Global ginger market is predicted to proliferate at a CAGR of 6.50% between 2017 and 2022, reaching a value of US$4.18 bn by the end of 2022.
Albany, NY -- (SBWIRE) -- 11/14/2017 -- Ginger is one of the most ancient spices worldwide. Over the last two years, there has been a slight growth, partly driven by a greater awareness of the product's health benefits, which include its ability to boost bone health, strengthen the immune system, increase appetite, prevent various types of cancer, improve respiratory conditions and others. According to a latest study, the expanding usage of ginger as a flavoring agent is propelling its overall market tremendously and is expected to continue to drive it in the years to come. To elaborate further, Market Research Hub (MRH) has freshly broadcasted a study titled "Ginger Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022" to its online repository. This extensive research study uncovers the various facets of the global ginger market and presents a comprehensive revenue forecast for the assessment period 2017 to 2022.
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It has been analyzed that the global ginger market is heavily influenced by the growing popularity of ginger as an herbal medicine. In China, it has been used for over 2,000 years for remedial inflammation and diarrhea. Commonly, ginger is found in fresh, dried, pickled, preserved, crystallized, and powdered forms across the world. The demand for fresh ginger is much higher than its other forms. As per the findings of the report, the global ginger market is expected to gain US$3.06 bn in revenues by 2017. The market's opportunity is estimated to 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 forecast period.
The broadening application base of ginger, from medicines to alcoholic beverages, is anticipated to boost the global ginger market in the years to come. To offer readers detailed insights and analysis, the report segments the global ginger market on the basis of form type, application, distribution channel and regional spread. Among various forms available in the market, the demand for fresh ginger is much higher. On the other hand, application-wise segmentation includes culinary, snacks and convenience food, soups and sauces, bakery products, non-alcoholic beverages, alcoholic beverages, and chocolate and confectionery. Out of these, the culinary segment has surfaced as the main application area of ginger and is projected to remain so over the next few years.
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A vital section covering the key trends and future opportunity is also discussed in the study which finds that several imminent trends in the end-user industries that may fuel the demand for ginger in the coming years. The leading players in this market are introducing novel products, using new flavors or added nutrients, which also adds positive growth to the global market.
Moreover, to aid new entrants in proper decision-making, the report includes the profiling of top players in this industry, their respective market share along with various business strategies which are adopted by them as well as the recent developments. At present, key players operating in this market include Archer-Daniels-Midland Co., Yummy Food Industrial Group, Monterey Bay Spice Co. Inc., Sun Impex International Foods L.L.C., Indian Organic Farmers Producer Co. Ltd., Sino-Nature International Co. Ltd., Atmiya International, Buderim Group Ltd., Food Market Management Inc., and SA Rawther Spices Pvt. Ltd.
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