Global Ginseng Business Report 2023: Market to Reach $17.7 Billion by 2030 - A Traditional Ingredient in Various Medicinal Preparations and Health and Wellness

DUBLIN, Nov. 20, 2023 /PRNewswire/ -- The "Ginseng - Global Strategic Business Report" report has been added to  ResearchAndMarkets.com's offering.

Global Ginseng Market to Reach $17.7 Billion by 2030

The global market for Ginseng estimated at US$8 Billion in the year 2022, is projected to reach a revised size of US$17.7 Billion by 2030, growing at a CAGR of 10.4% over the analysis period 2022-2030.

The analysis delves into specific ginseng types such as Asian Ginseng and American Ginseng, as well as various end-uses, including supplements, personal care, and other applications. These insights aid in understanding market dynamics, growth prospects, and industry trends in the ginseng market. 

Asian Ginseng, one of the segments analyzed in the report, is projected to record 10.1% CAGR and reach US$11 Billion by the end of the analysis period. Growth in the American Ginseng segment is estimated at 10.8% CAGR for the next 8-year period.

The U.S. Market is Estimated at $423.9 Million, While China is Forecast to Grow at 12.2% CAGR

The Ginseng market in the U.S. is estimated at US$423.9 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$6.3 Billion by the year 2030 trailing a CAGR of 12.2% over the analysis period 2022 to 2030.

It provides independent assessments of annual sales figures in US$ Thousand for the years 2022 through 2030, along with corresponding percentage Compound Annual Growth Rates (CAGRs). Additionally, it includes historical data, spanning the years 2014 to 2021, and presents a 16-year perspective with a breakdown of value sales percentages for select years (2014, 2023, and 2030). 

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.5% and 8.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 8.4% CAGR.

What`s New?

• Special discussions on the global economic climate and market sentiment
• Coverage on global competitiveness and key competitor percentage market shares
• Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and trademarked research platform
• Complimentary updates for one year
• Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

MARKET OVERVIEW

• Ginseng - Global Key Competitors Percentage Market Share in 2022 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
• COVID-19 Pandemic Leads to Increased Consumer Focus on Health and Wellness Products
• Pandemic Increases Consumer Demand for Healthier Ingredients in Foods and Beverages
• COVID-19 Brings Forth Enormous Opportunities for Adaptogens
• Potential Role of Ginseng in Influenza and COVID-19 Management
• An Introduction to Ginseng
• Processing and Types of Ginseng
• Wild Ginseng and Cultivated Ginseng
• Major Benefits of Ginseng
• Functions and Use of Ginseng
• Global Market Prospects & Outlook
• Asian Ginseng Leads the Global Market
• Supplements Emerge as Major End-Use Market for Ginseng
• Asian Economies at the Forefront of Market Growth
• Ginseng Production Worldwide: Overview
• Global Ginseng Production (in Thousand Tons) by Country
• Competition
• World Brands
• Recent Market Activity

MARKET TRENDS & DRIVERS

• Consumer Focus on Health and Wellness to Boost Popularity of Adaptogens, Favoring Demand for Ginseng
• Global Adaptogens Market by Source (in %) for 2020
• Trends Towards Plant-Based Products Amidst Rising Health Awareness Fuels Market Prospects
• Rising Prominence of Ginseng as Functional Food Ingredient to Boost Market Growth
• Rising Sales of Functional Foods and Drinks to Boost Ginseng Demand: Global Functional Foods & Beverages Sales in US$ Billion for 2020 and 2027
• Rising Health Consciousness Enhances Role of Ginseng in Natural Dietary Supplements
• Global Dietary Supplements Market Size (in US$ Billion) for the Years 2019, 2022 and 2025
• Ginseng Supplements for Energy Boost
• Potential Role of Ginseng in Weight Management Products
• Obesity Prevalence Rate (%) in Select Countries for the Years 2019 and 2030P
• Average Per Capita Annual Health Expenditure (In US$) due to Obesity
• Potential Benefits of Ginseng in Treatment of Chronic Diseases Boosts Usage
• Proven Health Benefits of Ginseng
• Rising Prevalence of Lifestyle & Chronic Diseases Widens Prospects
• Hypertension Prevalence (%) Worldwide by Region in Male and Females Aged 25+ Years
• World Diabetes and Population Statistics (2019, 2030 & 2045)
• Fatalities by Heart Conditions: Estimated Percentage Breakdown for Cardiovascular Disease, Ischemic Heart Disease, Stroke, and Others
• Ginseng: A Traditional Ingredient in Various Medicinal Preparations
• Ginseng Dietary Supplement Finds Interest as Immune-Modulator Aging Human Diseases
• Ginseng's Promising Role in Neurological Disorders
• KIST Develops a Novel Microwave-based Method for Red Ginseng Processing, for Treatment of Lung Cancer
• Rising Consumer Awareness about Benefits of Ginseng Consumption Fuels Use in Food Products
• Growing Demand for Ginseng in Cosmetics and Personal Care Sectors
• Increased Spending on Natural and Organic Personal Care & Cosmetic Products Propels Market Growth
• Anti-Aging Benefits of Ginseng Propels Growth in the Cosmetics Industry
• Expanding Anti-Aging Products Market Bodes Well for Ginseng: Global Anti-Aging Cosmetics Market for the Years 2018, 2020, 2022 and 2024
• Growing Preference for Natural Products Boosts Demand for American Ginseng
• Different Methods to Grow American Ginseng
• Growing Wild-simulated American Ginseng
• American Ginseng Production Suffers Due to Overharvesting
• Trade Wars and Pandemic Impacts American Ginseng Farmers
• Ginseng Extract Market: Poised for High Growth
• Concerns Over Side Effects Impede Wider Uptake

FOCUS ON SELECT PLAYERS (Total 123 Featured)

• Amorepacific Corporation
• Frederic M France, S.A.
• G & G Century (M) Sdn Bhd
• Ethical Naturals, Inc.
• Canada Royal Enoch Phytomedicine Limited
• Captek Softgel International Inc.
• GOH JOO HlN Pte. Limited
• Blooms The Chemist Management Services Limited
• Cellchem Pharmaceuticals Inc.
• ATC Healthcare International Corporation
• Euro Enterprise
• Bob Ginseng
• Enzo Bevande
• Fine Korea Company Limited
• Cardinal Hk Company Limited

For more information about this report visit https://www.researchandmarkets.com/r/h35ath

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected] 
 
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
 
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets