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Ginger Market Report 2024-2033: Size, Share, Growth, Trends, Analysis, Demand, Forecast, Competitive Landscape
Ginger Market
As per the report, the ginger market size has grown strongly in recent years. It will grow from $4.62 billion in 2023 to $4.88 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The ginger market size is expected to see strong growth in the next few years. It will grow to $6.19 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%.
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The Surging Demand For Ready-To-Drink Cocktails Is Driving The Ginger Market
The growing demand for ready-to-drink cocktails is expected to propel the growth of the ginger market going forward. Ready-to-drink cocktails are pre-mixed alcoholic beverages that require no additional preparation and can be consumed straight from the bottle or can. The demand for ready-to-drink cocktails is on the rise as consumers seek convenient yet flavorful options for their drinking preferences. Ginger is used in ready-to-drink beverages to add a zesty and invigorating flavor profile. It also adds complexity to cocktail recipes, balancing out other flavors and providing depth.For instance, in February 2024, according to the Distilled Spirits Council (DISCUS), a US-based academy offering education and training in distilled spirits, there was a significant growth of revenue of the US ready-to-drink (RTD) category, particularly premixed cocktails including spirits ready-to-drink, which was up 26.8% or $599 million to $2.8 billion in 2023. Therefore, the growing demand for ready-to-drink cocktails is driving the growth of the ginger market.
Exploring Innovations And Technologies For Shaping The Future
Major companies operating in the ginger market are developing innovative products, such as fast-acting ginger extracts, to support joint health and mobility. A fast-acting ginger extract is a concentrated form of ginger that quickly delivers its beneficial effects upon consumption. For instance, in June 2022, Specnova, a US-based dietar*y supplemen*t ingredient supplier, launched GingerT3, an organic, fermented ginger extract aimed at joint support. It's a fast-acting formula with high potency, offering low doses (75-125mg) for easy formulation. GingerT3 inhibits pain receptors and inflammatory enzymes, promoting joint health by targeting TRPV1 (Transient Receptor Potential Vanilloid 1), 5-LOX (5-Lipoxygenase) , and COX (Cyclooxygenase). It's designed for easy incorporation into various products, including gummi*es, chews, capsules, and functional foods.
The ginger market covered in this report is segmented -
1) By Type: Conventional, Organic
2) By Form: Fresh Ginger, Dried Ginger, Ginger Oil, Powdered Ginger
3) By Distribution Channel: Traditional Retail, Modern Retail Stores, Other Distributions
4) By Application: Food Industry, Pharmaceuticals Industry, Cosmetics Industry, Other Applications
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Major companies operating in the ginger market report are Nestle SA, Archer-Daniels-Midland Co., Olam Group, McCormick & Co. Inc, Kalsec Inc., Frontier Co-op., Capital Foods Ltd., Buderim Group Ltd., The Ginger People, Laird Superfood Inc., JEGS HIGH PERFORMANCE, Sun Impex International Foods L.L.C., Yummy Food Industrial Group, Monterey Bay Spice Co. Inc., Indian Organic Farmers Producer Co. Ltd., Sino-Nature International Co. Ltd., AKO GmbH, GROTEX, NANI Agro Foods Pvt. Ltd., Organic Mountain Flavor Pvt. Ltd., Canadian Ginger Company, Knitspice, BRL foods, KODGAV, Huaguang Group
Contents of the report:
1. Executive Summary
2. Ginger Market Report Structure
3. Ginger Market Trends And Strategies
4. Ginger Market - Macro Economic Scenario
5. Ginger Market Size And Growth
…..
27. Ginger Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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