Global Dried Ginger Market Size to Grow At 6 % CAGR From 2023 to 2030

Global Dried Ginger Market Analysis (2023 - 2030)

As per our research report, the Global Dried Ginger Market size is estimated to be growing at a CAGR of 6% from 2023 to 2030.

Dried ginger is used in meals, drinks, and other food items. Ginger is valued for its medicinal and health benefits. With economic development and agricultural improvements continuously being carried out a lot of revenue is generated by many end-user industries. Dried ginger helps with cholesterol, digestion, menstrual pain, and the common cold, boosts the immune system, and diabetes, reduces inflammation, improves blood circulation, and weight management, and reduces nausea and morning sickness. Ginger is used in everyday meals in many Asian countries like India, and China. Ginger has antioxidant property which helps in the protection of the skin from various dermatological disorders. It also helps in acne reduction which is why it is used extensively in the personal care and cosmetics industry.

Spices are one of the popular choices in Asian food. Asian Countries like India, Sri Lanka, China, South Korea, and Japan use dried ginger in beverages, meals, refreshing drinks, etc. The food & beverage industry has benefited from these food products. These foods have become a local cuisine and a tourist attraction. In 2021, MIA extended its ethical chocolate series with a vegan cashew ginger spice release which focused on sustainability and enabling maximum benefit to local producers. In 2022, Ginger Mission in the presence of Agriculture Minister Banteidor Lyngdoh at the Integrated Agriculture Training Centre, Shillong was announced

COVID-19 had a different impact on the market. As Lockdown, social distancing, and self-isolation were the new norms. This affected the import-export trade, logistics, and transportation, and disturbed the supply chain. It was reported that 85% of companies, supply chains, have issues in all end-user industries which led to an economic slowdown. Many industries and manufacturing units were locked down due to government rules & and regulations. There was also a lack of labor. However, the Covid-19 virus made people lean towards the consumption of homemade and healthy food. Ginger tea is commonly known to prevent colds and help strengthen the immune system. This is the reason the majority of the population consumes this beverage to prevent any sort of illness.

KEY MARKET INSIGHTS:

Based on market segmentation by Type, the conventional segment is the largest type in this market. Conventional dried ginger is a popular choice due to its availability, cheaper price, high cultivation, and other reasons. Conventional holds more than 70% of the share. Due to Covid-19, People prefer natural and organic products. The organic segment is expected to grow faster in the forecasted period. The total share for the organic segment is from ranging between 25% to 30%. Organic products have no pesticides, chemicals, or other harmful substances and are healthier and a sustainable option. They help in the balance of the system. Increase awareness of the environment and sustainable lifestyle, this segment holds immense potential shortly.
Based on market segmentation by Distribution Channel, supermarkets/hypermarkets are the largest growing in this market. Face-to-face interaction, familiarity, convenience, a larger consumer base, discounts & and offers, and a fresher product that can be obtained. They hold a share of around 50% of the total market. Online retail is the fastest-growing segment and holds 30% of the share. After the pandemic, digital transformation caused many vendors to register on various websites providing an opportunity for generating revenue.
Based on market segmentation by Application, the food & and beverage sector is the largest growing in this market. Dried ginger is associated with anti-inflammatory, antioxidant, and antiemetic properties. This spice is a very apt choice for beverages and refreshing drinks. The health advantages play a huge role in the food & and beverage industry generating incredible profits. They hold an estimated share of around 50% to 60% in this application. Pharmaceuticals and nutraceuticals are the fastest-growing applications, holding approximately 20% of shares. This is due to ginger's many therapeutic characteristics and the pharmaceutical industry's use of phenolic and terpene chemicals.
Based on market segmentation by region, Asia Pacific is the largest growing region. Asia Pacific holds a share of around 35% of ginger produce. In the Asia-Pacific region India, China, Thailand, and Vietnam are the world’s top producers to cultivate ginger. This is a common spice in everyday meals. They are majorly used in beverages and refreshments which are served as authentic cuisines. Europe is the fastest-growing region. Rising demand, health & and wellness, trends, herbal cures, increased cultivation, and usage in meals led to the growth.
Companies playing a leading role in the Global Agrochemical Intermediates Market profiled in this report are –Buderim Ginger, Morton & Bassett Spices, Badia Spices, Frontier Co-op, Ricola, The Ginger People, Nature's Best, Prince of Peace, McCormick & Company, Organic India.