June 17, 2024
Ginger Oil Market

Ginger Oil Market is Transitioning towards Natural Flavoring due to Rising Health Consciousness

It has a warm, spicy and peppery flavor and is used in food, beverages and pharmaceutical industries. Ginger oil is known to aid digestion and reduce nausea. It also provides relief from joint and muscle pain due to its anti-inflammatory properties. Growing demand for natural ingredients in food and beverages is driving the use of ginger oil as a flavoring agent.

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 from 2024 to 2031.

Key Takeaways
Key players operating in the ginger oil market include 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.

Growing demand: Rising awareness regarding health benefits of Ginger Oil Market Size is fueling its demand in food & beverages, pharmaceutical and therapeutics industries. Especially after Covid-19, many people are opting for ginger oil for its immunity boosting properties.

Global expansion: Key players are expanding globally to tap opportunities in emerging markets of Asia Pacific and Latin America. Companies are investing in R&D and new product launches and focusing on organic and fair trade certifications to meet consumer demand.

Market Key Trends
Use of ginger oil for natural flavoring in food products is a key trend. Growing popularity of clean label products is driving manufacturers to replace synthetic flavors and spices with natural extracts like ginger oil.Ginger oil blends are being developed and marketed as healthy culinary ingredients.It is also being explored for utilization in natural personal care products due to anti-inflammatory and anti-ageing benefits.

Porter’s Analysis
Threat of new entrants: Low as Ginger oil market is growing and has high capital requirement for research and development along with brand building. Bargaining power of buyers: Moderate as branded and quality certified ginger oil products have strong market and consumer brand loyalty. Bargaining power of suppliers: Low as suppliers need to cater to large buyer demands and strict quality standards set by them. Threat of new substitutes: Moderate as new natural essential oils can emerge as substitutes but ginger oil has wide application and acceptance. Competitive rivalry: High as the market has global players competing on the basis of product quality, innovation, and pricing.

Geographical Regions
In terms of value, Asia Pacific region dominates the global ginger oil market owing to major ginger producing countries like India, China and Indonesia in this region. These countries are the highest ginger cultivators as well as ginger oil producers catering to growing domestic and international demand.

Europe is the fastest growing region for ginger oil market due to increasing consumer awareness about health benefits of ginger oil and its wide applications in food, beverages, personal care and other industries. Countries like Germany, UK, France have seen rising demand for ginger oil and its natural products.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it