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1455808

全球高麗紅參市場 - 2024-2031

Global Korean Red Ginseng Market - 2024-2031

出版日期: 2024年03月26日 | 出版商:

DataM Intelligence | 英文 213 Pages | 商品交期: 約2個工作天內

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簡介目錄

概述

2023年，全球韓國紅參市場達到8,021萬美元，預估至2031年將達到1,1941萬美元，2024-2031年預測期間CAGR為5.1%。

由於消費者對整體健康解決方案的偏好，自然健康療法的趨勢日益成長。韓國紅參素以促進活力和整體健康而聞名，隨著消費者尋求合成補充劑的替代品，市場需求不斷成長。市場參與者正在投資行銷活動，以在競爭激烈的市場環境中提高人們對韓國紅參健康益處的認知。

例如，2022年12月28日，韓國人參公司（KGC）的旗艦紅參品牌正官莊在網路市場推出了首款補品－韓國紅參補品24/7。這款活力飲料代表了對 CheongKwanJang 增強生命力的韓國紅參滋補品品牌的現代重新詮釋。

北美的健康趨勢激發了人們對韓國紅參作為支持免疫健康、能量水平和壓力管理的自然療法的興趣。市場參與者正在利用這一趨勢，將韓國紅參定位為優質保健品，其功效已得到科學研究的證實。北美市場參與者正在創新和多樣化其韓國紅參產品，以滿足不同消費者的喜好和需求。

動力學

人口老化擴大

隨著人口老化的成長，對促進活力、能量和整體健康的產品的需求相應激增。韓國紅參以其恢復活力的特性和解決年齡相關問題的傳統用途而聞名，它完全有能力抓住市場日益成長的需求。市場參與者可以調整行銷策略，以滿足老齡化人口的需求和偏好，並推動市場成長。

根據世界衛生組織（WHO）2022年10月1日預測，到2030年，全球大約每6個人中就有1人年齡在60歲或以上。在此期間，該年齡層人口比例預計將從2020年的10億上升至14億。此外，到 2050 年，全球 60 歲及以上人口預計將加倍，達到 21 億。

慢性病上升

在醫療保健專業人員、媒體報告和教育活動的推動下，隨著消費者對韓國紅參健康益處的認知不斷提高，對有助於減輕慢性病相關風險因素的產品的需求也相應增加。市場參與者可以利用這一趨勢，透過有針對性的行銷和教育活動來強調韓國紅參的預防和治療特性。

根據美國疾病管制與預防中心 (CDC) 2023 年 5 月的估計，目前美國每 10 名成年人中就有 6 人患有慢性疾病，例如癌症、心臟病或糖尿病。這些慢性病是美國最主要的死亡原因之一，光是心臟病和癌症就約佔所有死亡人數的 38%。

日益嚴格的法規

日益嚴格的監管要求意味著韓國紅參市場的製造商和供應商的合規成本更高。這可能包括與獲得認證、執行品質控制措施以及遵守標籤和包裝標準相關的費用。隨著合規成本的上升，可能會對產品價格產生上行壓力，這可能會降低市場競爭力和消費者的負擔能力。

嚴格的法規為希望進入韓國紅參市場的新市場參與者設置了進入障礙。對於小型企業或新創公司來說，遵守複雜的監管框架可能具有挑戰性，尤其是在具有不同要求的不同地區或國家。因此，這限制了市場競爭和創新，因為能夠有效應對監管環境的參與者越來越少。

例如，據韓國法律翻譯中心稱，修訂後的規定第3條概述了報告要求對人參品種製造企業的適用性。本法頒布後，當軍長收到有關此類業務或其中任何變更的報告時，這些規定即生效。

同樣，第四條涉及企業實體地位繼承的報告要求的適用性，而第五條則涉及自查企業的變更報告要求。這些修訂後的規定在該法頒布後有關當局收到有關這些事項的報告後生效。此外，根據附錄（第19490號法案，2023年6月20日），該法案將於頒布之日起六個月後強制執行。

Increasing trend towards natural health remedies driven by consumer preferences for holistic wellness solutions. Korean red ginseng, with its reputation for promoting vitality and overall well-being, is witnessing rising demand in the market as consumers seek alternatives to synthetic supplements. Market players are investing in marketing campaigns to raise awareness about the health benefits of Korean red ginseng in a competitive market landscape.

