Dried Ginger Market Size (2023 – 2030)

The Global Dried Ginger Market was valued at USD 1.5 billion and is projected to reach a market size of USD 2.39 billion by the end of 2030. Over the forecast period of 2023-2030, the market is projected to grow at a CAGR of 6%. 

Dried ginger is commonly used in meals, drinks, and other food items. This has always been greatly valued owing to the medicinal and health benefits it offers. With developing economies and agricultural improvements continuously being carried out a lot of revenue is being generated by many end-user industries. Recent trends toward the consumption of healthy and organic food, rising demand, innovations, etc. have caused good growth in the market. During the forecast period, this market is expected to show notable growth.

Key Market Insights:

• Global export volumes of dried ginger reached approximately 200,000 metric tons in 2020.

• In 2021, a survey was conducted which showed an upsurge in the demand for various ginger supplements.

• Export trade has increased by approximately 15% in the past couple of years.

• Because of its distinct flavor and possible health advantages, ginger-flavored was preferred by around 70% of respondents.

• Adherence to certain quality standards is one of the major issues. To tackle this, the food & and beverage industry is leaning towards various certifications and tests for a better yield and produce.

Dried Ginger Market Drivers:

Health benefits associated with dried ginger are the major driver driving the market growth.

Dried ginger helps in lowering cholesterol, aids digestion, eases menstrual pain, cures the common cold, manages diabetes, reduces inflammation, improves circulation, facilitates weight management, boosts the immune system, and alleviates nausea and morning sickness during pregnancy. There is ongoing research to broaden the human knowledge is this spice helps in cancer prevention. All these properties make it a suitable choice to be used in the food and beverage industry. They are used in day-to-day meals in many Asian countries. Moreover, the presence of numerous antioxidants helps in the protection of the skin from various dermatological disorders. Additionally, it helps in acne reduction. Therefore, it is used extensively in the personal care and cosmetics industry as well. All these factors play a huge role in boosting the demand for dried ginger in the market.

Rising demand aids the market expansion.

Spices are a very popular choice in Asian food. Countries like India, China, South Korea, and Japan use dried ginger in beverages, meals, refreshing drinks, etc. Moreover, innovations are continuously being carried out to improve the existing cuisine and to find new tastes. Recent awareness and shift towards the consumption of clean-label food has helped the market. The food & beverage industry benefits from these food products. These foods become a local cuisine and hence a tourist attraction. This helps to strengthen the economy of nations. Import-export trade in the country has seen a tremendous enhancement. Employment opportunities are created in various sectors. Furthermore, research activities are being carried out to broaden human understanding about the potential benefits it offers for human health.

Dried Ginger Market Restraints and Challenges:

Weather conditions, less produce, price volatility, quality control, and adhering to various standards are the major barriers in the market.

Weather conditions are one of the major issues the market is currently facing. Drought, soil conditions, and floods are a few issues that need to be tackled. Secondly, lower yield can demotivate the farmers from the cultivation of the spice. Thirdly, price variation is another severe issue that can discourage consumers. Moreover, quality control can be often neglected. Furthermore, trade policies and Governmental rules & regulations can hamper the market growth.

Dried Ginger Market Opportunities:

Growing awareness about the importance of organic farming is going to present the industry with a huge demand. R&D operations are underway to create innovative formulations to help in a variety of applications. Investments as well as cash from investors and governmental schemes set the ground for growth. Additionally, dried ginger has a longer shelf life when compared to normal ginger which presents the market with an ample number of opportunities. Demand from diverse end-user industries contributes to market expansion. Furthermore, increased output and consumption encourage import-export commerce and aid in economic growth.

DRIED GINGER MARKET REPORT COVERAGE:

Dried Ginger Market Segmentation: By Type

• Organic

• Conventional

Based on form, conventional is the largest growing type in this market. Conventional dried ginger is a popular choice because of factors like wider availability, cheaper price, broader consumer base, high cultivation, low production costs, and many more. It holds a share of more than 70%. The organic segment is expected to be the fastest-growing type. It occupies a total share ranging between 25% to 30%. Organic produce is a type of farming where no pesticides, chemicals, or other harmful substances are used. Organic products are healthier and a sustainable option. They help in the balance of the system. Due to rising awareness of the environment and sustainable living, this segment is projected to hold immense potential shortly.

