Indian Ginseng Market Size - By Type (KSM-66, Sensoril, Hydro-alcoholic, Crude), Product Type (Root Products, Leaf Products, Leaf & Root Mix Products), Forms (Powder, Capsule, Liquid), Function, Growth Prospects, Regional Outlook & Global Forecast, 2023 – 2032

Indian Ginseng Market Size

Indian Ginseng Market size was valued at USD 641 million in 2022 and is estimated to grow at over 6.1% CAGR from 2023 to 2032. The global market for Indian ginseng, a popular adaptogenic herb used in traditional Ayurvedic medicine, has been experiencing significant growth. Its surge in popularity is primarily attributed to the increasing consumer preference for natural and herbal supplements, coupled with growing awareness of its various health benefits.
 

Indian ginseng, known for its stress-reducing, anti-inflammatory, and immune-boosting properties, has found widespread application in the pharmaceutical, nutraceutical, and personal care industries. In recent years, the Indian ginseng market has witnessed a rise in the demand for Indian ginseng-based products, including capsules, powders, and extracts. Moreover, the herb has gained attention in the beauty and skincare sector, owing to its purported anti-aging and skin-soothing qualities. Several key companies have invested in research and development activities to introduce innovative formulations and leverage the herb's therapeutic potential.
 

One of the notable challenges facing the ashwagandha market is the intensifying competition from other adaptogenic herbs. As consumer awareness about natural remedies continues to grow, various other herbs, such as Rhodiola, Ginseng, and Holy Basil, have emerged as formidable alternatives, offering similar health benefits and therapeutic properties. This heightened competition presents a significant hurdle for the market, as consumers might shift their preferences towards other adaptogens, driven by factors such as availability, perceived efficacy, and cultural relevance. Furthermore, the marketing and promotion of these alternative herbs, often backed by their own historical significance and clinical studies, can potentially undermine market position.
 

COVID-19 Impact

The increased focus on health and wellness during the pandemic has led to a surge in demand for natural and herbal supplements, including Indian ginseng. Consumers have shown a heightened interest in products known for their immune-boosting and stress-reducing properties, which has bolstered the demand for Indian ginseng -based supplements.
 

Additionally, the rise in mental health issues and stress-related disorders during the pandemic has further amplified the demand for Indian ginseng due to its perceived benefits in managing stress and anxiety. Conversely, the disruptions caused by the pandemic, such as supply chain constraints, labour shortages, and restrictions on international trade, have adversely affected the market. These challenges have led to fluctuations in the availability and pricing of Indian ginseng raw materials and finished products, impacting both production and distribution.
 

Indian Ginseng Market Trends

In recent years, there has been an increasing integration of Indian ginseng into various functional food and beverage products, including energy drinks, nutrition bars, and herbal teas. This trend is largely driven by the rising demand for convenient and on-the-go wellness solutions that cater to the busy lifestyles of modern consumers. Additionally, there has been a noticeable shift towards the development of Indian ginseng-based beauty and personal care products, such as skincare serums and anti-aging creams, owing to the growing consumer inclination towards natural and organic ingredients in the cosmetic industry.
 

Indian Ginseng Market Analysis

Based on Type, the KSM 66 type segment held over USD 192.8 million revenue in 2022. KSM-66, renowned for its high potency and standardized composition, holds a significant market share owing to its widespread application in pharmaceutical and nutraceutical products. With its emphasis on maintaining the full spectrum of bioactive constituents, KSM-66 has gained traction among consumers seeking potent and reliable Indian ginseng-based supplements. Sensoril, recognized for its stress-reducing and mood-enhancing properties, also commands a substantial market share, particularly in the wellness and personal care sectors.
 

Based on Product Type, the Indian ginseng root products segment accounted for 67.99% of the Indian ginseng market share in 2022, due to the wide recognition of the root's medicinal properties, including stress reduction, immune system enhancement, and anti-inflammatory benefits. The robust demand for these products stems from the traditional use of Indian ginseng roots in Ayurvedic medicine and the increasing consumer awareness of their health benefits.
 

