Ginger Extract Market-Overview
The surge in the intake of supplements to reduce the possibility of COVID-19 infection is estimated to bolster the ginger extract market in the impending period. The mushrooming demand from the food beverage industry for ginger extracts is predicted to alter the ginger extract sales in the approaching period.
The stable development in the nutraceutical industries is estimated to augment the ginger extract industry. The food, beverages nutrition industry reports are designed by Market Research Future, highlighting market prospects for evolution. Ginger Extract Market Size is anticipated to reach USD 1530.06 Million by 2030, registering a CAGR of 5.4% during 2022-2030
Detailed Regional Analysis
The regions scrutinized in the ginger extract market are Europe, Asia Pacific, North America, and other remarkable regional markets. The Asia Pacific ginger extract market is foreseen to control 34.5% in the market in 2022. The Asia Pacific region is the base for the highest ginger-producing countries such as China, India, Nepal, and Thailand. China had the mainstream regional market share, and the country-level market is anticipated to mature substantially in the forecast period. The European ginger extract market was responsible for a noteworthy segment of the global ginger extract market in 2022. The European national markets such as Germany, the UK, and the Netherlands are among the topmost ginger importers. The intensifying requirement for natural ingredients in numerous industries such as nutraceuticals, food beverages, and personal care is compelling the evolution of the North American region's ginger extract market. The budding prerequisite for natural health-benefiting elements in food beverages is a factor for the South American regional market's progress, with Brazil reporting an important ginger extract market share.
Segmental Analysis
The segments included in understanding the growth of the ginger extract market are carried out based on category, application, and region. The category segment of the ginger extract market consists of organic and conventional. The form segment of the ginger extract market comprises of powder and liquid. The regions included in the ginger extract market are Europe, Asia Pacific, North America, and other remarkable regional markets. The ginger extract market's application segment consists of food beverages, pharmaceuticals nutraceuticals, personal care, and others.
Competitive Analysis
The revision of supply chain comments is estimated to have a conducive effect on the long-term expansion of the players operating in the market. The market is estimated to draw heavily from the market cues on a global scale while monitoring their consumer base in the forecast period. The influence of government backup is foreseen to have a fortifying effect on the market's development in diverse markets worldwide. The microeconomic level improvement is estimated to have its presence felt on the global level as companies are driven to undertake new ventures for growth. The positive response to the development of a COVID-19 vaccine is estimated to provide further reassurance to the companies regarding their future progress. The large-scale integration of technology in various areas of the market is predicted to lead the global ginger extract market outlook to new efficiency levels in the forecast period. The market players are also assessed to take a venture into broadening their commercial interests through the upcoming period with several smaller businesses unable to maintain financial viability.
Key Players:
The renowned companies functioning in the ginger extract market are Hornsea Sunshine Biotech (China), Flavex Naturextrakte GmbH (Germany), International Flavors Fragrances Inc. (US), Inner Natural Ingredients Inc. (China), Greenutra Resource Inc (China), Archer Daniels Midland Company (US), KANEGRADE (UK), Naturalin Bio-Resources Co., Ltd (China), Naturex SA (France), and Nutra Green Biotechnology Co., Ltd (China).
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