Ginseng Extract Market Report

Ginseng Extract Market Size:

The global ginseng extract market size reached US$ 8.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 15.3 Billion by 2032, exhibiting a growth rate (CAGR) of 6.1% during 2024-2032. The market is experiencing steady growth driven by the growing prevalence of chronic diseases like diabetes, cardiovascular diseases, and obesity, rising focus on health and wellness among individuals, thriving cosmetics industry, and increasing preferences for dietary supplements.

Ginseng Extract Market Analysis:

• Market Growth and Size: The market is witnessing moderate growth, driven by the increasing focus on natural remedies, along with the rising consumption of ginseng extracts for stress relief.
• Technological Advancements: The introduction of more efficient extraction processes, enhancing product quality and yield. Moreover, advancements in packaging and preservation techniques aid in extending the shelf life of ginseng products.
• Industry Applications: Ginseng extract is widely employed in the pharmaceuticals, nutraceuticals, cosmetics, and food and beverage (F&B) sectors.
• Geographical Trends: Asia Pacific leads the market, driven by its employment in skincare products. However, North America is emerging as a fast-growing market due to the rising consumption of ginseng-based dietary supplements.
• Competitive Landscape: Key players in the market are focusing on sustainable and ethical sourcing practices of ginseng extracts to ensure a consistent supply of high-quality raw materials.
• Challenges and Opportunities: While the market faces challenges, such as maintaining consistent ginseng quality, it also encounters opportunities in the thriving pharmaceutical sector.
• Future Outlook: The future of the ginseng extract market looks promising, with the increasing focus on natural solutions. Additionally, the rising adoption of sustainable production practices is expected to bolster the market growth.

Ginseng Extract Market Trends:

Rising focus on health and wellness

The rising focus on health and wellness among the masses across the globe is supporting the growth of the market. In line with this, people are increasingly becoming conscious of their well-being and are actively seeking natural solutions to support their health. Moreover, ginseng is known for its adaptogenic properties and is considered a natural way to boost immunity, enhance cognitive function, and combat fatigue. These benefits align with the growing preferences for holistic approaches to health. Furthermore, individuals are looking beyond pharmaceuticals for preventive measures and overall well-being. Apart from this, increasing preferences for synthetic medications is contributing to the growth of the market. Additionally, the growing awareness among individuals about the importance of maintaining a healthy lifestyle is offering a positive market outlook.

Growing prevalence of chronic diseases

The escalating demand for ginseng extracts on account of the rising prevalence of numerous chronic diseases, such as diabetes, cardiovascular diseases, arthritis, and obesity, among the masses around the world is bolstering the growth of the market. In line with this, ginseng is an ancient herb that is known for its potential health benefits, as it contains active compounds that may help manage these conditions. Furthermore, ginseng extracts are beneficial in improving blood sugar control in individuals with diabetes. Additionally, they have anti-inflammatory properties that assist in supporting heart health by lowering blood pressure and cholesterol levels. Furthermore, ginseng extracts are associated with weight management, as they can aid in boosting metabolism and reducing appetite.

Increasing preferences for dietary supplements

The rising consumption of ginseng-based dietary supplements among the masses is contributing to the growth of the market. Apart from this, ginseng extracts are known for its adaptogenic properties, which help the body cope with stress and support overall well-being. In supplements, ginseng extracts are highly regarded for their ability to boost energy levels, enhance cognitive function, and alleviate fatigue. Moreover, they are often included in formulations aimed at improving mental alertness and physical performance. In line with this, ginseng extracts are beneficial in strengthening the immune system, increasing stamina, and promoting enhanced sleep quality, which is impelling the market growth. Furthermore, ginseng-based supplements enhance vitality and overall health.

Thriving cosmetics industry

The increasing employment of ginseng extracts in the cosmetics sector is supporting the growth of the market. In line with this, ginseng extracts are natural ingredients that are derived from the roots of the ginseng plant and is valued for its ability to rejuvenate and nourish the skin. In cosmetics, ginseng extracts are often incorporated into skincare products, such as serums, creams, and masks. Additionally, they have antioxidant properties that protect the skin from the harmful effects of free radicals, which may lead to premature aging and skin damage. Furthermore, ginsenosides are the active compounds in ginseng extracts that benefit in promoting collagen production, maintaining skin elasticity, and reducing the appearance of fine lines and wrinkles. In addition, ginseng extracts are suitable for sensitive or irritated skin and can soothe redness.

Ginseng Extract Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on form and application. 

Breakup by Form:

• Powder
• Liquid
   

Powder accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the form. This includes powder and liquid. According to the report, powder represented the largest segment.

Powder extract is one of the most common forms of ginseng available in the market. It is widely used in the production of dietary supplements, herbal teas, and traditional medicine formulations. In line with this, powdered ginseng extract is preferred due to its enhanced versatility and ease of incorporation into various products. People are increasingly preferring powder form on account of its convenience and longer shelf life as compared to liquid forms.

Liquid ginseng extract is another popular form, known for its rapid absorption by the body. It is often used in tinctures, tonics, and energy drinks due to its quick action. Apart from this, liquid ginseng extract is favored by individuals seeking immediate energy or stress relief. Moreover, people are preferring liquid form for its potential to provide more concentrated doses.