For instance, on December 28, 2022, CheongKwanJang, the flagship red ginseng brand of Korea Ginseng Corp. (KGC), launched its inaugural tonic, Korean Red Ginseng Tonic 24/7, in the online market. This revitalizing beverage represents a modern reinterpretation of CheongKwanJang's life-enhancing Korean Red Ginseng Tonic brand.

The health and wellness trend in North America is spurring interest in Korean red ginseng as a natural remedy for supporting immune health, energy levels, and stress management. Market players are capitalizing on this trend by positioning Korean red ginseng as a premium health supplement with proven benefits supported by scientific research. Market players in North America are innovating and diversifying their Korean red ginseng product offerings to cater to diverse consumer preferences and needs.

Dynamics

Expanding Aging Population

As the aging population grows, there is a corresponding surge in demand for products that promote vitality, energy, and overall wellness. Korean red ginseng, renowned for its rejuvenating properties and traditional use in addressing age-related issues, is well-positioned to capture this heightened demand in the market. Market players can tailor their marketing strategies to resonate with the needs and preferences of the aging demographic, and drive market growth.

According to the World Health Organization (WHO) on October 1, 2022, projected that by 2030, approximately one out of every six individuals worldwide will be aged 60 years or older. During this period, the proportion of the population in this age group is expected to rise from 1 billion in 2020 to 1.4 billion. Furthermore, by 2050, the global population of individuals aged 60 years and above is anticipated to double, reaching 2.1 billion.

Rising Chronic Diseases

As awareness of the health benefits of Korean red ginseng spreads among consumers, driven by healthcare professionals, media coverage, and educational campaigns, there is a corresponding increase in demand for products that can help mitigate the risk factors associated with chronic diseases. Market players can capitalize on this trend by emphasizing the preventive and therapeutic properties of Korean red ginseng through targeted marketing and educational initiatives.

According to estimates from the Centers for Disease Control and Prevention (CDC) in May 2023, six out of every ten adults in the United States are currently affected by a chronic disease, such as cancer, heart disease, or diabetes. These chronic conditions rank among the top causes of mortality in the United States, with heart disease and cancer alone responsible for approximately 38 percent of all deaths.

Growing Stringent Regulations

Increasing regulatory requirements entail higher compliance costs for manufacturers and suppliers in the Korean red ginseng market. This can include expenses related to obtaining certifications, conducting quality control measures, and adhering to labeling and packaging standards. As compliance costs rise, it can exert upward pressure on product prices, potentially reducing market competitiveness and consumer affordability.

Stringent regulations pose barriers to entry for new market players looking to enter the Korean red ginseng market. Compliance with complex regulatory frameworks, especially in different regions or countries with varying requirements, can be challenging for smaller businesses or startups. Consequently, this limits market competition and innovation, as fewer players can navigate the regulatory landscape effectively.

For instance, according to the Korea Law Translation Centre, Article 3 of the amended provisions outlines the applicability of reporting requirements for ginseng varieties manufacturing businesses. These provisions come into effect when the head of a Si/Gun receives a report on such businesses or any changes therein after the enactment of this Act.

Similarly, Article 4 addresses the applicability of reporting requirements for succession to the status of a business entity, while Article 5 pertains to reporting changes by self-inspection enterprises. These amended provisions take effect when the relevant authorities receive reports on these matters following the enactment of the Act. Additionally, according to the Addenda (Act No. 19490, Jun. 20, 2023), the Act will be enforced six months after its promulgation date.

Segment Analysis

The global Korean red ginseng market is segmented based on form, application, distribution channel, and region.

Wide Availability and Consumption and Long Shelf Life of Onions

Onions holds the largest share of the global market. Onions are the most widely consumed vegetables globally, with a presence in various cuisines and culinary traditions worldwide. This widespread consumption contributes to the significant market share held by the onions segment. The high concentration of flavonoids in onions makes them highly sought after by health-conscious consumers, further boosting segment growth.

For instance, according to the U.S. National Onion Association, global onion production is estimated to reach around 105 billion pounds annually. On average, each person worldwide consumes approximately 13.67 pounds of onions per year. Notably, Libya stands out with the highest onion consumption, boasting an impressive average per capita intake of 66.8 pounds.

Onions have a relatively long shelf life and can be stored for extended periods under proper conditions. This characteristic makes them a preferred choice for consumers and food manufacturers alike, ensuring consistent demand for the onions segment. Market players are capitalizing on the popularity of onions by developing value-added products such as onion powder, flakes, and extracts, further contributing to the market dominance of the onions segment within the flavonoid vegetables market.

