The
global ginger market is characterized by the presence of a large pool
of established players, and therefore the market’s vendor landscape
is fragmented and competitive in nature. The players are making use
of new flavours in order to attract more customers and introducing
new products with added nutrients, notes Transparency Market Research
(TMR) in its report on the global ginger market. Some of the players
within the market which are mentioned in the report are: Indian
Organic Farmers Producer, SA Rawther Spices, Archer Daniels Midland,
Sun Impex, Food Market Management, Yummy Food Industrial Group,
Monterey Bay Spice, Buderim Group, Sino-Nature, and Atmiya
International.
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According
to the report by TMR, the global ginger market is expected to rise
from US$3.06 bn in revenues in 2017 to US$4.18 bn by 2022, expanding
at a 6.5% CAGR from 2017 to 2022. On the basis of form, the demand
for fresh ginger is expected to exceed all other forms. The fresh
ginger segment is anticipated to exhibit a CAGR of 7.30% between 2017
and 2022 and continue to remain the most attractive segment
throughout the forecast period.
Demand
for Ginger Highest from Culinary Segment
By
application, the culinary segment will emerge the most attractive
segment. The global ginger market will see traditional grocery
retail, non-grocery retail, and modern grocery retail, as key
channels for distribution. On the basis of geography, the market for
ginger will emerge most lucrative in Asia Pacific excluding Japan.
The market in APEJ is estimated to expand at a CAGR of 7.10% from
2017 to 2022.
Soaring
Popularity of Ginger as a Herbal Medicine Driving Demand
As
per the lead author of this report, “the demand for ginger
is growing across the globe on account of the rising popularity of
ginger as a herbal medicine for curing several ailments such as
indigestion, ulcers, constipation, arthritis, hypertension,
rheumatism, and atherosclerosis. Ginger is also being used for
combating cancer, nausea, diabetes, and cardiovascular diseases, and
this is behind its high demand. The use of ginger as a home remedy
for treating various infections such as common cold and cough is also
behind the soaring popularity of ginger. The demand for ginger will
also see a high on account of the spreading awareness regarding its
use for delaying aging process and its anti-inflammatory and
anti-oxidative properties.
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