[논문]The Global Ginseng Market and Korean Ginseng

Baeg, In-Ho

doi:10.23076/jgc.2022.4.001

The Global Ginseng Market and Korean Ginseng 원문보기

인삼문화 = Journal of ginseng culture, v.4, 2022년, pp.1 - 12

Baeg, In-Ho (Korean Ginseng Research Institute, Korea Ginseng Corporation)

Abstract ▼ AI-Helper

Ginseng and ginseng products are distributed in approximately 190 countries around the world. The size of the ginseng market varies by country and there are no accurate statistics on production and distribution amounts per country. Therefore, it is difficult to make predictions about the global ginseng market. Governments and ginseng trading companies are in need of comprehensive data that shows the current status of the ginseng market to help them establish effective import, export, and sales and marketing policies. To addressthis need, this study examines the approximate size of the world ginseng market based on estimates of recent quantities of ginseng distributed in specific country as well as production by major ginseng producing countries. In 2018, global ginseng production was about 86,223 tons based on fresh ginseng. China produced 50,164 tons, South Korea 23,265 tons, Canada 11,367 tons, the US 1,285 tons, Japan 30 tons, and other countries a combined 112 tons. The value of global ginseng production is estimated to be approximately $5,900 million, with $2,870 million (48.6%) in China, $2,489 million (42.2%) in South Korea, $478 million (8.1%) in Canada, $54 million (0.9%) in the USA, $4 million (0.1%) in Japan, and $5 million (0.1%) in other countries. The value of ginseng products consumed for the last five yearsin South Korea was $1,162 million in 2014, $1,280 million in 2015, $1,548 million in 2016, $1,638 million in 2017, and $1,762 million in 2018, showing that the market has been increasing in recent years. In particular, the Korea Ginseng Corporation (KGC), the biggest global ginseng company in South Korea, recorded sales of $1,207 million in 2018. This represents about 69% of the South Korean ginseng market, and about 20% of global production. Since interest in alternative medicine and health food among consumers is increasing globally, the market for ginseng is expected to expand into the future.

주제어

표/그림 (9)

그림 Fig. 1. The world ginseng cultivation area
표 Table 1. Estimated world ginseng production (based on fresh ginseng)
표 Table 2. Estimated worldwide ginseng production market as of 2018
그림 Figure 2. Distribution of global exports and imports of root ginseng (2081) Source: Ginseng roots (HS:121120) Product Trade, Exporters and Importers, 2020. https://oec.world/en/profile/hs92/ginseng-roots?redirect=true
표 Table 3. Estimated value of exports and imports of ginseng root in 2018 (in USD 1,000)
표 Table, 4. Market size of each ginseng type in South Korea (2018)
그림 Fig. 3. Recent market trends for ginseng sales in South Korea.
그림 Fig. 4. KGC's annual sales, 2014 to 2018
그림 Fig. 5. KGC's "Jeong Kwan Jang" stores. (From left; Duty-free shop, Department store, Hypermarket, Ginseng specialty store)

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