Ginseng Market Forecast Report 2020 – 2027 – Top Key Players Analysis
The market report aims to provide an overview of the industry through detailed market segmentation. The report provides thorough information regarding the overview and scope of the market, along with the market drivers, restrains, and key trends. It covers both the quantitative and qualitative aspects of the industry in each region and country participating in the study.
Key Drivers of the Ginseng Market:
The increasing demand for plant-based products across the globe and the rising health awareness among consumers in terms of consumption of dietary supplements are the key factors propelling the growth of the global ginseng market. The consumer’s preference has drastically changed towards adopting organic plant-based products due to the growing awareness associated with the benefits provided by these products, such as reducing the chances of diseases and maintaining overall health. Several personal care organizations aim to launch ginseng extracts in their personal care and beauty product portfolios to capture the shifting demand of the customers. For example, a large number of companies are using ginseng as a key ingredient in different products, including essences, moisturizers, cleaners, and other skincare products. Ginseng acts as an antioxidant that maintains the skin elasticity, prevents aging, and increases the lifespan of skin cells.
The increasing usage of ginseng in the food and beverage sector in response to the expanding demand for healthier food products with enhanced nutritional value will increase the demand of the market. On the other edge of the spectrum, the easy availability of substitutes dietary supplements products such as chia seeds and quinoa will hinder the growth of the market during the forecast period.
This report splits the Ginseng Market as follows:
By Source:
- Wild Ginseng
- Cultivated Ginseng
By Form:
- Raw
- Powder
- Extract
By Variety:
- Oriental Ginseng
- American Ginseng
- Siberian Ginseng
- Others
By End-Use:
- Personal Care Products
- Dietary Supplements
- Food and Beverage Processing
- Pharmaceutical Products
By Region:
- North America
o United States of America
o Canada
- Asia Pacific
o China
o Japan
o India
o Rest of APAC
- Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
- RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
Competitive Landscape:
The ginseng market report also scans the competitive landscape and profiles the major players operating in the market, including Organika Health Products, Inc., Korean Ginseng Corp., RFI Ingredients, Koshiro Company Limited, Ilhwa USA, Inc., Daedong Korea Ginseng Co., Ltd., Ningbo Gianon Biotech Co., Ltd., Shanghai FanPharma Co., Ltd, TCM Adaptogen Warehouse Co., Limited, Sino-Nature International Co., Ltd., and Ambe Phytoextracts Pvt Ltd., among others.
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