Increasing Health Awareness Spurs Growth Worldwide
Increasing health awareness among consumers is a major factor transforming the food industry. Consumers not only prefer healthier food, but are more willing than ever before to pay for a non-GMO food product that contains no artificial additives. With a majority of companies in the food market looking for ingredients that incorporate better nutrients in their products, the demand for ginseng is expected to scale higher.
It is therefore safe to say that the ongoing trend is spurred by the rising inclination towards fitness and wellness. This has also driven the use of ginseng as a key ingredient in several dietary supplements. As these supplements qualify as organic and non-GMO products, their demand in the market is likely to remain high. Furthermore, the report foresees impressive growth for this category of products in the coming years, giving impetus to the ginseng market. Therefore in the forthcoming years, the market is likely to witness higher demand for oriental, American, Siberian and other varieties of Ginseng
Demand for Ginseng to Remain High In China
Ginseng has been used in traditional Chinese medicines since time immemorial. However, it was not until recently that it found popularity in contemporary food and medicines. Increasing awareness among consumers as a result of rising access to information has made people realize the benefits of ginseng. Over the last couple of years it is increasingly used foods and medicines. The production of ginseng has therefore picked pace in South Korea, Canada and the U.S.
These nations are also the leading exporters of ginseng, while China remains the top consumer. Besides this, the demand for ginseng is considerably high in South Korea. The rising use of ginseng in preparation of beverages, personal care, and medical products has spurred its demand worldwide. In the coming years, the demand for ginseng is likely to grow at an impressive rate in North America and Asia Pacific excluding China.
Rising Demand for Plant-based Food Spurs Ginseng Sales
In the coming years, the market is expected to show higher growth in response to the increasing demand for plant-based products. Using plant based products has become a trend since these products reduce the risk of disease often transmitted through meat products. Also, better safety and health benefits offered by plant-based products have positively impacted the demand for ginseng at a global scale.
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
How Growth will Unfold
The use of ginseng is steadily increasing in the personal care industry. As more information on the benefits of ginseng is discovered, companies are becoming keener on introducing ginseng extracts in the personal care and beauty products they manufacture. For instance, in the last couple of years, the use of ginseng as a key ingredient in serums, moisturizers, essences, cleansers, and other skincare products has remarkably increased.
In addition to this, it has antioxidant properties that offer anti-aging solutions, besides offering cure for skin damage. Spurred by this, the personal care and cosmetics industry is expected to emerge as a key user of ginseng. Besides this, the use of ginseng has exponentially risen in the food and beverages sector in response to the rising demand for products with better nutritive elements and health benefits.
FREQUENTLY ASKED QUESTIONS ABOUT GINSENG MARKET
What are different varieties of ginseng?
In terms of variety, the ginseng market covers oriental ginseng, Siberian ginseng, American ginseng and others.
What are the health benefits of ginseng?
Ginseng has anti-oxidant and anti-inflammatory properties that help in improving the overall immunity system of humans. Furthermore, Koran ginseng helps in improving cognitive functions of brain and heart health. The rising knowledge of health benefits offered by ginseng will fuel its demand worldwide.
Which country is the leading consumer of ginseng?
China is the leading consumer of ginseng. Besides China, the ginseng market witnesses lucrative opportunities in the U.S., Canada and South Korea.
What drives ginseng market?
Rising health awareness among consumers and transforming food industry are the key drivers of the ginseng market. In the coming years, it is expected to witness increasing application in food, pharmaceutical, and personal care industries. Spurred by this, the market is expected to record impressive growth.
What risk factors are involved in ginseng market?
The cost of cultivation of ginseng is very high. Furthermore, it is harvested once in every 4 years leaving no scope for return on investment for four to five years. This could adversely impact the overall market.
GINSENG MARKET TAXONOMY
The report segments the global ginseng market in detail to present an executive-level blueprint to the reader
- Oriental Ginseng
- American Ginseng
- Siberian Ginseng
- Personal Care Products
- Dietary Supplements
- Food and Beverage Processing
- Pharmaceutical Products
- North America
- Latin America
- Asia Pacific Excluding China