The Spice of Life: Exploring the Global Ginger Market
BlueWeave Consulting
We offer a one-stop solution for your market intelligence needs for any service or product.
Global Ginger Market is flourishing because of the growing awareness about health benefits of ginger consumption and a spurring demand from the thriving food and beverages sector.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Global Ginger Market size at USD 4.91 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Global Ginger Market size to expand at a CAGR of 7.12% reaching a value of USD 6.67 billion by 2030. An increasing demand for ginger across a range of industries, including personal care, pharmaceutical, and nutraceutical, is expected to propel the Global Ginger Market.
By volume, BlueWeave estimated the Global Ginger Market size at 15.46 million metric tons in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Global Ginger Market size to expand at a CAGR of 3.81% reaching a volume of 20.08 million metric tons by 2030. Major growth factors for the Global Ginger Market also include the wide application of ginger in the food and beverages sector and the high use of ginger as herbal medicine.
Opportunity: Increasing demand for dried ginger
Dried ginger is gaining significant traction in the market, particularly in European countries. According to the EU CBI, The Netherlands, Germany, and the United Kingdom, are the top major ginger importing countries in Europe for dried ginger. The rising demand for dried ginger as a health ingredient and the wide application of ginger in various dishes and beverages, such as tea/herbal infusions, and the high Asia population living in the United Kingdom is directly influencing the demand for dried ginger, driving the overall Global Ginger Market.
Impact of Escalating Geopolitical Tensions on Global Ginger Market
The escalating geopolitical tensions are disrupting the growth of the Global Ginger Market. For instance, both Palestine and Israel are major imports of gingers, particularly dry ginger. According to statistics from the Observatory of Economic Complexity (OEC), Israel imported USD 6.11 million worth of ginger in 2021, mostly from China (USD 3.31 million), India (USD 1.11 million), Brazil (USD 768,000), Thailand (USD 446,000), and South Korea (USD 288,000). Israel also exported USD 149,000 worth of ginger to Palestine in the same year. However, with Israel’s military occupation of Palestine, trade activities of ginger with and between these two countries were halted, which negatively impacted the Global Ginger Market.
Global Ginger Market
Segmental Coverage
领英推荐
Global Ginger Market – By Application
Based on application, the Global Ginger Market is segmented into the food industry, the pharmaceuticals industry, and others (cosmetics industry). The food industry segment holds the largest share of the Global Ginger Market. The growth of the market is mainly attributed to the use of ginger in various foods and beverages to provide both sweet and savory flavors. Ginger is a significant part of many Asian cuisines, owing to its flavor and medicinal properties, such as providing better digestion and improving immunity. However, the pharmaceuticals industry segment is anticipated to register a high growth rate over the forecast period owing to making medicines for the treatment of numerous ailments, such as nausea, colds, and migraines.
Global Ginger Market – By Region
The in-depth research report on the Global Ginger Market covers many country-specific markets across five major regions: North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa. Asia Pacific dominates the Global Ginger Market owing to high ginger production in the region. India led the ginger production in 2020 with 43% of the world total, followed by other Asian countries, including China, Nepal, Indonesia, and Thailand, according to the data by the Food and Agricultural Organization of the United Nations. Additionally, ginger was strongly consumed as an herbal medicine in ancient cultures, such as in China and India, which drives demand for ginger in the Asia Pacific region.
Competitive Landscape
Major players operating in the Global Ginger Market include Indian Organic Farmers Producer Company Limited, Buderim Ginger, Litehouse, Inc., The Watkins Co, Morton & Bassett, McCormick, Guangxi Yongjiang Food Industry Co., Ltd, Floracopeia, SA Rawther Spices (P) Ltd, The Herbs N Spices, The Ginger People, and Sun Impex.
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
Contact Us:
BlueWeave Consulting & Research Pvt. Ltd
+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662