The global ginseng powder market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). Ginseng refers to 11 different varieties of a short, slow-growing plant with fleshy roots. The herb has a light-colored, forked-shaped root, a relatively long stalk, and green leaves in an oval shape. Its powder is broadly used for various medicinal as well as cosmetic purposes apart from being used in nutraceutical foods. The major factors contributing to the growth of the market include its rising application in the cosmetic and personal care sector and increasing awareness regarding health benefits associated with ginseng. There is an increasing demand for ginseng as a multifunctional ingredient in skin care formulations to balance the production of the oil gland, soothe inflammation, smooth out wrinkles, or provide tone or luminance.
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All three species of ginseng, including the American ginseng, the Asian or Korean ginseng, and the Siberian ginseng has been used in multiple moisturizer lotions, cleansers, and toners that preserves and restores skin elasticity. Owing to its potential applications in cosmetics and personal care products, some additional research on expanding the use of ginseng in this field has been reported. For instance, in January 2020, Daebong Life Science discovered new cosmetic applications for red ginseng targeting skin microbiome health and hydration. In Korea and other Asian nations, including China, Red ginseng works are used as a traditional herbal medicine which is found in several anti-aging products, which includes those from luxury brand Sulwhasoo. This is likely to boost the global ginseng powder market.
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Market Coverage
Segment Covered-
- By Type
- By Application
Regions covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape: Natural Organics Inc., Gaia Herbs Inc., and NOW Health Group, Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Ginseng Powder Market Report by Segment
By Type
- Panax Ginseng
- American Ginseng
By Application
- Pharma & Healthcare
- Cosmetic & Skincare
- Food and Feed Additives
- Others
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