November 30, 2020
According to the research report titled ‘Ginseng Extract Market Size By Dosage Form, By Application, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2026‘, available with Market Study Report LLC, global ginseng extract market is expected to surpass a valuation of USD 35 million by 2026.
High demand for organic products to avoid the risk caused by synthetic ingredients is a major factor driving the global ginseng extract market. Changing consumer preferences towards ginseng extract due to its benefits such as maintaining blood pressure, improving brain function, immune system, and addressing fatigue issues are propelling the industry growth.
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Moreover, rising adoption of several R&D activities by major companies for better usage of the product in food, personal care & cosmetics, dietary supplements and pharmaceutical products manufacturing, owing to its anti-inflammatory, anti-cancer, and antioxidant properties is creating opportunities for the global ginseng extract industry outlook.
Increasing incidences of chronic disorders such as cancer, cardiovascular diseases and diabetes, rise in geriatric population as well as increasing utilization of herbal remedies is positively influencing the industry growth. However, side effects caused while excessive consumption of ginseng extract such as rise in heart rate, loss of appetite, high or low blood pressure, headache, diarrhea, itching, rash, and dizziness are expected to hamper the global ginseng extract market growth in coming years.
As per the research document, U.S. ginseng extract industry from dietary supplements generated revenues worth USD 39.3 billion in the year 2019 and is poised to depict similar growth patterns in the ensuing years. Factors including high concentration of prominent companies and growing demand for dietary supplements owing to rising health cognizance as well as increasing occurrence of lifestyle diseases are complementing the business outlook in the United States.
Major players influencing global ginseng extract market trends are Sinochem Pharmaceutical Co. Ltd., S.A. Herbal Bioactives LLP, KGEC (Korean Ginseng Export Corp.), Shanti Natural, Clariant AG, Changsha Huir Biological-Tech Co. Ltd., Liuyang Naturalin Bio-Tech Co. Ltd., Naturalin Bio-Resources Co. Ltd., Orkla Health UK Ltd., RFI ingredient Inc., Ningbo Osaki Biotech Co. Ltd., Hangzhou Skyherb Technologies Co. Ltd., Herbal Bio Solutions, Nino Biotech Co. Ltd., and BI Nutraceuticals Inc.