Global Ginseng Extracts Market By Application (Pharmaceuticals, Food & Beverages, Dietary Supplements and Cosmetics & Personal Care), By Form (Powder and Liquid), By Region, Industry Analysis and Forecast, 2020 - 2026
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Market Report Description
The Global Ginseng Extracts Market size is expected to reach $35.9 Million by 2026, rising at a market growth of 9.4% CAGR during the forecast period. Ginseng extract is obtained from plant ginseng, which is an adaptogenic plant. So the ginseng extract is commonly known as an adaptogen.
This plant-based extract has the capacity to resist physical, chemical, and biological stress and improves general vitality. In addition to it, ginseng roots are known to contain significant levels of highly bioactive compounds such as salicylic acid, p-coumaric acid, phenolic acids maltol, and vanillic acid. The ginseng plant is recognized as a single stalk plant that has fleshy roots and green oval-shaped leaves. It is a type of herbal supplement. There is an increasing demand for these extracts due to their anti-inflammatory, anti-cancer, and antioxidant properties.
A rise in consumer acceptance for oriental and Asian flavors and increasing demand for Chinese herbal medicine are anticipated to drive the growth of the market in the coming years. Ginseng roots contain a unique variety of saponin called ginsenosides. This saponin variety possesses health-beneficial effects such as antioxidant, antihypertensive, insulin resistance reduction, immunomodulating, antitumor, chemoprotective, antidiabetic, and phytoestrogens. Depending on the processing method, Ginseng extract is categorized as red ginseng, fresh ginseng, and white ginseng.
Ginseng is largely cultivated in North America and Eastern Asia including China, Bhutan, and Korea. It is extensively used for its therapeutic benefits. As the extracts of ginseng possess anti-inflammatory and antioxidant properties, it is also used as a medicine that improves cognitive function and prevents inflammation. According to a report by Baeg and Seung-Ho So in NIH, there is a worldwide expansion of the health food market, still, ginseng is considered to have market growth prospect.
Based on Application, the market is segmented into Pharmaceuticals, Food & Beverages, Dietary Supplements and Cosmetics & Personal Care. The pharmaceutical segment had the largest market revenue share of the market in 2019. This is due to the nutritional and medicinal benefits of ginseng extract. It is helpful in the treatment of gastrointestinal disease, coma, and cardiovascular disease. Moreover, it plays an important role in physiological processes such as neurodegenerative disorders, diabetic disorders, immunological diseases, and several heart diseases.
Based on Form, the market is segmented into Powder and Liquid. The liquid segment is expected to show the fastest growth over the forecasted period. As the liquid form of ginseng is preferably used as a functional food and also in medicinal preparations. It is added in a precise amount to get the final product. It also helps in boosting the immune system, preventing exhaustion, and improving mental and physical capacity in case of lack of concentration, fatigue, lack of vitality, and during convalescence.
|Market size value in 2019||USD 22.5 Million|
|Market size forecast in 2026||USD 35.9 Million|
|Historical Period||2016 to 2018|
|Forecast Period||2020 to 2026|
|Revenue Growth Rate||CAGR of 9.4% from 2020 to 2026|
|Number of Pages||138|
|Number of Tables||260|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Application, Form, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America is likely to show increased demand over the forecasted period due to the widespread use of ginseng extract as an adaptogen. That is why it is considered as the significant selling herbal and nutritional supplements in the country for the past many years.
Free Valuable Insights: Global Ginseng Extracts Market to reach a market size of $35.9 million by 2026
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Clariant AG, Orkla ASA, Sinochem Group Co., Ltd., RFI Ingredients, LLC, Shanti Natural Extracts, Hangzhou Skyherb Technologies Co., Ltd., S.A. Herbal Bioactives LLC, Changsha Huir Biological-Tech Co., Ltd., Baoji Herbest Bio-Tech Co., Ltd. and Liuyang Naturalin Bio-Tech Co., Ltd.
Scope of the Study
Market Segments Covered in the Report:
- Food & Beverages
- Dietary Supplements
- Cosmetics & Personal Care
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Clariant AG
- Orkla ASA
- Sinochem Group Co., Ltd.
- RFI Ingredients, LLC
- Shanti Natural Extracts
- Hangzhou Skyherb Technologies Co., Ltd.
- S.A. Herbal Bioactives LLC
- Changsha Huir Biological-Tech Co., Ltd.
- Baoji Herbest Bio-Tech Co., Ltd.
- Liuyang Naturalin Bio-Tech Co., Ltd.
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Ginseng Extracts Market Related Reports:
How valuable the ginseng extracts market be in the future?
The global ginseng extracts market size is expected to reach $35.9 million by 2026.
What are the key factors that drive ginseng extracts industry?
The major factors that are anticipated to drive the ginseng extracts industry include demand for herbal and botanicals supplements.
What are the major top companies in the competitive landscape?
Clariant AG, Orkla ASA, Sinochem Group Co., Ltd., RFI Ingredients, LLC, Shanti Natural Extracts, Hangzhou Skyherb Technologies Co., Ltd., S.A. Herbal Bioactives LLC, Changsha Huir Biological-Tech Co., Ltd., Baoji Herbest Bio-Tech Co., Ltd. and Liuyang Naturalin Bio-Tech Co., Ltd.
At what CAGR is the ginseng extracts market estimate to grow in the forecast period?
The expected CAGR of ginseng extracts market is 9.4% from 2020 to 2026.
Which segment dominated the ginseng extracts market in 2019?
The Pharmaceuticals market dominated the Global Ginseng Extracts Market by Application in 2019.