Based on Form, the Indian ginseng market from powder form segment will gain remarkable momentum during the forecast timeline. Indian ginseng powder is known for its versatility and ease of incorporation into various food and beverage products. It caters to the rising demand for functional ingredients in the wellness and dietary supplement industries. Its adaptability in different culinary preparations and the convenience it offers in customized dosing have contributed to its widespread popularity among health-conscious consumers. Indian ginseng capsules, encapsulating the herb's therapeutic properties in convenient and standardized doses, constitute a substantial portion of the market share, appealing to consumers seeking hassle-free consumption and precise dosage control.
 

Based on Function, the Indian ginseng market is segmented as Improved stamina, Improved immunity, Overall wellbeing, Reduced anxiety and stress, Brain health, Muscle strength and Others. Improved stamina held the dominant market in 2022 and is anticipated to grow through the years. Improved stamina function caters to fitness enthusiasts and individuals seeking performance-boosting solutions. The growing interest in natural supplements for physical endurance, cognitive enhancement, and muscle recovery has led to an increased demand for Indian ginseng products tailored to these specific functions.
 

Asia Pacific ashwagandha market size dominated around USD 225.9 million in 2022. With a rich cultural heritage deeply rooted in the use of botanical remedies, the Asia Pacific region holds a substantial market share in the production and consumption of Indian ginseng. Countries such as India, the birthplace of Ayurveda, and Nepal have been pivotal in the cultivation and processing of high-quality Indian ginseng, leveraging their indigenous knowledge and expertise to meet both domestic and international demand.
 

The widespread acceptance of Ayurvedic principles and the increasing awareness of the health benefits associated with Indian ginseng have fueled the regional market growth, with consumers incorporating Indian ginseng-based products into their daily wellness routines. Additionally, the presence of established herbal medicine industries and the prevalence of holistic healthcare practices in countries across the Asia Pacific region have contributed to the continuous expansion of the market.
 

Indian Ginseng Market Share

Some of the major companies operating in the Indian Ginseng industry are:

• KSM-66 Ashwagandha
• Sensoril Ashwagandha
• Ashwagandha Research & Development
• Arjuna Natural Extracts
• Sabinsa Corporation
• PhytoLife Sciences
• Alkem Laboratories
• Himalaya Global Holdings
• Dabur India
• Zydus Wellness
• Amway India
• Sri Sri Ayurveda
• Patanjali Ayurved
• Herbalife Nutrition

These companies focus on strategic partnerships, new Type launch & commercialization for market expansion. Furthermore, these companies are heavily investing in research that allows them to introduce innovative Types and garner maximum revenue in the market.
 

KSM Ashwagandha holds a significant market share. KSM-66 Ashwagandha is a proprietary full-spectrum Ashwagandha extract manufactured by Ixoreal Biomed. The company’s products are sold in over 50 countries around the world. KSM-66 ashwagandha products are one of the most clinically studied Indian ginseng extracts on the market and has been shown to be effective in reducing stress, anxiety, and depression. It is also known to improve sleep quality, cognitive function, and physical performance.
 

Indian Ginseng Industry News

• In the month of April 2022, Kerry successfully finalized the purchase of Natreon, a renowned company specializing in scientifically supported botanical extracts. Natreon is recognized for providing rigorously researched Ayurvedic extracts to the global dietary supplement, functional food, and beverage sectors. This acquisition serves to notably enhance Kerry's prominent standing and ProActive Health product line, reinforcing the company's commitment to advancing its technological capabilities.
   

The Indian ginseng market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Units in Tons from 2018 to 2032, for the following segments:

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Market, By Type

• KSM-66
• Sensoril
• Hydro-alcoholic Indian ginseng
• Crude Indian ginseng

Market, By Product Type

• Indian ginseng root products
• Indian ginseng leaf products
• Indian ginseng leaf and root mix products

Market, By Form

• Powder
• Capsule
• Liquid

Market, By Function

• Improved stamina
• Improved immunity
• Overall wellbeing
• Reduced anxiety and stress
• Brain health
• Muscle strength
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Malaysia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Egypt