Global Share of Ginseng Market Projected to Reach USD 34 Billion by 2026: Facts & Factors

Ginseng Market

Ginseng Market

Global Ginseng market expected to grow at a CAGR of 7.9% and is anticipated to reach around USD 34 Billion by 2026.

NEW YORK, UNITED STATES, May 20, 2020 /EINPresswire.com/ -- Findings from Facts and Factors report “Ginseng Market By Dosage Form (Powder, Liquid, and Capsule), By Application (Personal Care & Cosmetics, Food, Dietary Supplement, and Pharmaceuticals), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026?” states that the global Ginseng market in 2019 was approximately USD 20 Billion. The market is expected to grow at a CAGR of 7.9% and is anticipated to reach around USD 34 Billion by 2026.

Ginseng is a perennial plant with single stalk, fleshy roots, and green oval-shaped leaves. This herbal supplement is used on a commercial level owing to its excellent characteristics such as anti-cancer, anti-inflammatory, and antioxidant properties. It is used in homeopathic therapies including stress, low libido, attention deficit hyperactivity disorder, and depression.

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Key Market Players:

Some of the key players in the global Ginseng market include Hangzhou Skyherb Technologies Co., Ltd., KGEC, S.A., RFI ingredient, Shanti Natural, Herbal BioSolutions, Herbal Bioactives LLP, Ginsana,Orkla Health UK, Clariant, and Liuyang Naturalin Bio-Tech Co., Ltd.

Market Drivers:

The beneficial factors such as antioxidant, lowering blood sugar, brain function enhancement, strengthening of the immune system, and tackling tiredness is likely to help the Ginseng market expand during the forecast period. The adaptogenic plant’s essential chemical component ginsenosides are anticipated to increase its application in various sectors such as food, personal care & cosmetics, dietary supplement, and pharmaceuticals. Furthermore, the growing aged population surges the demand for mitigating unusual diseases, thereby broadening the opportunities of the Ginseng market. Apart from this, the functional properties such as concentration enhancement, muscle damage prevention, Alzheimer’s disease treatment, and physical stamina improvement of ginseng are projected to bolster the growth of the market. Moreover, the high demand for dietary supplements owing to the growing health consciousness among the consumers will further propel the market. Stringent government regulations promoting medicinal plant cultivation, low manufacturing cost, increasing R&D activities, Internet popularity, and the growing presence of market players is estimated to augment the global Ginseng market growth.

Market Segment Dominance:

Powder dosage is anticipated to dominate the global Ginseng market

The changing consumer preference for functional foods and rapid urbanization is anticipated to augment the growth of the global Ginseng market. Ginseng’s digestion, absorption, and disease prevention are projected to surge the sale of powdered ginseng. The anti-cancer, antioxidant, and anti-inflammatory properties of these herbal plants help upsurge the business. Apart from this, the rising Internet popularity, online retail business, and high awareness toward nutritional enrichment attribute the promotion of the powered dosage form of ginseng.

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Dietary supplements hold the majority of the market share

The strong demand for dietary supplements and pharmaceutical items across the world will supplement the growth of the global Ginseng market. The growing demand for energy & immune level boosters, anti-aging products, hair growth promoters, and cognitive abilities & neural activity stimulators will further help expand the industry during the forecast timeframe. Moreover, the increasing health expenditure, health management solutions, and growing investments in the R&D activities are expected to boost the Ginseng market.

Regional Dominance:

The Asia Pacific is expected to exhibit the highest growth rate in the global Ginseng market during the forecast period

The Asia Pacific exhibits a significant growth rate owing to the growing use of ginseng in the food products. The growing demand for functional foods and rising cultivation of ginseng in this region is anticipated to boost the Ginseng market growth. Furthermore, the escalating number of ginseng manufacturing companies as the demand for additives is surging owing to its functional characteristics such as antiviral, anti-stress, anti-inflammatory, anti-obesity, and anti-cancer. Additionally, the rising population, nutritional diet awareness, and changing eating habits is estimated to broaden the market.

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This report segments the global Ginseng market as follows:

Global Ginseng Market: Dosage Form Segmentation Analysis

Powder

Liquid

Capsule

Others


Global Ginseng Market: Application Segmentation Analysis

Personal Care &Cosmetics

Food& Beverages

Dietary Supplement

Pharmaceuticals

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