Market Insights & Analysis: Global Ginger Market (2023-28)
The Global Ginger Market is projected to grow at a CAGR of around 6.9% during the forecast period, i.e., 2023-28. The growth of the market would be propelled mainly by the growing consumer awareness of the health benefits & culinary uses of ginger and its increasing number of medicinal & nutraceutical applications. Ginger is a versatile ingredient used in various cuisines worldwide. Its unique flavor & aroma make it a popular choice in many savory & sweet dishes, beverages, snacks, & condiments.
As a result, the globally flourishing food & beverage sector, including restaurants, packaged food manufacturers, & beverage companies, is boosting the demand for ginger as an ingredient in their products. In addition, the growing demand for ginger-based natural health products & dietary supplements on account of its anti-inflammatory, antiemetic, & antioxidant properties, coupled with the rising popularity of ginger in natural & functional ingredients, owing to which it is perceived as a "clean label" ingredient, are other prominent aspects driving the market.
|Study Period||Historical Data: 2018-21|
|Base Year: 2022|
|Forecast Period: 2023-28|
|Regions Covered||North America: US, Canada, Mexico|
|Europe: Germany, The UK, France, Spain, Italy, Rest of Europe|
|Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific|
|South America: Brazil, Argentina, Rest of South America|
|Middle East & Africa: UAE, Saudi Arabia, South Africa, Rest of MEA|
|Key Companies Profiled||Monterey Bay Spice Co. Inc., Sino Nature International Co Ltd., Buderim Group Limited, Knitspice, KODGAV, Canadian Ginger Company, Olam Spices, Huaguang Group, Indian Organic Farmers Producer Co. Ltd., Other|
|Unit Denominations||USD Million/Billion|
Moreover, advances in processing techniques like freeze-drying, dehydration, & extraction methods that have extended the shelf life of ginger and enabled the production of value-added ginger products are further amplifying the market growth. Furthermore, since ginger aligns well with health & wellness trends that emphasize natural, plant-based ingredients, it is being increasingly associated with functional foods, superfoods, & natural remedies. Hence, as these trends continue to shape consumer preferences, the global ginger market will experience sustained growth in the years to come.
Global Ginger Market Key Driver
Ever-Increasing Consumer Demand for Healthy & Natural ingredients: Ginger is recognized widely for its health benefits owing to its anti-inflammatory properties, digestive benefits, and use in traditional medicine applications. As consumers increasingly seek natural remedies & functional foods to support their well-being, and ginger well-aligns with these preferences, it witnesses high demand. Moreover, there's a growing preference for natural & clean-label ingredients, which are minimally processed and free from artificial additives.
As ginger also fits well here as a natural spice & flavoring agent, consumers are increasingly opting for products with recognizable & simple ingredient lists. Hence, the mounting inclination of consumers toward healthy foods with natural ingredients is a key factor driving the Global Ginger Market.
Global Ginger Market Growth Restraint:
Volatility of Ginger Prices due to Climate Conditions: Ginger cultivation relies heavily on weather conditions like rainfall, temperature, & sunlight. Adverse weather situations like droughts, floods, or storms can significantly impact ginger production owing to lower yields & higher production costs, which, in turn, would create price instability in the market. In addition, governments of several countries impose trade policies, import/export regulations, & tariffs, which can affect the flow of ginger across borders. Any change in these regulations or the introduction of new tariffs can further create uncertainty and impact ginger prices. Hence, these aspects are likely to hinder the global ginger market in the coming years.
Global Ginger Market (2023-28): Segmentation Analysis
Global Ginger Market report by MarkNtel Advisors includes segmentation analysis based on Form, and Type. This breakdown allows businesses to identify specific market segments and tailor their marketing and product strategies accordingly, maximizing their chances of success in the Global Market.
Based on Form:
Of them all, fresh ginger, i.e., the unprocessed root form of the ginger plant, dominates the market with the largest share, owing mainly to its extensive consumption & utilization in various culinary & medicinal applications. The highly versatile fresh ginger is used in a wide range of cuisines globally. It adds flavor, aroma, & a distinct spiciness to dishes, which makes it a popular choice among both chefs & home cooks.
