Market Forecast:

Global Ginseng Extract Market size was valued at US$ 31.36 Million in 2023 and is poised to grow from US$ 33.43 Million in 2024 to US$ 55.74 Million by 2032, growing at a CAGR of 6.6% in the forecast period (2024-2032).

Global ginseng extract market includes the manufacturing process, distribution, and consumption of extracts from the ginseng plant, principally Panax ginseng and Panax quinquefolius. Ginseng is a perennial plant famous for its medicinal value; it has been associated for a long with energy boosters, brain enhancers, and promoters of general good health. Growing demand from consumers for natural health supplements and traditional medicines is one of the major factors that drive the ginseng extract market.

This herb is available in various forms: powder, capsules, and liquid extracts. These extracts are used to provide supplements, pharmaceuticals, cosmetics, food and beverage products. The associated health benefits with ginseng—antioxidant, anti-inflammatory, and adaptogenic properties, among others—have seen its demand increase among health-conscious individuals and those seeking complementary medicine.

Some of the key drivers for this market are the increasing demand for natural supplements, aging populations looking out for wellness products, and the growth in the health and wellness industry. On the other hand, high production costs, stringent regulations and laws regarding herbal supplements, and intense competition from other herbal products are some of the restraints to the market. New product development, an electronic method of sale, and untapped markets will bring many opportunities for the growth of this market.

The ginseng extract market globally is developing in line with increasing demand for health and wellness products. Evolving extraction technology, changing regulations, and shifting consumer preference towards health solutions from nature will define the future of the market.

Market Dynamics: Market Drivers

Growing Preference for Natural Supplements

• Consumers fast resort to natural and herbal supplements because of the associated health benefits and lesser chances of side effects compared to synthetic products. Ginseng extract fits very well here, as it is an adaptogenic substance with associated health benefits like energy boosting, cognitive enhancement, and immunity. Increasingly, awareness of the possible side effects due to chemical-based dietary supplements is rapidly channelizing towards plant-based derivatives. This has been further triggered by the easy availability of voluminous information on natural products, which is easily accessible through electronic media, thus making consumers more aware.

Aging Population Seeking Wellness Products

• The world's aging population aspires to health and vigor, hence drives the demand for wellness products in which ginseng extracts are an ingredient. As people get older, they tend to become prone to severe health-related issues associated with low energy, mental decay, and a weakened immune system. It becomes popular among the elderly for its supposedly enhancing physical and mental health properties to live and enjoy an active life. This demographic shift of an increasing elderly population is hence projected to become a prime driver for the ginseng extract market in most parts of the world, particularly the developed countries.

Market Trends

Rising Popularity of Organic and Natural Products

• There is a great trend towards organic and natural products across sectors, including that of health supplements. The people are becoming more conscious about their health and thus concerned about the ingredients' quality and origin in their supplements. This is where the organic ginseng extract market benefits from such trends by meeting demands for high-quality, pesticide-free, and non-GMO products. Moreover, the products will be certified organic, which will increase credibility of the brand and gaining trust from the consumers.

Increasing Integration of Ginseng Extracts in Functional Foods and Beverages

• Functional foods and beverages provide benefits beyond nutrition, and that is why they are in high demand. Ginseng extracts can be formulated in energy drinks, tea, snacks, and dietary supplements, for example, because of their rise in demand from consumers looking to add health-enhancing ingredients into their diets easily. Hence, one of the major strengths of ginseng extract becomes its versatility and ability to blend well with a number of food and beverage formulations for manufacturers who seek to capitalize on the current trend in functional foods.

Market Restraining Factors

High Production Costs

• Most of the cultivation and extraction of ginseng are expensive, thus threatening the growth of this particular industry. Growing ginseng requires very unique growing conditions; the plants also take several years before they are mature enough to be harvested. There is, therefore, a lot of time and investment involved. Secondly, the extraction in itself is an expensive process, especially where it involves high quality and strong extracts. These costs are usually transferred to consumers, making ginseng extract products more expensive and their price inaccessible to the mass market.

Stringent Regulations Regarding Herbal Supplements

• Most of the cultivation and extraction of ginseng are expensive, thus threatening the growth of this particular industry. Growing ginseng requires very unique growing conditions; the plants also take several years before they are mature enough to be harvested. There is, therefore, a lot of time and investment involved. Secondly, the extraction in itself is an expensive process, especially where it involves high quality and strong extracts. These costs are usually transferred to consumers, making ginseng extract products more expensive and their price inaccessible to the mass market.

Segmentation Analysis

The market scope is segmented because of by Form, by Application.

