Global Asian Ginseng Market, had a strong performance in 2020, and this trend is expected to continue with a steady revenue compound annual growth rate (CAGR) in the forecast period. The market growth is driven by the two active compounds found in ginseng, which offer medicinal properties such as improved immunity, lower blood sugar levels in diabetic patients, boosted energy levels, better brain functioning, reduced inflammation and lethargy. Additionally, ginseng is known for its ability to fight cancer and elevate metabolism, which is expected to further drive its demand globally.

Ginseng is classified into two types based on the regions in which it is cultivated: American Ginseng (organic classification: Panax Quiquefolius) and Asian Ginseng (organic classification: Panax Ginseng). Asian Ginseng is further divided into Korean and Chinese Ginseng. The major producers of ginseng are China, Korea, US and Canada, and the concentration of active compounds in Asian ginseng varies based on the climatic conditions. Mainly, Asian ginseng has a refreshing effect while American ginseng has a soothing effect. China is the oldest traditional consumer of ginseng, and Koreans also use ginseng widely in their food in the form of powder.

Ginseng is a slow-growing root-based plant with medicinal properties, and its root is used to make medicinal products. Due to its medicinal properties such as anti-oxidants and anti-inflammatory, it is widely adopted in various applications such as food and beverage, pharmaceuticals, and others. The rising awareness of its health benefits, increasing consumer spending, presence of established manufacturers, and rising investments in research and development activities are other factors contributing to market growth over the forecast period. As such, the Asian ginseng market is poised to continue to grow in the coming years.

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Market Overview:

Several factors drive the global consumer goods market's revenue growth, including the rapid increase of the global population, the increasing demand for food and other essential goods, including healthcare and nutrition, personal care and hygiene, and electronic products, changes in consumer lifestyles and preferences, increases in the demand for packaged and processed food and beverage products, and an increasing population of working people. Among the factors driving revenue growth for the global consumer goods market are technological advances in product manufacturing and packaging techniques, as well as the rapid adoption of innovative technologies such as artificial intelligence, the Internet of Things, big data analytics, and robotics and automation. Other key factors driving global consumer goods market revenue growth include increasing awareness that plastic packaging has adverse environmental effects and a growing need for environmentally friendly and sustainable packaging solutions. A growing income level of consumers worldwide, particularly in developing economies such as India, and stringent government regulations and guidelines for product safety and quality are factors that are set to boost market revenue growth further.

Key Players covered in this report are

• Korea Ginseng Corp
• DADONG Ginseng KOREA CO. LTD.
• CheongKwanJang
• Sinochem Pharmaceutical
• Hangzhou Skyherb
• Changsha Huir Biological-Tech
• Baoji Herbest Bio-Tech
• Liuyang Naturalin Bio
• Nino Biotech
• Koei Kogyo
• Ningbo Gianon Biotech Co. Ltd.
• ILHWA CO.LTD.
• Cheong Kwan Jang.
• KOSHIRO COMPANY LIMITED

By Product State Outlook (Revenue, USD Billion; 2018-2028)

• Powder
• Liquid

By End-Use Outlook (Revenue, USD Billion; 2018-2028)

• Pharmaceuticals
• Dietary Supplements
• Foods and Beverages
• Cosmetics

Key Regional Markets Covered in the Report:

• North America (U.S., Canada, Mexico)
• Europe (U.K., Italy, Germany, Spain, France, BENELUX, Rest of Europe)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of Asia Pacific)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Major Points covered in this report are as below:

• The Asian Ginseng industry development trends and marketing channels are analyzed. The feasibility of new investment projects are assessed and overall research conclusions offered.

• With the tables and figures, the report provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.

• Development policies and plans, manufacturing processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand figures, cost, price, revenue and gross margins.

• The Asian Ginseng Market report provides key statistics on the market status of the Asian Ginseng manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.

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