American ginseng, a perennial herb mostly grows in the region of North America. It is a commonly known as Panax quinquefolius, used as a health enhancer and immune booster. American ginseng has been traditionally used for its nutritional and therapeutic functions and nowadays used as an ingredient in Medicine, nutraceuticals and dietary supplement products. It is found that American ginseng provides relief from common cold and flu. Increasing awareness and consumer preference for health products with American ginseng drive the global market.
On the basis of product form, American ginseng market segments include powder, liquid, and capsule. Among all of these, powder form segment holds the major share and is expected to register a substantial growth during the forecasted period. Followed by capsule form for its high demand in the pharmaceutical sector.
On the basis of application, American ginseng market segments include dietary supplements, food, beverages, pharmaceutical, dental oral care and personal care. Among all of these, dietary supplements segment holds the major share and is expected to register a steady growth over the forecasted period. Followed by the pharmaceutical segment and is expected to fuel the market over the forecasted period. The dietary supplements segment is sub-segmented into several categories include immune boosters, heart and brain healthcare, sports nutrition and weight management. Demand in terms of volume is expected to remain high for American ginseng for the dietary supplements in the global market.
Personal care segment is sub-segmented into two categories include skin and hair care. Beverages segment is sub-segmented into health drinks and tea.
North America dominates the global American ginseng market and is expected to be the major market for American ginseng products. Increase demand for nutrition and dietary supplements containing American ginseng is expected to drive the market growth across North America. The U.S. has dominance in the global market and is expected to be the largest market for American ginseng in North America. Followed by Canada to account for a steady growth in American ginseng market over the forecasted period.
Increased consumption of dietary supplements which contain American ginseng as an ingredient is expected to drive the global market demand. American ginseng used in health drinks and herbal tea drive an increase in demand for the global market. However, an increased usage of American ginseng in pharmaceutical products to dissolve the risk of various health related issues include stress, fatigue, heart disease, erectile dysfunction, and high blood pressure is also expected to fuel market growth over the forecast period.
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