Dried Ginger Market Segmentation: By Distribution Channel

• Supermarkets/Hypermarkets

• Online Retail

• Specialty Stores

• Others

Based on distribution channels, supermarkets/hypermarkets are the largest growing in this market. This is because of the wider option availability, face-to-face interaction, familiarity, convenience, larger consumer base, discounts & offers, and a fresher produce which can be obtained. They hold a share of around 50% of the total market. Online retail is the fastest growing holding a share of approximately 30%. Online shopping can be done from the comfort of our homes. They provide more options, accessibility of international supplies, deals, customer service, and delivery options. After the pandemic, digital transformation was the new shift causing many vendors to register on various websites providing an opportunity for the generation of revenue. During the forecast, period this segment is predicted to have a noteworthy enhancement.

Dried Ginger Market Segmentation: By Application

• Food & Beverage

• Pharmaceuticals & Nutraceuticals

• Personal Care & Cosmetics

• Others

Based on application, the food & beverage sector is the largest growing in this market. Dried ginger is associated with anti-inflammatory, antioxidant, and anti-emetic properties. This spice is a very apt choice for beverages and refreshing drinks. It is used in many meals for inculcating taste and flavor enhancement. Additionally, it is used as a seasoning agent as well. The health advantages play a huge role in the food & beverage industry generating incredible profits. They hold an estimated share of around 50% to 60% in this application. Pharmaceuticals & Nutraceuticals are the fastest growing application holding an approximate share of 20%. This is due to ginger's many therapeutic characteristics and the pharmaceutical industry's use of phenolic and terpene chemicals. Furthermore, there is ongoing research to explore the potential of this spice in controlling and preventing of diabetes, cardiovascular, neurological, and digestive disorders. Dried ginger has positive aspects like less moisture, stability, lesser weight, and higher concentration of certain biochemical compounds which is not found in normal ginger. This makes it an apt choice to be used in the pharmaceutical industry.

Dried Ginger Market Segmentation: Regional Analysis

• North America

• Asia-Pacific

• Europe

• South America

• Middle East and Africa

Based on region, Asia Pacific is the largest growing. As per a report Asia Pacific holds a share of around 35% for ginger produce. China, India, Thailand, and Vietnam are the world’s top producers to cultivate ginger. This is a common spice used in everyday meals. They are majorly incorporated in beverages and refreshments which are served as authentic cuisines. Favorable weather conditions and soil play a huge role as well. Moreover, the medical properties it offers have been a boon. Furthermore, consumer demand helps in growth. Europe is the fastest-growing region. As per a report, the Global Trade Magazine in 2020, announced about 197 thousand tonnes of ginger imported into Europe which was 13% higher than the number in 2019. Rising demand, health & wellness, trends, herbal cure, increased cultivation, and usage in meals are propelling the growth. European countries like the UK, Germany, France, and Spain are the leading regions.

COVID-19 Impact Analysis on the Global Dried Ginger Market:

The pandemic had a mixed impact on the market. Lockdown, social distancing, and self-isolation were the new norms. This affected the import-export trade, logistics, and transportation, and caused supply chain disruptions. As per a report, 85% of companies reported supply chain issues in all end-user industries. This caused an economic slowdown. Many industries and manufacturing units were shut down due to rules & and regulations. There was a lack of labor. However, the outbreak of the virus made people lean towards the consumption of homemade and healthy food. Ginger tea is known to prevent the common cold and strengthen the immune system. A majority of the population consumed this beverage to prevent any sort of illness. People of all age groups were encouraged to follow this step. With a shift towards E-commerce, selling challenges were being tackled and the market saw a prominent change.

Latest Trends/ Developments:

The companies in this market are motivated to achieve a higher market share by implementing different strategies, such as acquisitions, partnerships, and investments. Companies are also spending heftily to improve existing formulations alongside maintaining competitive pricing. This has further resulted in increased government engagement and further enlargement.

Many innovations are being carried out in the food & beverage industry to gain a wider consumer base. Testing is being carried out in desserts and ice creams. The pharmaceutical sector is increasingly focussing on research and developmental activities to broaden human understanding of dried ginger for future applications. The cosmetics industry is exploring the uses of various creams and gels for smoother skin.

Key Players:

1. Buderim Ginger

2. The Ginger People

3. McCormick & Company

4. Frontier Co-op

5. Nature's Best

6. Ricola

7. Prince of Peace

8. Badia Spices

9. Organic India

10. Morton & Bassett Spices

• In March 2022, Ginger Mission in the presence of Agriculture Minister Banteidor Lyngdoh at the Integrated Agriculture Training Centre, Shillong was announced. The mission aims to double the ginger production in the State to at least 1.5 lakh MT per annum in the next three years from its current production of about 60,000 MT per annum.

• In October 2021, MIA extended its ethical chocolate series with a vegan cashew ginger spice release. This focused on sustainability and enabling maximum benefit to local producers.