The global Asian ginseng market is expected to grow at a significant CAGR during the forecast period (2024-2031). Ginseng is a term that refers to a group of eleven tiny, slow-growing plants with fleshy roots. Furthermore, bioactive substances such as salicylic acid, phenolic acids maltol, p-coumaric acid, and vanillic acid have been found in significant concentrations in ginseng roots. The Ginseng market is being propelled forward by consumer acceptance of Asian and oriental flavours, as well as demand for Chinese herbal treatments. There are a variety of herbs in this group, however, American ginseng and Asian ginseng are the most common. Although American ginseng is well-known for its calming properties, Asian ginseng is also well-known for its energizing properties.
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During the forecast period, the market is expected to rise owing to an increase in consumer acceptance of Asian and oriental flavours as well as demand for Chinese herbal medication. Ginseng extract is made from the ginseng plant, which is said to be adaptogenic. An adaptogen is a type of extract that resists biological, physical, and chemical stress while also increasing overall vitality. Furthermore, ginseng roots are known to contain high levels of bioactive chemicals such as salicylic acid, phenolic acids maltol, p-coumaric acid, and vanillic acid. Ginseng is a valued and major folk medicine in Asian nations such as Korea, Japan, and China, and is made up of the roots of Panax quinquefolius and Panax ginseng. Ginseng roots are well-known for their high concentrations of phenolic compounds, ginsenosides, and saponins, as well as other components including carotenoids and carbohydrates.
Furthermore, as customers’ socioeconomic position changes, they are becoming more concerned about their health. Consumption of plant-derived goods with significantly fewer negative effects has gained enormous popularity in recent years. It also covers a wide range of functional foods and dietary supplements that can provide health advantages beyond those provided by standard nutrients. This, in turn, is also expected to offer enormous opportunities for Asian ginseng.
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Market Coverage
- Segment Covered
- Regions Covered- Globally
Competitive Landscape: Korean Ginseng Corp., and Dadong Ginseng Korea Co. Ltd., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Asian Ginseng Market Report Segmentation
By Form
- Powder
- Liquid
By Application
- Cosmetics & Personal Care
- Pharmaceuticals
- Food & Beverages
- Dietary Supplements
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