Ginseng

Global Ginseng Market to Reach US$17.9 Billion by 2030

The global market for Ginseng estimated at US$10.0 Billion in the year 2024, is expected to reach US$17.9 Billion by 2030, growing at a CAGR of 10.2% over the analysis period 2024-2030. Asian Ginseng, one of the segments analyzed in the report, is expected to record a 10.0% CAGR and reach US$11.2 Billion by the end of the analysis period. Growth in the American Ginseng segment is estimated at 10.7% CAGR over the analysis period.

The U.S. Market is Estimated at US$505.6 Million While China is Forecast to Grow at 12.0% CAGR

The Ginseng market in the U.S. is estimated at US$505.6 Million in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.3 Billion by the year 2030 trailing a CAGR of 12.0% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 7.3% and 8.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.3% CAGR.

Global Ginseng  Market - Key Trends & Drivers Summarized

Ginseng, a perennial plant belonging to the genus Panax, is widely recognized for its medicinal properties and has been utilized in traditional medicine for centuries. Native to North America and Eastern Asia, particularly Korea and China, ginseng is renowned for its roots, which contain active compounds called ginsenosides. These compounds are credited with various health benefits, including boosting energy levels, reducing stress, enhancing cognitive function, and supporting immune health. Ginseng is typically classified into two main types: Asian ginseng (Panax ginseng) and American ginseng (Panax quinquefolius), each offering distinct therapeutic properties. While Asian ginseng is known for its stimulating effects, American ginseng is prized for its calming and cooling properties.

In recent years, the ginseng market has expanded significantly, driven by rising consumer interest in natural and holistic health remedies. The dietary supplement industry has embraced ginseng, incorporating it into various products such as capsules, powders, teas, and energy drinks. Additionally, the beauty and personal care industry has tapped into ginseng`s antioxidant and anti-aging properties, leading to its inclusion in skincare products like creams, serums, and masks. The increasing awareness of ginseng`s health benefits is also reflected in the food and beverage sector, where ginseng-infused products are gaining popularity. The global appeal of ginseng is evident, with substantial export activities from major ginseng-producing countries like South Korea, China, and the United States to various international markets.

The growth in the ginseng market is driven by several factors, including advancements in cultivation and extraction technologies, which have improved the yield and quality of ginseng products. Innovations in biotechnology and agricultural practices have enabled more efficient and sustainable ginseng farming, addressing issues like pest control and soil health. Additionally, the rising demand for functional foods and beverages, spurred by health-conscious consumers seeking natural alternatives, has significantly contributed to market expansion. The increasing prevalence of chronic diseases and the aging population have also played a crucial role, as more individuals turn to ginseng for its potential therapeutic benefits. Furthermore, effective marketing strategies and collaborations between ginseng producers and pharmaceutical companies have enhanced product visibility and credibility, fostering consumer trust and driving sales. The integration of ginseng into mainstream healthcare and wellness practices continues to bolster its market presence, ensuring steady growth and development in the years to come.

SCOPE OF STUDY:

The report analyzes the Ginseng market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Product (Asian Ginseng, American Ginseng); End-Use (Supplements, Personal Care, Other End-Uses)

Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

Select Competitors (Total 123 Featured) -

• Amorepacific Corporation
• Frederic M France, S.A.
• G & G Century (M) Sdn Bhd
• Ethical Naturals, Inc.
• Canada Royal Enoch Phytomedicine Limited
• Captek Softgel International Inc.
• GOH JOO HlN Pte. Limited
• Blooms The Chemist Management Services Limited
• Cellchem Pharmaceuticals Inc.
• ATC Healthcare International Corporation
• Euro Enterprise
• Bob Ginseng
• Enzo Bevande
• Fine Korea Company Limited
• Cardinal Hk Company Limited

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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