As per the latest report by IMARC Group, titled “Ginger Processing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global ginger processing market size reached US$ 2.16 Billion in 2018. Ginger is one of the most commonly used condiments in Asian cuisines due to its pungent aroma and peppery flavor. The aroma can be attributed to the presence of ketones, particularly gingerols, which are the main bioactive compounds and have powerful anti-inflammatory and antioxidant properties. Some of the nutrients that are abundantly available in ginger include zinc, folate, magnesium, phosphorus, riboflavin and vitamin B6. Consequently, ginger offers numerous health benefits, such as reducing the risk of diabetes, obesity and heart diseases, and relieving nausea, motion sickness and loss of appetite.
Global Ginger Processing Market Trends:
Processed ginger products, including oil, pulp, syrup, powder and candy, are extensively used in the food and beverage (F&B) industry. Amongst these, ginger powder is utilized as a flavoring agent in pickles, curry dishes, meat sausages, salad dressings and tomato ketchup. Moreover, the increasing health consciousness among consumers is catalyzing the demand for healthy food products across the globe. Furthermore, manufacturers are introducing various products, such as digestive drinks and ginger tea, in the market. Apart from this, ginger juice is used in several medicines in the pharmaceutical industry, and ginger oil is included in cough relief tablets and syrups. It is also used in the treatment of different skin disorders. Other factors strengthening the market growth are urbanization, growing population, low capital investments, expanding fast food chains and the easy availability of raw materials. Looking forward, the market value is projected to reach US$ 3.42 Billion by 2024, at a CAGR of 6.6% during 2019-2024.
- Based on the form, the market has been bifurcated into ginger powder and oil. At present, ginger powder represents the most preferred form.
- On the basis of the end use, the market has been classified into the food, pharmaceutical, cosmetics and other industries. Amongst these, the food industry exhibits a clear dominance in the market as it is used in different food products ranging from bread and other bakery products to smoothies and curries.
- The market has been analyzed on the basis of the distribution channel, covering supermarkets and hypermarkets, convenience stores, specialty food stores, online, and others.
- Region-wise, India represents the largest producer and one of the leading exporters of ginger and processed ginger products. This can be accredited to the country’s climatic conditions that are suitable for the cultivation of ginger, coupled with its pivotal role in the preparation of masala chai, vegetable dishes and curries. Other major markets include China, Nepal, Thailand, Nigeria and Indonesia.
- The competitive landscape of the market has been analyzed in the report, along with the profiles of the key players.
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