Organic Ginseng Market Size, Share, Growth, and Industry Analysis, By Type (Korean Ginseng, American Ginseng, Brazilian Ginseng, Siberian Ginseng, Indian Ginseng, and China Ginseng), By Application (Pharma & Healthcare and Cosmetic & Skin Care) and Regional Insights and Forecast to 2032

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ORGANIC GINSENG MARKET REPORT OVERVIEW

The global organic ginseng market size was USD 0.42 billion in 2023 and will touch USD 0.68 billion by 2032, exhibiting a CAGR of 5.8% during the forecast period.

Ginseng is a slow-growth and small plant with fleshy roots. It exists in eleven different varieties. Organic ginseng is admired for health benefits and natural properties. It is usually represented as the king of all herbs. The medicinal herb is obtained from a forked-shaped and light-colored root. They are found to be an efficient agent to improve general well-being.  The extracts are utilized to recover and restore good health in the human body with energy improving effects. It is supportive in lowering cholesterol and maintains blood sugar levels. This item nurtures relaxation, lessen stress, and manages diabetes. This medical herb is obtained from a forked-shaped and light-colored root.

Increasing demand for natural products and the intensifying application in a variety of industries are propelling the market growth. Spreading awareness about the health advantages of ginseng is opening great avenues to enlarge the market presence.

COVID-19 IMPACT

Market Growth Fluctuated by Pandemic due to Increased Demand for Natural and Herbal Supplement

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

During the pandemic, there was increased worry about health and wellness. It has amplified demand for natural and herbal supplements. The mental health and stress-related disorders increased in the pandemic which has further amplified the need for the product. This is due to its perceived benefits in managing stress and anxiety. However, the supply chain interruption and limitations on transportation systems have hampered the market growth. These factors have led to shortage of the availability and pricing of raw resources and final products disturbing both productions and distribution which hindered the market growth.

LATEST TRENDS

Rising Demand for Organic and Sustainably Enhancing Market Advancement

Current trend in the market that is fueling the market advancement is the growing demand for organic and sustainably resources of ginseng products. Citizens are becoming more awakened about the originality and superiority of their dietary supplements which is shifting inclination for natural and organic products. This rising demand encouraged companies to pay attention to sustainable cultivation practices and obtain organic certification to fulfill the growing demand by the end-user.

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ORGANIC GINSENG MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Korean ginseng, American ginseng, Brazilian ginseng, Siberian ginseng, Indian ginseng, and China ginseng.

• Korean Ginseng: This type of market product is identified for its stimulating effects and cognitive benefits.

• American Ginseng: It is valued for its calming properties and immunity improving benefits.

• Brazilian Ginseng: It is used to enhance stamina and lessen fatigue and this item is named as Suma.

• Siberian Ginseng: It is accepted for their adaptogenic property that assists the body to manage with stress and is called Eleuthero.

• Indian Ginseng: In India it is known as Ashwagandha and is famous for its potential to reduce anxiety and improve cognitive function.

• China Ginseng: This is popular for its capability in boosting energy and sustaining overall wellness and is called a Panax Ginseng.

By Application

Based on application the global market can be categorized into pharma & healthcare and cosmetic & skin care.

• Pharma & Healthcare: The pharma and healthcare sector uses the product for production of various pharmaceutical drugs because it possesses medical properties.

• Cosmetic & Skin Care: The product helps in improving ingredients in improving the overall health and appearance of the skin due to its natural properties make it a popular ingredient in the cosmetic and skin market.

DRIVING FACTORS

Rising Awareness of Health Benefits of Ginseng Propelling Market Growth

The key attribute for the global organic ginseng market growth is the rising consciousness of the health benefits of ginseng is propelling the market expansion. Increasing consumer knowledge is a major factor in the global market because individuals are becoming more aware of the health benefits associated with this ancient root. Since customers are actively in quest of natural remedies and holistic approaches to health and wellness. This has gained footing as a key ingredient in various wellness products. The adaptogenic nature of this aligns with modern hectic lifestyles where people are increasingly seeking solutions to manage high levels of stress and maintain optimal health are encouraging market growth.

Rising Adoption of E-commerce Fueling Market Progress

Another growing factor for the increasing growth of the market is the growing adoption of e-commerce which has facilitated access to this product. It allows clients to make informed choices based on their health and wellness goals. The broadening variety of ginseng-infused products including teas, supplements, and energy drinks has allowed end-users to select products that align with their choice and lifestyle. Furthermore, the restoration of belief in traditional remedies has optimistically increased the use of ginseng extract in various applications including pharmaceutical and dietary supplements. These factors are enhancing demand for the product and propelling the market progress.

RESTRAINING FACTORS

Supply and Sustainability Concerns Impeding Market Growth

The key limitation for the market expansion is the increasing concerns for supply and sustainability is impeding the market growth. The farming of ginseng is time-consuming and the plant requires specific growing conditions. This limits the availability of high-quality products leading to concern about sustainability and potential overharvesting. Additionally, ensuring consistent quality and standardization of ginseng extract products is a challenge due to variations in ginsenoside content which is affecting their therapeutic effects and consequently discouraging the market growth.

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ORGANIC GINSENG MARKET REGIONAL INSIGHTS

Asia Pacific Region Dominating the Market due to High Concentration of Diving Enthusiasts

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

Asia Pacific has emerged as the most dominant region in the global organic ginseng market share due to the swift integration of ginseng extract into food product manufacturing, witnessing unparalleled growth compared to other regions. This surge can be attributed to shifting consumer preferences. Favoring natural food items due to concerns over adverse effects linked to artificial additives. Such preferences have acted as a significant factor propelling the market expansion across the region. In North America, a surge in demand is anticipated determined by the widespread adoption of ginseng extract as an adaptogen. Well-known for its character in nutritional and herbal supplements, ginseng extract has maintained a significant presence in the region for centuries. Escalating health consciousness and increased purchasing power among consumers are heightened demand for dietary supplements which is encouraging the market growth.

KEY INDUSTRY PLAYERS

Key Industry Players Shaping the Market through Incorporation of New Features and Market Strategies

Many prominent industry players are operating in this market focused on continuously improving their products and using digital platforms and e-commerce have also opened avenues for direct-to-consumer sales to be in the market. However, there are many companies in the market that use some techniques such as merger, acquisitions, partnership and using new advanced technologies for producing and developing new products and stay ahead in the market.

List of Top Organic Ginseng Companies

• Guangdong NAHE Phytochem Technology CO (China)
• Korea Ginseng Corporation (South Korea)
• A.Vogel (U.K.)
• Raw Living Limited (U.K.)
• KGEC (South Korea)
• HiYoU (Canada)
• Prices incl. VAT

INDUSTRIAL DEVELOPMENT

March 2023: Korean Ginseng Corporation has established a new research and development facility in America. The purpose of this facility establishment is to increase its market share .

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.