Global Ginseng Market Size study, by Source (Wild, Cultivated) by Form (Raw, Powder, Extract) by Variety (Oriental Ginseng, American Ginseng, Siberian Ginseng, Others) by end use industries (Personal Care Products, Dietary Supplements, Food and Beverage Processing, Pharmaceutical Products) and Regional Forecasts 2022-2030
Global Ginseng Market is valued approximately USD $$ billion in 2022 and is anticipated to grow with a healthy growth rate of more than % over the forecast period 2022-2030.
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Ginseng is a plant based herbal medicines. There are two main types of ginsengs, Asian or Korean ginseng and American ginseng. Ginseng has traditionally been used for a number of medical conditions. Ginseng helps in boosting immunity, improving focus and regulation of blood sugar. Growing demand for plant-based food products and rising health consciousness among consumers are key drivers for the growth of Ginseng market.
For instance, according to Plant based Foods Association (PFBA) & Good Food Institute (GFI)- in the year 2020 sales of plant-based food products in US has estimated at USD 7 billion, witnessing a double-digit growth rate of over 27% from USD 5.5 billion sales in the year 2019. Also, in the year 2020, 57 percent of all U.S. households purchased plant-based foods (approximately 71 million households). Also, with growing trend of veganism and increased application in cosmetics and personal care industry, the adoption & demand for Ginseng is likely to increase the market growth during the forecast period. However, limited regional availability of raw material impedes the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Ginseng market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region across the world in terms of market share owing to increasing demand for vegan products in the region. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate over the forecast period 2022-2028. Factors such as increasing application of ginseng in pharmaceutical industry and traditional medicines would create lucrative growth prospects for the Ginseng market across Asia-Pacific region.
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Major market player included in this report are: Korean Ginseng Export Corporation Organika Health Products Inc Ilhwa Co. Ltd Korean Ginseng Corp. RFI Ingredients, Inc Koshiro Co Ltd Daedong Korea Ginseng Co., Ltd. Ningbo Gianon Biotech Co., Ltd. Sino-Nature International Co., Ltd. Shanghai FanPharma Co., Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Form: Raw Powder Extract
By Variety: Oriental Ginseng American Ginseng Siberian Ginseng Others
By End Use Industries: Personal Care Products Dietary Supplements Food and Beverage Processing Pharmaceutical Products
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By Region: North America U.S. Canada Europe UK Germany France Spain Italy ROE
Asia Pacific China India Japan Australia South Korea RoAPAC Latin America Brazil Mexico Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019, 2020 Base year – 2021 Forecast period – 2022 to 2028
Target Audience of the Global Ginseng Market in Market Study:
Key Consulting Companies & Advisors Large, medium-sized, and small enterprises Venture capitalists Value-Added Resellers (VARs) Third-party knowledge providers Investment bankers Investors
Korean Ginseng Export Corporation Organika Health Products Inc Ilhwa Co. Ltd Korean Ginseng Corp. RFI Ingredients, Inc Koshiro Co Ltd Daedong Korea Ginseng Co., Ltd. Ningbo Gianon Biotech Co., Ltd. Sino-Nature International Co., Ltd. Shanghai FanPharma Co., Ltd.
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What aspects regarding the regional analysis Market are included in this report?
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