IMARC Group, a leading market research company, has recently released a report titled “Ginseng Extract Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global ginseng extract market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the Ginseng Extract Market?

The global ginseng extract market size reached US$ 8.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.1 Billion by 2028, exhibiting a growth rate (CAGR) of 6.3% during 2023-2028.

What is Ginseng Extract?

Ginseng extract is derived from the root of ginseng plants, which belong to the Panax genus. It’s renowned for its antioxidant and anti-inflammatory properties. This extract is commonly used in traditional medicine, especially in Asia and North America, and is thought to help improve concentration, memory, and physical stamina. It may also aid in lowering blood sugar levels and boosting immune function. Ginseng extract is available in various forms, including powders, capsules, and teas, and is a staple in many dietary supplements. Its popularity stems from its reputation as an adaptogen, a compound that is believed to help the body resist the damaging effects of stress and restore homeostasis.

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What are the Growth Prospects and Trends in the Ginseng Extract Industry?

The increasing health consciousness among consumers represents one of the key factors driving the growth of the market across the globe. This, coupled with the rise in demand for natural and herbal supplements is acting as a major growth-inducing factor. Ginseng extract is perceived as beneficial for boosting immunity, enhancing energy levels, and improving overall wellness. There is a growing global interest in traditional medicine systems like Ayurveda and Traditional Chinese Medicine (TCM), where ginseng has been a key component for centuries. Ongoing research suggesting the potential health benefits of ginseng in managing stress, fatigue, diabetes, and cognitive function is fueling interest among health-conscious consumers. With the global rise in the aging population, there is an increase in demand for natural supplements that purportedly aid memory enhancement, a segment where ginseng extract is highly sought after. The rising disposable incomes, particularly in developing countries, are enabling a greater number of consumers to invest in premium health supplements, including ginseng extracts. The expansion of e-commerce platforms is making ginseng extract more accessible to consumers worldwide, which is broadening the market reach.

Who are the Key Players Operating in the Ginseng Extract Market?

The competitive landscape of the industry has also been examined along with the profiles of the key players:

  • 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.

What is Included in Market Segmentation?

The report has categorized the market based on form, application and region.

Breakup by Form:

  • Powder
  • Liquid

Breakup by Application:

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

Regional Analysis:

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

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Key Highlights of the Report:                                                    

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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