Ginseng Extract Market size to exceed $35mn by 2026
Published Date: January 6, 2020 Authors: Kunal Ahuja, Sonal Singh
Ginseng Extract Market size is set to surpass USD 35 million by 2026; according to a new research report by Global Market Insights, Inc.
Ginseng extract is produced from ginseng plant which is categorized as single stalk plant with fleshy root and green leaves. This plant can live for more than a century because it is a perennial plant. Ginseng extract is considered as an herbal supplement which possess superior characteristics including anti-inflammatory, antioxidant and anti-cancer properties. Factors propelling the market growth is the rising utilization of product as homeopathic treatment for depression, stress and attention deficit hyperactivity disorder.
Rising demand for capsule dosage form ginseng extract in dietary supplement to foster product market size
According to market trends, Capsule dosage form ginseng extract market may attain significant growth over forecasted timeframe due to robust application in dietary supplement and pharmaceutical industry. Capsule dosage form ginseng extract is majorly used as plant extract to induce human vitals improvement properties in dietary supplements production. Dietary supplements consumption growth owing to changing dietary trends coupled with positive insights towards sports & fitness industry predominantly in China and India should boost overall ginseng extract industry.
As per market forecasts, technological upgradations have resulted in utilization of product in manufacturing foods and cosmetics. Ginseng extracts are predominantly used in food products due to persuading properties including fatigue reduction and boosting cognitive skills, thus propelling industry growth.
Browse key industry insights spread across 170 pages with 164 market data tables and 25 figures & charts from the report, “Ginseng Extracts Market Size By Dosage Form (Powder, Liquid, Capsule), By Application (Personal Care & Cosmetics, Food, Dietary Supplement, Pharmaceuticals) Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Poland, China, India, Japan, South Korea, Indonesia, Malaysia, Thailand, Australia, Brazil, Saudi Arabia, UAE, South Africa) Competitive Market Share & Forecast, 2015 – 2026” in detail along with the table of contents:
Fostering personal care and cosmetics industry to increase ginseng extract usage
As per market analysis, Ginseng extract is predominantly utilized in formulation of personal care & cosmetic products. This product finds utilization in personal care & cosmetics market including bath products, eye make-up and body & hand lotions. Rising utilization of personal care & cosmetics products owing to rising personal grooming trends among men, easy product accessibility due to e-commerce and emerging low-priced products has resulted in personal care & cosmetics market growth.
Rising R&D investments and latest product development has resulted in use of ginseng extract in production of organic products which may open up new opportunities for market.
Persuading attributes posed by liquid dosage form ginseng extract should boost market demand
As per market trends, liquid dosage form ginseng extract market may attain growth of CAGR 5.5% from 2019 to 2026. Liquid dosage form ginseng extract may attain traction in overall global market size owing to increasing usage in herbal dietary supplements and cosmetics manufacturing. Liquid dosage form ginseng extract offers persuading attributes in manufacturing cosmetic products which including skin nourishment, wrinkle repair and aging retardation will boost industry demand.
Booming pharmaceutical demand will boost ginseng extract utilization throughout Europe
According to market analysis & trends, affirmative government action plans by EU commission including PRIME enables new avenues for pharmaceutical manufacturing in the region. This regulation will help both pharma companies and government to work together in order to produce medications for unmet medical conditions which should boost regional market growth. Ginseng extract market size is imputed to growing pharmaceutical manufacturing in the region due to high R&D investments along with rising incorporation into medicinal formulations to add functional properties.
Major market players in ginseng extract industry are BI Nutraceuticals, RFI ingredient, Shanti Natural, Herbal Bio Solutions, KGEC, S.A. Herbal Bioactives LLP, Clariant, Orkla Health UK, Hangzhou Skyherb Technologies Co., Ltd., Liuyang Naturalin Bio-Tech Co., Ltd., Nino Biotech Co., Ltd, Sinochem Pharmaceutical Co., Ltd, Naturalin Bio-Resources Co., Ltd, Ningbo Osaki Biotech Co.,Ltd, Changsha Huir Biological-Tech Co., LTD, Baoji Herbest Bio-Tech Co.,Ltd and KOEI KOGYO Co.,Ltd.
As per market forecasts, major market players are adopting various strategic action plans such as new product launch, R&D investment, partnerships and strategic mergers & acquisitions to attain majority market share.
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