The global ginseng extracts market is set to witness growth at a CAGR of 7.7% and top a valuation of US$ 565.6 Mn by 2032.
Ginseng is indeed well-known for its herbal properties and is often used to create functional foods and supplements. The extract from the root of ginseng contains active compounds called ginsenosides, which contribute to its various health benefits.
Due to its anti-inflammatory and antioxidant properties, ginseng can help improve brain function, boost the immune system, alleviate erectile dysfunction, and combat fatigue. It is also believed to have potential in treating different types of cancer and supporting the treatment of conditions like swine flu, anemia, diabetes, gastritis, asthma, and fever.
When it comes to the efficacy and quality of Panax ginseng extracts, it is important to consider factors such as bioavailability and the form in which the product is consumed. Ginsenosides are not easily broken down by liver enzymes or gastric juices when taken orally. However, once the product reaches the intestine, it undergoes fermentation by gut microflora, resulting in metabolites that are more easily absorbed by the body. This process improves bioavailability, enhancing energy levels and balancing the body’s metabolism.
The medicinal properties and positive impact on the digestive system are driving the demand for ginseng extracts as a supplement in the food and beverage industry. It offers a natural way to enhance health and well-being through functional foods and beverages.
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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.
“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,” – Nandini Roy Choudhury, Client Partner at Future Market Insights
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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.
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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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