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The release of the "Healthy China 2030" Plan Outline in 2016 marked the elevation of "Healthy China" to a national strategy
.
With the popularization of national health and the improvement of health awareness, the consumption of ginseng products by young people aged 19-39 is growing rapidly, which will become a new economic growth point
for the ginseng industry.
.
With the popularization of national health and the improvement of health awareness, the consumption of ginseng products by young people aged 19-39 is growing rapidly, which will become a new economic growth point
for the ginseng industry.
First, the pharmaceutical and food dual-use products have ushered in rapid growth
Figure 1: Top 10 varieties with the fastest growth in demand for medicine and food from 2008 to 2019
From the perspective of single products: in the past 10 years, among the varieties of Chinese medicinal materials, the demand growth rate of dual-use varieties of medicine and food has contributed more than 80%; Among the top 10 varieties with the fastest growth in demand, the demand for more than 10,000 tons accounts for more than 80%.
Among them, the annual consumption of Panax notoginseng has increased from less than 8,500 tons to nearly 30,000 tons at the peak, tripling, becoming a hot variety of health care in the past 10 years, but in the past five years, the consumption of Panax notoginseng has declined significantly; The consumption of ginseng has also maintained a growth rate of more than 72% and continues to grow; American ginseng demand remained stable
.
Among them, the annual consumption of Panax notoginseng has increased from less than 8,500 tons to nearly 30,000 tons at the peak, tripling, becoming a hot variety of health care in the past 10 years, but in the past five years, the consumption of Panax notoginseng has declined significantly; The consumption of ginseng has also maintained a growth rate of more than 72% and continues to grow; American ginseng demand remained stable
.
Second, the number of ginseng producing entities has increased significantly in the past 10 years
Figure 2: Growth of domestic participation in industrial entities from 1979 to 2022
From the perspective of physical growth: from 1979 to September 2022, the cumulative number of ginseng production and processing entities increased by 7,764, mainly production bases and cooperatives
.
Wangou Forest Farm in Jiangyuan District, Baishan City, Jilin Province was the first registered ginseng planting base in China, followed by the Shangying Forestry Bureau of Shulan County and Dayangcha Forest Farm
of Jiangyuan District.
With the high price of ginseng and the implementation of targeted poverty alleviation policies, the construction of ginseng base entered a period of
rapid growth from 2011 to 2018.
.
Wangou Forest Farm in Jiangyuan District, Baishan City, Jilin Province was the first registered ginseng planting base in China, followed by the Shangying Forestry Bureau of Shulan County and Dayangcha Forest Farm
of Jiangyuan District.
With the high price of ginseng and the implementation of targeted poverty alleviation policies, the construction of ginseng base entered a period of
rapid growth from 2011 to 2018.
Third, the rapid development of FMCG has brought about a new pattern of participation consumption
Figure 3: Distribution of domestic consumption channels of Chinese herbal medicines in 2020
From the perspective of demand channels: as shown in Figure 3, the clinical channel of proprietary Chinese medicines, OTC channels of proprietary Chinese medicines and the channels of Chinese medicine pieces are still the three major channels for the demand for raw materials of traditional Chinese medicine, but the total proportion has slipped to 65.
28%; E-commerce, offline food ingredients and Chinese veterinary medicine consumption channels have risen strongly; Extracts, traditional health products and export channels have declined significantly, resulting in major changes in the demand channels for ginseng products, and people's daily demand for FMCG products has grown
rapidly.
28%; E-commerce, offline food ingredients and Chinese veterinary medicine consumption channels have risen strongly; Extracts, traditional health products and export channels have declined significantly, resulting in major changes in the demand channels for ginseng products, and people's daily demand for FMCG products has grown
rapidly.
Fourth, the historical price has gone up and down but the cycle is long
Figure 4: Changes in domestic ginseng prices from 2004 to 2022
According to the statistics of big data of the traditional Chinese medicine industry of Tiandi Yuntu, from 2004 to 2010, the price of ginseng experienced a 10-year trough, which seriously dampened the enthusiasm of
growers.
