Ginger market size to grow by USD 3.4 billion between 2021 and 2026; Growth driven by perceived health benefits associated with ginger oil

NEW YORK, May 5, 2023 /PRNewswire/ -- The ginger market size is set to grow by USD 3.4 billion between 2021 and 2026 and register a CAGR of 7.3%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read our Sample Report

The perceived health benefits associated with ginger oil, the increasing application of ginger in flavored beer, and the growing adoption of natural ingredient-based products will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.

Ginger Market 2022-2026: Segmentation

Type

Application

Geography

The market growth in the fresh ginger segment will be significant over the forecast period. The segment is driven by the increasing demand for fresh ginger in a wide range of applications in food and beverage, pharmaceutical, cosmetics, and other industries due to its health benefits. In addition, the health benefits of consuming fresh ginger, such as maintaining oral health, easing period aches and pains, reducing nausea, and regulating blood sugar levels, drive the growth of the segment.

APAC will account for 77% of the market growth during the forecast period. The regional market is driven by the increasing use of ginger in industries such as food and beverage, pharmaceutical, personal care, and cosmetics. The rising popularity of aromatherapy among consumers and the introduction of food products with ginger-derived ingredients are other factors driving the growth of the ginger market in APAC.

The report comprises of various segments as well as analysis of the trends and factors that are playing a substantial role in the market, download a sample report

Ginger Market 2022-2026: Vendor Analysis and Scope

The global ginger market is fragmented due to the presence of many vendors. Vendors in the market compete by introducing new products, expanding their presence through mergers and acquisitions, and launching marketing campaigns. Several new players are entering the market, and the number is expected to increase during the forecast period. However, the market has high exit barriers, which make it difficult for players to exit the market. Hence, the threat of rivalry was moderate in 2021 and is expected to remain the same during the forecast period. Some of the key vendors covered in the report include:

Archer Daniels Midland Co. - The company offers ginger products such as jellies and candies.

Buderim Ginger - The company offers ginger products such as Australian Ginger Shots, Ginger Lemongrass, and Lemon Cordial 750 ml.

Capital Foods Pvt. Ltd. - The company offers products such as ginger and garlic paste through Smith & Jones brand.

Floracopeia Inc. - The company offers ginger such as ginger essential oil.

AKO GmbH

Banyan Botanicals

BlissOfEarth

BRL Foods

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.

The Ginger People

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The report also covers the following areas:

Ginger Market size

Ginger Market trends

Ginger Market analysis

Ginger Market 2022-2026: Market Dynamics

Driver – The market is driven by the perceived health benefits associated with ginger oil. Consumers are increasingly becoming aware of the health benefits of consuming ginger oil. Ginger oil helps in relieving stress. It is a natural relaxant oil that can be applied topically or can be inhaled to get relief from migraines, nervous tension, anxiety, depression, fatigue, mental strain, and other mental conditions. Ginger oil contains eugenol, citronella, and linalool, which help in reducing skin inflammation. Also, ginger oil can be used to alleviate bowel movement, and massaging with ginger oil provides relief from fatigue, aching muscles, sore muscles, and muscle pains. Many such health benefits have increased the demand for ginger oil, which is driving the growth of the market.

Trend – The health benefits offered by ginger beer is identified as the key trend in the market. Ginger beer is considered healthier than most carbonated beverages. Ginger root is the main ingredient of ginger beer. It has been used in foods and medicines for a variety of purposes. It contains gingerol, an active ingredient that is a natural oil and a rich source of minerals such as magnesium, manganese, potassium, copper, and vitamin B6. Regular consumption of ginger beer relieves nausea and improves digestion. It lowers the risk of cancer and offers anti-inflammatory benefits. Many such benefits drive the growth of the market in focus.

Challenge – Unhealthy price competition is identified as the major challenge in the market. Many local and regional vendors operating in the market offer ginger products at lower prices to attract customers. These players do not contribute to the market growth, as they do not have registered trademarks. This creates strong and unhealthy competition for international players, which compels them to compete with regional vendors in terms of price and quality. This negatively impacts the prices of ginger products, which, in turn, will challenge the growth of the market.

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Ginger Market 2022-2026: Key Highlights

CAGR of the market during the forecast period 2022-2026

Detailed information on factors that will assist ginger market growth during the next five years

Estimation of the ginger market size and its contribution to the parent market

Predictions on upcoming trends and changes in consumer behavior

The growth of the ginger market

Analysis of the market's competitive landscape and detailed information on vendors

Comprehensive details of factors that will challenge the growth of ginger market vendors

Related Reports:

The ginger beer market size is expected to increase to USD 4.08 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.68%. The market is segmented by distribution channel (off-trade and on-trade) and geography (North America, Europe, APAC, South America, and Middle East and Africa).

The ginger oil market size is expected to increase to USD 77.2 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 9.77%. The market is segmented by type (organic and conventional) and geography (APAC, Europe, North America, Middle East and Africa, and South America).

Ginger Market Scope

Report Coverage

Details

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 7.3%

Market growth 2022-2026

USD 3.4 billion

Market structure

Fragmented

YoY growth 2021-2022 (%)

6.76

Regional analysis

APAC, Middle East and Africa, Europe, North America, and South America

Performing market contribution

APAC at 77%

Key countries

Nigeria, India, Nepal, China, and Indonesia

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

AKO GmbH, Archer Daniels Midland Co., Banyan Botanicalsa, 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 and 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.

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Table of contents:

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026

4 Five Forces Analysis

4.1 Five forces summary

4.2 Bargaining power of buyers

4.3 Bargaining power of suppliers

4.4 Threat of new entrants

4.5 Threat of substitutes

4.6 Threat of rivalry

4.7 Market condition

5 Market Segmentation by Product Type

5.1 Market segments

5.2 Comparison by Product Type

5.3 Fresh ginger - Market size and forecast 2021-2026

5.4 Dried ginger - Market size and forecast 2021-2026

5.5 Others - Market size and forecast 2021-2026

5.6 Market opportunity by Product Type

6 Market Segmentation by Application

6.1 Market segments

6.2 Comparison by Application

6.3 Food industry - Market size and forecast 2021-2026

6.4 Pharmaceutical industry - Market size and forecast 2021-2026

6.5 Cosmetic industry - Market size and forecast 2021-2026

6.6 Others - Market size and forecast 2021-2026

6.7 Market opportunity by Application

7 Customer Landscape

7.1 Customer landscape overview

8 Geographic Landscape

8.1 Geographic segmentation

8.2 Geographic comparison

8.3 APAC - Market size and forecast 2021-2026

8.4 Middle East and Africa - Market size and forecast 2021-2026

8.5 Europe - Market size and forecast 2021-2026

8.6 North America - Market size and forecast 2021-2026

8.7 South America - Market size and forecast 2021-2026

8.8 India - Market size and forecast 2021-2026

8.9 Nigeria - Market size and forecast 2021-2026

8.10 Nepal - Market size and forecast 2021-2026

8.11 China - Market size and forecast 2021-2026

8.12 Indonesia - Market size and forecast 2021-2026

8.13 Market opportunity by geography

9 Drivers, Challenges, and Trends

9.1 Market drivers

9.2 Market challenges

9.3 Impact of drivers and challenges

9.4 Market trends

10 Vendor Landscape

10.1 Overview

10.2 Vendor landscape

10.3 Landscape disruption

10.4 Industry risks

11 Vendor Analysis

11.1 Vendors covered

11.2 Market positioning of vendors

11.3 Archer Daniels Midland Co.

11.4 Buderim Ginger

11.5 Capital Foods Pvt. Ltd.

11.6 Floracopeia Inc.

11.7 Guangxi Yongjiang Food Industry Co. Ltd.

11.8 Indian Organic Farmers Producer Co. Ltd.

11.9 Monterey Bay Spice Co.

11.10 Sino Nature International Co. Ltd.

11.11 SUN IMPEX INTERNATIONAL FOODS LLC

11.12 The Ginger People

12 Appendix

12.1 Scope of the report

12.2 Inclusions and exclusions checklist

12.3 Currency conversion rates for US$

12.4 Research methodology

12.5 List of abbreviations

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