The ginger global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Ginger Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The ginger market size has grown strongly in recent years. It will grow from $4.62 billion in 2023 to $4.88 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to cultural and culinary significance, trade routes and exploration, spice trade and colonialism, renaissance and culinary renaissance, and health and wellness trends.
The ginger market size is expected to see strong growth in the next few years. It will grow to $6.19 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to increasing consumer awareness of health benefits associated with ginger consumption, the rising popularity of ginger-based beverages and health tonics, rising disposable incomes and changing lifestyles, growing adoption of ginger as a functional ingredient in skincare, increasing availability of ginger-based products through online retail channels. Major trends in the forecast period include increased demand for ginger-based health and wellness products, expansion of ginger cultivation and processing operations in emerging regions, rising popularity of ginger in culinary applications, integration of ginger into beverages, and new product innovations.
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Scope Of Ginger Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Ginger Market Overview
Market Drivers –
The growing demand for ready-to-drink cocktails is expected to propel the growth of the ginger market going forward. Ready-to-drink cocktails are pre-mixed alcoholic beverages that require no additional preparation and can be consumed straight from the bottle or can. The demand for ready-to-drink cocktails is on the rise as consumers seek convenient yet flavorful options for their drinking preferences. Ginger is used in ready-to-drink beverages to add a zesty and invigorating flavor profile. It also adds complexity to cocktail recipes, balancing out other flavors and providing depth.For instance, in February 2024, according to the Distilled Spirits Council (DISCUS), a US-based academy offering education and training in distilled spirits, there was a significant growth of revenue of the US ready-to-drink (RTD) category, particularly premixed cocktails including spirits ready-to-drink, which was up 26.8% or $599 million to $2.8 billion in 2023. Therefore, the growing demand for ready-to-drink cocktails is driving the growth of the ginger market.
Market Trends –
Major companies operating in the ginger market are developing innovative products, such as fast-acting ginger extracts, to support joint health and mobility. A fast-acting ginger extract is a concentrated form of ginger that quickly delivers its beneficial effects upon consumption. For instance, in June 2022, Specnova, a US-based dietary supplement ingredient supplier, launched GingerT3, an organic, fermented ginger extract aimed at joint support. It’s a fast-acting formula with high potency, offering low doses (75-125mg) for easy formulation. GingerT3 inhibits pain receptors and inflammatory enzymes, promoting joint health by targeting TRPV1 (Transient Receptor Potential Vanilloid 1), 5-LOX (5-Lipoxygenase) , and COX (Cyclooxygenase). It’s designed for easy incorporation into various products, including gummies, chews, capsules, and functional foods.
The ginger market covered in this report is segmented –
1) By Type: Conventional, Organic
2) By Form: Fresh Ginger, Dried Ginger, Ginger Oil, Powdered Ginger
3) By Distribution Channel: Traditional Retail, Modern Retail Stores, Other Distributions
4) By Application: Food Industry, Pharmaceuticals Industry, Cosmetics Industry, Other Applications
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Regional Insights –
Asia-Pacific was the largest region in the ginger market in 2023. The regions covered in the ginger market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the ginger market report are <b>Nestle SA; Archer-Daniels-Midland Co.; Olam Group; McCormick & Co. Inc; Kalsec Inc.; Frontier Co-op.; Capital Foods Ltd.; Buderim Group Ltd.; The Ginger People; Laird Superfood Inc.; JEGS HIGH PERFORMANCE; Sun Impex International Foods L.L.C.; Yummy Food Industrial Group; Monterey Bay Spice Co. Inc.; Indian Organic Farmers Producer Co. Ltd.; Sino-Nature International Co. Ltd.; AKO GmbH; GROTEX; NANI Agro Foods Pvt. Ltd.; Organic Mountain Flavor Pvt. Ltd.; Canadian Ginger Company; Knitspice; BRL foods; KODGAV; Huaguang Group </b>
Table of Contents
1. Executive Summary
2. Ginger Market Report Structure
3. Ginger Market Trends And Strategies
4. Ginger Market – Macro Economic Scenario
5. Ginger Market Size And Growth
…..
27. Ginger Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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