Theglobal reach and acceptance for spices, especially for ginger have beenincreasing in recent years, presenting promising growth opportunities forlarge-scale manufacturers and processors of the spice that also promises vasthealth benefits, observes Transparency Market Research in a recent report.The global ginger market has multiple players, owingto which the vendor landscape is fragmented and is competitive in nature. Thedominant players in the global ginger market are Yummy Food Industrial Group,Sun Impex International Foods L.L.C., Archer-Daniels-Midland Co., IndianOrganic Farmers Producer Co. Ltd., Monterey Bay Spice Co. Inc., Buderim GroupLtd., SA Rawther Spices Pvt. Ltd, Atmiya International, Food Market ManagementInc., and Sino-Nature International Co. Ltd.
Accordingto the report, the global ginger market is expected to reach a valuation ofUS$4.18 bn by the end of 2022; the market is expected to expand at a 6.5% CAGRduring the forecast period of 2017 to 2022.
Asia Pacific to remain the Leaderin Global Ginger Market
Thereport segments the global ginger market t based on the form of ginger intofresh, pickled, dried, preserved, powdered, and crystallized. Among all theseforms, fresh ginger is the most preferred market form. The segment presentlyaccounts for the dominant share in terms of valuation in the overall market andis expected to exhibit a CAGR of 7.30% over the report’s forecast period. Global ginger market is further segmented on the basis of application,distribution channel and region.
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Geographically,Asia Pacific excluding Japan (APEJ) is the leading regional market. It isexpected to expand at a CAGR of 7.10% over the forecast period. In theAsian market India and China are drawing enormous amount of medical tourism forwhich ginger is a key medical spice. Thus, the rise in medical tourismactivities has provided a significant push for the APEJ market and is likely toremain a key growth factor for the regional market over the forecast period aswell. Other regions are also making effective measures to increase theproduction of spices, especially ginger, with the increasing medical awarenessregarding organic substances.
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Multi-remedialNature of Ginger allows its Increased Adoption
Theglobal ginger market has gained immense popularity in the recent years as thespice helps in curing multiple diseases like cancer, nausea, cardiovasculardiseases and diabetes. Apart from being a remedy form regular infections likecold and cough, it also helps in improving indigestion, arthritis, rheumatism,hypertension, constipation, ulcers, and atherosclerosis. Therefore the globalginger market is projected to enjoy the advantage of a number of positivefactors to increase demand in the foreseeable future. In the coming years, theginger market is expected see a steady expansion in its application base frommedicine to alcohol and beverages, which will boost the overall consumption ofginger globally.
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Some C19-TRENDsthat TMR has focused upon while analyzing the food and beverage sector are asfollows:
CulinaryTourism
With the COVID-19outbreak limiting the number of traveling and dining opportunities forindividuals, many opt to experience the fun of a restaurant or destination atthe comfort of their homes. Ready-to-drink beverages are being focused upon toenable the consumers to feel the vibe of a particular destination. This aspectwill churn exponential growth.
Immunity-BoostingItems
A good immunitycan help individuals tackle COVID-19 with ease. Many consumers are switching toimmunity-boosting food and beverage items for improving their resistanceagainst further infections. Many well-established players are paying attentionon launching immunity-rich food and beverage products. This factor will attractpromising revenues.
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