After that, due to the speculation of capital, the price of ginseng was raised to more than 800 yuan in less than 3 years, and the high price period lasted
until 2015.
The sky-high price coupled with policy support has promoted the rapid development of the field ginseng planting industry, so the price of ginseng has been declining, and the market has entered a trough period again, fluctuating
around 300 yuan.
growers.
After that, due to the speculation of capital, the price of ginseng was raised to more than 800 yuan in less than 3 years, and the high price period lasted
until 2015.
The sky-high price coupled with policy support has promoted the rapid development of the field ginseng planting industry, so the price of ginseng has been declining, and the market has entered a trough period again, fluctuating
around 300 yuan.
Fifth, the attention of consumer groups continues to grow
Figure 5: Ginseng and Red Ginseng Keyword Search Index from 2011 to 2022 (Source: Baidu Public Opinion Monitoring)
From the search index: the popularity of attention continues to increase, and the popularity of ginseng has grown
steadily.
Since 2014, the public's attention to ginseng has continued to grow, making ginseng products have a strong foundation of consumer trust.
At the same time, the attention of red ginseng and red ginseng products is on the rise, and the popularity of the public continues to rise.
In 2022, the word "ginseng" once entered the hot search list
because of "staying up late".
steadily.
Since 2014, the public's attention to ginseng has continued to grow, making ginseng products have a strong foundation of consumer trust.
At the same time, the attention of red ginseng and red ginseng products is on the rise, and the popularity of the public continues to rise.
In 2022, the word "ginseng" once entered the hot search list
because of "staying up late".
Figure 6: Characteristics of the population of products in the category
From the perspective of age distribution: consumer groups are concentrated in young and middle-aged people, and the consumption power is strong
.
The consumer groups of ginseng products are mainly concentrated in 20-40 years old, of which the 30-39 years old group is the core consumer group of ginseng products, accounting for up to 40%; The consumption of 20-29 year olds is close to 30%.
The consumer group is gradually becoming younger, indicating that the consumption power of ginseng products is strong, and the future market has great potential to be tapped
.
.
The consumer groups of ginseng products are mainly concentrated in 20-40 years old, of which the 30-39 years old group is the core consumer group of ginseng products, accounting for up to 40%; The consumption of 20-29 year olds is close to 30%.
The consumer group is gradually becoming younger, indicating that the consumption power of ginseng products is strong, and the future market has great potential to be tapped
.
From the perspective of gender ratio: male consumers focus on consumption type, and female consumers pay more attention to efficacy
.
Specifically, women pay more attention to red ginseng series products that nourish blood and beauty, and men pay more attention to ginseng product information
such as staying up late and sub-health.
.
Specifically, women pay more attention to red ginseng series products that nourish blood and beauty, and men pay more attention to ginseng product information
such as staying up late and sub-health.
VI.
Summary
Summary
In one sentence, we summarize the market characteristics of the products involved, that is, the price looks at the capital force in the short term, the production reduction rate in the medium term, and the change
in demand channels in the long run.
in demand channels in the long run.
As an important member of the precious category, the consumption growth rate of ginseng products in the past 10 years has reached more than 72.
37%, which has made the practitioners of the ginseng industry see new hope; At the same time, deep cultivation of subdivided fields and close to the clinical needs of traditional Chinese medicine have become the development direction of ginseng products, and will surely become a new consumption growth point
in the future.
37%, which has made the practitioners of the ginseng industry see new hope; At the same time, deep cultivation of subdivided fields and close to the clinical needs of traditional Chinese medicine have become the development direction of ginseng products, and will surely become a new consumption growth point
in the future.
How will the market of ginseng, American ginseng and Panax notoginseng be interpreted in the future? Where is the new economic growth point of ginseng products? Please pay attention to the selected video "Development Status and Trend Analysis of Ginseng Products in 2022"
recently launched by the TCM Industry Big Data Platform of TNT-Cloud Map.
recently launched by the TCM Industry Big Data Platform of TNT-Cloud Map.
