What this market covers
Root of the ginseng plant sold fresh, dried or as processed products for tonics, foods and supplements. Buyers are supplement makers, food firms and herbal medicine producers.
Typical segments
- Asian ginseng
- American ginseng
- Red ginseng
- Ginseng tea and tonics
Why this market is moving now
- World trade shrank 37% from 2019 to 2024, a direct read on cross-border demand.
- Singapore is gaining ground: its exports rose 136% from 2019 to 2024, the fastest among the ten largest exporters.
Key figures
Global figures for this market, with the year each one describes. Use Cite to copy a reference to this page.
| Figure | Value | Year | Cite |
|---|---|---|---|
| World exports of ginseng (HS 121120) were worth $303.7 million in 2024. | 303.7 USD million | 2024 | |
| World exports were 37% lower in 2024 than in 2019 ($481.1 million), calculated from the annual totals. | -37 % since 2019 | 2024 | |
| China was the largest exporter in 2024, with 31% of world exports ($95.4 million). | 31 % of world exports | 2024 | |
| The three largest exporters, China, South Korea and Canada, shipped 78% of world exports in 2024. | 78 % of world exports | 2024 | |
| China was the largest importer in 2024, buying $114.8 million, or 38% of world imports. | 38 % of world imports | 2024 | |
| 8 countries exported more than $1 million of this product in 2024. | 8 countries | 2024 | |
| The average world export price was about $41.68 per kilogram in 2024, calculated from value and weight. | 41.68 USD per kg | 2024 | |
| Countries exported 7.3 thousand tonnes of this product in 2024. | 7.3 thousand tonnes | 2024 | |
| Among the ten largest exporters, Singapore grew fastest, with exports up 136% from 2019 to 2024. | +136 % since 2019 | 2024 | |
| Researchers worldwide published 740 papers on ginseng in 2025. | 740 papers | 2025 |
Calculated figures (shares, changes and prices per kilogram) are plain arithmetic on the reported values. Read how we work.
Buyers and suppliers
Who buys
- Supplement makers
- Food and beverage firms
- Herbal medicine producers
Largest exporting countries, 2024
Largest importing countries, 2024
What the full report covers
- 01Executive summary
The answer in one page: size, direction and what moves it - 02Market definition and scope
What is in and out of the global market - 03Global market size, 2021 to 2025
Historical series and growth rates - 04Countries and regions
Demand, supply and trade by country and region - 05Outlook to 2031
Base, low and high scenarios with stated assumptions - 06Rules, policy and deadlines
Regulation and programmes that change demand - 07Drivers and barriers
What accelerates or slows adoption, by customer segment - 08Prices, costs and margins
Unit economics where public data allows - 09Competitive landscape
8 to 12 company profiles with recent moves - 10Opportunities and risks
For new entrants, suppliers and investors - 11Method and assumptions
How every figure was built
Included with the full report
- PDF report, 40 to 60 pages
- Excel data pack
- Ready-to-use charts
- Method note and assumptions
- Written to order in 5 working days
Frequently asked questions
How big is the global ginseng market?
There is no single official market total. World exports of HS 121120 reached $303.7 million in 2024, a direct measure of cross-border trade.
Which countries export the most ginseng?
China led world exports in 2024 with 31% of the total, followed by South Korea, Canada and the United States.
Which countries import the most ginseng?
China was the largest importer in 2024, followed by Hong Kong, Japan and Taiwan.
Is world trade in ginseng growing?
World exports were 37% lower in 2024 than in 2019.
What is the average export price of ginseng?
Dividing world export value by weight gives about $41.68 per kilogram in 2024.
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