Ginseng Market to Grow by USD 195.03 Million (2024-2028), Rising Awareness of Health Benefits Boosts the Market, Report on AI-Powered Market Evolution - Technavio

NEW YORK, Feb. 6, 2025 /PRNewswire/ -- Report on how AI is driving market transformation - The global ginseng market size is estimated to grow by USD 195.03 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.05%  during the forecast period. Rising awareness of health benefits of ginseng is driving market growth, with a trend towards increased demand for organic ginseng products. However, high susceptibility of ginseng plants to pests and diseases  poses a challenge. Key market players include AOS Products Pvt. Ltd., Auragin LLC, Bio Botanica Inc., Botalys SA, Herbal Creations, KAVYA PHARMA, Korea Ginseng Corp., MotherTree Nutra Pvt. Ltd., Natures Way Brands LLC, Nestle SA, Uniray Life Sciences, Velnex Medicare, Zoic Pharmaceuticals Pvt. Ltd., Bob Ginseng LLC, Canada Royal Enoch Phytomedicine Ltd., Ethical Naturals Inc., FREDERIC M, and G and G Century M Sdn Bhd.

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Market Driver

The ginseng market is thriving due to increasing consumer health awareness and the belief in ginseng's health benefits. Key areas of growth include stress relief, immune system support, and natural remedies for conditions like diabetes, anxiety, and erectile dysfunction. The industry is driven by trends in the health and wellness sector, with food manufacturers incorporating ginseng into functional foods and beverages. Ginseng's adaptogenic properties make it a popular choice for vitality and longevity, with traditional Asian medicine and natural supplements leading the market. Korea is a significant player, with high-quality Korean ginseng in demand for its immune-boosting properties and cognitive benefits. The ginseng extract industry is also growing, focusing on digestive health and sustainable cultivation practices. The United States and Asia Pacific markets are major consumers, with the US market showing a preference for wild ginseng and the Asia Pacific market favoring cultivated ginseng. Government support, product innovation, and quality control are essential for ensuring the industry's sustainability and addressing concerns over overharvesting and low yields. Consumers seek natural and herbal solutions, with veganism and dietary supplements driving sales. The ginseng market is expected to remain healthy and high, offering opportunities for innovation and growth. 

The global ginseng market is witnessing a significant growth in demand for organic ginseng products. Consumers are increasingly seeking natural and health-conscious options, leading to a preference for organic ginseng. This product is cultivated without synthetic pesticides, herbicides, or chemical fertilizers. The shift towards organic ginseng reflects a desire for sustainable and eco-friendly farming practices. Consumers are becoming more conscious of the origin and production methods of the products they consume, driving the demand for organic ginseng. Organic ginseng offers health benefits and peace of mind, knowing that it is free from harmful chemicals. This trend is expected to continue as consumers prioritize their health and the environment. 

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 Market Challenges

• The ginseng market is thriving due to growing consumer health awareness and the increasing demand for natural remedies. Key health benefits associated with ginseng include stress relief, immune system support, and vitality. Ginseng is also known for its adaptogenic properties, which help the body cope with anxiety and fatigue. In the health and wellness industry, ginseng is used to boost cognitive functions and improve digestive health. The ginseng industry is seeing product innovation with the creation of high-quality ginseng extracts for pharmaceutical products and dietary supplements. Food manufacturers are also incorporating ginseng into functional foods for overall wellbeing. The challenges for the ginseng market include ensuring sustainability and quality control, as wild ginseng is often overharvested, leading to low yields and inconsistent potency. Government support and source traceability are crucial to maintaining the industry's reputation for high-quality, natural and herbal ginseng. In the United States and Asia Pacific, ginseng sales are on the rise, with Korean ginseng being a popular choice due to its traditional use in Asian medicine for longevity and vitality. The ginseng market is expected to continue growing as consumers seek natural alternatives for managing stress, diabetes, and other health concerns.
• Ginseng market faces significant challenges due to pest infestations and diseases that negatively impact ginseng cultivation. The root-knot nematode (Meloidogyne spp.) is a common pest, infesting ginseng roots, causing damage, and reducing yields. Fungal diseases, such as Alternaria blight (caused by Alternaria panax) and root rot (often caused by various Phytophthora species), also pose threats. Alternaria blight manifests as dark lesions on leaves, impacting photosynthesis and overall plant health. These issues can lead to lower-quality ginseng roots, affecting market demand and prices. Producers must employ effective pest management strategies to mitigate these risks and ensure a healthy ginseng crop.

