Global Ginseng Extract Market Size & Industry Report 2032

  • The global ginseng extract market size reached USD 8.8 Billion in 2023.
  • The market is expected to reach USD 15.3 Billion by 2032, exhibiting a growth rate (CAGR) of 6.1% during 2024-2032.
  • Asia Pacific leads the market, accounting for the largest ginseng extract market share.
  • Powder accounts for the majority of the market share in the form segment due to its extended shelf life and simple usage. 
  • Pharmaceuticals represents the leading application segment, owing to the increasing focus on natural remedies.
  • The heightened awareness about the health benefits of the product is a primary driver of the ginseng extract market.
  • The increasing product utilization in the food and beverage (F&B) and personal care sectors is reshaping the ginseng extract market.

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Industry Trends and Drivers:

  • Growing Awareness of Product Health Benefits:

The surge in demand for ginseng extract, owing to its reputation for promoting overall wellness and potential health benefits, is one of the major factors bolstering the market growth. Moreover, the increasing knowledge among consumers about the advantages of natural supplements, boosting the use of ginseng extract as a source of energy, enhanced mental focus, and immune support is factoring the market growth.

Additionally, the natural compounds in ginseng, such as ginsenosides, are believed to provide antioxidant and anti-inflammatory properties. Apart from this, the heightened product demand of the growing geriatric population who seek to incorporate preventive health measures into their daily lives is enhancing the global ginseng extract market size.

  • Rise in Demand for Functional Foods and Beverages (F&B):

The rising integration of ginseng extract into functional foods and beverages is creating a positive outlook for the market. These products cater to the rising consumer preference for nutrition-packed and on-the-go dietary options that also offer added health benefits.

Besides this, the increasing inclusion of ginseng extract in a wide variety of consumables such as energy drinks, teas, and health supplements aimed at improving cognitive function and physical stamina is acting as a growth-inducing factor. Apart from this, the rising busy lifestyles of consumers as they look for products that can support health while saving time is boosting the ginseng extract market share.

  • Expanding Applications in the Cosmetic Industry:

The widespread application of ginseng extract in the cosmetic and skincare industry due to its reputed anti-aging and revitalizing properties is anticipated to drive the market growth. Furthermore, the increasing product popularity, as it improves skin elasticity, reduces the appearance of wrinkles, and boosts skin hydration, is contributing to the market growth.

Along with this, the ongoing shift towards natural and sustainable ingredients, propelling the use of ginseng in product development, is fueling the market growth. In addition to this, the ginseng extract market trends indicate that the growing demand for cleaner beauty products that are free from harsh chemicals and enriched with natural ingredients is providing a considerable boost to the market growth.

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Ginseng Extract Market Report Segmentation:

Breakup By Form:

  • Powder
  • Liquid

Powder account for the majority of shares as it is versatile and can be easily incorporated into various products.

Breakup By Application:

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

Pharmaceuticals exhibits a clear dominance as they leverage the well-documented health benefits of ginseng, such as boosting immunity and cognitive function, to create targeted treatments.

Breakup By Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

Asia Pacific holds the leading position owing to a large market for ginseng extract driven by its long-standing tradition of using ginseng for its health benefits and established supply chains.

Top Ginseng Extract Market Leaders: The ginseng extract market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies.

Some of the key players in the market are:

  • Baoji Herbest Bio-Tech
  • Changsha Huir Biological-Tech
  • Clariant AG
  • Hangzhou Skyherb
  • KGEC
  • Koei Kogyo
  • Naturalin Bio-Resources Co. Ltd.
  • Nino Biotech
  • Orkla Health
  • RFI ingredient
  • Shanti Natural
  • Sinochem Pharmaceutical

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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