According to IMARC Group’s latest report, titled “Ginseng Extract Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global market grew at a CAGR of around 5% during 2015-2020. Ginseng, or Panax ginseng, is a medicinal plant consisting of a distinctive saponin known as ginsenosides in its roots. Ginseng extract is obtained by drying the root of the ginseng plant. These dried roots are sometimes steamed and then percolated with an aqueous propylene glycol or alcohol solution. It contains high amounts of phenolic compounds, saponin, carotenoids, salicylic acid, vanilla acid, p-coumaric acid, and carbohydrates. As a result, it is consumed as herbal supplements to treat stress, depression, attention deficit hyperactivity disorder, and low libido. It is also known to improve thinking processes and cognitive deficits by reducing oxidative stress levels.
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The global ginseng extract market is primarily driven by its increasing demand as an essential component in producing various pharmaceutical drugs, food and beverages, and dietary supplements. With the rising preference for natural and organic skincare and personal care products among the masses, Ginseng extract is used to manufacture various creams, lotions and face masks. Besides this, the increasing awareness regarding the health benefits of consuming ginseng extracts has led to its usage in the pharmaceutical industry to formulate several drugs. Furthermore, the shifting preferences of consumers toward functional and dietary supplements, ginseng extract is widely used to prepare multiple refreshing drinks and East Asian foods with oriental flavors. These factors are anticipated to propel market growth in the coming years. Looking forward, IMARC Group expects the ginseng extract market to exhibit moderate growth during 2021-2026.
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