Ginseng Extracts Market

Ginseng Extracts Market Size, Growth, Forecast (2023-2028)

The Global Ginseng Extracts Market size was worth US$ 22.9 billion in 2022, and it is estimated that it will reach US$ 35.4 billion by 2028 with an annual development rate of 6.2% between 2023 and 2028.

Market Overview:

Ginseng is a plant classified as a single stem with green oval leaves and fleshy roots. Ginseng root is considered the most valuable due to the presence of a chemical component called ginsenoside. This extract is called an adaptogen, which means that it resists biological, chemical, and physical stress and increases overall vitality. Particularly for its excellent and special properties with anti-cancer, anti-inflammatory and antioxidant properties, the extract is an herbal supplement that is in great commercial demand. It is a perennial plant that can live for more than a century. It is further employed in homeopathy to aid in the treatments related to stress, depression, low libido, attention deficit hyperactivity disorder and others. The various beneficial properties provided by this chemical component have made it most useful in personal care and in applications including cosmetics, foods, dietary supplements, and pharmaceuticals. Ginseng extract is classified into white ginseng, fresh ginseng, and red ginseng based on the processing procedure. Ginseng extract formulated in capsules is used primarily in dietary additive formulations due to its high bioavailability of ginsenoside ingredients. Ginseng extract is incorporated into the manufacture of dietary supplements to improve general well-being, boost the immune system, delay aging, and improve stamina.

Recent Developments in Ginseng Extracts Industry:

• In February 2019, Ewha Company announced its global expansion with the exclusive red ginseng product from the food brand Nature's Food. It will also mainly enter the Chinese industry to adapt to global end users.
• In September 2018, Taiwan electronics conglomerate Foxconn signed an agreement with the Wisconsin Ginseng Commission and the University of Wisconsin Carbon Cancer Center to develop the Wisconsin ginseng industry and grow the Foxconn ginseng brand.

Ginseng Extracts Market Growth:

The global ginseng market is experiencing a tremendous growth trajectory as demand for plant products increases around the world.

REPORT COVERAGE:

Drivers:

As the prevalence of chronic diseases, such as cancer, cardiovascular disease, and diabetes increases, the use of herbal remedies for aging populations and disease alleviation shows increased market opportunities for ginseng extracts. Pharmaceuticals, food and beverage, and personal care are some of the top industries increasing the use of ginseng in products. It is gaining popularity due to the growing awareness of the health benefits that ginseng provides. As a result, the global market for ginseng is seeing enormous demand from companies in these industries. Increasing consumer acceptance of Asian herbal flavors and demand for herbal medications are expected to drive market growth during the outlook period. Consumers not only prefer healthy foods but are more willing than ever to pay for non-GMO foods that contain no artificial additives. Raising consumer awareness about health is an important factor in the transformation of the food industry. The demand for ginseng is expected to increase as most companies in the food market look for ingredients that contain better nutrients in their products. The main reason for this situation is the antioxidant and anti-aging properties of ginseng. The main companies that work in cosmetics and personal care are increasing the use of ginseng in their products.

To take advantage of these benefits, the demand for ginseng from suppliers that make cosmetics and personal care products is increasing significantly. This factor is driving the growth of the global ginseng market. Ginseng extract, nowadays, is highly adopted in the personal and cosmetic care products, nutritional supplements and medicines owing to its properties like anti-cancer, anti-inflammatory and antioxidants. Important benefits such as lowering blood sugar, powerful antioxidants, relieving fatigue, strengthening the immune system, and improving brain function are essential elements of the industry expansion along with improving product demand. pharmacists. The pharmaceutical applications segment is expected to experience significant growth during the forecast period due to an aging population and expanding industry opportunities driven by increased new product launches by manufacturers of reliever medications. rare diseases. The global market for ginseng extract has seen tremendous growth opportunities in recent years. In particular, the overall increase in demand for cosmetics and health supplements containing ginseng as a key ingredient is expected to sustain global demand over the forecast period.

Restraints:

The side effects of excessive use of ginseng extract, such as high or low blood pressure, increased heart rate, loss of appetite, itching, headache, rash, diarrhea, and dizziness, hinder product demand and limit growth of the market.

Ginseng Extracts Market Segmentation Analysis:

The global ginseng extract market is segmented into liquid and powder by form, where the powdered segment accounted for the largest share of revenue at 52.1% in 2019, and is expected to show significant growth over the outlook period due to its ease of handling and preservation in food. In addition, the products in powder form have a low moisture content, which increases the shelf life and presents a high level of conservation. The powder segment is driven by other factors, including antioxidant, anti-inflammatory, beneficial, and anti-cancer properties. The liquid segment is expected to show the fastest-growth during the foreseen period as it is preferably used in functional foods and pharmaceutical formulations where the exact amount of liquid can be mixed to obtain a precise solution mixture. It also helps prevent fatigue, strengthens the immune system and improves mental and physical abilities in case of fatigue, lack of vitality, lack of concentration and recovery.

Depending on the application, the market is segmented into pharmaceuticals, food and beverages, cosmetics and personal care, and dietary supplements. The pharmaceutical sector had the highest revenues in 2019 with 52.5% due to the nutritional and medicinal benefits of ginseng extract. It is useful in the treatment of coma, gastrointestinal and cardiovascular diseases. The dietary supplement application segment is expected to record the fastest CAGR of 6.9% in terms of revenue over the forecast period, as it plays a major role in increasing immunity against bacterial and viral infections, autoimmune diseases and cancer. The ginseng extract contained in dietary supplements strengthens the body's resistance to disease while affecting the immune system. The use of plants and herbs as alternatives to conventional therapies is particularly relevant for healthcare professionals who have moderately compromised immune systems or need selective tolerance treatments to reduce side effects.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Regional Analysis:

The Asia-Pacific region accounted for the largest share of revenue at 67.9% in 2019 due to the rapid utilization of food manufacturing, which showed the highest growth than other products. The shift in consumer preferences for natural foods due to the side effects of artificial additives is another factor driving market growth in the region. North America is expected to see an increase in demand during the conjecture period with the widespread use of ginseng extract as an adaptogen, and it is estimated that it will sell important nutritional and herbal supplements in the United States for thousands of years. The food industry is expected to see an increase in demand as nutrient awareness increases and consumers' purchasing power increases. Industry trends and analysis show that the growing market opportunity for ginseng extract is primarily driven by growing demand from the health food industry in North America and Asia Pacific. Countries such as the United States, China and South Korea are significantly leading the ginseng extract industry as demand for dietary supplements increases in line with the trend of increasing preventive health care practices due to rising health care costs. Furthermore, European countries such as the UK, Germany and France are expected to drive growth in the coming years due to the rapid expansion of the pharmaceutical sector.

Key Players in the Market:

Major Key Players in the Global Ginseng Extracts Market are

• Shanti Natural
• RFI Ingredients
• KGEC
• Hangzhou Skyherb
• Orkla Health
• SA Herbal Bioactives
• LiuyangNaturalin Bio
• KOEI KOGYO
• Nino Biotech
• Sinochem Pharmaceutical
• Clariant
• Changsha Huir Biological-Tech
• Baoji Herbest Bio-tech