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Korean Red Ginseng Market Segmentation and Growth Opportunities through 2024-2031 | Korea Ginseng Corp., Daedong Korea Ginseng Co., Ltd., Korea Ginseng Bio-Science.
Korean Red Ginseng Market || 2024-2031
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What is the projected growth rate (CAGR) of the Global Korean Red Ginseng market from 2024 to 2031, and what is the market value expected to change by 2031?
Korean Red Ginseng Market reached US$ 754.12 million in 2023 and is expected to reach US$ 1256.86 million by 2031, growing with a CAGR of 5.1% during the forecast period 2024-2031.
The Korean Red Ginseng market is centered around the production and consumption of Panax ginseng, specifically the red variety, which is known for its health benefits. It is widely used for boosting immunity, enhancing energy, improving mental clarity, and reducing stress. The market is driven by growing consumer interest in natural wellness products and traditional herbal remedies, with applications in food, beverages, and supplements.
Key Developments:
On March 14, 2024, Cheong Kwan Jang, a brand owned by Korea Ginseng Corporation (KGC), announced an exciting expansion of its red ginseng snack offerings. The move is aimed at attracting younger consumers, particularly those drawn to the growing retro trend. This strategic broadening reflects the brand's efforts to innovate and connect with a new generation of health-conscious individuals.
On March 8, 2022, KGC, the world's leading ginseng brand, introduced its premium KORESELECT product line to the U.S. market at the Natural Products Expo West. The KORESELECT range is distinguished by its exclusive use of six-year-grown red ginseng and offers a variety of plant-based supplements designed to tap into the well-established health benefits of red ginseng. These products present a natural and effective solution for supporting overall wellness.
List of the Key Players in the Korean Red Ginseng Market:
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.
Research Process:
Both primary and secondary data sources have been used in the global Korean Red Ginseng Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.
Segment Covered in the Korean Red Ginseng Market:
By Form: Capsule, Powder, Liquid, Others.
By Application: Immune System, Diabetes, Heart Health, Impotence, Others.
By Distribution Channel: Online, Offline.
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Regional Analysis:
The global Korean Red Ginseng Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Korean Red Ginseng Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.
**The full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted**
Chapter Outline:
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: key insights, key emerging trends, etc.
Chapter 3: Manufacturers competitive analysis, detailed analysis of New Zealand Food Testing and Certification manufacturers competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.
Chapter 5 & 6: Revenue of New Zealand Food Testing and Certification in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 10: The main points and conclusions of the report.
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Frequently Asked Questions
What is the expected growth rate of the global market for the forecast period?
What are the key driving factors that are responsible to shape the fate of the Korean Red Ginseng market during the forecast period?
What will be the overall size of the market during the analysis period?
What are the prominent market trends which influence the development of the Korean Red Ginseng market across various regions?
Who are the key market players and the market strategies that have helped them to secure the leading position in the global market?
What are the challenges and threats that are likely to act as a barrier to the growth of the Korean Red Ginseng market?
What are the major opportunities that the companies can get to attain success in the world?
Contact Us -
Company Name: DataM Intelligence
Contact Person: Sai Kiran
Email: Sai.k@datamintelligence.com
Phone: +1 877 441 4866
Website: https://www.datamintelligence.com
About Us -
DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries; catering to the key business research needs that influence the growth trajectory of our vast clientele.
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