- Sales prospects for pharma, food, and nutraceutical items through various online platforms are generating revenue streams for firms in the ginger oleoresin market
- Market participants are also investing in R&D to develop extraction technologies such as SCFE and solvent extraction in order to produce improved oleoresin items
ALBANY, N.Y., April 25, 2022 /PRNewswire/ — The value of the global ginger oleoresin market is estimated to value US$ 17.3 Mn in 2022. The global market is likely to rise at a CAGR of 10.4% during the forecast period, from 2022 to 2032. The global ginger oleoresin market is anticipated to attain the valuation of US$ 46.7 Mn by the end of 2032. Following the COVID-19 pandemic, players in the global ginger oleoresin market are generating revenue streams through the sales of nutraceutical, pharma, and food products on social media and eCommerce sites. Influencer marketing is drawing the interest of ginger oleoresin producers who are shifting their focus away from traditional marketing and promotion.
Companies in the global ginger oleoresin market are likely to benefit from the growing HoReCa (Hotels, Restaurants, and Café) business, which provides consistent revenue sources. Market growth is being aided by rising demand for organic food items. Despite the fact that the demand for organic ginger oleoresins is expected to increase at an accelerated pace, standard ginger oleoresins now control more than 90% of the global market. As a result, companies are broadening their product lines to increase their revenue sources.
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Based on end use, the food & beverage (F&B) industry segment accounts for around 494 MT and is expected to grow to 1,242 MT by 2032. The demand for ginger oleoresin is being fueled by mass production of gingerbread, alcoholic beverages, and ginger ale.
Key Findings of Market Report
- Nutraceuticals containing ginger oleoresin are becoming increasingly popular among health-conscious customers. Spending on natural product is increasing due to a host of factors, the most significant being growing awareness regarding health. As a result of growing literacy rate and urbanization, customers have grown more informed about their choices.
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- Food and flavoring producers are constantly on the search for organic ingredients to include in their offerings. Ingredients that are low-cost, easy-to-handle, and efficient are particularly appealing to them. The essence of essential oils and oleoresins is not the only basis for their rising usage in different end industries; the level of convenience such ingredients provide to users is also likely to assist in market expansion. Yearly availability, operational flexibility, and shelf life of these flexible ingredients are key parameters that enable market expansion.
- Aside from the food & beverage business, producers are pursuing revenue prospects in aromatherapy applications, as medicinal products evolve in tandem with customer preferences. Higher standard of living and disposable income in the Asia Pacific region are estimated to drive the global ginger oleoresin market.
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Global Ginger Oleoresin Market: Growth Drivers
- Aromatherapy, although being one of the earliest therapeutic treatments, is gaining traction in science and medicine due to its demonstrated effectiveness, higher disposable income, and better standard of living. The growing popularity of essential oils produced from oleoresins bodes well for the future expansion of the global ginger oleoresin market.
- Health-conscious customers are becoming more aware of the health advantages of ginger oleoresins. Expansion of the global ginger oleoresin market is being fueled by consumer knowledge of the benefits of oleoresins in relieving colic flatulence, urinary tract infections (UTIs), reducing cancer risk, joint & muscular pain, digestive difficulties, and various other ailments.
Global Ginger Oleoresin Market: Key Competitors
- Bioingredia Natural Pvt Ltd.
- Manohar Botanical Extracts Pvt. Ltd.
- Synthite Industries Ltd.
- BOS Natural Flavors Pvt. Ltd.
- AVT Natural Products Limited
- Ozone Naturals
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Global Ginger Oleoresin Market: Segmentation
- Food & Beverage Industry
- Business to Business (B2B)
- Business to Consumer (B2C)
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