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Ginger Market to Grow at 6.50% CAGR with Increasing Global Popularity Regarding its Medicinal Benefits
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According to the report, the global ginger market is expected to reach a valuation of US$4.18 bn by the end of 2022; the market is expected to expand at a 6.5% CAGR during the forecast period of 2017 to 2022. Asia Pacific to remain the Leader in Global Ginger Market
The report segments the global ginger market t based on the form of ginger into fresh, pickled, dried, preserved, powdered, and crystallized. Among all these forms, fresh ginger is the most preferred market form. The segment presently accounts for the dominant share in terms of valuation in the overall market and is expected to exhibit a CAGR of 7.30% over the report’s forecast period. Global ginger market is further segmented on the basis of application, distribution channel and region.
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Geographically, Asia Pacific excluding Japan (APEJ) is the leading regional market. It is expected to expand at a CAGR of 7.10% over the forecast period. In the Asian market India and China are drawing enormous amount of medical tourism for which ginger is a key medical spice. Thus, the rise in medical tourism activities has provided a significant push for the APEJ market and is likely to remain a key growth factor for the regional market over the forecast period as well. Other regions are also making effective measures to increase the production of spices, especially ginger, with the increasing medical awareness regarding organic substances.
Multi-remedial Nature of Ginger allows its Increased Adoption
The global ginger market has gained immense popularity in the recent years as the spice helps in curing multiple diseases like cancer, nausea, cardiovascular diseases and diabetes. Apart from being a remedy form regular infections like cold and cough, it also helps in improving indigestion, arthritis, rheumatism, hypertension, constipation, ulcers, and atherosclerosis. Therefore the global ginger market is projected to enjoy the advantage of a number of positive factors to increase demand in the foreseeable future. In the coming years, the ginger market is expected see a steady expansion in its application base from medicine to alcohol and beverages, which will boost the overall consumption of ginger globally.
Get more Information: https://globenewswire.com/news-release/2017/10/16/1147997/0/en/Global-Ginger-Market-to-touch-US-4-18-Billion-by-2022-Transparency-Market-Research.html
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