Ginger Extract Market

Ginger Extract Market Industry Overview:

Ginger extract can be defined as an extract of the rhizome of the perennial plant Zingiber officinale. Ginger extract contains various different phenolic compounds which possesses superior antineoplastic, antioxidant, antiemetic and anti-inflammatory properties. Ginger spice has been widely used to treat nausea, indigestion, and vomiting.  Ginger is pungent and spicy and can add a nice complexity to many beer styles. The global ginger extract market was valued at around USD 1.1 billion in 2022 and is expected to register a CAGR of 5.1% during the review period to reach to around USD 1.6 billion by end of 2030.

Ginger Extract Market Segmentation:

By type, the global ginger extract market has been segmented into organic and conventional. The organic segment accounted for the largest market share in 2022 and is expected to register significant growth during the review period. The organic ginger extract is produced via the mechanical cold pressing of the dried, Nepalese ginger which do not involves any usage of chemicals or alcohol. The organic ginger extract is being widely used in naturopathy, food, and personal care & cosmetics industries. The organic ginger extract is suitable for mixtures with various ingredients including clove, sandalwood, patchouli, vetiver, cinnamon, frankincense, and citrus oils such as bergamot, orlemon and petitgrain.

By form, the global ginger extract market has been segmented into powder and liquid. The powder form ginger extract accounted for the largest market share in 2022 and is expected to register significant growth during the review period. The power extract is obtained from the dried ginger root. The powder is fine off-white or slightly brownish powder and it has a strong aroma and a pungent flavour. Liquid ginger extract is likely to grow at a considerable CAGR during the review period.

By application, the global ginger extract market has been segmented into food & beverages, pharmaceuticals & nutraceuticals, personal care and others. The food & beverages segment accounted for the largest market share in 2022 and is expected to grow at a significant CAGR during the review period. The segment growth can be attributed to its widespread use as a spice and flavouring agent in the food & beverages. It is being widely used in soft drinks, energy drinks, beer mix, confectionaries and ice cream among others. The pharmaceuticals & nutraceuticals segment is expected to exhibit considerable growth during the review period due to its increasing use as an additive in the pharmaceutical applications.

Ginger Extract Market Dynamics and Factors:

The growth of the global ginger extract market is primarily driven by significant growth of the food & beverage and pharmaceutical industries. Growing food & beverage industry with increasing demand for functional food & beverages across geographies is likely to drive the ginger extract market growth. Significant growth of the pharmaceuticals industry with rising consumption of dietary supplements is expected to bolster the ginger extract market growth at a substantial rate during the review period.

Growing personal care and cosmetics industry in the developing countries with surging demand for natural products is likely to create lucrative opportunities for the players operating in the global ginger extract market during the forecast period.

However, high dependence on climatic conditions for ginger cultivation is likely to hamper the ginger extract market growth.

Ginger Extract Market Geographical Analysis:

By geography, the ginger extract market has been segmented into North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa. The market in Asia-Pacific accounted for the largest share in 2018 and is expected to grow at a significant CAGR during the review period. China was the key revenue generating country in the region in 2022. The regional market growth can be attributed to expanding growth of the end-use industries including food & beverage, pharmaceuticals and personal care & cosmetics.  Expanding populace in the developing countries particularly China and India is expected to boost the demand for ginger extract. In addition to this, growing pharmaceutical industry with rising spending on dietary supplements coupled with increasing health consciousness and per capita disposable income of the consumers is likely to add to the market growth exponentially. Furthermore, presence of key ginger-producing countries such as Thailand, Nepal, India, and China are propelling the market growth significantly in the region.

The market growth in North America is driven by the established presence of the end-use industries particularly pharmaceuticals and food & beverage. In addition to this, high consumption rate of dietary supplements and functional food & beverages due to rising prevalence of chronic diseases is driving the market growth in the region.

The European market is expected to grow at a considerable CAGR on account of increasing product demand in the key end-use industries. Germany was the largest revenue generating country in the region. Growing demand for natural personal care and cosmetics is expected to bolster the regional growth during the review period.

The market in Latin America and the Middle East & Africa is expected to be driven by the growth of the major end-use industries. Increasing spending on healthcare and natural beauty products is likely to add to the market substantially in these regions.

Ginger Extract Market Report Scope

Key Market Segmentation

Ginger Extract Market - By Product Type

 o   Organic

 o   Conventional

Ginger Extract Market - By Form

 o   Power

 o   Liquid

Ginger Extract Market - By Application

 o   Food & Beverages

 o   Pharmaceuticals & Nutraceuticals

 o   Personal Care

 o   Others

Ginger Extract Market - By Region

North America

 o   US

 o   Canada

 o   Mexico

Europe

 o   Germany

 o    UK

 o    France

 o    Italy

 o   Spain

 o   Russia

 o   Benelux

 o   Nordics

 o   Rest of Europe

 Asia-Pacific

 o    China

 o    India

 o    Japan

 o    South Korea

 o    Rest of Asia-Pacific

 Middle East and Africa

 South America