Ginger Market Report, Size, Share, Growth, Trends 2023-2028
The global ginger market has exhibited remarkable growth, attaining a substantial value of USD 5.78 billion in the year 2022. According to comprehensive market research and analysis, the market is expected to maintain its upward trajectory, projecting a Compound Annual Growth Rate (CAGR) of 4.5% over the forecast period from 2023 to 2028. This anticipated expansion is predicted to drive the market to reach a value of USD 7.53 billion by 2028.
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Key Market Insights:
Versatile Applications in the Food Industry: Ginger’s versatile applications in the food industry, as a popular spice, flavoring agent, and herbal ingredient, have been a significant driver for the global ginger market. The rising demand for natural and healthful ingredients in food products has contributed to ginger’s popularity.
Health and Wellness Trends: Ginger’s reputation as a functional food, owing to its various health benefits, has fueled its demand among health-conscious consumers. The growing awareness of ginger’s therapeutic properties, including anti-inflammatory and digestive benefits, has driven its market growth.
Expanding Usage in Herbal and Traditional Medicines: Ginger has been an essential component of traditional and herbal medicines across cultures for centuries. Its use in natural remedies for ailments and its potential in preventive healthcare have propelled the demand for ginger in the pharmaceutical industry.
International Culinary Integration: Ginger’s integration into diverse international cuisines, such as Asian, Middle Eastern, and Mediterranean, has contributed to its global market expansion. The spice’s distinctive flavor and aroma have made it a sought-after ingredient worldwide.
Market Opportunity for the Global Ginger Market:
Functional Food and Nutraceutical Industry: The expanding functional food and nutraceutical industry offers significant opportunities for ginger-based products as consumers seek healthier and natural alternatives.
Cosmetics and Personal Care Sector: The use of ginger in cosmetic and personal care products, such as skincare and hair care, presents a promising market opportunity, driven by the trend towards natural and organic ingredients.
Growing Demand for Organic Ginger: The rising demand for organic and sustainably sourced ginger presents opportunities for suppliers to cater to environmentally-conscious consumers.
Market Segments:
Fresh Ginger: Fresh ginger is widely used in culinary applications and is a preferred choice for its distinct taste and aroma.
Processed Ginger: Processed ginger products, such as ginger paste, powder, and oil, offer convenience and versatility in various food and beverage formulations.
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