Thinking About Selling Panax Ginseng?
When it’s time to introduce a new supplement product to your brand lineup, experienced sellers understand the importance of doing proper market research before making a financial investment. Many dread choosing the “wrong product” to move forward with, making this part of the qualification process key to your continued success.
A Couple Of Factors To Consider
When considering your next product, the first key point to remember is that different supplements represent different potential opportunities.
For example, some nutritional supplements might have limited competition. Establishing your brand presence and gaining sales momentum may be easier in the beginning, but the potential sales upside may be limited as a result.
On the other hand, another supplement option may be massively popular worldwide, and the progress may be gradual, but the sales upside would be higher. Depending on your product launch strategy and chosen marketplace, these supplement options may be well worth the extra time and effort.
A third product opportunity may be what is considered an “industry staple” – they have displayed tried and true market resiliency over the years, making them a less volatile and more stable type of product to choose. Though it may not serve as the centerpiece of your product lineup, it could potentially be the perfect complementary option.
Another key factor to consider is which direction the product’s popularity seems to be trending in – does your research indicate an upward or downward trend?
Doing proper research is a vital step, but it is often overlooked by first-time private label business owners. Your brand could have a great message, ethically-sourced raw materials, and effective supplements, but without the demand, it doesn’t stand much of a chance at gaining traction. No matter how good the marketing may be, if consumers don’t see a need for it, they won’t buy it. And convincing a consumer that they need a product is a lot harder than simply already giving them what they already want.
Next, let’s examine the benefits and the business behind selling ginseng supplements so that you’re able to make an educated decision on whether they will work well with your brand’s product lineup.
A Closer Look At Panax Ginseng Market Indicators…
Every supplement has its unique advantages and possible challenges. Let’s delve deeper to understand the market for panax ginseng supplements and examine various indicators for an exhaustive analysis of the potential opportunities it presents.
Search Engine Popularity
The search engine popularity for panax ginseng has remained relatively stable in the past five-year period ending in January 2021. Recently, a consistent surge in the popularity of the ingredient took place over the last 12 months of this period, averaging hundreds of thousands of search results monthly.
Furthermore, during the last 12-months ending in January 2021, search terms closely related to ginseng, such as “ginseng tablets,” have increased in popularity by 200%. In comparison, searches for the phrase “ginseng benefits for women” experienced a 450% rise. The upsurge in the closely related search terms indicates a growing interest in panax ginseng supplements. The increasing interest in this ingredient, especially among women, represents an opportunity for brands looking to niche down.
Furthermore, the popularity of supplements closely related to panax ginseng has also risen during this period. These ingredients include “ashwagandha” and “horny goat,” whose demand has increased by 100% and 140%, respectively.
The overall SEO analysis denotes a moderate level of difficulty breaking into the first page of panax ginseng search results. However, the keyword bidding for this and other related terms is reasonably inexpensive. Therefore, a brand taking on the right approach may reach the first page fairly quickly.
The top ten ginseng supplement sellers on e-commerce platforms like Amazon move thousands of units every month.
Some of these top brands have less than 1,000 customer reviews on these platforms. This data point indicates a fascinating angle of entry for new brands looking to invest an adequate amount of time and resources to cultivate customer reviews. In doing so, they may be able to join the ranks. Furthermore, the global ginseng extracts market size was valued at $25 million in 2020, and it is projected to increase at a CAGR of 6.3%, reaching 40.1 million in 2027.
Despite the supplement’s moderate sales volume, its search engine popularity and substantial projected market growth indicate a thought-provoking opportunity for those planning to enter the ginseng supplement market and for entrepreneurs looking to add such products to their existing lineup.
Why Do Consumers Buy Panax Ginseng?
Depending on each consumer’s needs, they may consume panax ginseng for a variety of reasons.
A study found that men treated with panax ginseng had a 60% improvement in erectile dysfunction symptoms when compared to a 30% improvement for those taking conventional medication. These results are quite similar to those found in studies for ashwagandha and horny goat weed.
Another research study examined the effects of 18 young athletes who took two grams of Korean red ginseng extract once a day for seven days. Then they got tested for inflammatory markers after an exercise regime. Inflammatory markers for this group were considerably lower than in the placebo group. From this experiment, it can be deduced that this particular supplement may help alleviate inflammation.
Furthermore, other studies followed 30 healthy people who consumed 200 mg of panax ginseng every day for four weeks. At the end of the research period, they showed improvement in mental health, mood, and social functions. However, these advantages stopped being significant after a few weeks, suggesting that the effects might decrease after prolonged use.
Finally a trial studied 39 people on the road to recovery from stomach cancer surgery and treated them with 5,400 mg of ginseng every day for two years. Interestingly, these people showed substantial immunity system improvements. However, it is crucial to note that cumulatively these results are not conclusive proof of ginseng’s benefit
Nutraceutical vs. Pharmaceutical
When looking to determine effectiveness, keep in mind that dietary supplements are not intended to treat, cure, or prevent any diseases. Though nutraceuticals are routinely used to support certain health benefits, they are different from pharmaceuticals. Nutraceuticals are natural and work with the body’s chemistry to produce certain desired effects over time. Pharmaceuticals, on the other hand, are synthetically created to hack your body’s chemistry for a more immediate and dramatic effect. Understanding the difference between the two is key.
Key Factors Affecting Panax Ginseng Potency/Bioavailability
There are two predominant types of ginseng: Korean or Asian panax ginseng and American ginseng, also known as panax quinquefolius. Studies have identified that different ginseng types offer distinct benefits. American ginseng is believed to be less potent compared to the Asian variety. Therefore a brand containing panax ginseng is recommended for those looking to provide a potent product.
Additionally, it is imperative to buy ginseng from a trustworthy and dependable company. It’s an expensive product that must be carefully grown and tended to ensure efficacy. Disreputable suppliers might sell add chemicals or offer less quantity than advertised/mentioned on the bottle. Therefore, it is essential to partner with a trustworthy manufacturer.
Is Panax Ginseng Right For Your Brand?
Private Label Express offers a wide selection of market-tested and proven stock solutions for you to choose from allowing you to find the perfect product to suit your brand and set you apart from the competition. Your purchase includes complimentary label design, label printing, and label application in your name, ensuring the product is fully branded and ready to go when you receive it.
We offer many other private label supplements besides panax ginseng, contact one of our experienced team members today for an in-depth, customized consultation.