Ginseng Market worth $1.39 billion by 2030, growing at a CAGR of 4.54% - Exclusive Report by 360iResearch

The "Ginseng Market by Origin Type (American Ginseng, Oriental Ginseng, Siberian Ginseng), Nature (Cultivated, Wild), Source, Colour, Form, End-Use - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Ginseng Market to grow from USD 1.01 billion in 2023 to USD 1.39 billion by 2030, at a CAGR of 4.54%.

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Ginseng is a perennial condiment that belongs to the genus Panax within the family Araliaceae. Ginseng has been widely utilized in traditional medicine for its various health benefits, including boosting energy, reducing stress, promoting relaxation, lowering blood sugar and cholesterol levels, treating diabetes, and managing sexual dysfunction in men. Ginseng is a versatile herb with many applications and uses across different industries. Its pharmacological properties stem from its rich content of bioactive compounds, including ginsenosides, which are responsible for its adaptogenic, immune-modulating, cardioprotective, neuroprotective, and antioxidative effects. There are two main species of ginseng commonly known for their medicinal properties: Asian ginseng (Panax ginseng) and American ginseng (Panax quinquefolius). Ginseng has been employed to improve overall health, fight stress and disease, and strengthen the immune system. Moreover, ginseng has been experiencing significant growth in demand due to increasing consumer awareness of its health-beneficial properties and the popularity of plant-based nutrition and herbal medicines globally. This shift in consumer preference is reflected in the rising popularity of functional foods and nutraceuticals that include ginseng as an ingredient. However, high costs associated with value-added ginseng products and potential side effects such as insomnia, rapid heartbeat, and blood pressure fluctuations with high doses of ginseng products significantly impede the adoption of ginseng products. In addition, ongoing research and development activities have led to the development of novel ginseng products that cater to specific consumer needs. Companies invest heavily in R&D to create innovative formulations tailored toward different demographic groups and therapeutic applications, further contributing to market development.

The United States is the major consumer of ginseng, with a robust market for both domestic and imported varieties. American ginseng, renowned for its quality, is primarily grown in Wisconsin. The US market shows a growing trend towards natural and herbal supplements, driving increased consumer demand for ginseng in wellness products. Canada, particularly Ontario, is another critical region for the ginseng market, focusing on the cultivation of American ginseng for export to Asia. The European market for ginseng is driven primarily by the growing consumer interest in natural and alternative remedies. Germany, France, and the UK have seen a substantial increase in the demand for dietary supplements, including ginseng products. Regulatory frameworks in the European Union supporting herbal medicines have also positively impacted the market. However, the region relies heavily on imports, particularly from Asian countries, to meet consumer demand. The Middle East shows burgeoning interest in ginseng as part of a broader trend towards natural and herbal supplements. With its diverse markets, Africa is slowly recognizing ginseng's potential within its herbal medicine sector. The demand is nascent but growing, tied closely to global trends and the increasing availability of ginseng products through e-commerce platforms. China's play is pivotal in the ginseng market as the major producer and consumer of ginseng. The country's long-standing tradition of using ginseng in Traditional Chinese Medicine (TCM) drives constant demand. Japan's ginseng market thrives on consumer preference for health supplements and functional foods. India presents an emerging market for ginseng, fueled by increasing awareness and interest in herbal and traditional remedies.

Market Segmentation & Coverage:

This research report categorizes the Ginseng Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Origin Type, market is studied across American Ginseng, Oriental Ginseng, and Siberian Ginseng. The Siberian Ginseng is projected to witness significant market share during forecast period.

Based on Nature, market is studied across Cultivated and Wild. The Wild is projected to witness significant market share during forecast period.

Based on Source, market is studied across Fresh and Processed. The Processed is further studied across Dried and Extract. The Processed is projected to witness significant market share during forecast period.

Based on Colour, market is studied across Red and White. The Red is projected to witness significant market share during forecast period.

Based on Form, market is studied across Extract, Powder, and Raw. The Extract is projected to witness significant market share during forecast period.

Based on End-Use, market is studied across Dietary Supplements & Functional Food, Food & Beverage Processing, Medicinal Application, and Personal Care Products. The Food & Beverage Processing is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 41.57% in 2023, followed by Americas.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Ginseng Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Ginseng Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Ginseng Market, highlighting leading vendors and their innovative profiles. These include Asieco, Botalys S.A., Chuckling Goat Ltd., Cobiosa, Euromed S.A., Herbadiet by Arkure Health Care, Hybrid Herbs, Ilhwa Co. Ltd., International Flavors & Fragrances Inc., Korea Ginseng Corporation, Na'vi Organics, Nature's Answer by Bio Answer Holdings Inc., NOW Foods, Nutrics, Nuts About Life Pty Ltd., Oils and Herbs UK, Premium Raws, Rainey Ginseng Farms Ltd., RFI Ingredients, Inc., Sydney Essential Oil Company by ABP, and NPOW.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Ginseng Market, by Origin Type
7. Ginseng Market, by Nature
8. Ginseng Market, by Source
9. Ginseng Market, by Colour
10. Ginseng Market, by Form
11. Ginseng Market, by End-Use
12. Americas Ginseng Market
13. Asia-Pacific Ginseng Market
14. Europe, Middle East & Africa Ginseng Market
15. Competitive Landscape
16. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Ginseng Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Ginseng Market?
3. What is the competitive strategic window for opportunities in the Ginseng Market?
4. What are the technology trends and regulatory frameworks in the Ginseng Market?
5. What is the market share of the leading vendors in the Ginseng Market?
6. What modes and strategic moves are considered suitable for entering the Ginseng Market?

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