Characterized
by the presence of a massive pool of established participants, the
worldwide market for ginger demonstrates a highly competitive and
fragmented business landscape, finds a new research report by
Transparency Market Research (TMR). The leading players in this
market, such as Archer Daniels Midland, Yummy Food Industrial Group,
Monterey Bay Spice, Sun Impex, Indian Organic Farmers Producer,
Sino-Nature, Atmiya International, Buderim Group, Food Market
Management, and SA Rawther Spices, rely heavily upon introducing
novel products, using new flavors or added nutrients, notes the
research study.
According
to the TMR’s estimations, the global
ginger market
is expected to gain US$3.06 bn in revenues by 2017. The market’s
opportunity is estimated to further rise at a healthy CAGR 6.50%
during the period from 2017 to 2022 and attain a value of US$4.18 bn
by the end of the period of the forecast, states the report.
Growing
Popularity of Ginger as Herbal Medicine Aiding in Market’s Growth
“The
global ginger market is heavily influenced by the growing popularity
of ginger as an herbal medicine,” says a researcher at TMR. Since,
ginger helps in combating various ailments, such as degenerative
disorders (arthritis and rheumatism), digestive problems
(indigestion, constipation, and ulcer), cardiovascular diseases
(atherosclerosis, and hypertension), cancer, diabetes mellitus, and
nausea, its demand has always been on the positive side.
Its
antimicrobial potential, which aid in the treatment of infectious
diseases, and its anti-oxidative and anti-inflammatory properties for
keeping the process of aging in check are likely to boost this market
substantially in the years to come. The hectic lifestyles of
consumers and the increasing health consciousness among them is also
projected to contribute to the growth of this market in the near
future, notes the research study.
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APEJ
to Present Attractive Growth Opportunities
The
research report presents a thorough geographical analysis of the
global ginger market. According to it, North America, the Middle East
and Africa (MEA), Asia Pacific excluding Japan (APEJ), Europe, Latin
America, and Japan are the main regional ginger markets across the
world. Among these, APEJ is the leader, being the most attractive
market for ginger, and is expected to retain its leadership
throughout the period of the forecast.
Researchers
anticipate this regional market to progress at a CAGR of 7.10% over
the period from 2017 to 2022 and experience a high rise in the near
future on account of the rising medical tourism in Asian countries,
especially in China and India, leading to an increasing yield of
medicinal plants and spices.
Fresh
ginger is experiencing a much higher demand than the other forms of
commercially available ginger, including dried, pickled, preserved,
crystallized, and powdered. The fresh ginger segment is anticipated
to remain on the top in the near future, with its demand rising at a
CAGR of 7.30% between 2017 and 2022, reports the research study.
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