Europe Ginseng Market was valued at USD 0.9 Billion in 2022 and is projected to reach USD 1.5 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
The European ginseng market is experiencing significant growth, driven by increasing consumer demand for natural health products and the diverse applications of ginseng across various industries. In 2023, Europe accounted for over 32% of the global ginseng market, with a valuation of approximately USD 0.17 billion. This market is projected to expand at a compound annual growth rate (CAGR) of 3.8% from 2023 to 2030, reflecting a robust interest in ginseng-based products. citeturn0search0
Ginseng, renowned for its adaptogenic and therapeutic properties, is utilized in multiple forms, including raw, powder, and extract. Among these, the powder form is particularly favored due to its ease of consumption, high solubility, and extended shelf life. This preference aligns with the growing consumer trend towards convenient and effective health supplements. citeturn0search5
Industries such as dietary supplements, pharmaceuticals, food and beverage processing, and personal care are the primary consumers of ginseng. The dietary supplements sector, in particular, has seen a surge in demand, attributed to consumers' increasing health consciousness and the perceived benefits of ginseng in enhancing concentration, digestion, and overall vitality. citeturn0search1
In the food and beverage industry, ginseng is incorporated into products like energy drinks, teas, and functional foods, aiming to provide consumers with health-promoting options. The pharmaceutical sector utilizes ginseng for its potential medicinal properties, including its role in improving cognitive function and reducing fatigue. Additionally, the personal care industry incorporates ginseng extract into skincare products, leveraging its anti-aging and revitalizing properties. citeturn0search5
Despite its popularity, the European ginseng market faces challenges, including concerns over trade dependency and the sustainability of ginseng cultivation. Policymakers are exploring strategies to mitigate these issues, such as promoting local cultivation and diversifying sources to reduce reliance on imports. citeturn0search4
Overall, the European ginseng market presents substantial opportunities for growth, driven by its multifaceted applications and the increasing consumer shift towards natural health products. As industries continue to innovate and incorporate ginseng into various offerings, the market is expected to expand, meeting the evolving demands of health-conscious consumers.
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KGEC
Korea Ginseng Corp
HiYoU
The Boots Company
Starwest Botanicals
RFI Ingredients
Elemis
Jilin Zixin Pharmaceutical Industrial
Great Mountain Ginseng
Hain Celestial
BAYLIS & HARDING
Amway
Ethical Naturals
Glanbia
Kefiplant
Naka Focus
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Europe Ginseng Market
Asian Ginseng (Panax ginseng)
American Ginseng (Panax quinquefolius)
Eleuthero (Siberian Ginseng)
Royal Ginseng
Wild Ginseng
Whole Roots
Powder
Capsules/Tablets
Extracts (Liquid and Powdered)
Teas
Health Supplements
Pharmaceuticals
Food & Beverage
Cosmetics and Personal Care
Dietary Products
Online Retailers
Supermarkets/Hypermarkets
Health Food Stores
Pharmacies
Direct Sales/Multilevel Marketing
Teenagers (13-19)
Young Adults (20-35)
Mature Adults (36-55)
Seniors (56 and above)
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Europe Ginseng Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Europe Ginseng Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Ginseng Market, By Type
6. Europe Ginseng Market, By Application
7. Europe Ginseng Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Europe Ginseng Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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