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Ginseng - Global Market Trajectory & Analytics

  • ID: 5029877
  • Report
  • May 2021
  • Region: Global
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Amway Corporation
  • Bounce Foods Ltd.
  • Ethical Naturals, Inc.
  • Ilhwa Co., Ltd.
  • Korea Ginseng Corporation
  • RFI Ingredients
  • MORE

Global Ginseng Market to Reach US$12.6 Billion by the Year 2027


Amid the COVID-19 crisis, the global market for Ginseng estimated at US$6.1 Billion in the year 2020, is projected to reach a revised size of US$12.6 Billion by 2027, growing at a CAGR of 11% over the period 2020-2027.Asian Ginseng, one of the segments analyzed in the report, is projected to grow at a 10.7% CAGR to reach US$7.9 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the American Ginseng segment is readjusted to a revised 11.5% CAGR for the next 7-year period. This segment currently accounts for a 35.9% share of the global Ginseng market.



The U.S. Accounts for Over 5.5% of Global Market Size in 2020, While China is Forecast to Grow at a 13.1% CAGR for the Period of 2020-2027


The Ginseng market in the U.S. is estimated at US$333.2 Million in the year 2020. The country currently accounts for a 5.47% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$4.3 Billion in the year 2027 trailing a CAGR of 13.1% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.9% and 9.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 9% CAGR while Rest of European market (as defined in the study) will reach US$4.3 Billion by the year 2027.

Select Competitors (Total 123 Featured) -

  • Amway Corporation
  • Baylis and Harding plc
  • Bounce Foods Ltd.
  • Elemis Ltd.
  • Ethical Naturals, Inc.
  • Glanbia Nutritionals, Inc.
  • Great Mountain Ginseng Co., Ltd.
  • Hain Celestial Group
  • Ilhwa Co., Ltd.
  • Jilin Zixin Pharmaceutical Industrial Co., Ltd.
  • Kefiplant, Inc.
  • Korea Ginseng Corporation
  • Now Foods
  • Nutra Green Biotechnology Co., Ltd.
  • RFI Ingredients
  • Starwest botanicals
  • The Boots Company PLC
  • Victoria Health
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Amway Corporation
  • Bounce Foods Ltd.
  • Ethical Naturals, Inc.
  • Ilhwa Co., Ltd.
  • Korea Ginseng Corporation
  • RFI Ingredients
  • MORE
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Impact of COVID-19 Pandemic and Looming Recession
  • 2020 Marked as a Year of Disruption & Transformation
  • EXHIBIT 1: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • COVID-19 Pandemic Leads to Increased Consumer Focus on Health and Wellness Products
  • Pandemic Increases Consumer Demand for Healthier Ingredients in Foods and Beverages
  • COVID-19 Brings Forth Enormous Opportunities for Adaptogens
  • Potential Role of Ginseng in Influenza and COVID-19 Management
  • An Introduction to Ginseng
  • Processing and Types of Ginseng
  • Wild Ginseng and Cultivated Ginseng
  • Major Benefits of Ginseng
  • Functions and Use of Ginseng
  • Global Market Prospects & Outlook
  • Asian Ginseng Leads the Global Market
  • Supplements Emerge as Major End-Use Market for Ginseng
  • Asian Economies at the Forefront of Market Growth
  • Ginseng Production Worldwide: Overview
  • EXHIBIT 2: Global Ginseng Production (in Thousand Tons) by Country
  • Competition
  • World Brands
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • Consumer Focus on Health and Wellness to Boost Popularity of Adaptogens, Favoring Demand for Ginseng
  • EXHIBIT 3: Global Adaptogens Market by Source (in %) for 2020
  • Trends Towards Plant-Based Products Amidst Rising Health Awareness Fuels Market Prospects
  • Rising Prominence of Ginseng as Functional Food Ingredient to Boost Market Growth
  • EXHIBIT 4: Rising Sales of Functional Foods and Drinks to Boost Ginseng Demand: Global Functional Foods & Beverages Sales in US$ Billion for 2020 and 2027
  • Rising Health Consciousness Enhances Role of Ginseng in Natural Dietary Supplements
  • EXHIBIT 5: Global Dietary Supplements Market Size (in US$ Billion) for the Years 2019, 2022 and 2025
  • Ginseng Supplements for Energy Boost
  • Potential Role of Ginseng in Weight Management Products
  • EXHIBIT 6: Obesity Prevalence Rate (%) in Select Countries for the Years 2019 and 2030P
  • EXHIBIT 7: Average Per Capita Annual Health Expenditure (In US$) due to Obesity
  • Potential Benefits of Ginseng in Treatment of Chronic Diseases Boosts Usage
  • Proven Health Benefits of Ginseng
  • Rising Prevalence of Lifestyle & Chronic Diseases Widens Prospects
  • EXHIBIT 8: Hypertension Prevalence (%) Worldwide by Region in Male and Females Aged 25+ Years
  • EXHIBIT 9: World Diabetes and Population Statistics (2019, 2030 & 2045)
  • EXHIBIT 10: Fatalities by Heart Conditions: Estimated Percentage Breakdown for Cardiovascular Disease, Ischemic Heart Disease, Stroke, and Others
  • Ginseng: A Traditional Ingredient in Various Medicinal Preparations
  • Ginseng Dietary Supplement Finds Interest as Immune-Modulator Aging Human Diseases
  • Ginseng's Promising Role in Neurological Disorders
  • KIST Develops a Novel Microwave-based Method for Red Ginseng Processing, for Treatment of Lung Cancer
  • Rising Consumer Awareness about Benefits of Ginseng Consumption Fuels Use in Food Products
  • Growing Demand for Ginseng in Cosmetics and Personal Care Sectors
  • Increased Spending on Natural and Organic Personal Care & Cosmetic Products Propels Market Growth
  • EXHIBIT 11: Global Natural Cosmetics Market: Sales in US$ Billion for the Years 2019, 2021, 2023 and 2025
  • Anti-Aging Benefits of Ginseng Propels Growth in the Cosmetics Industry
  • EXHIBIT 12: Expanding Anti-Aging Products Market Bodes Well for Ginseng: Global Anti-Aging Cosmetics Market for the Years 2017, 2019, 2021, 2023 and 2025
  • Growing Preference for Natural Products Boosts Demand for American Ginseng
  • Different Methods to Grow American Ginseng
  • Growing Wild-simulated American Ginseng
  • American Ginseng Production Suffers Due to Overharvesting
  • Trade Wars and Pandemic Impacts American Ginseng Farmers
  • Ginseng Extract Market: Poised for High Growth
  • Concerns Over Side Effects Impede Wider Uptake
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