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Segment Overview 

This ginseng market report extensively covers market segmentation by  

• Distribution Channel
• RS And CS
• Online
• Application
• Dietary Supplements
• Pharmaceutical Products
• Functional Food And Beverage Processing
• Geography
• APAC
• North America
• Europe
• South America
• Middle East And Africa

1.1 RS and CS-  In the global ginseng market, supermarkets and convenience stores significantly influence product distribution. Supermarkets, such as Walmart Inc., Tesco PLC, and Carrefour S.A., offer a wide range of ginseng supplements, teas, and other products, providing consumers with a one-stop shopping experience. Convenience stores, including 7-Eleven, Circle K, and Wawa, offer easy access to ginseng-infused beverages and other products for consumers with busy lifestyles. Both retail channels contribute to the market's growth by making ginseng products readily available in various retail environments as consumer demand for health and wellness products continues to increase.

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Research Analysis

The ginseng market is experiencing significant growth due to increasing consumer health awareness and the desire for natural remedies. Ginseng, a popular herb in traditional Asian medicine, is known for its adaptogenic properties, which help the body cope with stress. It is also believed to have immune-boosting properties, making it a popular choice for supporting overall health and wellbeing. Ginseng is used to treat various health conditions, including anxiety, erectile dysfunction, and diabetes. The ginseng industry is thriving, with sales of ginseng extracts and natural supplements on the rise. Food manufacturers are also incorporating ginseng into functional foods and beverages for its healthy and high cognitive benefits. The United States and Korea are major players in the ginseng market, with the extract industry seeing particular growth. Ginseng is known for its vitality and longevity benefits and is a natural supplement that can support the immune system and digestive health.

Market Research Overview

The Ginseng market is experiencing significant growth due to increasing consumer health awareness and the recognition of ginseng's numerous health benefits. This natural supplement, known for its adaptogenic properties, is used to combat stress, improve vitality, and boost the immune system. Ginseng is also known to help with erectile dysfunction, diabetes, anxiety, and cognitive benefits. The industry is thriving in both traditional Asian medicine markets, particularly in Korea, and in the Western world, with the United States being a major consumer. The ginseng market includes food manufacturers incorporating ginseng into functional foods and high-quality dietary supplements. The extract industry is also a significant player, providing immune system support and digestive health benefits. The industry is innovating with vegan ginseng options and sustainable cultivation practices. However, concerns around overharvesting and quality control persist, with the need for government support and regulations to ensure high-quality, consistent ginseng products. Ginseng is prized for its adaptogenic properties, which help the body cope with stress and promote overall wellbeing. It is also known for its immune-boosting properties, making it a popular natural remedy for fighting colds and flu. The ginseng market is expected to continue growing, with potential for expansion into new markets and product categories. Ginseng is a natural herbal supplement that has been used for centuries for its health benefits. It is known to have adaptogenic properties, which help the body cope with stress and promote overall vitality and longevity. Ginseng is also believed to have immune-boosting properties, making it a popular natural remedy for fighting colds and flu. The ginseng industry is thriving, with sales increasing due to consumer health awareness and the recognition of ginseng's numerous health benefits. The market includes food manufacturers incorporating ginseng into functional foods, high-quality dietary supplements, and the extract industry providing immune system support and digestive health benefits. The market for ginseng is diverse, with demand coming from both traditional Asian medicine markets and the Western world. Korea is a major player in the market, with the United States being another significant consumer. The industry is innovating with vegan ginseng options and sustainable cultivation practices. However, there are concerns around the sustainability of the ginseng industry, with the need for government support and regulations to ensure high-quality, consistent ginseng products. Overharvesting and quality control are also major issues, with the need for transparency and traceability to ensure that consumers are getting the best possible product. Despite these challenges, the ginseng market is expected to continue growing, with potential for expansion into new markets and product categories. The industry is also exploring new uses for ginseng, such as in pharmaceutical products and cosmetics, making it an exciting and dynamic market to watch. Ginseng is a natural supplement that comes in various shapes, sizes, and consistencies. It is grown in different regions, with Korea being a major producer. The cultivated segment of the ginseng market is growing, with efforts being made to ensure sustainability and high yields. The ginseng industry is also exploring new technologies to improve the potency and consistency of ginseng products. This includes the use of ginseng extracts and standardization of ginseng grades. These innovations are helping to make ginseng more accessible and affordable to consumers, making it a popular choice for those seeking natural and herbal health solutions. In conclusion, the ginseng market is a dynamic and growing industry, driven by consumer health awareness and the recognition of ginseng's numerous health benefits. The market includes food manufacturers, dietary supplements, extract industry, and pharmaceutical products. The industry is facing challenges around sustainability, overharvesting, and quality control, but is also innovating with new technologies and product categories to meet consumer demand. With its adaptogenic and immune-boosting properties, ginseng is expected to continue being a popular choice for those seeking natural and herbal health solutions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Distribution Channel
• RS And CS
• Online
• Application
• Dietary Supplements
• Pharmaceutical Products
• Functional Food And Beverage Processing
• Geography
• APAC
• North America
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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