The global ginseng extract market is estimated to grow at a CAGR of nearly 6.5% during the forecast period. Rising demand for herbal ingredients in cosmetics and skin care products is offering an opportunity for the growth of the market. Herbal skin cosmetics are formulated with the use of various herbal active ingredients, which are further integrated into the cosmetic base to cure and nourish multiple skin ailments. These cosmetics are natural and are considered safe to use than chemical-based cosmetics. Herbal-based cosmetic formulations have gained considerable attention as they are free from all the harmful synthetic chemicals which may prove toxic to the skin.
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Herbal compounds that are utilized in multiple cosmetic formulations include ginseng, rosemary, carrot, and gingko. Ginseng root-derived cosmetic ingredients comprise hydrolyzed ginseng root extract, Panax ginseng root extract, Panax ginseng root powder, hydrolyzed ginseng root, Panax ginseng root protoplast, hydrolyzed ginseng saponins, Panax ginseng root, Panax ginseng root water, and more. Ginseng is integrated as an anti-ageing component in facial creams. Ginseng has shown feasibility in defending wrinkles owing to its capacity to support skin-firming collagen. The suppression of UV-induced apoptosis and enhance in the level of type I collagen production leads to the skin aging.
The ginsenoside Rb1 is beneficial to show anti-aging activities and rejuvenate skin. Ginseng also acts as a skin lightening component that provides a more vibrant and younger appearance to the skin. Red ginseng extricate has potential application owing to anti-aging, immuno-stimulatory, and oxidation inhibition properties. South Korea is among the most populous country in the cosmetics segment. South Korean ginseng-based cosmetic products 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.
Further, China is the major producer of ginseng, with output accounting for nearly 70% of the global total (as per the Jilin Provincial People’s Government). Ginseng production areas are primarily distributed in the three northeastern provinces. Among these, Jilin Province accounting for nearly 85% of the total national ginseng production. In 2015, the national ginseng planting area was about 12,000 hectares. Over 300 types of ginseng products developed in China, of which over 160 ginseng health products have been approved by the China FDA. Ginseng health products refer to those ginseng or ginseng extract as the prime raw material and have specific or nourishing health care functions.
These products belong to traditional nourishing health care products and Chinese herbal medicines, which involves ginseng tea, ginseng drinks, ginseng oral liquid, ginseng cola, ginseng wine, and other range of products. In China, the demand for ginseng health products has shown an upward trend. Owing to the constant improvement of people’s health awareness, the adoption of ginseng health products is also rising. Additionally, there is a 300 tons per year ginseng saponin purification construction project of Baishan city. Expansion of ginseng production in China and significant awareness among people regarding the health benefits of herbal products are the major factors offering an opportunity for the Chinese ginseng extract market.
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Global Ginseng Extract Market- Segmentation
By Form
- Powder
- Liquid
- Tablet and Capsule
By Application
- Personal Care and Cosmetics
- Pharmaceuticals
- Food and Beverages
- Dietary Supplements
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