Ginseng Extracts - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Ginseng Extracts Market is accounted for $16.93 million in 2018 and is expected to reach $38.33 million by 2027 growing at a CAGR of 9.5% during the forecast period. Growing demand for organic supplements, and increasing applications in pharmaceuticals are the major factors propelling the market growth. However, factors such as high cost of ginseng products, and possible side-effects associated with the consumption of ginseng are hampering the market growth.
Ginseng extracts are derived from an adaptogenic plant named ginseng. This extract is referred as adaptogen which implies that its resists chemical, biological & physical stress and boosts general vitality. The ginseng root is considered as most valuable owing to the presence of chemical component called ginsenosides. The major beneficial attributes posed by this chemical component has increased its utilization in applications including personal care & cosmetics, food, dietary supplement and pharmaceuticals. Ginseng extract is classified as white ginseng, fresh ginseng and red ginseng depending upon processing procedures.
Based on the application, the dietary supplement is going to have a lucrative growth during the forecast period due to the rise in consumption of ginseng as a dietary supplement as well as an energy booster and is significantly being used by the geriatric population across the globe to enhance the energy metabolism.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period owing to the rise in awareness among people regarding the benefits of ginseng extract and growth in investments by the manufacturers to promote ginseng products. The red ginseng-based products were showcased in Singapore, focusing to take on the duty-free and travel retail market in the Asia-Pacific region.
Some of the key players profiled in the Ginseng Extracts Market include Allcura Naturheilmittel GmbH, Boots, Elemis, Erborian, Ginsana, Molinari, Nature Essential, Orkla Health, Ortis, Oxford Vitality, Pharmaton, and Vitastore.
Distribution Channels Covered:
• Beauty Store
• Direct Selling
• Online Retailing
• Dietary Supplements
• Oral Care
• Personal Care
End Users Covered:
• Cosmetic and Skin Care
• Food and Feed Additives
• Pharma and Healthcare
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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