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Ginseng Extracts Market Overview
Ginseng Extracts Market size is estimated to reach $38.2 million by 2027, growing at a CAGR of 6.6% during the forecast period 2022-2027. Ginseng extracts can be outlined as products (solid or liquid) formed from perpetual herbal plant ginseng. The extract is prepared by percolating dried roots with propylene glycol, followed by solvent addition to separate extract. These extracts are widely taken into account by the food and beverage industry to infuse anti-illnesses properties into foods. Also, it is used by pharmaceutical companies to produce various dietary supplements owing to the presence of carotenoids. Ginseng roots are home to phenolic acid compounds like salicylic acid that cure skin tags, warts, and acne.
Moreover, it treats hyperpigmentation of the skin by reducing the melanin
production and expression of melanogenic enzymes. In addition to that, ginseng
extracts play a significant role in reducing the risk of cancer, diabetes,
bacterial infections, depression, and neurodegenerative diseases like
Alzheimer’s. The ginseng extracts market outlook is captivating owing to its
across-the-board applications. Moreover, rising health cognizance, growing
healthcare infrastructures such as hospital and retail pharmacies network,
proliferating disposable incomes, and growing incidences of skin diseases,
cancer, stress, and dementia are factors set to drive the growth of the Ginseng
Extracts Industry for the period 2022-2027.
Report Coverage
The report: “Ginseng Extracts Market Forecast
(2022-2027)” by Industry ARC covers an in-depth analysis of the following
segments of the Ginseng Extracts Market.
By Form: Capsules, Powder, and Liquid.
By Application: Pharmaceuticals, Food and
Beverages, Nutraceuticals, Cosmetics, and Others.
By Distribution Channel: Offline (Drug Stores
& Retail pharmacies, Supermarkets, Beauty Stores, and Others) and Online
platforms.
By Geography: North America (U.S., Canada, and
Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of
Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New
Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest
of South America) and Rest of World (the Middle East and Africa).
Key Takeaways
- Geographically, the Asia-Pacific Ginseng Extracts Market accounted for the highest revenue share in 2021 and is poised to dominate the market over the period 2022-2027. The growth is owing to the presence of the biggest ginseng producing countries like China and South Korea and the rising and growing pharmaceutical industry.
- Enlarging the prevalence of chronic disease, high demand for nutraceuticals, and rising disposable incomes of people in developing countries are preeminent drivers driving the growth of the Ginseng Extracts Market. Health hitches linked with excessive consumption and COVID restrictions are said to reduce the market growth.
- Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Ginseng Extracts Market report.
Ginseng Extracts Market- Geography (%) for 2021.
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Ginseng Extracts Market Segment Analysis-By Form
The Ginseng Extracts Market, based on the form, can be further segmented into capsules, powder, and liquid. The powder segment held the largest share in 2021. The growth is owing to a better dissolution rate, high shelf-life, swift drug dispersion, easy handling, and low water content. In addition to that, as compared to liquid, the powder forms hold high physiochemical stability. Also, powder manufacturing is reasonably cost-effective, which is another factor responsible for its high demand.
Nevertheless, the capsule segment is estimated to be the fastest-growing, with a
CAGR of 7.3% over the forecast period 2022-2027. This growth is owing to easy
administration as they are taste and odorless. Powder or liquid form imparts an unpleasant taste in the mouth, making their administration quite
unattractive. Capsules are easily portable as compared to liquid and powder
forms; therefore, are emerging as the most desired form in eventful lifestyles
of people. On the other hand, economical nature, attractive aesthetics, better
dosage control, and fewer cross contaminations are likely to contribute
to growth.
Ginseng Extracts Market Segment Analysis-By Application
The Ginseng Extracts Market, based on the application, can be
further segmented into pharmaceuticals, food and beverages, nutraceuticals,
cosmetics, and others. The pharmaceutical segment held the largest share in
2021. The growth is owing to far-reaching applications in treating or
preventing risks of several life-threatening cardiovascular and
neurodegenerative disorders. In addition to that, ginseng plays a crucial role
in treating skin hyperpigmentation because of phenolic acid
compounds’ presence; it can reduce melanin production. Furthermore, the
nutraceutical segment is the fastest-growing, with a CAGR of 7.5%
over the forecast period 2022-2027. This growth is owing to a rising shift in
peoples’ attitudes from treatment to prevention. To fulfill their daily nutritional
requirements, million across the globe are betting on dietary supplements. As a
result, the overall demand for nutraceuticals is sky-rocketing. On the other hand,
growing modernization and literacy rates have their fair share in enlarging
health awareness among people around the globe. In addition to that, with
expanding communicable illnesses, having strong immunity has been a new normal
for the world.
Ginseng Extracts Market Segment Analysis-By Geography
The Ginseng Extracts Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. Asia-Pacific held the largest share, with 34% of the overall market in 2021. The growth in this segment is owing to the factors such as the high cultivation of ginseng in China and South Korea. With over 44,700 tons of annual production, China is the biggest producer of ginseng worldwide; whereas, with approximately 27,480 tons of production, South Korea ranks 2nd. South Korea is known for its Panax Ginseng Meyer 1st class, while China harvests mainly 3 different types P. quinuefolius L, P. notoginseng Burkill, and Ginseng Meyer. North America follows Asia-pacific in ginseng production as the US and Canada account for more than 7,500 collective productions.
