[FURL=https://www.industryarc.com/Report/19638/ginseng-market.html?utm_source=BriefingWire&utm_medium=PressRelease&utm_campaign=PaidPressRelease]Ginseng Market[/FURL] size was estimated at $5.9 billion in 2020, projected to grow at a CAGR of 4.3% during the forecast period 2021-2026. Ginseng is a root of plant called panax. Ginseng refers to eleven distinct varieties of short, slow growing plant with fleshy root. It is known to improve and promote wellbeing and one of the most common herbal remedies. There are several varieties of this herb, but the most popular variety is American ginseng (Panax quiquefolius) and Asian ginseng (Panax ginseng). American and Asian ginseng differs in their concentration of active compounds and their effects on the body. American ginseng is known to act as a calming agent, whereas Asian ginseng invigorating impact effect. In general four countries including South Korea, China, Canada and U.S. are the main producers and their cumulative output of fresh ginseng is about 79,769tons, that is more that 99% of 80,080tons, the total production of ginseng worldwide. Ginseng consists of two major compounds namely ginosides and ginotin, these two compounds complement each other to provide health benefits like boosts immunity, reduce inflammation, improves brain function, helps in erectile dysfunction, fights against cancer, fights tiredness and improves energy levels, lowers blood sugar that is driving the markets growth. However, people those are on diabetes medications should monitor their blood sugar levels while using ginseng as it lowers the bloods sugar levels too much that hinders the markets growth. Key Takeaways
Geographically, Asia-Pacific Ginseng Market accounted for the 36.9% revenue share in 2020 owing to the high consumption of Ginseng in this region.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market is provided in the Ginseng Market.
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Ginseng Market Drivers
Growing Health Awareness:
The growing health awareness is rising the demand for plant-based products that is driving the markets growth of the Ginseng and its products. Using plant-based products has become a new trend as these products reduces the risks of diseases, moreover, the safety and health benefits provided by the plant-based products have gained demand for ginseng at a global scale.
Ginseng Market top 10 companies are Organika Health Products Inc., Korea Ginseng Corp, DADONG ginseng KOREA CO, LTD., Ningbo Gianon Biotech Co., Ltd., ILTWA CO.LTD., Cheong Kwan Jang., Rainey Ginseng Farms Ltd, KOSHIRO COMPANY LIMITED, Nature Essential, Inovital, Elmis Ltd.
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