UNITED STATES
  • Myriad Health and Wellness Benefits Drive Herbal Supplements Market
  • Overharvesting Presents a Challenge for American Ginseng
  • Market Analytics
CANADA

JAPAN

CHINA
  • China Continues to Witness Demand Rise for Ginseng-based Products
  • Market Analytics
EUROPE

FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC

AUSTRALIA

INDIA

SOUTH KOREA
  • Demand for Korean Red Ginseng Continues to Grow
  • EXHIBIT 13: % of Koreans Purchasing Health Functional Foods for 2012-2020
  • EXHIBIT 14: Health Functional Product Sales by Type (in %) in South Korea: 2020
  • Market Analytics
REST OF ASIA-PACIFIC

LATIN AMERICA

BRAZIL

MEXICO

REST OF LATIN AMERICA

MIDDLE EAST

AFRICA

IV. COMPETITION
  • Total Companies Profiled: 123

Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Amway Corporation
  • Baylis and Harding plc
  • Bounce Foods Ltd.
  • Elemis Ltd.
  • Ethical Naturals, Inc.
  • Glanbia Nutritionals, Inc.
  • Great Mountain Ginseng Co., Ltd.
  • Hain Celestial Group
  • Ilhwa Co., Ltd.
  • Jilin Zixin Pharmaceutical Industrial Co., Ltd.
  • Kefiplant, Inc.
  • Korea Ginseng Corporation
  • Now Foods
  • Nutra Green Biotechnology Co., Ltd.
  • RFI Ingredients
  • Starwest botanicals
  • The Boots Company PLC
  • Victoria Health
Note: Product cover images may vary from those shown
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