Global Ginseng Extracts Market Size, Trends, By Type (American ginseng, Asian ginseng, Siberian ginseng), By Application (Dietary Supplements, Cosmetics, Food & Beverages, Pharmaceuticals), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa): Global Opportunity Analysis and Industry Forecast, 2023-2030.
Global Ginseng Extracts Market
The Global Ginseng Extracts Market was valued at US$ 270.33 Mn in 2022, estimated to reach US$ 454.26 Mn by 2030, with a CAGR of 6.67% from 2023-2030.
Ginseng extracts are derived from the roots of the ginseng plant, which is known for its various health benefits. Ginseng has been used in traditional Chinese medicine for centuries and is known for its adaptogenic properties, which can help the body cope with stress and promote overall well-being. Ginseng extracts are rich in ginsenosides, which are believed to be responsible for many of the plant's health benefits, such as improving cognitive function, boosting the immune system, and reducing inflammation.
Market Drivers
The global market for ginseng extracts is primarily driven by the increasing demand for natural and herbal remedies for various health issues. With the rising awareness among consumers regarding the benefits of herbal and natural products, the demand for ginseng extracts is expected to continue to grow.
Additionally, the increasing prevalence of chronic diseases such as diabetes, cancer, and cardiovascular diseases is also driving the demand for ginseng extracts, as they are believed to have anti-inflammatory and antioxidant properties that can aid in preventing and managing these conditions. Furthermore, the growing popularity of ginseng extracts in the food and beverage industry is also contributing to market growth, as they are used as a natural flavoring agent in various products.
Market Restraints
The global ginseng extracts market could hinder its growth potential with the limited supply of ginseng due to its slow growth rate, which makes it a costly commodity. The cultivation of ginseng requires specific environmental conditions, which are not readily available in many parts of the world, making it challenging to produce ginseng on a large scale. Additionally, strict regulations and guidelines on the cultivation and harvesting of ginseng can limit the supply further.
Another restraint is the lack of awareness and understanding of the potential benefits of ginseng extracts, particularly in developing regions, which can limit the demand for these products.
Market Segmentation
The scope of the global ginseng extracts market covers segmentation based on type, application, and region.
Based on the type of ginseng, the market is divided into American ginseng, Asian ginseng, and Siberian ginseng. Based on application, the market can be segmented into dietary supplements, cosmetics, food and beverages, and pharmaceuticals.
Regional Analysis
The global ginseng extracts market is segmented into 5 main regions, namely, North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The Asia-Pacific region is dominating the ginseng extracts market, mainly due to the widespread usage of ginseng in traditional medicine and dietary supplements in countries such as China, South Korea, and Japan. The region has a rich history and culture of using ginseng for medicinal purposes and is also the largest producer of ginseng globally.
North America and Europe are also significant markets for ginseng extracts due to the increasing demand for natural and organic ingredients in the food and beverage, dietary supplements, and personal care industries. The ginseng extract market in these regions is expected to witness fast growth due to the rising health consciousness and the increasing popularity of traditional medicines and natural remedies.
Key Players
Korea Ginseng Corp, Nature's Answer, Sinochem Group, RFI Ingredients LLC, Orkla Health, Amorepacific Corporation, NOW Foods, Changsha Huir Biological-Tech Co Ltd, Daedong Korea Ginseng Co Ltd, Hangzhou Skyherb, etc.
Market Taxonomy
By Type
• American ginseng
• Asian ginseng
• Siberian ginseng
By Application
• Dietary Supplements
• Cosmetics
• Food & Beverages
• Pharmaceuticals
By Region
• North America
o U.S.
o Canada
o Mexico
• Latin America
o Brazil
o Argentina
o Colombia
o Peru
o Chile
o Venezuela
o Rest of Latin America
• Europe
o Germany
o France
o UK
o Russia
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o New Zealand
o Singapore
o Malaysia
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o Kuwait
o South Africa
o Rest Middle East & Africa
Key Questions Addressed by the Report
• What are the key opportunities in the Global Ginseng Extracts Market?
