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Global Ginseng Market to reach USD XX billion by 2028.

Global Ginseng Market to reach USD XX billion by 2028.

Product Code: OIRFB-58781939
Publish Date: 3-02-2022
Page: 200

Global Ginseng Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028. Ginseng is a plant based herbal medicines. There are two main types of ginsengs, Asian or Korean ginseng and American ginseng. Ginseng has traditionally been used for a number of medical conditions. Ginseng helps in boosting immunity, improving focus and regulation of blood sugar. Growing demand for plant-based food products and rising health consciousness among consumers are key drivers for the growth of Ginseng market. For instance, according to Plant based Foods Association (PFBA) & Good Food Institute (GFI)- in the year 2020 sales of plant-based food products in US has estimated at USD 7 billion, witnessing a double-digit growth rate of over 27% from USD 5.5 billion sales in the year 2019. Also, in the year 2020, 57 percent of all U.S. households purchased plant-based foods (approximately 71 million households). Also, with growing trend of veganism and increased application in cosmetics and personal care industry, the adoption & demand for Ginseng is likely to increase the market growth during the forecast period. However, limited regional availability of raw material impedes the growth of the market over the forecast period of 2022-2028.

The key regions considered for the global Ginseng market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region across the world in terms of market share owing to increasing demand for vegan products in the region. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate over the forecast period 2022-2028. Factors such as increasing application of ginseng in pharmaceutical industry and traditional medicines would create lucrative growth prospects for the Ginseng market across Asia-Pacific region.

Major market player included in this report are:
Korean Ginseng Export Corporation
Organika Health Products Inc
Ilhwa Co. Ltd
Korean Ginseng Corp.
RFI Ingredients, Inc
Koshiro Co Ltd
Daedong Korea Ginseng Co., Ltd.
Ningbo Gianon Biotech Co., Ltd.
Sino-Nature International Co., Ltd.
Shanghai FanPharma Co., Ltd.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Source:
Wild
Cultivated
By Form:
Raw
Powder
Extract
By Variety:
Oriental Ginseng
American Ginseng
Siberian Ginseng
Others
By End Use Industries:
Personal Care Products
Dietary Supplements
Food and Beverage Processing
Pharmaceutical Products
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Ginseng Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Billion)
1.2.1. Ginseng Market, by Region, 2020-2028 (USD Billion)
1.2.2. Ginseng Market, by Source, 2020-2028 (USD Billion)
1.2.3. Ginseng Market, by Form, 2020-2028 (USD Billion)
1.2.4. Ginseng Market, by Variety, 2020-2028 (USD Billion)
1.2.5. Ginseng Market, by End Use Industries, 2020-2028 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Ginseng Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Ginseng Market Dynamics
3.1. Ginseng Market Impact Analysis (2020-2028)
3.1.1. Market Drivers
3.1.1.1. Rising demand for plant-based food products
3.1.1.2. Growing consumer health consciousness
3.1.2. Market Challenges
3.1.2.1. Low availability of raw materials
3.1.3. Market Opportunities
3.1.3.1. Increased application in cosmetics and personal care industry
3.1.3.2. Growing trend of veganism
Chapter 4. Global Ginseng Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2019-2028)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 market scenario
Chapter 6. Global Ginseng Market, by Source
6.1. Market Snapshot
6.2. Global Ginseng Market by Source, Performance – Potential Analysis
6.3. Global Ginseng Market Estimates & Forecasts by Source 2019-2028 (USD Billion)
6.4. Ginseng Market, Sub Segment Analysis
6.4.1. Wild
6.4.2. Cultivated
Chapter 7. Global Ginseng Market, by Form
7.1. Market Snapshot
7.2. Global Ginseng Market by Form, Performance – Potential Analysis
7.3. Global Ginseng Market Estimates & Forecasts by Form 2019-2028 (USD Billion)
7.4. Ginseng Market, Sub Segment Analysis
7.4.1. Raw
7.4.2. Powder
7.4.3. Extract
Chapter 8. Global Ginseng Market, by Variety
8.1. Market Snapshot
8.2. Global Ginseng Market by Variety, Performance – Potential Analysis
8.3. Global Ginseng Market Estimates & Forecasts by Variety 2019-2028 (USD Billion)
8.4. Ginseng Market, Sub Segment Analysis
8.4.1. Oriental Ginseng
8.4.2. American Ginseng
8.4.3. Siberian Ginseng
8.4.4. Others
Chapter 9. Global Ginseng Market, by End Use Industries
9.1. Market Snapshot
9.2. Global Ginseng Market by End Use Industries, Performance – Potential Analysis
9.3. Global Ginseng Market Estimates & Forecasts by End Use Industries 2019-2028 (USD Billion)
9.4. Ginseng Market, Sub Segment Analysis
9.4.1. Personal Care Products
9.4.2. Dietary Supplements
9.4.3. Food and Beverage Processing
9.4.4. Pharmaceutical Products
Chapter 10. Global Ginseng Market, Regional Analysis
10.1. Ginseng Market, Regional Market Snapshot
10.2. North America Ginseng Market
10.2.1. U.S. Ginseng Market
10.2.1.1. Source breakdown estimates & forecasts, 2019-2028
10.2.1.2. Form breakdown estimates & forecasts, 2019-2028
10.2.1.3. Variety breakdown estimates & forecasts, 2019-2028
10.2.1.4. End Use Industries breakdown estimates & forecasts, 2019-2028
10.2.2. Canada Ginseng Market
10.3. Europe Ginseng Market Snapshot
10.3.1. U.K. Ginseng Market
10.3.2. Germany Ginseng Market
10.3.3. France Ginseng Market
10.3.4. Spain Ginseng Market
10.3.5. Italy Ginseng Market
10.3.6. Rest of Europe Ginseng Market
10.4. Asia-Pacific Ginseng Market Snapshot
10.4.1. China Ginseng Market
10.4.2. India Ginseng Market
10.4.3. Japan Ginseng Market
10.4.4. Australia Ginseng Market
10.4.5. South Korea Ginseng Market
10.4.6. Rest of Asia Pacific Ginseng Market
10.5. Latin America Ginseng Market Snapshot
10.5.1. Brazil Ginseng Market
10.5.2. Mexico Ginseng Market
10.6. Rest of The World Ginseng Market

Chapter 11. Competitive Intelligence
11.1. Top Market Strategies
11.2. Company Profiles
11.2.1. Korean Ginseng Export Corporation
11.2.1.1. Key Information
11.2.1.2. Overview
11.2.1.3. Financial (Subject to Data Availability)
11.2.1.4. Product Summary
11.2.1.5. Recent Developments
11.2.2. Organika Health Products Inc
11.2.3. Ilhwa Co. Ltd
11.2.4. Korean Ginseng Corp.
11.2.5. RFI Ingredients, Inc
11.2.6. Koshiro Co Ltd
11.2.7. Daedong Korea Ginseng Co., Ltd.
11.2.8. Ningbo Gianon Biotech Co., Ltd.
11.2.9. Sino-Nature International Co., Ltd.
11.2.10. Shanghai FanPharma Co., Ltd.

Chapter 12. Research Process
12.1. Research Process
12.1.1. Data Mining
12.1.2. Analysis
12.1.3. Market Estimation
12.1.4. Validation
12.1.5. Publishing
12.2. Research Attributes
12.3. Research Assumption

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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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