Market Highlights
Global Ginger Extract Market is estimated to be valued at USD 1,320.3 Million by 2025, registering a CAGR of 5.1% during the forecast period. Ginger extract is a substance extracted from ginger; it contains several phenolic compounds. It is widely used for its flavoring and medicinal properties in various industries.
Asia-Pacific was the largest market for ginger extract in 2020, and the region is expected to continue to dominate the global market during the review period. The rapid growth of the food & beverage industry in developing countries such as China and India and the increasing demand for natural ingredients is projected to boost the growth of the ginger extract market.
Europe market accounted for a significant share in 2020 of the global ginger extract market. European countries including the UK, Germany, and the Netherlands are among the top importers of ginger. Healthy living is an important trend in Europe which is projected to boost the sales of ginger extract in the coming years.
Ginger extract is available in several forms including powder, liquid, and paste. The use of ginger extract is increasing rapidly in ready-to-eat food products. Ginger paste is especially gaining traction among food manufacturers. The ginger extract also finds application in several non-alcoholic beverages. Herbal tea infused with ginger is widely preferred across the globe. Also, the consumption of dietary supplements has been rising over the last few years and the market is expected to register exponential growth in the near future, which is projected to boost the growth of the ginger extract market.
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Segment Analysis
Global Ginger Extract Market has been segmented on the basis of category, form, application, and region.
By category, the market has been divided into organic and conventional. The conventional segment accounted for a larger market share in 2020. Conventional ginger extract is derived from ginger grown using conventional farming practices. Owing to the low adoption of organic farming practices in several developing nations, the conventional segment accounts for the larger revenue share. However, organic segment is projected to exhibit higher CAGR during the forecast period.
Based on the form, the market has been segmented into powder and liquid. The powder segment accounted for the larger market share in 2020 due to the high consumption of ginger powder extract as a flavoring ingredient in gingerbread, cookies, crackers, cakes, ginger ale, and ginger beer, among other applications. However, the liquid segment is projected to exhibit a higher growth rate during the review period owing to the increasing preference for ginger oil extract in the food industry as it is stable, contamination-free, and clean.
Key Players
Market Research Future Recognizes Archer Daniels Midland Company (US), International Flavors & Fragrances Inc. (US), Flavex Naturextrakte GmbH (Germany), Inner Natural Ingredients Inc. (China), Naturex SA (France), Honsea Sunshine Biotech (China), Greenutra Resource Inc (China), KANEGRADE (UK), Naturalin Bio-Resources Co., Ltd (China), and Nutra Green Biotechnology Co., Ltd (China) as the Key Players in the Global Ginger Extract Market.
Regional Analysis
Geographically, the Global Ginger Extract Market has been segregated into North America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis, Asia-Pacific accounted for the dominant share of the global market in 2020 with China being the major consumer of ginger extract. The European ginger extract market also accounted for a significant share in 2020. The rising demand for herbal medicinal products and supplements is projected to boost the growth of the ginger extract market in North America. In the Middle East, the Gulf Cooperation Council countries are projected to contribute significantly to the growth of the ginger extract market.
Key Findings of the Study
The Global Ginger Extract Market is expected to register a growth rate of 5.1% from 2019 to 2025.
The pharmaceuticals & nutraceuticals segment is estimated to register the highest growth rate of 5.4% during the forecast period.
Based on category, the conventional segment is expected to hold a larger market share during the forecast period.
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This release was published on openPR.
