The global ginseng extracts market is set to witness rise at a CAGR of 7.7% and top a valuation of US$ 565.6 Million in the time period of 2032. Ginseng being an herbal supplement, is used to make functional foods with the extract of its plant root containing active elements called ginsenosides.
The product thus naturally has anti-inflammatory and antioxidants qualities, which helps in improving brain function, strengthening immune system of the body, improving erectile dysfunction, and fighting lethargy.
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Key Takeaways from Market Study
- The ginseng extracts market is worth of US$ 269.4 Mn sales in 2022.
- The ginseng extracts market is expected to expand at CAGRs of 7.7% through 2032.
- Global ginseng extracts demand is projected to grow year-on-year (Y-o-Y) growth of 7.3% in 2022.
- The ginseng extracts market is growing with a notable boost towards the production to reach USD 565.6 Mn by 2032.
- Innovative applications, research formulations, and medicinal properties are the factors driving growth of Ginseng Extracts market to be the influencing factors among consumers, which is driving sales of ginseng extracts across global markets.
- Demand for ginseng extracts grew at 6.4% CAGR between 2017 and 2021.
- Korea Ginseng Corp., Clariant, Korean Ginseng Export Corporation, RFI Ingredients, Inc, and Ilhwa Co., Ltd. are expected to be the top players in the industry.
- Siberian ginseng type with capsule form segment of ginseng extracts are in heavy demand from beverage industry carrying a notable market share.
Further, the product can be used to treat different types of cancer, as well as the treatment of swine flu, anemia, diabetes, gastritis, asthma, and fever. Whereas Panax ginseng extracts is a great deal for the intestinal tract, but the efficacy and quality may vary as per the bioavailability, and the form in which the product is consumed, because when consumed orally, ginsenosides are hard to break down with liver enzymes or gastric juices alone.
However, when the product reaches in the intestine, it is fermented into metabolites inside the colon with the help of gut microflora which are more bioavailable, thus improving energy levels and balancing the metabolism process of the body. As a result, improving digestive system due to the medicinal properties of the product is driving the ginseng extracts market forward as a supplement to the food and beverage industry.
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“Ginseng extract induces the functional properties in food products, such as anti-oxidative, anti-obesity, anti-stress, anti-inflammatory, anti-viral, and even anti-cancer properties, which is likely to drive consumption of the product as an additive in the food and beverage industry with growing demand for functional foods, where key industry players are continuously seeking natural ingredients for healthy foods segments, which is likely to provide new market avenues for ginseng extracts,” says a Future Market Insights analyst.
Competitive Landscape
Key ginseng extracts brands are looking for new strategic partnerships to develop the applications in food and beverage industry, as well as cosmetics and personal care industry, while core business brands are focusing on supplying nutritional and high quality solutions to customers consuming ginseng extracts with several product innovations.
- On 22nd January 2019, supplier of rare plant extracts, Botalys announced to launch Panax ginseng powder as the most bioactive ingredient in the market, termed as HRG80. Ginseng extracts, used as stress reducing agent, considered to be the king of adaptogens by the company. New product launches under the scheme is featuring various innovative forms including nutritional bars, chocolates, soft chews, chewing gums, gummy bears, burgers, juices, coffee, ready-to-drink (RTD) beverages, tea, and granola.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global Ginseng Extracts market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on product type (American ginseng, oriental ginseng, Siberian ginseng, Asian ginseng, and others), form (powder, liquid, tablet, capsule, gel, and others), and application (food & beverages, nutraceuticals & dietary supplements, pharmaceutical, cosmetics & personal care, and others), across seven major regions of the world.
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