IMARC Group’s latest report, titled “Ginseng Extract Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global ginseng extract market is anticipated to exhibit a CAGR of 6.61% during the forecast period (2022-2027). Ginseng extract is obtained by drying and processing ginseng, an oval-shaped root of a perennial plant called Panax ginseng found across Eastern Asia and North America. It is commonly referred to as an adaptogen, which enhances general vitality and resists biological, physical, and chemical stress. It is widely available in fresh, red, and white ginseng variants. It contains high levels of bioactive compounds, such as salicylic acid, phenolic acids maltol, p-coumaric acid, and vanillic acid. It also possesses anti-cancer, anti-inflammatory, and antioxidant properties. As a result, ginseng extract has extensive applications in manufacturing pharmaceutical drugs, foods and beverages, dietary supplements, and personal care products.
Global Ginseng Extract Market Trends:
Ginseng extract contains ginsenosides, a class of natural product steroid glycosides and triterpene saponins, that offer antidiabetic effects, insulin resistance reduction, and immunomodulating properties. Consequently, the extract is widely used to prepare various refreshing drinks and East Asian foods. This, along with the changing dietary preferences of individuals, represents the primary factor driving the market growth. Furthermore, the growing awareness about the health benefits of ginseng extract consumption has augmented the product demand. Besides this, the shifting consumer inclination toward leading a healthy lifestyle and the rising health consciousness among the masses are other major growth-inducing factors. In addition, due to its superior health benefits, there is a rise in product usage in the formulation of pharmaceutical drugs, nutraceuticals, and dietary supplements. Along with this, the increasing adoption of natural extracts, such as ginseng, as a vital component in the production of various creams, lotions, and face masks is propelling the market growth. This is further supported by the escalating demand for natural and organic skincare and personal care products among the masses. Other factors, including the emerging trend of preventive healthcare, rising consumption of functional foods, increasing consumer purchasing power, and easy product availability via online and offline channels, are also expected to provide a positive thrust to the market growth.
- Based on the form, the market has been bifurcated into powder and liquid.
- On the basis of the application, the market has been classified into cosmetics and personal care, pharmaceuticals, dietary supplements, and food and beverages.
- Region-wise, the market has been segmented into 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 Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being Baoji Herbest Bio-Tech Co., Ltd., Changsha Huir Biological-Tech Co., Ltd., Clariant AG, Hangzhou Skyherb Technologies. Co., Ltd., KGEC, Koei Kogyo Co., Ltd., Naturalin Bio-Resources Co. Ltd., Nino Biotech, Orkla Health, RFI ingredient, Shanti Natural, and Sinochem Pharmaceutical Co., Ltd.
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