According to IMARC Group’s latest report, titled “Ginseng Extract Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, The global ginseng extract market grew at a CAGR of around 5% during 2015-2020. Panax ginseng is a perennial plant found across Eastern Asia and North America that has an oval-shaped root, namely ginseng. This root is dried and processed to procure ginseng extract that is widely utilized as a healthy substitute. It comprises of high levels of bioactive compounds, including salicylic acid, phenolic acid maltol, vanillic acid, and p-coumaric acid. Ginseng has anti-cancer, anti-inflammatory, and antioxidant properties due to which it is increasingly being used as a crucial component in the formulation of multiple pharmaceutical pro, dietary supplements, foods and beverage, and cosmetics and personal care products.
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The global ginseng market is primarily driven by the rising awareness regarding the health benefits offered by the consumption of ginseng extract. Furthermore, the increasing preferences among the masses to lead a healthy lifestyle, thereby catalyzing the utilization of ginseng extract in the preparation of several refreshing drinks and East Asian foods. Besides this, owing to its innumerable health benefits, ginseng extract is finding extensive applications in the manufacturing of pharmaceutical drugs and nutraceuticals supplements. Moreover, the growing product adoption to formulate natural and organic skincare and personal care products is also catalyzing the market growth. This, along with easy product availability through online and offline retail channels, will continue to drive the market growth in the coming years. Looking forward, IMARC Group expects the global ginseng extract market to exhibit moderate growth during the next five years.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with 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.
Market Segmentation:
Breakup by Form:
- Powder
- Liquid
Breakup by Application:
- Cosmetics and Personal Care
- Pharmaceuticals
- Dietary Supplements
- Food and Beverages
Breakup by Region:
- 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 (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- 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.
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