Global Ginger Market: Snapshot
In the recent times, the global market for ginger has observed a strong surge in its valuation, thanks to the increasing popularity of ginger as a spice and as a flavoring agent across the world. The rising awareness about the medical benefits of ginger is also attracting consumers substantially, and this factor is expected to act as a long-term promoter of this market, leading it to high growth over the next few years.
In addition to this, the widening application base of ginger, from medicines to alcoholic beverages, is anticipated to boost the global ginger market in the years to come. The market is projected to gain US$3.06 bn by 2017 in revenues. The opportunities in this market is predicted to proliferate at a CAGR of 6.50% between 2017 and 2022, reaching a value of US$4.18 bn by the end of 2022.
APEJ to Retain Leadership in Global Ginger Market
North America, the Middle East and Africa (MEA), Asia Pacific excluding Japan (APEJ), Europe, Latin America, and Japan have emerged as the key regional markets for ginger across the world. Of these, the APEJ region has surfaced as the most attractive regional market for ginger and acquired the leading position in the global market. Progressing at a CAGR of 7.10% during the period from 2017 to 2022, the APEJ market for ginger is predicted to experience a high rise over the near future, thereby retaining its leadership on the overall market.
The tremendous rise in medical tourism in Asian countries, such as India and China, has influenced the production of medicinal spices, of which ginger is a significant segment and, consequently, the market for ginger in APEJ is being heavily boosted. Researchers anticipate the scenario to remain the same over the next few years.
Amongst other regional markets for ginger, the Middle East and Africa, Europe, and North America are expected to register a steady rise in their respective ginger markets over the forthcoming years. While the Middle East and Africa market will gain from the increasing production of spices; the North America and Europe markets will benefit from the rising awareness of the medicinal qualities of ginger among consumers, together with augmenting preference for organic and bio-based remedies for ailments.
Fresh Ginger Enjoys Greater Demand than Other Forms
Commonly, ginger is found in fresh, dried, pickled, preserved, crystallized, and powdered forms across the world. The demand for fresh ginger is much higher than its other forms. Expanding at a CAGR of 7.30% between 2017 and 2022, this segment is anticipated to remain the most prominent one in the years to come.
Ginger finds extensive application in culinary, snacks and convenience food, soups and sauces, bakery products, non-alcoholic beverages, alcoholic beverages, and chocolate and confectionery. The culinary segment has surfaced as the main application area of ginger and is projected to remain so over the next few years. Traditional grocery retail, modern grocery retail, and non-grocery retail are the prime distribution channels of ginger across the world.
At the forefront of the global market for ginger are Archer-Daniels-Midland Co., Yummy Food Industrial Group, Monterey Bay Spice Co. Inc., Sun Impex International Foods L.L.C., Indian Organic Farmers Producer Co. Ltd., Sino-Nature International Co. Ltd., Atmiya International, Buderim Group Ltd., Food Market Management Inc., and SA Rawther Spices Pvt. Ltd.
Global Ginger Market: Overview
Of late, the global market for ginger has been witnessing a remarkable upswing in its valuation, thanks to the growing popularity of ginger as an herbal medicine across the world. The augmenting usage of ginger as a flavoring agent is also propelling this market tremendously and is expected to continue to drive it in the years to come.
This research report offers a strategic assessment of the global market for ginger and the growth forecast for the period 2017 to 2022. To aid in proper decision-making, the report includes the profiling of top players in this industry, their respective market share along with various business strategies which are adopted by them as well as the recent developments.
Global Ginger Market: Scope of the Study
The analysis of the key trends and the market opportunity map presented in this study discusses several imminent trends in the end-use industries that may fuel he demand for ginger in the coming years. Other than this, the scope of the report also focuses on the future penetration of various ginger related products. The market attractiveness analysis and the opportunity map provided here offers deep insights into various market dynamics and the competition between the leading players, along with providing the most profitable segments within the global ginger market.
The research report also presents the breakdown and the assessment of various factors, such as market drivers, restraints, and opportunities that influence the growth of the global market for ginger. These factors determine the prominent trends and their effect on the overall market growth. Overall, after taking into consideration the different factors which affects the global ginger market along with providing a holistic analysis of the global ginger market, and also provides an estimation of growth for the forecast period during 2017 to 2022.
Global Ginger Market: Segmentation
Under the scope of this research report, the global market for ginger has been evaluated on the basis of the form, distribution channel, application, and the regional spread. As per the market study, based on the form, this market is classified into fresh, dried, pickled, preserved, crystallized, and powdered forms. Based on the distribution channel, the market is categorized into Traditional grocery retail, modern grocery retail, and non-grocery retail. By the application, the market is divided into culinary, snacks and convenience food, soups and sauces, bakery products, non-alcoholic beverages, alcoholic beverages, and chocolate and confectionery.
On the basis of the geography, the global market has been bifurcated into Asia Pacific excluding Japan (India, Indonesia, China, South Korea, Australia, and Singapore), North America (Canada and the U.S.), the Middle East and Africa (Turkey, Israel, South Africa, and GCC countries), Latin America (Brazil, Argentina, and Mexico), Europe (the U.K., Germany, Italy, France, Spain, and Nordic countries), and Japan. The performance of each of the regional market is calculated on the basis of the performance of each of the domestic markets for ginger in this research report.
Companies Mentioned in the Report
The worldwide ginger market is highly competitive and fragmented. Archer-Daniels-Midland Co., Yummy Food Industrial Group, Monterey Bay Spice Co. Inc., Sun Impex International Foods L.L.C., Indian Organic Farmers Producer Co. Ltd., Sino-Nature International Co. Ltd., Atmiya International, Buderim Group Ltd., Food Market Management Inc., and SA Rawther Spices Pvt. Ltd. are some of the leading players in the global ginger market.