The Asia Pacific Ginseng Extracts Market would witness market growth of 10.1% CAGR during the forecast period (2020-2026). The ginseng extract is derived from the roots of Panax quinquefolius and Panax ginseng. Since this extract is obtained from plants, it is considered as a valuable and significant traditional medicine in Asian countries including Japan, Korea, and China. Ginseng roots have a high content of ginsenosides, phenolic compounds, and saponins, like carotenoids and carbohydrates.
The powder segment of the ginseng is also driven by other beneficial attributes, comprising anti-inflammatory, antioxidant, and anti-cancer properties. The segment growth is also accredited to its considerable application scope in both food and beverages, and the cosmetic industry. In addition to it, increasing internet penetration and changing consumer’s inclination towards online shopping, resulting in easy accessibility of a wide range of product variety are the major factors that are expected to boost the market in the coming years.
Asia-Pacific is expected to hold a prospective share in the market due to the huge production of ginseng and increasing demand for herbal medicines in this region. According to the Jilin Provincial People’s Government, China is the main producer of ginseng, with an output of nearly 70% of the total global production. Chinese FDA has recently approved a large number of ginseng health products that show growing support for ginseng products in the country. Moreover, increasing the shift for a healthy lifestyle and the substantial occurrence of chronic diseases is also encouraging the demand for ginseng-based supplements to be used in food and beverages, and medicines.
Based on Application, the market is segmented into Pharmaceuticals, Food & Beverages, Dietary Supplements and Cosmetics & Personal Care. Based on Form, the market is segmented into Powder and Liquid. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: Ginseng Extracts Market in Asia Pacific is expected to register a CAGR of 10.1% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Clariant AG, Orkla ASA, Sinochem Group Co., Ltd., RFI Ingredients, LLC, Shanti Natural Extracts, Hangzhou Skyherb Technologies Co., Ltd., S.A. Herbal Bioactives LLC, Changsha Huir Biological-Tech Co., Ltd., Baoji Herbest Bio-Tech Co., Ltd. and Liuyang Naturalin Bio-Tech Co., Ltd.
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Companies Profiled
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