The global American ginseng extract market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). There are various pivotal factors that are driving the market growth include growing health awareness, significant disposable income, and the rising demand for nutrition and dietary supplements containing American ginseng among the target consumers. American ginseng is native to eastern North America and is exported across the globe. Besides, American ginseng possesses various properties such as its cooling and sedative medicinal effects. Ginseng roots are also consumed both as food and medicine in the region. The American ginseng represents the cooling yin qualities, while Asian ginseng embodies the warmer aspects of yang. Further, the American ginseng is also widely used as an effective treatment for various diseases such as cancer, and diabetes, among others. For instance, according to International Diabetes Federation, the prevalence of diabetes is around 13.3% of the total adult population in the region which is expected to increase up to 14.2% by 2030 and 15.0% by 2045.
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As per the Canadian researchers at the University of Toronto, ginseng plays a vital role in controlling the after-meal blood sugar levels. It is also stated that Ontario-grown American ginseng taken before a meal could significantly reduce after-meal blood sugar levels in people with or without type 2 diabetes. Thus, the rising prevalence of such diseases is likely to create a wide scope for the growth of the global American ginseng extract market in the North American region during the forecast period. Further, ginseng also possesses antioxidant, anti-inflammatory, antimicrobial, anti-cardiovascular disease, anti-obesity properties. Hence, a wide range of properties, and fewer side effects will positively impact the growth of the global American ginseng extract market.
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Market Coverage
Segment Covered-
- By Product
- 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 American Ginseng Extract Market Report by Segment
By Product
- Capsule
- Tablet
- Powder
- Others
By Application
- Pharma and Healthcare
- Cosmetic and Skincare
- Food and Feed Additives
- Others
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