Alternative medicine

Growing Acceptance of Oriental Herbal Medicines and Alternative Medicine Drives Global Ginseng Market Value to US$2.08 Billion

  • Korea Agro-Fisheries and Food Trade Corp. promotes healthy Korean food through the Korean Pavilion at Expo 2020
  • The global market value of ginseng is estimated at over US$2.08 billion and is growing due to the worldwide acceptance of oriental herbal and alternative medicine;
  • South Korea accounts for more than half of the world’s ginseng consumption by value, or US$1.14 billion;
  • China accounts for 44,749 tons, more than half of the 80,080 tons of ginseng produced globally, while South Korea accounts for 27,480 tons, Canada 6,486 tons, and the United States 1,054 tons, etc.

According to industry reports, the growing acceptance of oriental herbal medicine, alternative medicine and healthy foods is driving the demand for ginseng extracts and products with an estimated global market value of over $2.08 billion. US dollars.

Ginseng is derived from the plant ginseng, which is considered an adaptogenic herb. These are commonly referred to as adaptogens, which resist biological, physical and chemical stress and increase overall vitality. It is famous for its health benefits – keeping consumers fit, healthy with a long life.

Hyouk Kim, Director of Korean Agro Trade Center Dubai, says, “Ginseng is an essential part of the Korean diet and lifestyle. It keeps a person fit, energetic and its medicinal value helps fight cancer, diabetes and other diseases and prolong lifespan.

“The world can benefit from the Korean way of life, food, diet, including ginseng. At Expo 2020, we promote the best aspect of Korean soft power, including Korean cuisine, Korean culture and our healthy lifestyle which could help people live a long and healthy life. We believe the world would be a better place with Korean food that improves life and helps people live longer.

“Through our activities, we want to spread these health benefits to everyone.”

The roots of Panax quinquefolius and Panax ginseng are generally known as “ginseng”, which is a valuable and important folk medicine in Asian countries, such as Korea, Japan and China. Ginseng roots are well known for their high content of phenolic compounds, ginsenosides and saponins, such as carotenoids and carbohydrates.

“Ginseng can help stimulate physical and mental activity in people who feel weak and tired. A study of 21 men and 69 women found that ginseng showed good results in helping people with chronic fatigue,” a report published by Medical News Today, noted.

Another study also found that ginseng helped reduce cancer-related fatigue. However, researchers have only documented the energizing effects of ginseng in people currently on treatment, he said.

“The global market for ginseng, including ginseng root and processed products, is estimated at $2,084 million,” says another report from the National Center for Biotechnology Information (NCBI), part of the United States National Library of Medicine.

“In particular, the size of the Korean market is US$1.14 billion, which makes Korea the largest retailer in the world. As interest in alternative medicine and healthy foods increases globally, the consumer market for feature-rich ginseng and processed products is expected to grow continuously.

Among the US$1.14 billion domestic ginseng market in Korea, red ginseng has the strongest market presence with a value of US$671 million, fresh ginseng worth US$292 million US$157 million white ginseng product and US$20 million taekuksam.

The history of ginseng use began 4,500 years ago and its first record was written 2,000 years ago, according to NCBI research. Ginseng has been one of the most important commercial products for health care and disease treatment in Asia, including Korea and China, and is currently distributed in 35 countries around the world.

Asian countries such as South Korea and China have a long history of ginseng consumption that dates back 1,000 years, according to the NCBI. “Looking at each country’s consumption pattern, while ginseng root product is mainstream in China and Taiwan, it is consumed in solid type such as capsule, tablet, etc. and drink nutritious tonic in addition to the ginseng root product in Canada, United States, Japan, etc.,” he says.

China accounts for 44,749 tons, more than half of the 80,080 tons of ginseng produced globally, while South Korea accounts for 27,480 tons, ranking 2nd, Canada 6,486 tons, and the USA 1 054 tons, etc. The total production of these four countries is 79,769 tons, or approximately 99% of the world production of ginseng (80,080 tons).

“According to the characteristics of consumers in each country, ginseng can be used for agricultural products, foods, dietary supplements, health supplements and medicines, etc.,” the NCBI report said.

According to research, ginseng roots contain a distinct variety of saponin known as ginsenosides which exhibit health benefits including antihypertensive, antioxidant, insulin resistance reducing, antitumor, immunomodulatory, chemoprotectants, phytoestrogens and antidiabetics. Ginseng extract is classified as fresh ginseng, red ginseng and white ginseng, depending on processing measures.

“Additionally, with the ever-changing socio-economic status, consumers are now more concerned about their health. Consumption of plant-based products with considerably fewer side effects is gaining immense recognition in recent years. Furthermore, it has wide reach in functional foods and dietary supplements that may provide health benefits beyond traditional nutrients,” according to a study by Grand View Research.

“In recent years, there has been growing interest in the role of ginseng as a functional food or nutraceutical with increasing market value. The bioactive compounds and extracts isolated from ginseng are considered for their numerous health-promoting activities, such as anti-tumor, antioxidant, skin-protective, anti-hyperglycemic, anti-infective, anti-cancer, anti-osteoporotic and respiratory properties.

Ginseng May Improve Thinking Processes and Cognition, Says Report Medical News Today. A recent report examined the accuracy of this claim.

“This report concluded that, based on human studies, components of ginseng have the potential to treat certain cognitive deficits. These studies have shown that ginseng may reduce oxidative stress, which may lead to improved cognitive function,” the report states.

A 2016 study on the effects of Korean red ginseng on cognitive function in patients with Alzheimer’s disease also showed promise.

“A 2014 study suggests that ginseng may help lower blood sugar and help treat diabetes. Ginsenosides may affect insulin production in the pancreas and improve insulin resistance using other mechanisms.

“Another 2014 study showed similar benefits of ginseng in lowering blood sugar. Some participants took 2.7 grams of fermented red ginseng each day, while others took a placebo. Researchers found ginseng to be effective in lowering blood sugar and increasing insulin levels after a meal compared to placebo,” Medical News Today reports.

Further clinical studies and standardization of ginseng root are needed to determine if ginseng is a possible complementary therapy for diabetes. Researchers also need to study what specific doses might be effective.

-Ends-

About a T center

Korea Agro-Fisheries and Food Trade Corp. (aT Center) is a fully government-funded enterprise responsible for agricultural marketing services and international trade since its incorporation in 1967. aT Center provides support services to the Korean agricultural industry through marketing activities and export. agent functions for a large number of small and medium-sized agro-processors.

aT Center also provides various agricultural trade information to domestic exporters and overseas buyers. To support the development of foreign markets, aT Center has offices (Overseas Agro-Trade Center) in Beijing, Shanghai, Qingdao, Chengdu, Dalian, Hong Kong, Jakarta, Hanoi, Ho Chi Minh, Bangkok, Dubai, Paris, New York , Los Angeles, Tokyo, Osaka and Vladivostok. The Web: http://www.at.or.kr

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