By Form

• Powder
• Liquid

The reason the powder segment dominates the ginseng extract market is majorly due to its versatility, longer shelf life, and ease of incorporation into a number of products. Powdered ginseng extract has been highly preferred since it can be easily mixed into dietary supplements, functional foods, beverages, and cosmetics. Indeed, in its stable form, it allows for an extended shelf life compared to liquid extracts, which are more prone to degradation with time. The powder form allows for control over the dosage, an aspect that is of concern to both the manufacturer and the consumer in the light of some specific health benefits. Convenience in transport and storage is another reason for the popularity of powdered ginseng, as it reduces the risks and challenges, hence costs, associated with logistical support. Moreover, with the rising health trend of supplementing herbal products in one's daily regime, powdered preparations for ready mixing into smoothies, teas, and other daily consumables, in demand, have been. All these collectively contribute to the leading position of the powder segment in the ginseng extract market.

By Application

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

Among the application segments of the ginseng extract market, Dietary Supplements dominated the market. This domination is attributed to an increasing consumer preference for natural health products and growing awareness about the benefits associated with ginseng. Ginseng extract is majorly used for enhancing overall health, boosting energy, and improving cognitive functioning through dietary supplements. The popularity of this segment is triggered by increasing health consciousness, shifting people towards preventive healthcare, and growing tendencies of self-medication with natural products. Moreover, dietary supplements provide an easier and more accessible way for consumers to incorporate the health benefits of ginseng into their daily lives. This leadership is boosted by the largest dietary supplement segment among other applications like cosmetics and personal care, pharmaceuticals, and food and beverages. The same trend is witnessed in the robust growth of the dietary supplements segment in reflection of the larger consumer trend toward natural and holistic wellness solutions.

Regional Snapshots

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, UK, Italy, Spain, Russia, Rest of Europe)
• Asia-Pacific (China, India, Japan, ASEAN, Rest of Asia-Pacific)
• Latin America (Brazil, Mexico, Rest of Latin America)
• MEA (Saudi Arabia, South Africa, UAE, Rest Of MEA)

It provides information about the markets in North America, Europe, Asia-Pacific, Latin America, and MEA. Among these, Asia-Pacific has led the ginseng extract market. Such dominance is almost entirely attributed to the historical and cultural association of ginseng in the region, more so in countries like South Korea, China, and Japan, where ginseng holds at the very center of traditional medicine. This is majorly influenced by the fact that most of these nations already have a high level of consumer awareness and a ready market for ginseng-based products. Besides, it is expected to maintain its lead in the global ginseng market, propelled by a highly suitable climate for its cultivation and extensive farming practices. This region has typically held a robust medicine market and holds a blooming trend in natural health products, which has helped in cementing the dominant market share.

North America is projected to grow the most in the future, driven by enhancing consumer awareness about natural health benefits and growing demand for dietary supplements, along with favoring organic and natural products in the United States and Canada. Besides this, the advanced healthcare infrastructure in North America and high disposable income support the uptake of premium and health-boosting products like ginseng extract. The availability of ginseng products through various distribution channels is also fueling the growth of the e-commerce market. With the rising concern for health among North American consumers and their easy acceptance of supplements in their routine, regional growth in the ginseng extract market is likely to be steep.

List of Companies Profiled

• Shanti Natural
• RFI ingredient
• Orkla Health
• KGEC
• Herbal Bioactives
• Hangzhou Skyherb
• Nino Biotech
• Sinochem Pharmaceutical
• Liuyang Naturalin Bio
• Clariant
• Changsha Huir Biological-Tech
• Baoji Herbest Bio-Tech
• Koei Kogyo

Key Industry Developments

In February 2023, the American Botanical Council (ABC) released a new report on the health benefits of ginseng. The report, which is based on a review of scientific literature, found that ginseng has a number of potential health benefits, including reducing fatigue, improving cognitive function, and boosting the immune system.

In January 2023, the FDA approved a new ginseng-based dietary supplement for the treatment of erectile dysfunction. The supplement, called GinsengRx, is made by the company Leading Edge Health.

Report Coverage

The report will cover the qualitative and quantitative data on the global Ginseng Extract Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

Report Scope and Segmentations

Global Ginseng Extract Regional Analysis

North America accounted for the highest Asia Pacific Methyl Glucose% market share in terms of revenue in the Ginseng Extract and is expected to expand at a CAGR of Asia Pacific Methyl Glucose% during the forecast period. This growth can be attributed to the growing adoption of Asia Pacific Methyl Glucose. The market in APAC is expected to witness significant growth and is expected to register a CAGR of Asia Pacific Methyl Glucose% over upcoming years, because of the presence of key Asia Pacific Methyl Glucose companies in economies such as Japan and China.

The objective of the report is to present comprehensive analysis of Global Ginseng Extract including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

Ginseng Extract Report is also available for below Regions and Country Please Ask for that

North America

• U.S.
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Questions

• How much the global Ginseng Extract valued?
• Which region has the largest share in 2024 for the global Ginseng Extract?
• What are the driving factors for the market?
• Which is the leading segment in the global market?
• What are the major players in the market?

Research Scope of Ginseng Extract

• Historic year: 2019- 2022
• Base year: 2023
• Forecast: 2024 to 2032
• Representation of Market revenue in USD Million

Ginseng Extract Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: