CheongKwanJang's top-grade red ginseng 'Pure Extract Heaven' is being first introduced in the U.S. market

Rhea-AI Summary

Korea Ginseng Corp. introduces 'Pure Extract Heaven', a premium red ginseng product, to the U.S. market just in time for the holiday season. This top-grade ginseng, comprising only 0.5% of total red ginseng production, highlights the company’s 120 years of expertise. The product is expected to meet the growing demand for herbal supplements in the U.S., where the herbal tea market is projected to reach $5,445.22 million by 2029.

With limited availability, 'Pure Extract Heaven' is poised to become a sought-after luxury gift.

Positive

• Introduction of 'Pure Extract Heaven' taps into high demand for herbal supplements during the holiday season.
• The product represents the top 0.5% of red ginseng production, ensuring premium quality and exclusivity.
• The U.S. herbal tea market is projected to grow significantly, indicating a favorable market landscape.

Negative

• None.

• 'Pure Extract Heaven' is the top-grade red ginseng which is only 0.5% of the total red ginseng production, manufactured with 120 years of expertise
• Perfect launch timing as herbs and natural sources supplements are in high demand during this Holiday season

CERRITOS, Calif., Dec. 5, 2022 /PRNewswire/ -- In time for Christmas and year-end gift season, Korea Ginseng Corp.,the World's No.1 ginseng brand, introduces 'Pure Extract Heaven' to the U.S. market for the first time in line with growing demand for herbs and natural source supplements in the U.S.

'Pure Extract Heaven' means ginseng given by heaven as its name suggests. CheongKwanJang's Korean red ginseng products are carefully handled by craftsmen with 15 years of experience. They manually examine the 6-year-old red ginseng roots to grade each one of them according to their strict standards. They examine its composition, body formation, color, and outer layers to grade it into 3 levels of 'Good, Earth and Heaven'.  Among them, ' Pure Extract Heaven' is the highest premium Korean red ginseng, which is only 0.5% of the total red ginseng production.

CheongKwanJang products have long been loved as gifts of state, given to many dignitaries. Due to its limited production volume per year, 'Pure Extract Heaven' gets sold out as it hits the retail locations. Customers wait in line to purchase them as they are regarded as premium luxury gifts.

'Pure Extract Heaven' is being introduced at a time when there is a high demand for herb or natural source supplements. According to Digital Journal's release on November 1^st, Data Bridge Market Research analyzes that the herbal tea market was valued at USD 3,290.17 million in 2021 and is expected to reach the value of USD 5,445.22 million by 2029, at a CAGR of 6.50% during the forecast period of 2022-2029. It is further analyzed that consumers have preference to consume safe and natural based tea vs. chemical-based teas.

In addition, herbal drinks have also recorded steep growth in the U.S. market in recent years. According to a report by market research firm Vantage Market Research, the global market for herbal drinks is expected to grow steeply at an annual average growth rate of 5.1% from 2021 to 2028, reaching a market value of $2.45 billion in 2028.

Rian Heung-Sil Lee, CEO of Korea Ginseng Corp. U.S stated that "Red ginseng is a special health functional food with limited production capacity. Especially 'Pure Extract Heaven' has limited availability per year, so it was not easy to introduce it to U.S. consumers. In line with the growing demand for herbal products in the U.S. market, we are pleased to finally be able to launch the efficacy of CheongKwanJang's premium product, 'Pure Extract Heaven' in the U.S market". 

Korean ginseng has been called Asia's treasure for the past millennium and has been loved for its outstanding efficacy and high quality. CheongKwanJang, Korea's leading ginseng brand, has 48.3% global market share in the Ginseng category according to the 2021 Euromonitor report, thus strengthening its reputation as the world's No. 1 red ginseng brand. As it is hard to find, scarcely available, the newly released Pure Extract, is expected to receive a great response from long-awaited consumers.

About Korea Ginseng Corp.

Korea Ginseng Corporation (KGC) is the world's number one ginseng brand. Established in 1899, it is one of the most proven and trusted herbal dietary supplement manufacturers, providing the highest quality, traditionally harvested Korean Red Ginseng products to support health and well-being. KGC runs four regional headquarters in the United States, China, Japan, and Taiwan, in addition to South Korea, and exports products to over 40 countries. With over 40% world market share, its presence spans Asia, Europe, the Middle East region and the U.S. KGC's family of brands include KORESELECT, CheongKwanJang, Good Base, and Donginbi. The KGC brands, inclusive of over 250 products, use the most exceptional ginseng combined with the finest herbs and ingredients to deliver superior products to meet everyone's needs.

For more information, visit kgcus.com

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SOURCE KGC (Korea Ginseng Corp.)

FAQ

What is 'Pure Extract Heaven'?

'Pure Extract Heaven' is a premium red ginseng product introduced by Korea Ginseng Corp. to the U.S. market, known for its high quality and limited production.

When was 'Pure Extract Heaven' launched in the U.S.?

'Pure Extract Heaven' was launched in the U.S. market on December 5, 2022.

What are the market trends related to herbal supplements?

The herbal tea market is expected to grow from USD 3,290.17 million in 2021 to USD 5,445.22 million by 2029 at a CAGR of 6.50%.

How rare is 'Pure Extract Heaven' ginseng?

'Pure Extract Heaven' comprises only 0.5% of total red ginseng production, making it an exclusive product.

What company introduced 'Pure Extract Heaven'?

'Pure Extract Heaven' was introduced by Korea Ginseng Corp., a leading brand in the ginseng industry.