022, Noida-based start-up, Immunity Bloom has introduced its novel series of dietary food supplements prepared from pure Korean Ginseng which is directly imported from South Korea. Shield –Om Plus and Shield – Om Ultra are the two supplement variants produced by the brand, utilizing these plants which have the miraculous quality of improving body immunity. Both the variants are authorized by FSSAI and FDA. Korean Red Ginseng relieves stress, inflammation and supports combat age and recovery from pain and ailment, in a period of fewer days. The novel product launches involving ginseng are therefore driving the growth of the Ginseng Market during the forecast period 2022-2027.

Ginseng Market – Challenges

Challenge Of Disease Management Pertaining To American Ginseng Is Hampering The Growth Of The Ginseng Market:

As per Imperial Ginseng, greater than 5 million pounds of American ginseng products partake in the Asia-Pacific region every year and that accounts for 90% of the American ginseng market. The greatest challenge to American ginseng production is the handling of diseases that construe the ginseng root as unmarketable owing to contamination principally by fungal pathogens. These micro-organisms contaminate and injure both the foliage and the roots, bringing about significant damage and consequent plant demise. The production ambiance for ginseng, in which thick straw mulch and shade cloth are utilized at the time of the summer to imitate a forest canopy ambiance, offers conditions that are conducive to the survival and augmentation of fungal pathogens. Research has demonstrated that the most pervasive fungal pathogens contaminating ginseng involve Cylindrocarpon destructans (bringing about root decay), Phytophthora (bringing about foliar blight and root rot), Alternaria alternata and Botrytis cinerea (bringing about foliar and seed infection), and Fusarium species and Rhexocercosporidium (bringing about root contamination or rusty root). Many of these fungi have the capability to also colonize the developing berries by way of discharge of airborne spores and thus possibly invade the seed. This depicts a challenge as the wide distribution of ginseng seeds has the possibility to also spread seed-borne pathogens from one region to another. Additionally, numerous seedling-infecting fungi like Pythium and Fusarium species, and Rhizoctonia solani, bring about the seedling demise and decrease plant counts. These issues are thus hampering the growth of the Ginseng Market.

Ginseng Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and regional expansions are key strategies adopted by players in the Ginseng Market. Key companies of this market are:

1. Rainey Ginseng Farms Ltd,
2. KOSHIRO COMPANY LIMITED
3. Korean Ginseng Corp
4. RFI Ingredients
5. Daedong Korea Ginseng Co., Ltd.
6. Ningbo Gianon Biotech Co., Ltd.
7. Sino-Nature International Co., Ltd.
8. Organika Health Products Inc.
9. La Natures
10. Inovital

Recent Developments

• In February 2022, it has been reported that Korea Ginseng Corp (KGC) remains at the top of the nation’s health functional foods sales chart, while Korea Yakult has been thrust out of the top five, as per novel data. The Ministry of Food and Drug Safety (MFDS) currently issued the Food and Drug Statistical Yearbook for 2021, which specified the nation’s health functional foods and general foods sales in the year 2020. Sales of healthy functional foods inside the nation had reached KRW$3.1 trillion (U.S. $2.6bn) in 2020.
• In January 2022, KGC(Korea Ginseng Corp.) revealed the 'World Map of Red Ginseng', which chose the bestsellers by country on the basis of the overseas market sales of CheongKwanJang Red Ginseng last year to target the novel year, 2022. 'Everytime', a stick-type red ginseng product that is effortless to carry and consume, ranked first in sales in six Asian regions, inclusive of Japan. As red ginseng, the creator of K-food, has developed itself as a favored gift in Asia where New Year's holidays are commemorated, demand in overseas markets is also surging.
• In September 2020, Korea Ginseng (KGC) introduced Donginbi, a functioning premium Red Ginseng skincare solution, on Amazon with a restricted time discount of up to 40%. The brand was built in 1899 on the basis of Cheong Kwan Jang’s philosophy of building Korean Red Ginseng for extrinsic application. Different constituents of Red Ginseng provide advantages like heightened firmness, elasticity, and brilliance.

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