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 gingermarket has multiple players, owing to which the vendorlandscape is fragmented and is competitive in nature. The dominant players inthe global ginger market are Yummy Food Industrial Group, Sun ImpexInternational Foods L.L.C., Archer-Daniels-Midland Co., Indian Organic FarmersProducer Co. Ltd., Monterey Bay Spice Co. Inc., Buderim Group Ltd., SA RawtherSpices Pvt. Ltd, Atmiya International, Food Market Management Inc., andSino-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.
AsiaPacific to remain the Leader in 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-remedial Nature of Gingerallows its Increased Adoption
The globalginger market has gained immense popularity in the recent years as the spicehelps in curing multiple diseases like cancer, nausea, cardiovascular diseasesand diabetes. Apart from being a remedy form regular infections like cold andcough, 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 resistance againstfurther infections. Many well-established players are paying attention onlaunching immunity-rich food and beverage products. This factor will attractpromising revenues.
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