Ginseng extracts are widely applied in the health care industry including health care food for anti-fatigue, anti-aging and brain tonic and the beauty and cosmetics industry including products for removing beverage, reducing wrinkles, activating skin cells and improving skin elasticity as well as the food additive. In recent years, the demand in international market increases continuously with an annual growth rate of 20%. The number of ginseng extract manufacturers entering international market is less due to the growing demand and technical barriers. Meanwhile, the present hot-sale products are panaxoside with a specification of 5% to 15%.
Major export markets of China ginseng extracts include the U.S.A., Europe and Southeast Asia, of which Europe is the most stringent in product requirements and the largest in demand volume. The ginseng extract import of Europe transfers from common types to low pesticide residue types in accordance with EP standards while it is small in number of domestic enterprises meeting this requirement. Therefore, Chinese enterprises need to improve the technology to enter larger international markets.