Ginseng Prices

Ginseng Prices December 2023

In 2023, the price of ginseng in the United States reached 42 USD/kg by December. Similarly, in China, the ginseng prices hit 25 USD/kg in the December 2023.

Ginseng Price Trend, Market Analysis, and News

IMARC's latest publication, “Ginseng Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” presents a detailed examination of the ginseng market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of ginseng at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents a detailed ginseng price trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting ginseng pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.

Ginseng Market Analysis

The global ginseng market size reached US$ 8.8 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 15.3 Billion, at a projected CAGR of 6.10% during 2023-2032.

• The rising consumption of ginseng due to its immune-boosting properties is driving the market expansion. It enhances the production of immune cells, such as lymphocytes and macrophages, which help the body fend off infections and diseases thereby aiding the market growth.
• Aside from that, ginseng possesses strong anti-inflammatory properties, primarily due to its ginsenosides. These compounds help reduce inflammation by inhibiting the production of pro-inflammatory cytokines. This makes ginseng beneficial for individuals suffering from chronic inflammatory conditions such as arthritis and inflammatory bowel disease, which strengthening the market growth.
• Moreover, the high antioxidant contents of ginseng, which help neutralize harmful free radicals in the body, is fueling the market growth. By reducing oxidative stress, ginseng helps protect the body from cellular damage, thereby supporting the market expansion.
• Besides this, ginseng has been shown to help regulate blood sugar levels, making it beneficial for individuals with diabetes or those at risk of developing the condition. It improves insulin sensitivity and promotes the uptake of glucose by cells. This helps maintain stable blood sugar levels and reduces the risk of diabetes-related complications, making ginseng a valuable tool in managing and preventing diabetes.
• Furthermore, the growing product adoption to aid the cardiovascular health by improving blood circulation and reducing oxidative stress on blood vessels, is fostering the market growth. It helps lower blood pressure, reduce cholesterol levels, and prevent the formation of arterial plaque. These effects collectively contribute to a reduced risk of heart disease and stroke, making ginseng an important supplement for maintaining heart health.
• In addition, the widespread consumption of ginseng to improve sleep quality by reducing stress and promoting relaxation is acting as another growth-promoting factors. It relieves and regulates the sleep-wake cycle and reduces symptoms of insomnia, making it easier to fall asleep and stay asleep. Additionally, ginseng's ability to reduce anxiety and promote overall well-being also contributes to its effectiveness in improving sleep quality, making it a valuable supplement for those struggling with sleep issues.
• Another factor strengthening the market growth is its utilization by athletes and physically active individuals to enhance physical performance and endurance. In this context, ginseng helps increase energy levels, reduce muscle damage, and improve recovery time after intense exercise.

Ginseng News

The report covers the latest developments, updates, and trends impacting the price of ginseng, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the ginseng price trend.

Latest developments in the ginseng industry:

• In March 2024, Korea Ginseng Corporation US (KGCUS), also known as JungKwanJang, unveiled its new grapefruit flavored EVERYTIME ginseng product at the 2024 Natural Products Expo West. Alongside the launch, KGCUS promoted its "Food as Medicine" initiative and introduced the marketing slogan "Rev Your Life." The campaign aims to encourage a healthier lifestyle through optimized circulation, aligning with current wellness trends.
• In June 2024, AVF launched ginseng sprout trials in their lab following successful saffron trials. The trials will be documented in a blog series, providing updates and insights. This initiative precedes the AVF Summit at VertiFarm in Dortmund from October, which will explore medicinal plant cultivation, including Traditional Chinese Medicine.

Product Description

Ginseng is a plant characterized by its fleshy roots, belonging to the genus Panax in the Araliaceae family. It is renowned for its medicinal properties and has been used in traditional medicine for centuries, particularly in Asia and North America. There are several species of ginseng, with Panax ginseng (Asian ginseng) and Panax quinquefolius (American ginseng) being the most commonly used. Ginseng is often used to promote overall health, vitality, and longevity.

Its applications are diverse, spanning traditional medicine, dietary supplements, and even cosmetics. In traditional medicine, ginseng is believed to replenish energy, improve cognitive function, and strengthen the immune system. Additionally, ginseng is often used in energy drinks, teas, and nutritional supplements aimed at enhancing physical and mental performance. The adaptogenic properties of ginseng help the body resist stress and maintain homeostasis.

Regional Coverage

The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the ginseng price trend. 

Global Ginseng Price

The report offers a holistic view of the global ginseng pricing trends in the form of ginseng price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price levels but also provides insights into historical price of ginseng, enabling stakeholders to understand past fluctuations and their underlying causes. The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed ginseng demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Ginseng Price

European ginseng prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.

Detailed price information for ginseng can also be provided for an extensive list of European countries.

North America Ginseng Price

The analysis of ginseng prices in North America delves into the regional industry dynamics, encompassing the impact of local production and the trade flows between North America and other significant global markets.

Specific ginseng historical data within the United States and Canada can also be provided.

Middle East and Africa Ginseng Price

The report explores the ginseng pricing trends in the Middle East and Africa, considering factors like the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Ginseng Price

The ginseng pricing trends in the Asia Pacific are examined, reflecting the role of the region as a major global producer and consumer of agricultural products, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.

This ginseng price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Ginseng Price

The analysis of ginseng prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, agricultural output, and trade frameworks.

This comprehensive review can be extended to include specific countries within Latin America.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of ginseng pricing, covering global and regional trends, spot prices at key ports, and a breakdown of FOB and CIF prices.
• The study examines factors affecting ginseng price trend, including input costs, supply-demand shifts, and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The ginseng price charts ensure our clients remain at the forefront of the industry.