The
global reach and acceptance for spices, especially for ginger have been
increasing in recent years, presenting promising growth opportunities for
large-scale manufacturers and processors of the spice that also promises vast
health benefits, observes Transparency Market Research in a recent report. The global ginger
market has multiple players, owing to which the vendor
landscape is fragmented and is competitive in nature. The dominant players in
the global ginger market are Yummy Food Industrial Group, Sun Impex
International Foods L.L.C., Archer-Daniels-Midland Co., Indian Organic Farmers
Producer Co. Ltd., Monterey Bay Spice Co. Inc., Buderim Group Ltd., SA Rawther
Spices Pvt. Ltd, Atmiya International, Food Market Management Inc., and
Sino-Nature International Co. Ltd.
According to the report,
the global ginger market is expected to reach a valuation of US$4.18 bn by the
end of 2022; the market is expected to expand at a 6.5% CAGR during the
forecast period of 2017 to 2022. Asia Pacific to remain the Leader
in Global Ginger Market
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The
report segments the global ginger market t based on the form of ginger into
fresh, pickled, dried, preserved, powdered, and crystallized. Among all these
forms, fresh ginger is the most preferred market form. The segment presently
accounts for the dominant share in terms of valuation in the overall market and
is expected to exhibit a CAGR of 7.30% over the report’s forecast period.
Global ginger market is further segmented on the basis of application,
distribution channel and region.
Geographically, Asia
Pacific excluding Japan (APEJ) is the leading regional market. It is expected
to expand at a CAGR of 7.10% over the forecast period. In the Asian
market India and China are drawing enormous amount of medical tourism for which
ginger is a key medical spice. Thus, the rise in medical tourism activities has
provided a significant push for the APEJ market and is likely to remain a key
growth factor for the regional market over the forecast period as well.
Other regions are also making effective measures to increase the
production of spices, especially ginger, with the increasing medical awareness
regarding organic substances.
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Multi-remedial Nature of Ginger allows its Increased
Adoption
The global ginger market
has gained immense popularity in the recent years as the spice helps in curing
multiple diseases like cancer, nausea, cardiovascular diseases and diabetes.
Apart from being a remedy form regular infections like cold and cough, it also
helps in improving indigestion, arthritis, rheumatism, hypertension,
constipation, ulcers, and atherosclerosis. Therefore the global ginger market
is projected to enjoy the advantage of a number of positive factors to increase
demand in the foreseeable future. In the coming years, the ginger market is
expected see a steady expansion in its application base from medicine to
alcohol and beverages, which will boost the overall consumption of ginger
globally. The information presented in this review is based on a TMR report,
titled “Ginger Market (Form - Fresh, Dried, Pickled, Preserved, Crystallized,
and Powdered; Distribution Channel - Modern Grocery Retail, Traditional Grocery
Retail, and Non-Grocery Retail; Application - Culinary, Soups and Sauces,
Snacks & Convenience Food, Bakery Products, Alcoholic Beverages,
Non-Alcoholic Beverages, and Chocolate and Confectionery) - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022.”
