Published Date: 3-Feb-2021
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According to a new report Global Ginseng Extracts Market, published by KBV research, 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.
The powder form segment had the largest revenue share of the market in 2019. It is anticipated to show significant growth in the forecasted period. This is due to the fact that powdered forms are very convenient to handle and can be preserved for a longer duration. Furthermore, powder forms of ginseng increase the shelf life as it has low water content and shows a high degree of preservability.
The Pharmaceuticals market dominated the Global Ginseng Extracts Market by Application in 2019. The dietary supplements application segment is likely to show the fast CAGR growth over the forecasted period. This is accredited to the fact that that it plays an important role in improving immunity against bacterial and viral infections, also used in the treatment of autoimmune disease. Ginseng extract in dietary supplements strengthens the resistance of the body to fight illness by boosting the immune system.
The Asia Pacific had the largest revenue share of the market in 2019 due to its rapid use in food product manufacturing. Shifting inclination of the consumer towards natural food products owing to side effects occurring from the human-made additives is another factor driving market growth in the region. The Europe market would showcase a CAGR of 8.9% during (2020 - 2026). Additionally, The North America market is estimated to grow at a CAGR of 8.2% during (2020 - 2026).
Full Report: https://www.kbvresearch.com/ginseng-extracts-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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