Ginseng Market Projected for USD 195.03 Million Growth between 2024 and 2028: Market to Focus on Organic Ginseng Products

NEW YORK, Feb. 1, 2024 /PRNewswire/ — The Ginseng market size is projected to increase by USD 195.03 million, at a CAGR of 5.05% between 2023 and 2028, according to the latest report by Technavio. The growth narrative in the Ginseng market is substantiated by various factors. The cultural and historical practices in countries like China, South Korea, and Japan contribute to the significant growth of the ginseng product market in the APAC region. The market experiences heightened demand, especially in regions like South Korea, renowned for its Korean red Ginseng. For more information – Request a Free Sample Report.

What are the Growth Drivers, Trends, and Challenges?

Growth Drivers: Rising awareness of the health benefits of ginseng is notably driving the market growth
Trends: Increased demand for organic ginseng products is an emerging trend shaping the market development
Challenges: The high susceptibility of ginseng plants to pests and diseases is a significant challenge hindering market growth.

What are the key insights? Market Segmentation:

The report segments the market by Product, End-User, and Geography. The Retail and convenience stores, particularly supermarkets, play a vital role in making Ginseng products accessible to consumers, contributing significantly to market growth.. Regional Impact: The Asia-Pacific (APAC) region emerges as a frontrunner, contributing a formidable 31% to global market growth. The report decodes the regional dynamics, emphasizing factors such as industrialization, urbanization, and infrastructure development driving APAC’s pivotal role in market expansion. In-depth insights into other key segments, including end-users and regions, empower stakeholders to make informed decisions. View Free Sample Report.

Who’s Navigating the Competitive Landscape?

A few market players like AOS Products Pvt. Ltd., Auragin LLC, Bio Botanica Inc., Botalys SA, Herbal Creations, KAVYA PHARMA, Korea Ginseng Corp., MotherTree Nutra Pvt. Ltd., Natures Way Brands LLC, Nestle SA, and others, strategically navigate the market’s dynamics. The report offers nuanced insights into their alliances, mergers, and product launches, shaping the competitive landscape. The report provides strategic insights into key players, offering stakeholders a roadmap for navigating the dynamic Ginseng market. For a comprehensive understanding, purchase the full report.

Ginseng Market 2024-2028 : Segmentation

Ginseng Market is segmented as below:

Distribution Channel

RS And CS
Online

Application

Dietary Supplements
Pharmaceutical Products
Functional Food And Beverage Processing

Geography

APAC
North America
Europe
South America
Middle East And Africa

Learn more about the additional trends impacting the future of the market and the positive and negative consequences on the businesses., download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR77275

Ginseng Market 2024-2028 : Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our ginseng market report covers the following areas:

Ginseng Market size
Ginseng Market trends
Ginseng Market industry analysis

This study identifies Increased demand for organic ginseng products as one of the prime reasons driving the ginseng market growth during the next few years.

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Table Of Contents :

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Deployment

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 competitive Landscape

12 companies Analysis

13 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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