Global Ginseng Market - Key Drivers and Forecasts from Technavio

Technavio has published a new report on the global ginseng market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--Technavio analysts forecast the global ginseng market to grow at a CAGR of more than 12% over the projected period, according to their latest report.

The research study by Technavio on the global ginseng market for 2017-2021 provides a detailed industry analysis based on the product (Asian ginseng and American ginseng), end-use (supplements and personal care), and geography (APAC, the Americas, and EMEA).

 
In the last five years, the ginseng market witnessed several product launches as many Food & Beverages manufacturers globally tried to tap the demand for these nutrient-dense ingredients. Superfoods such as ginseng are not just limited to F&B, but also being used in beauty, health and hygiene, and pet food categories.
 

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Technavio analysts highlight the following three factors that are contributing to the growth of the global ginseng market:

  • Health benefits of ginseng
  • Growing health consciousness and obese population
  • Growing awareness about the benefits of ginseng in personal care

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Health benefits of ginseng

The ginseng root contains a natural plant chemical component called ginsenosides. The ginsenosides are the main active ingredients responsible for the medicinal properties of ginseng. Traditionally, ginseng root is used as an ingredient in the preparation of soup and tea,” says Manjunath Reddy, a lead analyst at Technavio for food research.

Some of the key health benefits provided by ginseng include increasing the energy and stamina, improving both physical and mental health, bringing the body into balance, and tackling premature ejaculation. It also provides assistance for people with diabetes and also provides cardiovascular support. Such benefits are driving the adoption of ginseng among the general consumers.

Growing health consciousness and obese population

In the recent times, a drastic spike has been witnessed in health problems like digestive disorders, diabetes, and obesity. Hence, people have increasingly become health-conscious and want to follow a healthy diet, which is increasing the demand for plant-based proteins and superfoods such as ginseng. Ginseng provides more energy, limits aging, and helps in weight reduction. Additionally, the increasing efforts to lose weight and avoid medical complications will also drive the growth of the global ginseng market during the forecast period.

Growing awareness about the benefits of ginseng in personal care

Significant R&D is done in the cosmetics and personal care segments, to reduce the use of various harmful chemicals. For instance, the usage of ginseng in personal care products is trending, resulting in many manufacturers demanding for the same. Ginseng is most popularly used to improve skin complexion since its roots and leaves are rich in vitamins, minerals, and antioxidants, all of which are beneficial to the skin.

Ginseng also helps in toning the skin as it helps to reduce black spots on the face. It treats skin diseases by improving blood circulation and acts as an anti-apoptotic that aids hair regeneration and stimulates hair growth by increasing blood flow to the scalp,” says Manjunath.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630-333-9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio analysts forecast the global ginseng market to grow at a CAGR of more than 12% over the projected period, 2017-2021.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630-333-9501
UK: +44 208 123 1770
www.technavio.com