Published Date : 20 Aug 19 | Views: 23 | Industry : Chemical & Materials
Analysts at QYR Consulting have done a detailed study on the global Ginseng market and segmented the market into various segments such as by variety, by form, and by the application. Ginseng is available in the three forms including liquid, powder, and raw. By variety, the global Ginseng market is segmented into American ginseng, Oriental ginseng, Siberian ginseng, and Others.
Among all, the Oriental ginseng segment is expected to obtain a significant market share during the forecasted period. Chinese regulations underpin the usage of Ginseng in a variety of food products and this could be one of the important reasons for strengthening the growth of Oriental ginseng across the globe. By application, dietary supplements, personal care products, food and beverage processing, and pharmaceutical products are the segments of the market. Dietary supplements are foretold to hold a remarkable market share of the worldwide ginseng market due to the factors like rising geriatric population and preventive healthcare awareness.
Geographically, China is the global leader in the Ginseng consumption because of which Asia Pacific market for Ginseng is expected to witness remarkable growth during the projected period. Additionally, China is the major importer of Ginseng from Canada, which is one of the top Ginseng producers across the world. Apart from China, South Korea is also supplementing the market growth due to its wide applications in the food and beverage and Personal care industries. Ginseng is used as herbal medicine which is anticipated to benefit the market growth in the Asia Pacific region.
Major Key players functioning in the market are Ilhwa Co. Ltd., Daedong Korea Ginseng Co., Ltd., Korean Ginseng Export Corporation, Starwest Botanicals, Korea Ginseng Corp., Organika Health Products Inc., Ningbo Gianon Biotech Co., Ltd., Shanghai FanPharma Co., Ltd., Koshiro Co. Ltd., Sino-Nature International Co., Ltd. and RFI Ingredients, Inc. It has been witnessed that major market participants are forecasted to take over small and medium scale companies to strengthen their position in the global market.
Ginseng has several healthcare applications including improving immunity, regulating blood sugar levels, decreasing the risk of some cancers and infections from viruses and microbes, developing brain and memory functions are predicted to increase demand for Ginseng in the global Ginseng market. Ginseng contains minerals, antioxidants, and vitamins because of this it is extensively used in the skincare industry. Apart from this, the growing demand for organic and clean-labeled products is expected to generate sales opportunities in the global Ginseng market.