Ginger Processing Market Value is Projected to Reach US$ 3 Billion by 2023
by IVO Smith Business Analyst
According to the latest report by IMARC Group, titled “Ginger Processing Market Report: Share, Size, Growth, Opportunity and Forecast 2018-2023”, the market reached a value of around US$ 2 Billion in 2017, exhibiting a CAGR of around 10% during 2010-2017. Ginger is regarded as one of the most widely used dietary condiments which is commonly added in Asian cuisines owing to its pungent aroma and peppery flavor. The aroma of ginger results from the presence of ketones, particularly gingerols, which are the main bioactive compounds with powerful anti-inflammatory and antioxidant properties. Some of the nutrients which are abundantly found in ginger include magnesium, phosphorus, zinc, folate, riboflavin and vitamin B6. Owing to this, ginger has been used for various medicinal applications like minimizing the risk of diabetes, obesity and heart diseases as well as relieving nausea, motion sickness and loss of appetite.
Global Ginger Processing Market Trends:
On account of its distinct taste and health benefits, processed ginger products like powder, pulp, syrup, oil and candy are extensively used in the food and beverage industry. Amongst these, ginger powder is employed as a flavoring agent in tomato ketchup, pickles, curry dishes, meat sausages and salad dressings. Increasing health consciousness amongst the consumers across the globe is propelling the demand for healthy food products. As a result, several products like digestive drinks and ginger tea are being introduced by the manufacturers. Besides this, ginger juice is used in several medicines in the pharmaceuticals industry, and ginger oil is included in cough relief tables and syrups as well as for treating different skin disorders in the cosmetics industry. Some of the other growth-inducing factors include easy availability of raw materials, low capital investments, rising urbanization, growing population and expanding fast food chains. Looking forward, the market value is projected to reach US$ 3 Billion by 2023.
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Created on Aug 14th 2019 05:45. Viewed 214 times.