Furthermore, Asia-Pacific is expected to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to the immense traditional medicines industry and humungous old-age population. Owing to the massive old-age population, the prevalence of chronic illnesses is surging across Asia, thereby heightening the demand for ginseng-based pharmaceuticals. On the other hand, owing to the rising disposable income of people, the demand for nutraceuticals and cosmetics products is broadening day after day.
Ginseng Extracts Market Drivers
The surging prevalence of chronic diseases is anticipated to boost market demand.
Ginseng is also known to impact the nervous system, owing
to its various effects that are beneficial to the brain. Ginsenosides and other active
constituents from ginseng show neuroprotective properties and
work as a cognitive performance and memory enhancers. From approximately 730
million, the geriatric population is anticipated to reach nearly 2 billion in
the next decade. Therefore, as the number of geriatrics increases,
so is the prevalence of chronic illness because weak immunity is a potential
target of such complications. On the other hand, growing stress and depression
because of eventful lifestyles have spiked neurodegenerative
disorders like Alzheimer’s disease, prion disease, multiple sclerosis,
amyotrophic lateral, Parkinson’s disease, and many others. In 2021, there were
nearly 6.2 million Alzheimer’s cases in the U.S., whereas the death rate
associated with Creutzfeldt-Jakob disease (CJD) has witnessed an increasing
trend. A report by Alzheimer’s Association, the global dementia cases worldwide
are likely to triple by the year 2050. Therefore, these factors are said to play a key role in driving market growth.
Growing health cognizance and skin associated disorders are expected to boost market demand.
Swift modernization, spiraling disposable incomes, expanding
literacy rates, and all-weather access to the internet have made people more
health attentive which in turn is providing reasonable grounds for the growth of
the ginseng extract market as people are making more demand for ginseng-based dietary
supplements and personal care products. Also, the wide
variety of dietary supplements in the market has its fair share in gravitating
consumers' attention toward nutraceuticals. According to FDA, there are over
28,900 types of supplements that customers have access to. Moreover, ginseng
helps cure skin conditions like inflammation, suppurative AD, psoriasis,
hyperpigmentation, and others. Furthermore, robust trade advancements will
positively affect market growth. For example, Appalachian Ginseng Opened
Trade with The World, which would allow meeting the ever-growing demand for
Ginseng.
Ginseng Extracts Market Challenges
Health worries connected with excess consumption and pandemic restrictions are anticipated to hamper market growth.
According to a few reports, long-term and excess usage of
ginseng can also turn against consumers. Extravagant or profligate ginseng
consumption compilations like colic pain (severe pain in the abdomen),
dizziness, headaches, and insomnia in motion. Likewise, regular intake of
ginseng stimulates menstrual alterations in women. Additionally, around 40
crore women in India come under the bracket of menstruating women-globally
these numbers add to billions-thereby hampering the growth potential in the
following criteria. In addition to that, hampered production and processing
activities because of harsh COVID-19 restrictions is another major challenge in
front of the steady growth of the ginseng extract market.
Ginseng Extracts Industry Outlook:
Product launches, mergers and acquisitions, joint ventures,
and geographical expansions are key strategies adopted by players in the Market.
Ginseng Extracts market top 10 companies include-
- RFI Ingredient
- Nino Biotech
- Elemis Ltd.
- Clariant AG
- Orkla Health
- Sinochem Pharmaceutical
- Herbal Bioactives
- Starwest Botanicals
- Inovital
- The Boots Company
Recent Developments
- On April 15, 2022, the Korea Society of Ginseng announced The Effect of Red Ginseng on Improving Fatigue, Lethargy and Stress Resistance at The Korea Society of Ginseng Spring Conference in 2022, held at Sejong University on the 21st. A double bind placebo study was conducted to find out about the effect of red-ginseng, and it was notified that it improved the number of mitochondrial DNA copies and antioxidant capacity increased, and fatigue symptoms also improved.
- On June 15, 2021, Oslo, Norway-based Orkla Health AS (a company famous in the Nordic region for its mineral supplement and omega-3 fatty acid supply) announced the successful acquisition of Nordic beauty and health product supplier “NutraQ 2 AS”, commonly known as NutraQ with purchase of 100 percent ownership interest. The acquisition has put VitePro (a health supplement) and Oslo Skin Lab in Orkla’s portfolio.
- On 4 June 2021, Pennsylvania, United States-based private equity firm “Incline” announced that it had successfully acquired California, United States-based company “Starwest Botanicals” (a firm recognized for its herbs and natural products). Incline made a payment of $106 million to bring the acquisition to a close.
- On January 13, 2019, Manosque, France-based company “L’Occitane Group (a firm famous for its natural cosmetics brands) announced the successful acquisition of Elemis Ltd (a company that manufactures natural ingredients-based skincare products). The total value of the transaction stands around $900 million (cash).
Relevant Links:
Natural Fragrance Ingredients Market – Forecast (2022 - 2027)
Report Code: FBR 0114
Asia and ASEAN Herbal Medicines Market – Forecast (2022 - 2027)
Report Code: HCR 1347
Herbal Supplements Market – Forecast (2022 - 2027)
Report Code: FBR 0112
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