The global ginseng extract market is estimated to grow at a CAGR of nearly 6.5% during the forecast period. The major factors encouraging market growth include health benefits associated with ginseng and emerging application in dietary supplements and cosmetics products. Several potential health benefits are associated with ginseng, which makes it ideal for use in pharmaceutical, food and beverages, and other applications. Ginseng is supposed to restore and improve wellbeing and is one of the most famous herbal remedies. It contains beneficial anti-inflammatory and antioxidant properties, to reduce oxidative damage. As per the study, it was found that Korean red ginseng extract decreased inflammation and enhanced antioxidant activity in skin cells among people suffering from eczema.

In addition, ginseng could support improve brain functions such as mood, memory, and behavior. Thus, it can be beneficial for people with Alzheimer’s and Parkinson’s disease. Ginseng may also support reducing blood sugar, stress, and treat diabetes. It may affect the production of insulin in the pancreas and enhance insulin resistance with the use of other mechanisms. Ginseng can be useful for the treatment of erectile dysfunction in men, as it may improve the production of nitric oxide that increases blood circulation and improves muscle relaxation in the penis. It can reduce oxidative stress in tissue and increase blood flow in penile muscles.

Ginseng may strengthen the immune system in people suffering from cancer and even increase the effects of some vaccinations. It can also support to prevent the risk of certain cancers owing to antioxidant and anti-inflammatory properties. Ginseng could reduce the risk of certain kinds of cancer such as mouth, lip, stomach, lung, colon, and liver cancer. It may also support to improve the health of cancer patients who are undergoing chemotherapy, decrease side effects and increase the effect of some therapy drugs.

Owing to these potent benefits, ginseng has been used as a herbal supplement in Chinese medicine over the decades. In the food and beverage sector, ginseng is gaining significance as a stressbuster and enhance physical and mental activity among people who are weak and tired. However, the manufacturers of supplements are exploring the potential effects of ginseng in CVD health, immunity, and management of blood glucose. Therefore, the possible health benefits associated with ginseng is primarily driving the growth of the market. However, it may have certain side-effects such as headache, digestive problems, decreased heart rate, edema, and blurred vision.

Market Segmentation

The global ginseng extract market is segmented into form and application. Based on the form, the market is classified into powder, liquid, and tablet and capsule. Based on application, the market is classified into personal care and cosmetics, pharmaceuticals, food and beverages, and dietary supplements.

Ginseng Extract Find Significant Application in Pharmaceuticals

Ginseng has been widely used in herbal medicines as a general stimulant and immune system booster. Eleuthero, sometimes known as Siberian ginseng, is being widely used in traditional medicines as a compound, referred to as adaptogen, that enables the body to better handle and adapt to stress. It also acts as a stimulant, enhance the functioning of the nervous system. The ginseng pharmacological effects have been shown in cancer, CVD, diabetes, and relieving stress, brain functioning, and for its antioxidant activities. The root of Panax ginseng C. A. Meyer, which is referred to as Asian or Korean ginseng, is an important and valuable folk medicine in East Asian countries, such as Japan, China, and Korea, for over 2000 years. In western countries, the use of traditional Chinese herbs for dietary and medicinal purposes is becoming significantly popular. As a result, the sales of Panax ginseng are growing in Europe and North America as well as across the globe.

Global Ginseng Extract Market Share by Product, 2019 (%)

Regional Outlook

Geographically, in 2019, Asia-Pacific is estimated to hold a considerable share in the market owing to the significant application of ginseng in Chinese herbal medicine and emerging demand for natural supplements in the region. Further, ginseng is popular in Korean skincare products, from the early 1500s. Some popular ginseng-based cosmetics products in South Korea include Donginbi Red Ginseng Moisture & Balancing Softener, DearPacker Black Ginseng Gold Hydrogel Mask, and Blithe Vital Treatment 5 Energy Roots for hydrating and multi activating. Significant awareness regarding the benefits of ginseng and its increasing application in pharmaceutical and cosmetics products is contributing to the market growth in the region.

Global Ginseng Extract Market Growth, by Region 2020-2026

Market Players Outlook 

Some prominent players in the market include Korea Ginseng Corp. (KGC), Ginseng Up Corp., Amway Corp., Botalys, and General Nutrition Corp. (GNC). Product launches, mergers and acquisitions, and partnerships and collaborations are some crucial strategies adopted by the market players to expand market share and gain a competitive advantage. For instance, in April 2019, CheongKwanJang (KGC), South Korean red ginseng product maker introduced a special edition of Korean Red Ginseng Extract Everytime, that comes in a portable stick-type pouch. The new addition will support the emerging consumers’ focus towards increasing immunity levels and healthy super food. The company revealed a cherry blossom-motivated package edition known as Everytime Blossom, which covers 100 stick-type pouches in two tin containers. The company has been widening its range of red ginseng-based products with the introduction of premium cosmetics brand Donginbi, which is a brand exclusively for women. 

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global ginseng extract market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.