Panax Quinquefolius Market will register a 9.4% CAGR in terms of revenue, the global market size will reach $ 112.7 million by 2027, from $ 79 million in 2021.
Panax Quinquefolius Market Overview
Ginseng traditional remedies and food supplements are the globally top selling herbal products. Panax ginseng, Panax quinquefolius and Panax notoginseng are the main commercial ginseng species in herbal medicine. Prices of ginseng products vary widely depending on the species, quality, and purity of the used ginseng, and this provides a strong incentive for intentional adulteration. The authenticity results of 507 ginseng-containing commercial herbal products sold in 12 countries scattered across six continents. The analysis of the botanical and chemical identity of all these products shows that 76% are authentic while 24% were reported as adulterated.
The number of commercial products as well as the percentage of adulteration varies greatly between continents, being highest in South America (100%) and Australia (75%), and lower in Europe (35%), North America (23%), Asia (21%) and Africa (0%). At a national basis, from the five countries for which more than 10 products have been successfully authenticated, the highest percentage of adulterated ginseng products were purchased from Taiwan (49%), followed by Italy (37%), China (21%), and USA (12%), while all products bought in South Korea were reported to be authentic. In most cases, identified Panax species were replaced with other Panax species, although ginseng root, the medicinally plant portion, was also replaced with leaves, stems, or blossoms.
What are the major Applications, Types and Regions for Panax Quinquefolius Market?
Panax Quinquefolius Market is segmented based on the type, applications, companies and regions.
Panax Quinquefolius Market has been segmented into By Type,
- Canada Panax Quinquefolius
- American Panax Quinquefolius
- Chinese Panax Quinquefolius
Panax Quinquefolius Market has been segmented into By Application,
- Fragment/Round grain
- Capsule
- Powder
- Other
Panax Quinquefolius Market Regional Analysis
The report offers in-depth assessment of the growth and other aspects of the Panax Quinquefolius Market in important regions, including the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
In 2020, the Asia-Pacific Ginseng Market accounted for 38% of total revenue. China is the world's biggest ginseng producer, according to the Jilin Provincial People's Government, accounting for around 70% of global production. The Chinese FDA has approved a large number of ginseng health products, indicating that the plant is gaining popularity in the country. Furthermore, the increased prevalence of chronic diseases, as well as the growing trend toward a healthier lifestyle, are driving demand for ginseng-based supplements to be used in meals, beverages, and pharmaceuticals. South Korea, on the other hand, is the world's largest ginseng distribution market, with a varied variety of bioactive substances goods consumed to the point that any sort of ginseng product can be found in South Korea, making it a vast prospective market for global Ginseng producers. North America is expected to grow during the forecast period 2022-2027, owing to increased demand for organic and health-conscious products over the forecast period, propelling the Ginseng Market.
What is our Panax Quinquefolius Market Report Scope?
Report Attributes
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Report Details
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Forecast Period 2022 to 2027 CAGR
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CAGR of 9.4% over the forecast period (2022-2027)
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By Type
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- Canada Panax Quinquefolius
- American Panax Quinquefolius
- Chinese Panax Quinquefolius
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By Application
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- Fragment/Round grain
- Capsule
- Powder
- Other
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By Companies
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Kangmei Pharmaceutical, Letaotao, HSU' GINSENG, Lingbao, Yisheng, TakShing Hong
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Regions Covered
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- North America
- Europe
- Asia-Pacific
- Rest of the World
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Countries Covered
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- US
- Canada
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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Base Year
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2022
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Historical Year
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2017 to 2021
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Forecast Year
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2022 to 2027
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Number of Pages
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99
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Customization Available
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Yes, the report can be customized as per your needs
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Key Takeaways from this Panax Quinquefolius Report
- Evaluate Panax Quinquefolius market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market - key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the Panax Quinquefolius market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
Frequently Asked Questions
What is the growth rate of Panax Quinquefolius Market?
The Panax Quinquefolius Market is growing at a CAGR of 9.4% over the next 5 years.
Who are the key players in Panax Quinquefolius Market?
Kangmei Pharmaceutical, Letaotao, HSU' GINSENG, Lingbao, Yisheng, TakShing Hong
What are the significant types of Panax Quinquefolius Market?
Canada Panax Quinquefolius, American Panax Quinquefolius, Chinese Panax Quinquefolius
What are the major end-use applications of Panax Quinquefolius Market?
Fragment/Round grain, Capsule, Powder, Other
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
