Future Market Insights’ research indicates that the Ginger Oil Market will grow at a CAGR of 3.4% over the forecasted time frame. The predicted market size for the industry will rise from US$ 11.8 billion in 2023 to US$ 16.5 billion in 2033. By the end of 2022, the ginger oil market was worth $11.2 billion USD.
Ginger is the underground stem or rhizome of a perennial herb, which is used as a spice, preservative, and as a medicine. Ginger oil is spicy, warm, and energizing oil, extracted from a pungent ginger root. It is used to treat upset stomach, nausea, respiratory conditions menstrual disorders, and inflammation.
It is also used as aromatherapy, to bring on feelings of self-assurance and courageousness which is why it’s known as “the oil of empowerment.” Ginger oil works as laxative, an antiseptic, tonic and stimulant and hence used in various pharmaceutical products. It has been used as a medicine since ancient times.
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Market Segmentation:
Ginger oil market is segmented on the basis of its applications in different industries as food and beverage industry, pharmaceutical, personal care industry and other applications. In food and beverage industry ginger oil is used for flavor and seasoning purpose, in confectionery beverages and bakery products .it is widely used as flavor for cake, cookies and biscuits, ginger snaps etc. In non-alcoholic beverages ginger oil market demand is high.
Due to its medicinal properties ginger oil is being used in treatment of several disease conditions since long time. Looking at several applications of ginger oil in treatment of stomach problem such as nausea and vomiting, diarrhea, food poisoning, gastric ulcer, headache, asthma, migraine, inflammation and many more conditions, ginger oil is used in various pharmaceutical products. Ginger oil is essential in hair care for curing dandruff and used in personal care products. As ginger oil is stimulating and therefore relieves depression, mental stress, dizziness, exhaustion, restlessness and anxiety, thus used in aromatherapy and Ayurveda.
Ginger oil market is further segmented on basis of extraction methods such as steam distillation and solvent extraction. Solvent extraction is used for the extraction of ginger oleoresin, and steam distillation is used to get ginger essential oil.
Ginger oil market is further segmented on the basis of regions as North America, Western Europe, Eastern Europe, Latin America, Asia Pacific Excluding Japan, Japan, and Middle East and Africa.
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Market Regional Outlook:
In regional markets Asia Pacific is the largest producer of the ginger and hence possess high production shares ginger oil market. India is the leading producer of ginger oil and dominates the ginger oil market with almost half shares out of total market. China is also known for ginger production and trade of ginger oil. Asia Pacific mainly exports ginger oil to North America and European markets.
Market Drivers and Trends:
Increasing number of health conscious consumers, and their demands for natural oils and extracts based products is the major factor driving growth for essential oils and in turn ginger oil market. Ginger is majorly used in spices and thus ginger oils and oleoresins are preferred to prepared dried spices as flavoring in food industry, because they are more stable, contamination free , cleaner, , and can be easily standardized by blending. Thus the growth of food industry and spices demand are another factors driving growth of ginger oil market. The growth of natural personal care products industry is another growth driver for ginger oil market.
Ayurveda treatments and aromatherapy are new trends in the market. Changed and hectic life style is causing mental stress, anxiety and other health issues, where aromatherapy and Ayurveda are preferred solutions my consumers. Ginger oil is used in natural medicines as well as in aromatherapy with other essential oils, this is another factor driving market growth of ginger oil.
Ginger oil Market Key Players:
The ginger oil market is mainly driven by major plyers in essential oils. Key players in ginger oil market includes AOS Products Private Limited, Manohar Botanical extracts PVT.LTD, The Lebermuth Company, Synthite, suppliers includes Mother Herbs Pvt.Ltd, Kama Ayurveda, S.N.N Natural Products, Herbal Bio solutions, GR herbals, Aravali Essential Oils and Fragrances etc.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
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