IMARC Group has recently released a new research study titled “Ginger Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the ginger industry?
The global ginger market size reached US$ 2.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.7 Billion by 2028, exhibiting a growth rate (CAGR) of 7.94% during 2023-2028.
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Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Ginger refers to a thick and aromatic rhizome of a tropical plant belonging to the family of Zingiberaceae. It has a sweet-spicy taste and pungent smell with a striated texture that adds a unique flavor to several food items. Ginger is a rich source of various nutrients, including zinc, folate, phosphorus, magnesium, riboflavin, etc., that assist in maintaining sugar levels in the body, improving heart health, reducing inflammation, relieving anxiety, etc. Consequently, ginger is extensively utilized in the fresh form, and it is also processed for preparing pickled, dried, preserved oil, and candied product variants.
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What are the major market drivers in the ginger market?
The escalating demand for nutrition-rich food items among health-conscious individuals is primarily driving the ginger market. In addition to this, the rising product adoption as a dietary condiment to flavor cookies, cakes, curry mixes, etc., across the food and beverage (F&B) industry is further catalyzing the market growth. Moreover, the growing utilization of ginger powder in the formulation of personal care items, owing to its anti-inflammatory, pharmacological, and physiological benefits, is acting as another significant growth-inducing factor.
Besides this, the development of ginger-infused beverages and lozenges that aid in digestion and offer cough relief is also augmenting the global market. Additionally, the leading manufacturers are incorporating good agricultural practices (GAP), such as using high-quality seeds, educating the farmers regarding efficient nutrient management and crop diseases, developing strategies on plant pathology, etc., for enhancing the production volumes. This, in turn, is projected to fuel the ginger market over the forecasted period.
Competitive Scenario with Key Players:
The competitive landscape of the market has also been analyzed, with some of the ginger company:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Archer-Daniel-Midland Company, Buderim Group Limited, Floracopeia Inc., Guangxi Yongjiang Food Industry Co., Ltd., Indian Organic Farmers Producer Company Limited (IOFPCL), Monterey Bay Spice Co., SA Rawther Spices (P) Ltd., Sino-Nature International Co. Ltd., Sun Impex International Foods LLC and The Ginger People Co.
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The report cover the below key market segments:
Breakup by Product Type:
- Fresh Ginger
- Dried Ginger
- Preserved Ginger
- Ginger Oil
- Others
Breakup by Application:
- Food Industry
- Pharmaceuticals Industry
- Cosmetics Industry
- Others
Breakup by Distribution Channel:
- Traditional Retail
- Modern Retail Stores
- Others
By Geography:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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