Date: 2021-05-17In 2019, the global ginseng extract market value reached 22.9 billion U.S. dollars. It is expected that from 2020 to 2027, this market will grow at a compound annual growth rate of 6.2%. By then, the market value will reach 37 billion U.S. dollars. Consumers are interested in Asia and the East. Increasing acceptance of flavored products and growing demand for Chinese herbal medicines will drive market growth during the forecast period.
Plant-derived products are approved
Ginseng extract is derived from the plant ginseng, which is considered to be an adaptogen plant. Ginseng root contains a large number of compounds with higher biological activity, including salicylic acid, maltol phenolic acid, p-coumaric acid and vanillic acid, and contains different types of saponins (known as "ginsenosides"), which are beneficial to health , Has anti-hypertension, anti-oxidation, reducing insulin resistance, anti-tumor, immune regulation, chemical protection, phytoestrogens and anti-diabetic effects. According to different processing methods, ginseng extract is divided into fresh ginseng, red ginseng and white ginseng.
The roots of American ginseng and Korean ginseng are usually called "ginseng." Ginseng roots are known for their high content of phenolic compounds, ginsenosides and saponins (such as carotenoids and carbohydrates).
As the socio-economic status continues to change, consumers are more concerned about their health. In the past few years, plant-derived products with fewer side effects have been widely recognized, and people are more interested in ginseng, which has an increasing market value, as a functional food or health product. The bioactive compounds and extracts isolated from ginseng are believed to have a variety of health-promoting effects, such as anti-tumor, anti-oxidation, skin protection, lowering blood sugar, anti-infection, anti-osteoporosis and respiratory diseases.
Large share of powdered extract
In 2019, powdered ginseng extracts had the largest revenue share, reaching 52.1%. This segment is expected to grow significantly during the forecast period because they are convenient to handle in food form and easy to store. The powder product has low water content, which increases the shelf life. However, it is reported that due to cross-contamination during production and processing, powdered food will undergo biological degradation. In addition, even if the water content of powdered food is low, some microorganisms (including mold and dry yeast) can still grow under dry conditions.
Other beneficial properties of powdered ginseng extract are also driving market growth, including antioxidant, anti-inflammatory and anti-cancer properties. The growth of this market segment is also due to the wide application of products in the food, beverage and cosmetics fields. Other factors supporting the growth of this market segment include increasing Internet penetration and consumer online shopping preferences, increasing the wide range of product categories and the convenience of obtaining products.
The liquid product segment is expected to grow the fastest during the forecast period. Liquid ginseng extract is suitable for functional foods and pharmaceutical preparations. In the case of inattention, fatigue, lack of vitality and recovery period, liquid ginseng extract can also help strengthen immune system function, relieve fatigue, improve concentration and strengthen physical strength.
