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.”
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