Breakup by Application:

• Cosmetics and Personal Care
• Pharmaceuticals
• Dietary Supplements
• Food and Beverages
   

Pharmaceuticals hold the largest market share

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes cosmetics and personal care, pharmaceuticals, dietary supplements, and food and beverages. According to the report, pharmaceuticals accounted for the largest market share.

The rising usage of ginseng extracts in pharmaceutical applications due to their health benefits, including immune system support, cognitive function enhancement, and stress reduction, is propelling the growth of the market. They are often incorporated into medicinal capsules, tablets, and syrups. Pharmaceutical companies are widely utilizing ginseng extracts for their natural origin and potential therapeutic properties, making them key ingredients in certain medications.

Ginseng extracts are used in cosmetics and personal care due to their antioxidant properties. They are found in skincare items, such as creams, serums, and masks, to promote skin health by offering anti-aging effects. The natural appeal of ginseng extracts align with the rising focus on natural and organic ingredients. Apart from this, ginseng extracts assist in rejuvenating and revitalizing the skin, which is contributing to the market growth.

Furthermore, ginseng extracts are often used as a primary ingredient in dietary supplements that aim to boost energy, enhance vitality, and support overall well-being. Consumers are increasingly seeking natural alternatives to address specific health concerns. The convenience of capsules, tablets, and powder forms of ginseng extracts make them accessible to a broad range of consumers.

In the food and beverage (F&B) sector, ginseng extracts are utilized in traditional culinary dishes, such as soups and teas, as a flavoring and potential health enhancer. Ginseng extracts are also used in energy drinks and functional beverages, where they are positioned as natural energy boosters. The inclusion of ginseng extracts in certain food and beverage products caters to consumers looking for natural and functional ingredients.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia Pacific leads the market, accounting for the largest ginseng extract market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific accounted for the largest market share as it is the native habitat of ginseng, particularly Panax ginseng. In addition, ginseng is widely cultivated in countries like South Korea, China, and Japan due to their optimal climate and soil conditions. Moreover, the growing demand for ginseng-based products, ranging from herbal remedies to dietary supplements, is offering a positive market outlook. Furthermore, the rising employment of ginseng in skincare products is propelling the growth of the market in the region.

North America stands as another key region in the market, driven by the increasing awareness among individuals about the benefits of ginseng, such as improved energy levels and stress management. In addition, the rising cultivation of Panax quinquefolius, which is a native ginseng species, is bolstering the growth of the market. Besides this, the increasing consumption of ginseng-based dietary supplements among the masses is impelling the market growth.

Europe maintains a strong presence in the market, with the growing production of high-quality ginseng extracts to ensure the safety and satisfaction of individuals. Apart from this, the rising focus on health and wellness among the masses in the region is propelling the market growth. Furthermore, increasing preferences for natural remedies that support various aspects of health, including cognitive function, stress management, and immune system support, are contributing to the market growth. In addition, the growing employment of ginseng extracts in dietary supplements improving overall health is positively influencing the market.

Latin America exhibits growing potential in the ginseng extract market on account of the rising focus on natural and herbal remedies for health and wellness. In line with this, the increasing usage of ginseng extracts in the pharmaceutical and nutraceutical sectors is supporting the growth of the market in the region. Moreover, the rising demand for health products due to health consciousness among people is bolstering the market growth.

The Middle East and Africa region show a developing market for ginseng extract, primarily driven by the increasing focus on boosting energy and vitality among individuals. Apart from this, people are seeking natural solutions to maintain their well-being, which is strengthening the market growth. Additionally, the growing demand for ginseng extracts on account of the burgeoning pharmaceutical sector is positively influencing the market in the region.

Leading Key Players in the Ginseng Extract Industry:

Key players in the market are focusing on sustainable and ethical sourcing practices of ginseng extracts to ensure a consistent supply of high-quality raw materials. In line with this, companies are investing in research and development (R&D) activities to explore the potential health benefits and applications of ginseng extracts by studying its pharmacological properties, bioactive compounds, and new formulations. Additionally, manufacturers are implementing stringent quality control measures to ensure that their ginseng extract meets the regulatory standards and expectations of individuals. Apart from this, companies are developing new ginseng extract formulations, such as liquid extracts, capsules, or unique blends with other natural ingredients, to cater to the diverse needs and preferences of people.

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Baoji Herbest Bio-Tech
• Changsha Huir Biological-Tech
• Clariant AG
• Hangzhou Skyherb
• KGEC
• Koei Kogyo
• Naturalin Bio-Resources Co. Ltd.
• Nino Biotech
• Orkla Health
• RFI ingredient
• Shanti Natural
• Sinochem Pharmaceutical
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Latest News:

• November 24, 2020: Clariant AG announced the launch of “RetroFuture”, three skin care formulations, made from extracts of traditional ingredients, ayurvedic plants, herbs and spices, and plant-derived molecules that are blended with concentrated active ingredients sourced with minimal depletion of plant or vegetal resources. Among these formulations, nourishing hand mask features a popular traditional Chinese medicine herbal remedy, ginseng, in the form of the company's ingredient, Ginseng Extract to provide skin protection from UV damage.

Ginseng Extract Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the ginseng extract market from 2024-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global ginseng extract market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the ginseng extract industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.