Ginseng Market

Ginseng Market
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Report Description
Ginseng is a perennial plant primarily found in North America and Eastern Asia. It is largely
cultivated in China, Bhutan, and Korea. Ginseng has been traditionally used for its
therapeutic benefits, and today, it is used as a medicine for improving cognitive function,
cancer prevention, and anti-inflammation. Ginseng is widely available in seed and root form.
Ginseng Market Segmentation
Global ginseng market has been segmented on the basis of form into powder, liquid, and
capsules. Among these, demand for ginseng in powdered form is quite substantial. The
growth of this segment is attributed to rising consumption of ginseng as energy booster.
Demand for ginseng in capsule form is also witnessing steady growth, owing to its application
in the pharmaceutical sector.
The global ginseng market is also segmented on the basis of application into personal care,
dietary supplements, food, pharmaceutical, and oral care. Among these, dietary supplements
is the leading application segment in terms of revenues. Dietary supplements is subsegmented into heart health, weight loss, sports nutrition, and immune health supplements.
The global dietary supplements market was valued at over US$ 123 billion in 2015, and is
poised to increase at 7.4% CAGR through 2025. Demand for ginseng from the dietary
supplements sector will continue to remain strong throughout the forecast period 20162026.
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Personal care and pharmaceutical sector are other key end-use application segments for
ginseng. Personal care segment is further sub-segmented into skin care products and hair
care products. In addition food segment is also sub segmented as tea and chocolate.
On the basis of distribution channel, the ginseng market is segmented into
hypermarket/supermarket, pharmacies/drugstore, health/beauty store, online retailing, and
direct selling. Among these, pharmacies/drugstore account for bulk of ginseng sales,
followed by health/beauty store. The growth of pharmacies/drugstore for ginseng market is
supported by increased usage of ginseng in drugs and cosmetics products.
Ginseng sales are also growing through online retail, owing to increasing internet
penetration and rising consumer preference for convenience purchasing
The ginseng market has been further segmented on the basis of region. North America is
expected to be the major market for ginseng products. Increasing demand of dietary
supplements containing ginseng is expected to drive the market growth across the region.
The U.S. will continue to be the largest market for ginseng in North America.
The ginseng market in Europe is expected to witness steady growth during the forecast
period. Focus on health and wellness is influencing F&B manufacturers to introduce organic
ingredients in their offerings, giving a boost to overall demand for ginseng.
The Asia Pacific ginseng market is dominated by China, which remains a leading producer
and consumer globally as well. Production and export of ginseng has witnessed a steady
growth since China Health Ministry approved its use in food products in 2012.
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Ginseng Market: Drivers
Increased consumption of dietary supplements and cosmetics products, which are specially
formulated and contain ginseng as an ingredient is expected to support global demand.
Moreover, increasing usage of ginseng in pharmaceutical products to mitigate the risk of
various diseases, such as heart disease, erectile dysfunction, hepatitis C, fatigue, and high
blood pressure is also expected to fuel market growth over the forecast period.
Ginseng Market: Key Players
Key players operating in the ginseng market includes Amway,The Boots Company PLC, Elemis
Ltd, Inovital,RFI Ingredients, Starwest Botanicals, and Korean Ginseng Export Corporation.
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