Ginseng is a plant categorized by a single stalk and fleshy roots with green oval-shaped leaves. It is a perennial plant which can live for more than a century. It is an herbal supplement whose extracts are in huge demand commercially, especially for its excellent and extraordinary characteristics of possessing anti-cancer, anti-inflammatory, and antioxidant properties. It is also utilized in the homeopathic treatment of stress, depression, attention deficit hyperactivity disorder, and low libido.
Ginseng is majorly found in Eastern Asia and North America and is mostly cultivated in Bhutan, China, and Korea. It is widely used for its therapeutic welfares is also used as a medicine for improving cancer prevention, cognitive function, and anti-inflammation.
The global ginseng extracts market has witnessed tremendous growth opportunities in the past few years. Increase in the overall demand for cosmetics products and dietary supplements, which are particularly framed and encompass ginseng as a key ingredient is projected to upkeep the global demand during the forecast period.
In addition, increase in use of ginseng especially in pharmaceutical applications to alleviate the risk of several chronic diseases such as erectile dysfunction, heart disease, fatigue, hepatitis C, and high blood pressure is also anticipated to boost the market growth during the forecast period.
The global ginseng extracts market can be segmented on the basis of form, application, distribution channel, and geography. On the basis of form, it is divided into powder, capsules, and liquid. On the basis of application, it is classified into dietary supplements, personal care, pharmaceutical, food, and oral care. On the basis of distribution channel, the market is categorized into pharmacies/drugstore, hypermarket/supermarket, online retailing, health/beauty store, and direct selling. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global market are focusing on key market strategies such as mergers, acquisitions, collaborations, and partnerships. They are also focusing on strengthening their market reach in order to maintain their goodwill in the ever competitive market.
Some of the key players in the global market include:
- The Boots Company PLC
- Elemis Ltd
- RFI Ingredients
- Starwest Botanicals
- Korean Ginseng Export Corporation
- Nature Essential
- Allcura Naturheilmittel GmbH
- Oxford Vitality
- This report provides a quantitative analysis of the current trends, estimations, and dynamics from 2016 to 2023 to assist in identifying the prevailing market opportunities.
- Major countries in each region are mapped according to the individual market revenue.
- The region-wise and country-wise ginseng extracts market conditions are comprehensively analyzed.
- This study evaluates the competitive landscape and the value chain analysis to understand the competitive environment across geographies.
- An in-depth analysis of each segment of the ginseng extracts market is provided, to assist the prevailing market opportunities.
Ginseng Extracts Market Key Segments:
- Dietary Supplements
- Personal Care
- Oral Care
By Distribution Channel
- Online Retailing
- Health/Beauty Store
- Direct Selling
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA