The global ginseng market is showing steady growth: forecasts for the next decade

The global ginseng market is estimated at USD 8.4 billion in 2024 and is projected by experts to double to USD 16.99 billion by 2033, demonstrating a compound annual growth rate (CAGR) of 9.2%. The main drivers of growth are the increasing demand in the Asia-Pacific region and North America, where ginseng is widely used in the pharmaceutical and dietary industries. This is reported by AgroPerspective. South Korea, China, and the United States remain the leading producers of this valuable plant. In particular, Korean red ginseng maintains its leadership in quality and popularity among consumers. The cultivation of ginseng remains a complex and capital-intensive process due to the specific conditions required for growth. The market is characterized by significant price fluctuations, which depend on the quality, age of the root, and geography of production. The demand for natural adaptogens, particularly in the healthy lifestyle segment, ...