Ginger Oil Market is Anticipated to Witness High Growth Owing to Rising Consumer Preference for Natural Ingredients
It has antioxidant and anti-inflammatory properties that aid in treating nausea, reducing arthritis pain, and easing menstrual cramps. The oil is gaining traction from health-conscious consumers looking for plant-derived products with medicinal values.
The global ginger oil market is estimated to be valued at US$ 14.54 Bn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period of 2024 to 2031.
Key Takeaways
Key players operating in the ginger oil market are Katyani Exports, Universal Olioresins, AOS Product Pvt. Ltd., Phoenix Aromas (Nanjing) Co. Ltd., Alchem International Ltd., Kancor Industries, Frutarom, Chr. Hansen, Biomax Life Sciences Limited, Firmenich, A.G. Organica, Aadhunik Ayurveda, Hindustan Mint and Agro Products Pvt. Ltd., Avi Naturals, Anjum Aromatics, Moksha Lifestyle, Sidus Natural Products P Ltd., Rakesh Sandal Industries (Rakesh Group), Shubham Natural Fragrances, Fancy India Corp.
The key opportunities in the Ginger Oil Market Size include its emerging applications in the food industry for culinary purposes, increasing use in aromatherapy due to various health benefits, and rising popularity in natural personal care products. Global market players are focusing on expanding their production facilities and distribution networks across Asia Pacific, North America, and Europe to cater to the growing demand.
Market Drivers
The main driver for the ginger oil market is the rising consumer preference for natural ingredients owing to increasing health concerns. Ginger oil offers several therapeutic properties and is a popular alternative to synthetic compounds. Additionally, growth in the food & beverage industry utilizing ginger oil as a flavoring agent is also propelling the market forward.
Market Restraints
High production and transportation costs associated with ginger cultivation act as a restraint. Since ginger is geographically constrained and seasonal, meeting the evolving global demand poses challenges. Fluctuations in ginger crop yields and prices further impact the stability and affordability of ginger oil. Substitute ingredients and essential oils also restrict the market's potential.
Segment Analysis
The ginger oil market is segmented based on types such as organic and conventional. The organic ginger oil segment currently dominates the market due to increasing demand for chemical-free personal care and food products. Consumers are willing to pay premium prices for organic ginger oil due to perceived health benefits.
The market is also segmented by applications into food, beverages, pharmaceuticals, and others. The food segment holds the largest market share as ginger oil is widely used in culinary applications such as seasoning, sauces, soups, and curries. The beverages segment is growing rapidly due to the increasing use of ginger oil in teas, syrups, soft drinks, and alcoholic beverages for flavoring.
Global Analysis
Regionally, Asia Pacific is the largest and fastest growing market for ginger oil. Countries such as India, China, Japan, and Indonesia produce large quantities of ginger crops leading to supply abundance. Ginger has deep cultural significance as a medicinal ingredient in traditional cuisines of these countries driving high ginger oil consumption.
Europe is another major regional market led by demand from Germany, UK, France, and Italy. Rising health consciousness and focus on natural ingredients in the food industry are boosting ginger oil adoption. Standards for organic certification and quality checks are stringent in Europe benefiting organic ginger oil producers.
North America is witnessing substantial growth underpinned by increased application of ginger oil in dietary supplements, personal care products, and herbal medicines. Changing lifestyles, prevalence of digestive issues, and focus on preventive healthcare represent opportunities in the region.
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