For centuries, fresh ginger has been valued for its medicinal properties and is being used commonly in traditional medicine systems like Ayurveda & TCM (Traditional Chinese Medicine), owing mainly to its digestive, anti-inflammatory, & immune-boosting properties. In addition, it also serves as the primary raw material for numerous value-added ginger products like ginger powder, ginger extracts, ginger oil, & ginger-based beverages. Hence, the wide use of fresh ginger in herbal remedies & natural health practices is contributing to its massive demand worldwide and, in turn, spurring growth in the global ginger market.
Based on Type:
Here, conventional ginger holds a larger share of the global market. It is because the majority of ginger production worldwide is done using traditional farming methods, which involve the use of synthetic fertilizers, pesticides, & herbicides. Conventional ginger is generally less expensive than organic ginger due to lower production costs, which is why it is more widely available in larger quantities. Several ginger-producing countries, especially in Asia-Pacific, have a long history of using conventional farming methods, which are deeply rooted in the local agricultural systems. Overall, price sensitivity plays a major role in consumer choices, and since conventional ginger provides a more affordable option for a broader consumer base, it witnesses a significant demand.
On the other hand, there is a rapidly rising awareness of organic farming practices and the desire for chemical-free produce, owing to which the demand for organic ginger is increasing significantly. Globally, there is an ongoing trend towards healthier & more sustainable food choices as consumers are becoming more conscious of the potential health & environmental impacts of conventional farming practices.
Organic ginger is cultivated without the use of GMOs (Genetically Modified Organisms), synthetic chemicals, or irradiation, which helps preserve soil health, biodiversity, & ecosystem balance. Consequently, many consumers consider organic ginger a much healthier option than conventional ginger due to its lower chemical residue levels & nutritional benefits. Hence, as more & more consumers continue to prioritize sustainability, health, & natural choices, it is likely that organic ginger acquire a noteworthy share of the global ginger market in the coming years.
Global Ginger Market Regional Projection
Geographically, the Global Ginger Market expands across:
Of all regions globally, Asia-Pacific, mainly India, holds a dominant position in the Ginger Market. The region is home to major ginger-producing countries like China, India, Indonesia, Thailand, & Vietnam, which have favorable climatic conditions and suitable agricultural practices for ginger cultivation. The extensive cultivation areas and large-scale production of ginger in these countries are the prime aspects contributing significantly to regional market growth. Worldwide, China is the largest producer & exporter of ginger, with well-established trade networks & infrastructure for ginger exports supplying ginger to various regions around the world.
In addition to China, India also has a long-standing tradition of using ginger in their cuisine & traditional medicine. It is an essential ingredient in various Asian dishes & beverages, and its medicinal properties are valued highly in traditional remedies. The high domestic demand for ginger in both these countries contributes to their dominance in the global market. Moreover, Asian countries also benefit from cost advantages in ginger production owing to low labor costs, which results in the competitive pricing of ginger globally. Overall, their experience in ginger cultivation, harvesting, & processing gives competitive edge over other regions. Hence, these aspects indicate the dominance of Asia-Pacific in the Ginger Market worldwide.
Global Ginger Indusrtry Recent Developments
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Frequently Asked Questions
A. The Ginger Market is projected to grow at a CAGR of around 6.9% during 2023-28.
A. The growing consumer demand for natural & healthy ingredients is the prime aspect projected to drive the Ginger Market further in the coming years.
A. Monterey Bay Spice Co. Inc., Sino Nature International Co Ltd., Buderim Group Limited, Knitspice, KODGAV, Canadian Ginger Company, Olam Spices, Huaguang Group, and Indian Organic Farmers Producer Co. Ltd. are the key players operating in the Ginger Market.
A. The volatility of ginger prices is the major growth restraint for the Ginger Market.
A. Organic ginger is gaining prominence and would provide remunerative opportunities for the leading players in the Ginger Market during the forecast period.
A. Globally, Asia-Pacific would continue generating lucrative prospects for the Ginger Market in the years ahead.
Global Ginger Market Research Report (2023-2028) - Table of Contents