Geographical Penetration

Growing Consumer Demand and Health and Wellness Trends in North America

North America dominates the global Korean Red Ginseng market. North America has a large and diverse consumer base with a growing preference for natural health remedies and supplements. The increasing awareness of the health benefits of Korean red ginseng, coupled with rising health consciousness, boosts demand for such products in the region's Korean red ginseng market.

Consumers are increasingly seeking products that promote vitality, boost immunity, and support overall well-being, aligning with the perceived benefits of Korean red ginseng. Market players in North America are known for their innovation and product development capabilities. They continually introduce new and diverse Korean red ginseng formulations, including beverages, dietary supplements, skincare products, and functional foods, catering to various consumer preferences and lifestyles.

COVID-19 Impact Analysis

During the pandemic, disruptions in transportation, logistics, and trade restrictions have affected the supply chain of Korean red ginseng, leading to delays in production, distribution, and procurement of raw materials. These disruptions have resulted in sporadic shortages and fluctuations in supply, impacting market stability contributing to price volatility, and restrained market growth.

With lockdowns and social distancing measures in place, there has been a surge in online shopping and e-commerce adoption. Market players have capitalized on this trend by enhancing their online presence and expanding e-commerce channels for Korean red ginseng products. This shift towards online retailing has helped maintain market continuity amidst physical retail closures and restrictions.

Russia-Ukraine War Impact Analysis

The conflict disrupted trade routes and transportation networks, leading to delays in the import and distribution of Korean red ginseng products. These disruptions destabilized the market, affecting availability and contributing to price fluctuations. Market players adjusted pricing strategies to mitigate the impact on consumer purchasing power and maintain market competitiveness.

Russia and Ukraine served as significant export markets for Korean red ginseng. Trade disruptions, including tariffs and import bans, and revenue for Korean red ginseng exporters, constrain market growth opportunities. The conflict created uncertainty and dampened consumer confidence in affected regions, leading to cautious spending behavior. This reluctance to purchase non-essential goods, including Korean red ginseng products, contributed to a decline in market demand.

By Form

Capsule
Powder
Liquid
Others

By Application

Immune System
Diabetes
Heart Health
Impotence
Others

By Distribution Channel

Online
Offline

By Region

North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- UK
- France
- Italy
- Russia
- Rest of Europe
South America
- Brazil
- Argentina
- Rest of South America
Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
Middle East and Africa

Key Developments

On March 14, 2024, Korea Ginseng Corporation (KGC)-)-owned brand Cheong Kwan Jang announced a strategic broadening of its red ginseng snacks portfolio to capture the interest of young consumers amidst a burgeoning retro trend.
On March 8, 2022, Korea Ginseng Corporation (KGC), recognized as the leading ginseng brand globally, introduced its KORESELECT product line to the U.S. market. The premium supplements, exclusively featuring six-year-grown red ginseng, are being showcased at the Natural Products Expo West 2022. The KORESELECT range offers plant-based products that harness the time-tested benefits of red ginseng, providing a natural solution for essential aspects of health and wellness.
On April 15, 2021, Youguth, a South Korean probiotic supplement brand, introduced its fermented red ginseng with a probiotic supplement for immune health in Singapore. The brand aims to leverage the gifting culture to boost sales and promote awareness of the product's health benefits.

Competitive Landscape

The major global players in the Korean red ginseng market include Korea Ginseng Corp., Daedong Korea Ginseng Co., Ltd., Korea Ginseng Bio-Science, KT&G Corp, The Himalayan Organics, Auragin, Solgar Inc., aSquared Brands, LLC, Swanson Vitamins, and Prominent Nutrition.

Why Purchase the Report?

To visualize the global Korean red ginseng market segmentation based on form, application, distribution channel, and region, as well as understand critical commercial assets and players.
Identify commercial opportunities by analyzing trends and co-development.
Excel data sheet with numerous Korean red ginseng market-level data points with all segments.
PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
Product mapping available as Excel consisting of critical products of all the major players.

The global Korean red ginseng market report would provide approximately 62 tables, 58 figures, and 213 Pages.

