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1. Global Ginseng Market is projected to reach 11.7 Billion Dollars by 2026.
2. Amid the COVID 19 crisis, the global market for Ginseng estimated at 6.1 Billion dollars in the year 2020, is projected to reach a revised size of 11.7 Billion Dollars by 2026, growing at a CAGR of 11 percent over the analysis period.
3. Grown primarily in colder regions of South Korea and North Eastern China, the market for Asian ginseng is expected to benefit from rising demand from pharmaceutical, dietary supplements, and cosmetics markets.
4. China, the world's second largest economy, is forecast to reach an estimated market size of 3.9 Billion dollars in the year 2026 trailing a CAGR of 13.1 percent through the analysis period.
5. Asia Pacific represents the leading regional market, driven by growing demand for dietary supplements and nutraceuticals and the trend towards personalized nutrition and natural supplements.
6. In North America, the growing popularity of alternative medicines specifically herbal products in recent times is giving impetus and the shift towards plant-based products is fueling demand for ginseng.
7. China has the most production with 44,749 tons, and it is estimated in the order of South Korea, 27,480 tons, ranking the 2nd, Canada 6,486 tons, the 3rd and the US 1,054 tons, etc.
8. Therefore, it is possible to say that they are responsible for the majority of the world ginseng productionThen, where is the largest market in the world in terms of distribution amount?
9. In particular, the reason why the distribution amount is large in South Korea is that 100 percent ginseng root and a variety of processed products are thriving.
10. Also, if there is South Korea's own unique distribution market, it is none other than the fresh ginseng distribution market.
11. Ginseng in South Korea is mostly estimated more than 90 percent distributed as food.
12. Ginseng is being consumed in various forms depending on the nature of consumer culture in each country.
13. On the other hand, in the case of South Korea, the world's strongest ginseng distribution market, a wide variety of products are being consumed to the extent that it is no exaggeration to say any kind of ginseng product can be found in South Korea.
14. Since the value of ginseng is evaluated as the highest among natural health foods, if health products with various functions using this ingredient are developed, they will be able to tremendously enhance the quality of life and become the world's bestseller.
15. However, if a variety of products and marketing appropriate for the international market and customers are developed along with scientific research on the efficacy, the value could expand beyond Asia and to the world in the future.
16. Although ginseng has been used in traditional medicine for centuries, modern clinical research is inconclusive about its medical effectiveness.
17. There is no substantial evidence that ginseng is effective for treating any medical condition, and its use has not been approved by the US Food and Drug Administration as a prescription drug.
18. Treatment of erectile dysfunction: Men may take ginseng to treat erectile dysfunction.