Ginseng Extracts Market Report, By Form (Powder, Liquid, Capsules), Application (Dietary Supplements, Personal Care, Pharmaceuticals, Food, Oral Care) and Geography- Global Market Share, Trend Analysis & Forecast

Ginseng is typically a moderately growing perpetual plant that represents the genus Panax. The plant is also known as Ginnsuu in some regions of China and other parts of Asia. Ginseng is largely found in North America and in the Northern Hemisphere of eastern Asia in areas such as Korea, Bhutan and eastern Siberia. Ginseng roots are usually sold in the dried form as a traditional medicine that is thought to provide various benefits as an aphrodisiac, stimulant and anti-diabetes agent, as well as a treatment for sexual dysfunction in males.

The ginseng root is reflected as most valuable because of the existence of chemical component called ginsenosides. Ginseng may also be added to energy drinks, herbal teas, hair tonics and cosmetic products. Various beneficial qualities posed by this chemical element has improved its utilization in applications including personal care & cosmetics, food, dietary supplement and pharmaceuticals. However, side effects of using ginseng include insomnia, nausea, hypertension, headaches and breast pain. The element has also been known to cause severe reactions when used alongside warfarin, phenelzine and antidepressants.

Market Dynamics- Global Ginseng Extracts Market

It is a well-known fact that natural health supplements not only help limit the disease, but has long term optimistic influence on the body, such as improving the immune system, destroying the virus and bacteria present in the body, assisting in cleaning blood pollutants etc. Moreover, the geriatric populace are more exposed to these diseases and side-effects of medications which also results in improved demands for natural health supplements like ginseng extracts.

Further, the market for ginseng extract is projected to be fueled by mounting cases of chronic diseases such as cancer, diabetes, and cardiovascular disorders. However, growing health concerns and rising awareness about the ill-effects of artificial and synthetic medications are forcing people to move towards herbal medicines thus resulting in the improved demand for ginseng extracts.

Moreover, growing government initiatives to invest heavily in the research & development of organic medicines is anticipated the market to be thriving rapidly over the forecast period.

Impact of COVID-19 on the Industry:

The growth of the ginseng extract market is likely to be hindered by the pandemic COVID-19, which has had a major effect on global imports and exports. Nations like China, Canada, South Korea, and the U.S. are the leading manufacturers of herbal plants, which are traded all over the world for production. This product also plays an important role as an immunity booster for the human body, assisting them fight against the virus and microbes, so the need is anticipated to grow substantially during the period of pandemic. While the short-term impacts are more evident, it is yet to be understood what impacts and what magnitude of impact the outbreak of COVID-19 will have on the supply chain in the long term.

Ginseng Extracts Market Segmental Overview

• The study analyses Global Ginseng Extracts market based on form, application and geography. The major sources of Ginseng Extracts include oilseeds, cereals and plant resins. 
• Ginseng extracts are accessible in powdered, liquid and capsules form. The powder segment of ginseng extract market is driven by advantageous aspects including anti-cancer, antioxidant and anti-inflammatory. 
• The market finds application in dietary supplements, pharmaceuticals, personal care, food and oral care etc. The demand for ginseng extracts from the pharmaceutical industry is anticipated to grow swiftly over the forecast period. Widening market opportunities is attributed to rising unique product launches by pharmaceutical manufacturers for moderating rare diseases together with growing aged population. 
• This is predominantly used to improve concentration, thinking, memory, work efficiency, muscle damage prevention, physical stamina, athletic endurance and Alzheimer’s disease treatment.   

Ginseng Extracts Market by Geography

Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. North America Ginseng Extracts market is likely to dominate the market over the forecast period mainly due to rising demand from the food and beverage industry and pharmaceutical industry. Mounting awareness among population concerning their personal and family health in together with high consumer preference towards processed organic medications will aid the demand growth. Moreover, growing applications in organic investments in has led to a substantial growth in the pharma sector.

However, the Asia Pacific market for Ginseng Extracts is likely to be the fastest growing market led by China, India, Japan, and South Korea ad are likely to contribute significantly during the forecast period. Ease of trading across international borders in the region will positively impact the industry growth through the forecast timeframe. Expansion of dietary supplements and personal care industry is a key factor that will stimulate the regional growth.  

Global Ginseng Extracts Market-Key Players

The major key players included in this market are Korea Ginseng MFG Co. Ltd., S.A. Herbal Bioactives LLP, RFI Ingredients, Herbal Bio Solutions, BI Nutraceuticals, Clariant AG, KGEC, Orkla Health UK, Hangzhou Skyherb Technologies Co., Ltd., Bioveda Naturals and among others.