Ginger Market Expected to Rise US $4.18 Bn by 2022
Ginger Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022
Albany, NY -- (SBWire) -- 04/17/2018 --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.
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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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