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The Ginger Market is projected to grow by USD 3.4 billion with a CAGR of 7.3% during the forecast period 2021 to 2026.
This ginger market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the ginger market segmentation by product type (fresh ginger, dried ginger, and others), application (food industry, pharmaceutical industry, cosmetic industry, and others), and geography (APAC, the Middle East and Africa, Europe, North America, and South America). The ginger market report also offers information on several market vendors, including AKO GmbH, Archer Daniels Midland Co., Banyan Botanicals, BlissOfEarth, BRL Foods, Buderim Ginger, Capital Foods Pvt. Ltd., Floracopeia Inc., Guangxi Yongjiang Food Industry Co. Ltd., Indian Organic Farmers Producer Co. Ltd., Kingsneat Ltd., McCormick & Co. Inc, Monterey Bay Spice Co., NatureLoc Marketing Pvt. Ltd., Olam Group Ltd., PHU GROTEX ERYK GROTOWSKI, Sino Nature International Co. Ltd., SUN IMPEX INTERNATIONAL FOODS LLC, The Canadian Ginger Co., and The Ginger People among others.
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The perceived health benefits associated with ginger oil are notably driving the ginger market growth, although factors such as unhealthy price competition may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the ginger market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Ginger Market Driver
The perceived health benefits associated with ginger oil are a key factor driving the global ginger market growth. One of the growth drivers of the global ginger market is the health benefits of ginger oil. The awareness among consumers about the health benefits of ginger oil is increasing, which is expected to increase the demand for ginger oil. Subsequently, an increase in demand for ginger oil will impact create demand for ginger during the forecast period. Ginger oil helps in relieving stress. Ginger oil is a natural relaxant oil. The oil, applied topically or inhaled, provides relief from migraines, nervous tension, anxiety, depression, fatigue, mental strain, and other mental conditions. Similarly, ginger oil contains eugenol, citronella, and linalool, which help in reducing skin inflammation. It can soothe stings by honey bees, insects, and snakes. These health benefits of ginger oil are expected to promote the sales of ginger oil products during the forecast period.
Key Ginger Market Trend
The health benefits offered by ginger beer will fuel the global ginger market growth. Amazing health benefits can be obtained from consuming ginger beer. Compared to most other carbonated beverages, ginger beer is healthy. The main component of ginger beer is ginger root, which has been used in food and medicine since ancient times for a variety of purposes. Ginger root contains a substance known as gingerol, an active ingredient that is a natural oil and a rich source of minerals like magnesium, manganese, potassium, copper, and vitamin B6. The therapeutic benefits of ginger are attributed to this active ingredient. The distinctive fragrance of ginger root is also attributed to gingerol. Ginger beer has a few health benefits that make it quite different from most other refreshment beverages. Such factors will drive the demand for ginger beer; subsequently, a rise in demand for ginger beer will positively affect the ginger market during the forecast period.
Key Ginger Market Challenge
Unhealthy price competition is the major challenge to the global ginger market growth. The major challenge for vendors of ginger is achieving mass-market penetration and building a loyal customer base. Several local and regional vendors offer ginger products at lower prices to meet consumer needs. Therefore, national and international vendors face strong and unhealthy competition from these regional vendors. International vendors have to compete with regional vendors in terms of price and quality. Local and regional vendors do not contribute to the market growth as they do not have registered trademarks. However, they have wide penetration in local markets. This negatively impacts the price of ginger products, often resulting in the loss of revenues of the registered industry vendors. Regional and local vendors have strong footprints in the developing markets of APAC, MEA, South America, and Eastern Europe. Such factors will hamper the growth of the ginger market during the forecast period.
This ginger market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global ginger market as a part of the global agricultural products market under the global food products market of the global food, beverage, and tobacco market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the ginger market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the ginger market encompasses successful business strategies deployed by the key vendors. The ginger market is fragmented, and the vendors are deploying growth strategies such as introducing new products, expanding their presence through mergers and acquisitions, and launching marketing campaigns to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The report on the global ginger market contains comprehensive market knowledge and an in-depth vendor landscape add-on to an analysis of the key vendors.
Our In-house experts produce extensive information on the value chain and parent market of the ginger market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.
The value chain of the global food, beverage, and tobacco market includes the following core components:
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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77% of the market’s growth will originate from APAC during the forecast period. India, Nepal, China, and Indonesia are the key markets for the ginger market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The perceived health benefits associated with ginger oil will facilitate the ginger market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
In 2020, the COVID-19 pandemic had a negative impact on the regional ginger market. Retail stores, supermarkets, hypermarkets, pharmacies, beauty product retailers, and salons and spas were temporarily closed due to the nationwide lockdowns imposed by governments of many countries in APAC. As a result, the demand for ginger-based products such as ginger oil, ginger paste, and others declined. However, in 2021, due to the availability of COVID-19 vaccines and the vaccination drives carried out by governments of different countries in APAC, activities in offline retail channels that supply ginger-derived products gradually returned to normal. Such factors are expected to propel the demand for ginger, which, in turn, will significantly fuel the growth of the regional ginger market during the forecast period.
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The ginger market share growth by the fresh ginger segment will be significant during the forecast period. The fresh ginger segment is expected to witness significant growth in terms of CAGR when compared to dried and other segments in the ginger market during the forecast period. This is due to the rise in demand for fresh ginger due to its wide range of applications in the food and beverage, pharmaceutical, cosmetics, and other industries due to its health benefits.
This report provides an accurate prediction of the contribution of all the segments to the growth of the ginger market size and actionable market insights on the post-COVID-19 impact on each segment.
Ginger Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.3% |
Market growth 2022-2026 |
$3.4 billion |
Market structure |
Fragmented |
YoY growth (%) |
6.76 |
Regional analysis |
APAC, the Middle East and Africa, Europe, North America, and South America |
Performing market contribution |
APAC at 77% |
Key consumer countries |
Nigeria, India, Nepal, China, and Indonesia |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
AKO GmbH, Archer Daniels Midland Co., Banyan Botanicals, BlissOfEarth, BRL Foods, Buderim Ginger, Capital Foods Pvt. Ltd., Floracopeia Inc., Guangxi Yongjiang Food Industry Co. Ltd., Indian Organic Farmers Producer Co. Ltd., Kingsneat Ltd., McCormick & Co. Inc, Monterey Bay Spice Co., NatureLoc Marketing Pvt. Ltd., Olam Group Ltd., PHU GROTEX ERYK GROTOWSKI, Sino Nature International Co. Ltd., SUN IMPEX INTERNATIONAL FOODS LLC, The Canadian Ginger Co., and The Ginger People |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product Type
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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