Ginseng Market to grow by USD 195.03 Million (2024-2028), driven by rising awareness of ginseng's health benefits, AI-powered market evolution - Technavio

NEW YORK, Jan. 29, 2025 /PRNewswire/ -- Report on how AI is driving market transformation - The global ginseng market size is estimated to grow by USD 195.03 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.05%  during the forecast period. Rising awareness of health benefits of ginseng is driving market growth, with a trend towards increased demand for organic ginseng products. However, high susceptibility of ginseng plants to pests and diseases  poses a challenge. Key market players include AOS Products Pvt. Ltd., Auragin LLC, Bio Botanica Inc., Botalys SA, Herbal Creations, KAVYA PHARMA, Korea Ginseng Corp., MotherTree Nutra Pvt. Ltd., Natures Way Brands LLC, Nestle SA, Uniray Life Sciences, Velnex Medicare, Zoic Pharmaceuticals Pvt. Ltd., Bob Ginseng LLC, Canada Royal Enoch Phytomedicine Ltd., Ethical Naturals Inc., FREDERIC M, and G and G Century M Sdn Bhd.

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Market Driver

The ginseng market is thriving due to increasing consumer health awareness and the recognition of ginseng's health benefits. Key areas of growth include stress relief, immune system support, and sexual health. Ginseng's adaptogenic properties make it a popular natural remedy for anxiety and fatigue. The industry is seeing innovation in areas like cognitive benefits, digestive health, and veganism. Traditional Asian medicine, particularly from Korea, continues to influence the market. High-quality ginseng, whether cultivated or wild, is in demand for its vitality and longevity benefits. The ginseng extract industry is growing, with sales to food manufacturers and the production of pharmaceutical products. Sustainability is crucial, with concerns over overharvesting and potential low yields and inconsistency in shape, size, and potency. Government support and quality control measures are essential for the industry's continued growth. 

The global ginseng market is witnessing a significant growth in the demand for organic ginseng products. Consumers are increasingly seeking natural and health-conscious options, driving the trend towards organic ginseng. This product is grown without synthetic pesticides, herbicides, or chemical fertilizers, making it a preferred choice for those conscious of potential health and environmental risks. The shift towards organic ginseng reflects a desire for sustainable and eco-friendly cultivation practices. Consumers are becoming more discerning about the origin and production methods of their products, leading to increased demand for organic ginseng. 

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• The ginseng market is thriving due to growing consumer interest in natural health solutions for various health concerns. Key challenges include meeting demand for proven health benefits, such as stress relief, immune system support, and cognitive function. Market segments include traditional Asian medicine, dietary supplements, and pharmaceutical products. The industry is driven by ginseng's adaptogenic properties, which promote overall wellbeing and vitality. Food manufacturers are innovating with functional foods and beverages, increasing ginseng sales. In the US and Asia Pacific, ginseng's popularity as a natural remedy for conditions like diabetes, anxiety, and erectile dysfunction continues to grow. The ginseng industry faces challenges in ensuring high-quality, sustainable sourcing and maintaining consistency in yields, potency, shape, and size. Government support and quality control measures are crucial to addressing these challenges and ensuring the industry's long-term success. The ginseng extract industry is also growing, with a focus on cognitive benefits and digestive health. Vegetarian and vegan consumers are driving demand for natural and herbal supplements. Wild ginseng and cultivated segments coexist, with wild ginseng facing overharvesting concerns and cultivated ginseng offering more consistent yields and lower costs. The ginseng market's future lies in product innovation, consumer health awareness, and ensuring the industry's sustainability.
  
  
• The global ginseng market faces substantial challenges due to pest infestations and diseases that negatively impact ginseng cultivation. The root-knot nematode (Meloidogyne spp.) is a primary pest, infesting ginseng roots and causing damage, leading to reduced yields and lower-quality roots. Fungal diseases, such as Alternaria blight (caused by Alternaria panax) and root rot (often caused by various Phytophthora species), are also prevalent. Alternaria blight manifests as dark lesions on the leaves, affecting photosynthesis and overall plant health. These issues pose significant challenges to the ginseng market, potentially impacting the quality and quantity of the harvested roots.

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This ginseng market report extensively covers market segmentation by  

1. Distribution Channel
• 1.1 RS and CS
• 1.2 Online
2. Application 
• 2.1 Dietary supplements
• 2.2 Pharmaceutical products
• 2.3 Functional food and beverage processing
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 South America
• 3.5 Middle East and Africa

1.1 RS and CS-  In the global ginseng market, supermarkets and convenience stores significantly impact the distribution of ginseng products to consumers. Supermarkets, such as Walmart Inc., Tesco PLC, and Carrefour S.A., provide a wide selection of ginseng supplements, teas, and other items under one roof. Convenience stores, including 7-Eleven, Circle K, and Wawa, offer easy access to ginseng-infused beverages and products for consumers with busy schedules. Both retail channels contribute to the market's growth by making ginseng products readily available in various retail environments, catering to the increasing consumer demand for health and wellness items.

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Research Analysis

The ginseng market is experiencing significant growth due to increasing consumer health awareness and the desire for natural remedies. Ginseng, a traditional Asian medicine, is known for its adaptogenic properties, which help the body cope with stress, anxiety, and fatigue. It is also believed to have immune-boosting properties, making it a popular supplement for overall wellbeing and vitality. The ginseng industry includes the production of ginseng extracts, which are used in various food and beverage products, as well as in the manufacture of natural supplements. The United States and Korea are major players in the ginseng market, with the US market focusing on functional foods and natural and herbal health and wellness products. Ginseng is also used to support digestive health, cognitive benefits, and immune system function, making it a valuable ingredient in the health food industry. The ginseng market is expected to continue growing as more consumers turn to natural supplements for healthy and high living.

Market Research Overview

The ginseng market is experiencing significant growth due to increasing consumer health awareness and the recognition of ginseng's numerous health benefits. This natural supplement, known for its adaptogenic properties, is used to combat stress, improve vitality, and boost the immune system. Ginseng is also known to help with erectile dysfunction, anxiety, diabetes, and cognitive benefits. The industry is thriving in both traditional Asian medicine markets, such as Korea, and in the Western world, particularly in the United States. Ginseng's immune-boosting properties make it a popular choice for those seeking overall wellbeing. Food manufacturers are incorporating ginseng into functional foods, while the natural supplement and herbal remedies market continues to innovate with new product offerings. The ginseng industry is also seeing growth in the dietary supplements and pharmaceutical product sectors. The ginseng market caters to various segments, including cultivated and wild ginseng. Sustainability and quality control are crucial factors in the industry, with concerns over overharvesting and low yields leading to efforts to improve potency, shape, size, and consistency. The ginseng extract industry is also gaining traction, offering high-quality, natural, and vegan ginseng options for consumers. Government support and product innovation are driving the ginseng market forward, making it more accessible and affordable for consumers. With its potential to improve digestive health, cognitive function, and longevity, ginseng continues to be a popular choice for those seeking natural remedies for a healthy and high-quality lifestyle.

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Distribution Channel
• RS And CS
• Online
• Application
• Dietary Supplements
• Pharmaceutical Products
• Functional Food And Beverage Processing
• Geography
• APAC
• North America
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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SOURCE Technavio