In 2023, the size of the Global Ginger Market was evaluated at USD 4.5 billion, and is estimated to expand at a CAGR of around 6.9% between 2024 to 2030. The market growth would be propelled principally by the rising awareness among the customers about the culinary uses and benefits of ginger and its rising numbers of nutraceutical and medicinal uses.
Moreover, ginger is recognized worldwide for its health advantages owing to its anti-inflammatory properties, digestive benefits, and its use in making of traditional medicine applications. Also, consumers are constantly seeking functional foods, and remedies to support their well-being, and ginger well-aligns with these preferences, and these is these are the reasons why the demand for ginger is constantly increasing.
Rise in the Usage of Ginger in Various Dishes is Diving the Demand for Ginger in the Market
The widespread usage of ginger in the production of multiple dishes, including baked items, sauces, snacks, and soups is increasing the demand for ginger in the industry. Moreover, it is used in the baking industry to make some popular dishes such as ginger cookies, and gingerbread. Moreover, the trend of holistic well-being is further surging the use of ginger oil owing to its anti-inflammatory properties, and antioxidants, enabling it to function as an immune system modulator while relieving symptoms related to inflammation.
Furthermore, the rising use of ginger in the cosmetics industry and personal care industry, which further anticipated to further increase the demand for ginger in the upcoming years.
Fresh Ginger Dominates the Global Ginger Industry by Occupying the Largest Share in the Market
On the basis of forms of ginger, gingers are available in different forms including: Oil, Fresh, Dried, and powdered. However, the fresh ginger dominates the market with the largest share, owing majorly to its extensive utilization and consumption in several culinary and medicinal applications. Moreover, ginger is quite versatile, and is used in a wide range of cuisines globally.
For centuries, fresh ginger has been valued for its medicinal properties, and is being used commonly in traditional medicine systems, such as TCM & Ayurveda, owing principally to its anti-inflammatory, digestive, and immune-boosting benefits. Thus, the wise usage of fresh ginger in natural health practices, and herbal remedies is contributing to its massive demand, and in turn, increasing the growth in the global ginger industry.
Key Players of the Global Ginger Industry
There are numerous participants in the Global Ginger Market. However, as per the recent report of MarkNtel Advisor, the leading players of the ginger market are: Indian Organic Farmers Producer Co. Ltd., Huaguang Group, Olam Spices, Canadian Ginger Company, KODGAV, Knitspice, Buderim Group Limited, Sino Nature International Co Ltd, Monterey Bay Spice Co. Inc., and others.
Latest Development in the Global Ginger Market
- In April 2022, the Meghalaya government started the ‘Ginger Mission’ which aims to double the production of ginger 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 MP per annum.
India in the Asia Pacific Region Dominates the Global Ginger Market
Geographically, the Global Ginger Market expands across the following regions:
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
Out of all the regions, Asia Pacific, majorly India, holds a prominent share in the Global Ginger Industry. Asia Pacific is home to major ginger-producing countries such the India, China, Thailand, Indonesia, and Vietnam, which have favourable climatic conditions, and suitable agriculture practices for cultivating ginger. Thus, the extensive cultivation areas and large-scale production of ginger in these countries are the prime aspects contributing notably to the regional growth of the market.