Target Audience 2023

Manufacturers/ Buyers
Industry Investors/Investment Bankers
Research Professionals
Emerging Companies

1.Methodology and Scope

1.1.Research Methodology
1.2.Research Objective and Scope of the Report

2.Definition and Overview

3.Executive Summary

3.1.Snippet by Form
3.2.Snippet by Application
3.3.Snippet by Distribution Channel
3.4.Snippet by Region

4.Dynamics

4.1.Impacting Factors
- 4.1.1.Drivers
  - 4.1.1.1.Expanding Aging Population
  - 4.1.1.2.Rising Chronic Diseases
- 4.1.2.Restraints
  - 4.1.2.1.Growing Stringent Regulations
- 4.1.3.Opportunity
- 4.1.4.Impact Analysis

5.Industry Analysis

5.1.Porter's Five Force Analysis
5.2.Supply Chain Analysis
5.3.Pricing Analysis
5.4.Regulatory Analysis
5.5.Russia-Ukraine War Impact Analysis
5.6.DMI Opinion

6.COVID-19 Analysis

6.1.Analysis of COVID-19
- 6.1.1.Scenario Before COVID
- 6.1.2.Scenario During COVID
- 6.1.3.Scenario Post COVID
6.2.Pricing Dynamics Amid COVID-19
6.3.Demand-Supply Spectrum
6.4.Government Initiatives Related to the Market During Pandemic
6.5.Manufacturers Strategic Initiatives
6.6.Conclusion

7.By Form

7.1.Introduction
- 7.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 7.1.2.Market Attractiveness Index, By Form
7.2.Capsule*
- 7.2.1.Introduction
- 7.2.2.Market Size Analysis and Y-o-Y Growth Analysis (%)
7.3.Powder
7.4.Liquid
7.5.Others

8.By Application

8.1.Introduction
- 8.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 8.1.2.Market Attractiveness Index, By Application
8.2.Immune System*
- 8.2.1.Introduction
- 8.2.2.Market Size Analysis and Y-o-Y Growth Analysis (%)
8.3.Diabetes
8.4.Heart Health
8.5.Impotence
8.6.Others

9.By Distribution Channel

9.1.Introduction
- 9.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 9.1.2.Market Attractiveness Index, By Distribution Channel
9.2.Online*
- 9.2.1.Introduction
- 9.2.2.Market Size Analysis and Y-o-Y Growth Analysis (%)
9.3.Offline

10.By Region

10.1.Introduction
- 10.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 10.1.2.Market Attractiveness Index, By Region
10.2.North America
- 10.2.1.Introduction
- 10.2.2.Key Region-Specific Dynamics
- 10.2.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 10.2.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 10.2.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 10.2.6.Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 10.2.6.1.U.S.
  - 10.2.6.2.Canada
  - 10.2.6.3.Mexico
10.3.Europe
- 10.3.1.Introduction
- 10.3.2.Key Region-Specific Dynamics
- 10.3.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 10.3.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 10.3.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 10.3.6.Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 10.3.6.1.Germany
  - 10.3.6.2.UK
  - 10.3.6.3.France
  - 10.3.6.4.Italy
  - 10.3.6.5.Russia
  - 10.3.6.6.Rest of Europe
10.4.South America
- 10.4.1.Introduction
- 10.4.2.Key Region-Specific Dynamics
- 10.4.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 10.4.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 10.4.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 10.4.6.Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 10.4.6.1.Brazil
  - 10.4.6.2.Argentina
  - 10.4.6.3.Rest of South America
10.5.Asia-Pacific
- 10.5.1.Introduction
- 10.5.2.Key Region-Specific Dynamics
- 10.5.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 10.5.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 10.5.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 10.5.6.Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 10.5.6.1.China
  - 10.5.6.2.India
  - 10.5.6.3.Japan
  - 10.5.6.4.Australia
  - 10.5.6.5.Rest of Asia-Pacific
10.6.Middle East and Africa
- 10.6.1.Introduction
- 10.6.2.Key Region-Specific Dynamics
- 10.6.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 10.6.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 10.6.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel

11.Competitive Landscape

11.1.Competitive Scenario
11.2.Market Positioning/Share Analysis
11.3.Mergers and Acquisitions Analysis

12.Company Profiles

12.1.Korea Ginseng Corp.*
- 12.1.1.Company Overview
- 12.1.2.Product Portfolio and Description
- 12.1.3.Financial Overview
- 12.1.4.Key Developments
12.2.Daedong Korea Ginseng Co., Ltd.
12.3.Korea Ginseng Bio-Science
12.4.KT&G Corp
12.5.The Himalayan Organics
12.6.Auragin
12.7.Solgar Inc.
12.8.aSquared Brands, LLC
12.9.Swanson Vitamins
12.10.Prominent Nutrition

LIST NOT EXHAUSTIVE