From its prolonged use in the traditional Chinese medicine to becoming an ultimate preference in healthy diet and lifestyle, the market has witnessed major developments over time. Ginseng has various health benefits including antioxidant and anti-inflammatory features, improving the brain functioning, reducing risks of virus and microbial infections, and others, owing to which the root finds its extensive application in food and beverage, pharmaceutical, healthcare, and other sectors. Moreover, the ginseng is also used in dietary supplements, thereby boosting the profitability for providers.
New Farms to Boost Production
The growth of the ginseng market is further supported by the burgeoning production of the root. The new emerging innovations are significantly contributing to the ginseng production growth. Similarly, Botalys, a ginseng producer in Western Europe, plans to make investments in the Ath, Belgium for the installation of a vertical farm that would cultivate rare plants. A 3 million euros raised for this project by the company shows that efforts towards boosting the production of unique plants including ginseng. The company stated that the newly developed hydroponics cultivation designed by company founders aims to obtain high quality and constant ginseng. Moreover, the process avoids the use of solvents, pesticides, or enzymes, making the cultivation process, a completely natural one, reducing the environmental footprint. Apart from this, the company has made several other contracts signed and aims to boost the production and also make significant developments in the industrial phase.
Promoting a Healthier Lifestyle with New Products
Owing to its health benefits ginseng has gained tremendous significance amongst consumers. Companies are focusing on utilizing the existing features of ginseng and innovating even further in terms of the ginseng benefits. On account of this, a leading ginseng producer in South Korea and a recognized player in the global landscape, Korea Ginseng Corporation (KGC) aims at the Malaysian market to get the Malaysian consumer base to adopt a healthier lifestyle. For this purpose, the company launched its new halal-certified Korean red ginseng product range. These new products are manufactured along the systematic cultivation management system and are well-designed to accommodate the busy and fast-paced lifestyles of modern consumers.
New Regulatory Law to Impact Ginseng Sale in West Virginia
While the ginseng landscape witnesses several developments in terms of production of ginseng, certain regulatory laws and requirements are expected to impact the business for ginseng providers in the respective places. Similar laws are imposed upon the sale of ginseng in West Virginia, a US-state. This new law was introduced in the season of ginseng in West Virginia, in 2018, that states that the ginseng sellers are expected to have a photo ID issued by the government to sell the ginseng to registered dealers. Moreover, the government has also stated laws to levy a fine on sellers that carry out ginseng sales without government-issued photo ID, ranging from $500 to $1,000 and up to $2,000. Furthermore, the government also implies several regulations such as prohibiting digging to ginseng on state-owned lands.
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