Market Research Report
Ginseng Extract Market Size By Dosage Form, By Application, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2026
|Published by||Global Market Insights Inc.||Product code||922680|
|Published||Content info||170 Pages
Delivery time: 2-3 business days
|Ginseng Extract Market Size By Dosage Form, By Application, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2026|
|Published: January 3, 2020||Content info: 170 Pages||
Ginseng Extract Market Size By Dosage Form (Powder, Liquid, Capsule), By Application (Personal Care & Cosmetics, Food, Dietary Supplement, Pharmaceuticals), Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2026.
Ginseng extract market is expected to exceed USD 35 million by 2026. Rising demand for organic products to mitigate risks posed by synthetic ingredients should fuel product demand.
Increasing prevalence of chronic disorders including cancer, cardiovascular diseases and diabetes along with geriatric population and utilization of herbal remedies for mitigating diseases shows elevating market opportunities for ginseng extract. Ginseng extracts play a vital role in the manufacture of various products in personal care & cosmetics, food, dietary supplement and pharmaceutical applications owing to its anti-cancer, anti-inflammatory and antioxidant properties.
As per market insights, supportive government regulations including Michigan Ginseng Certification Program which was established for promoting production and harvest of cultivated ginseng will instigate market growth prospects for ginseng extract. Ginseng extract market is subject to propel owing to rising consumer preference towards preventive health management practices due to escalating health care expenses. However, side effects on excessive utilization posed by ginseng extract including increased heart rate, high or low blood pressure, loss of appetite, headache, itching, diarrhea, rash, and dizziness may hinder product demand, thus limiting market growth.
As per ginseng extract industry trends, companies are engaged in expanding their manufacturing capabilities to improve productivity and contribute to market growth. For instance, in September 2018, Foxconn, a Taiwanese electronics conglomerate has signed an agreement with Ginseng Board of Wisconsin and University of Wisconsin Carbone Cancer Center to jointly develop Wisconsin's ginseng industry and grow Foxconn ginseng brand. Through this agreement, the company will be able to deploy high end inspection technology and improve production capability in order to cater growing demand for ginseng extract in America along with strengthening market share.
According to industry analysis, market demand for dietary supplement products in U.S. has strengthened due to the need for products having multiple functional properties including reduction in blood sugar & cholesterol levels, reduce stress, boost energy, and treat diabetes. Revenue from dietary supplement market in U.S. generated a revenue over USD 39.3 billion in 2019 which shows significant market opportunities. According to market analysis, U.S. dietary supplements market growth is due to escalating prevalence of lifestyle diseases and rising health awareness among population. Presence of major dietary supplement manufacturers in U.S. including Amway, Abbott Laboratories and Pfizer will generate opportunities for the market.
According to industry trends, market players are focusing on extensive research & development to promote product innovations which offer superior anti oxidative and anti-inflammatory properties. Manufacturers are strengthening their market presence by setting up new manufacturing facilities across the globe to sustain the growing competition in these markets.