• What will be the growth rate from 2023 to 2030?
• Which segment/region will have the highest growth?
• What are the factors that will impact/drive the market?
• What is the competitive landscape in the industry?
• What is the role of key players in the value chain?
Global Ginseng Extracts Market
1 Introduction
1.1 Objective of the Study
1.2 Market Definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Ginseng Extracts Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to Recent Energy Crisis
4.2.5 Cumulative Impact due to Nearing Economic Downturn
4.2.6 Post Covid-19 World Supply & Demand Conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Ginseng Extracts Market, By Type
5.1 Y-o-Y Growth Comparison, By Type
5.2 Global Ginseng Extracts Market Share Analysis, By Type
5.3 Global Ginseng Extracts Market Size and Forecast, By Type
5.3.1 American ginseng
5.3.2 Asian ginseng
5.3.3 Siberian ginseng
6 Global Ginseng Extracts Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Global Ginseng Extracts Market Share Analysis, By Application
6.3 Global Ginseng Extracts Market Size and Forecast, By Application
6.3.1 Dietary Supplements
6.3.2 Cosmetics
6.3.3 Food & Beverages
6.3.4 Pharmaceuticals
7 Global Ginseng Extracts Market, By Region
7.1 Global Ginseng Extracts Market Share Analysis, By Region
7.2 Global Ginseng Extracts Market Size and Forecast, By Region
7.3 Global Ginseng Extracts Market Trends and Forecast, By Region
8 North America Ginseng Extracts Market Analysis and Forecast (2023-2030)
8.1 Introduction
8.2 North America Ginseng Extracts Market Share Analysis, By Type
8.3 North America Ginseng Extracts Market Size and Forecast, By Application
8.4 North America Ginseng Extracts Market Size and Forecast, By Country
8.4.1 U.S.
8.4.1.1 Market Size and Forecast, By Type
8.4.1.2 Market Size and Forecast, By Application
8.4.2 Canada
8.4.2.1 Market Size and Forecast, By Type
8.4.2.2 Market Size and Forecast, By Application
8.4.3 Mexico
8.4.3.1 Market Size and Forecast, By Type
8.4.3.2 Market Size and Forecast, By Application
9 Europe Ginseng Extracts Market Analysis and Forecast (2023-2030)
9.1 Introduction
9.2 Europe Ginseng Extracts Market Share Analysis, By Type
9.3 Europe Ginseng Extracts Market Size and Forecast, By Application
9.4 Europe Ginseng Extracts Market Size and Forecast, By Country
9.4.1 Germany
9.4.1.1 Market Size and Forecast, By Type
9.4.1.2 Market Size and Forecast, By Application
9.4.2 France
9.4.2.1 Market Size and Forecast, By Type
9.4.2.2 Market Size and Forecast, By Application
9.4.3 UK
9.4.3.1 Market Size and Forecast, By Type
9.4.3.2 Market Size and Forecast, By Application
9.4.4 Russia
9.4.4.1 Market Size and Forecast, By Type
9.4.4.2 Market Size and Forecast, By Application
9.4.5 Italy
9.4.5.1 Market Size and Forecast, By Type
9.4.5.2 Market Size and Forecast, By Application
9.4.6 Spain
9.4.6.1 Market Size and Forecast, By Type
9.4.6.2 Market Size and Forecast, By Application
9.4.7 Rest of Europe
9.4.7.1 Market Size and Forecast, By Type
9.4.7.2 Market Size and Forecast, By Application
10 Asia Pacific Ginseng Extracts Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 Asia Pacific Ginseng Extracts Market Share Analysis, By Type
10.3 Asia Pacific Ginseng Extracts Market Size and Forecast, By Application
10.4 Asia Pacific Ginseng Extracts Market Size and Forecast, By Country
10.4.1 China
10.4.1.1 Market Size and Forecast, By Type
10.4.1.2 Market Size and Forecast, By Application
10.4.2 Japan
10.4.2.1 Market Size and Forecast, By Type
10.4.2.2 Market Size and Forecast, By Application
10.4.3 India
10.4.3.1 Market Size and Forecast, By Type
10.4.3.2 Market Size and Forecast, By Application
