Korean outfit remains atop the list for a decade
Korea Ginseng Corporation (KGC) has topped the podium in the world ginseng market for the previous 10 years in succession, according to Euromonitor on Jan. 5.
In its annual International Health and Nutrition Survey report, Euromonitor said that last year’s ginseng market amounted to $2.47 billion across the globe.
Among them, KGC carved out 41.9 percent of the market with sales of $1.04 billion. It was the only ginseng corporation to surpass the $1 billion mark in the 2022 top line.
KGC first became a global champion in 2013 with a yearly turnover of $731 million and has remained atop the list for the past 10 years.
For over 120 years, KGC has provided its ginseng products under the brand name of CheongKwanJang.
Ginseng has been used widely as an herbal remedy in Asia for the past two millenniums. It is still one of the top immunity ingredients in the Asia-Pacific region.
Ginseng’s reputation expands to Western society, too, as it comprises around half of the world’s total immunity supplement sales.
“The report of Euromonitor confirmed once again that KGC is the leading brand for ginseng products,” a KGC official said.
“Down the road, we will put forth more efforts to globalize the ginseng products so that people across the world will be able to enjoy their benefits.”