Recently, the State Administration for Market Regulation, along with the National Health Commission and the National Administration of Traditional Chinese Medicine, released three “Health Food Raw Material Catalogs”, which include ginseng, American ginseng, and ganoderma. Data shows that the market size of ginseng in China is expected to reach RMB 35 billion yuan (USD $4.93 billion) in 2023, with online channels accounting for a rapidly increasing proportion, rising from 1.5% in 2016 to 15% in 2022. The market prospects for ginseng-based foods, health products, and medicines are very promising.
Among domestic listed companies, Yisheng Pharmaceutical has more than 2,400 acres of ginseng cultivation area. By the end of 2022, the company had developed 99 ginseng-based food and health products. In August 2023, Jilin Aodong Medicine, after strict evaluation procedures, obtained the “Quality Ginseng” certification for its high-quality ginseng base, becoming one of the first certified enterprises for quality Chinese medicinal herb ginseng products. (Source: finance.sina)
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