10.4.4 South Korea
10.4.4.1 Market Size and Forecast, By Type
10.4.4.2 Market Size and Forecast, By Application
10.4.5 Australia
10.4.5.1 Market Size and Forecast, By Type
10.4.5.2 Market Size and Forecast, By Application
10.4.6 New Zealand
10.4.6.1 Market Size and Forecast, By Type
10.4.6.2 Market Size and Forecast, By Application
10.4.7 Singapore
10.4.7.1 Market Size and Forecast, By Type
10.4.7.2 Market Size and Forecast, By Application
10.4.8 Malaysia
10.4.8.1 Market Size and Forecast, By Type
10.4.8.2 Market Size and Forecast, By Application
10.4.9 Rest of Asia
10.4.9.1 Market Size and Forecast, By Type
10.4.9.2 Market Size and Forecast, By Application
11 Latin America Ginseng Extracts Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Latin America Ginseng Extracts Market Share Analysis, By Type
11.3 Latin America Ginseng Extracts Market Size and Forecast, By Application
11.4 Latin America Ginseng Extracts Market Size and Forecast, By Country
11.4.1 Brazil
11.4.1.1 Market Size and Forecast, By Type
11.4.1.2 Market Size and Forecast, By Application
11.4.2 Argentina
11.4.2.1 Market Size and Forecast, By Type
11.4.2.2 Market Size and Forecast, By Application
11.4.3 Colombia
11.4.3.1 Market Size and Forecast, By Type
11.4.3.2 Market Size and Forecast, By Application
11.4.4 Peru
11.4.4.1 Market Size and Forecast, By Type
11.4.4.2 Market Size and Forecast, By Application
11.4.5 Chile
11.4.5.1 Market Size and Forecast, By Type
11.4.5.2 Market Size and Forecast, By Application
11.4.6 Venezuela
11.4.6.1 Market Size and Forecast, By Type
11.4.6.2 Market Size and Forecast, By Application
11.4.7 Rest of Latin America
11.4.7.1 Market Size and Forecast, By Type
11.4.7.2 Market Size and Forecast, By Application
12 Middle East Ginseng Extracts Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Middle East Ginseng Extracts Market Share Analysis, By Type
12.3 Middle East Ginseng Extracts Market Size and Forecast, By Application
12.4 Middle East Ginseng Extracts Market Size and Forecast, By Country
12.4.1 Saudi Arabia
12.4.1.1 Market Size and Forecast, By Type
12.4.1.2 Market Size and Forecast, By Application
12.4.2 UAE
12.4.2.1 Market Size and Forecast, By Type
12.4.2.2 Market Size and Forecast, By Application
12.4.3 Egypt
12.4.3.1 Market Size and Forecast, By Type
12.4.3.2 Market Size and Forecast, By Application
12.4.4 Kuwait
12.4.4.1 Market Size and Forecast, By Type
12.4.4.2 Market Size and Forecast, By Application
12.4.5 South Africa
12.4.5.1 Market Size and Forecast, By Type
12.4.5.2 Market Size and Forecast, By Application
12.4.6 Rest of Middle East & Africa
12.4.6.1 Market Size and Forecast, By Type
12.4.6.2 Market Size and Forecast, By Application
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14 Company Profiles
14.1 Korea Ginseng Corp
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2 Nature's Answer
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3 Sinochem Group
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 RFI Ingredients LLC
14.4.1 Overview
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Orkla Health
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 Amorepacific Corporation
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 NOW Foods
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 Changsha Huir Biological-Tech Co Ltd
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 Daedong Korea Ginseng Co Ltd
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
14.10 Hangzhou Skyherb
14.10.1 Overview
14.10.2 Offerings
14.10.3 Key Financials
14.10.4 Business Segment & Geographic Overview
14.10.5 Key Market Developments
14.10.6 Key Strategies
