Global Ginger Oleoresin Market Size, Share, and COVID-19 Impact Analysis, by Extraction Type (Solvent Extraction (Soxhlet, Ultrasound assisted, Autoclave Agitator, Steam Distillation & Others), Solvent-Free Microwave Extraction (SFME), Super Critical Fluid Extraction (SCFE)), by Application (Cosmetic & Personal Care, Food & Beverage, Pharmaceutical), by Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, Online), and by Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) Analysis and Forecast 2022-2030
KEY MARKET INSIGHTS
The Ginger Oleoresin Market was valued at USD 17.3 Mn in 2021. The market is projected to grow USD 46.7 Mn in 2030, at a CAGR of 10.4%. Ginger Oleoresin is a viscous dark-brown to red-brown liquid with a ginger scent and flavour. It is made with volatile oils that are either fresh or dried. The ginger oleoresin is a natural ginger root extract. It's a thick, viscous liquid with a distinct ginger fragrance and flavour. Depending on the purity and quality of the product, the hue might range from bright yellow to dark brown. The active components of ginger oleoresin are gingerols, which are responsible for their therapeutic qualities. The oil from the ginger root is extracted using a solvent such as ethanol or hexane. The oleoresin is then standardized to have specific percentages of the active components in ginger, gingerols, and zingiberene. The ginger oleoresin is a naturally occurring spice. Helps in reducing motion sickness, nausea, colds, and flu, muscle aches and pains, arthritic pain, poor circulation, all benefit from ginger oleoresin.
The essence of essential oils and oleoresins is not the sole reason for their increased use in various end industries; the level of convenience these ingredients bring to users is also contributing to market growth. Operational flexibility, yearly availability, and shelf life are all important features that enable market expansion for these adaptable substances. The main drawback of using raw spices and herbs is their short shelf life and seasonal availability, which is mitigated when they are processed and used as essential oils and oleoresins. The market is expected to benefit from increased demand for extended seasonality products.
The outbreak of COVID-19 impacted positively on the growth of the global ginger oleoresin market. The lockdowns and stringent government laws disrupted the supply and demand for raw materials, limiting manufacturing and significantly hurting production facilities around the world. Due to a scarcity of workers, nationwide lockdowns, and a slowing economy, ongoing building projects have suffered. The increased usage of ginger oils and oleoresin products for making kadha considered as traditional Ayurveda which can reduce the risks of COVID-19.
High Demand of Raw Ginger Products amid COVID-19 Crisis
Increasing shift on food safety amid COVID-19 epidemic lead to a clean labelling for ginger oil products have become increasingly important. Bioceutical associated with ginger oleoresin are becoming increasingly popular among health-conscious customers. Consumer spending is also increasing lead to a result of a variety of factors, the most important of which is growing health benefitting. This is witnessing as a result of growing urbanization and literacy, customers have become more aware of their options.
Increasing Usage in HoReCa Industry Favoring Market Growth
The ever-growing HoReCa (Hotels, Restaurants, and Café) industry is providing manufacturers in the ginger essential oil market with steady revenue streams. Increasing demand for organically food products is aiding the market growth. Organically ginger oleoresins are witnessed to increase at an exponential rate, conventional ginger products own over 90% of the market. As a result, manufacturers are expanding their product line to increase the revenue profits.
Rising Consumer Awareness by Consuming Ginger Oleoresin
Rising consumer awareness are likely attracting the attention of health-conscious factor. The expansion of the ginger oleoresin market is being fuelled by consumer awareness of the benefits of oleoresins in lowering cancer risk, relieving colic flatulence, joint & muscular pain, urinary tract infections (UTIs), digestive difficulties, amongst other ailments. Furthermore, the ginger oleoresin industry is changing dramatically, with an increasing number of consumers preferring natural or organic components in food, pharmaceutical, and neutraceutical products.
Exponential Usage of Ginger Essential Oil Hindering the Market Growth
Ginger essential oil products are posing a challenge to the selling of ginger oleoresin. The flavour of essential oils is usually greater than that of oleoresins. Nonetheless, unlike essential oils, oleoresins can be standardised for flavour and have a longer shelf life. The global ginger oleoresin market is expected to grow at a healthy rate. However, to improve its efficacy in the HoReCa and other industries, ginger oleoresin products must have a longer shelf life. Manufacturers are adhering to regulatory guidelines to improve product compositions in order to achieve this. Also spending more money on research and development to improve extraction processes like SCFE (Supercritical Fluid Extraction) and solvent extraction to manufacture superior oleoresin products.
The global ginger oleoresin market is segmented by Extraction Type (Solvent Extraction (Soxhlet, Ultrasound assisted, Autoclave Agitator, Steam Distillation & Others), Solvent-Free Microwave Extraction (SFME) & Super Critical Fluid Extraction (SCFE)), by Application (Cosmetic & Personal Care, Food & Beverage, and Pharmaceutical), by Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, and Online) and region. Based on the extraction type, the market is categorized into Solvent Extraction, Solvent-Free Microwave Extraction (SFME), Super Critical Fluid Extraction (SCFE). Based on application, the market is categorized into cosmetic & personal care, food & beverage, pharmaceutical. Based on Distribution Channel, the market is categorized into supermarkets/hypermarkets, specialty stores, convenience stores & online. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, South America, Middle East and Africa.
Extraction Type Insights
Based on the extraction type segment, the global ginger oleoresin market is categorized into Solvent Extraction, Solvent-Free Microwave Extraction (SFME), Super Critical Fluid Extraction (SCFE). The solvent extraction is further bifurcated into soxhlet, ultrasound assisted, autoclave agitator, steam distillation & others. The super critical fluid extraction (scfe) held the largest market share in 2020 of the global ginger oleoresin market attributing to due to the obtaining highest yield capacity at optimum conditions. The most common extraction methods amongst others.
Based on the application segment, the global ginger oleoresin market is categorized into cosmetic & personal care, food & beverage, pharmaceutical. The food & beverage held the largest market share in 2020 of the global ginger oleoresin market attributing to increased demand in the food and beverage industry is one of the key factors impacting the global market. Food and beverage manufacturers use this in their products to give them a distinct taste, flavor, and scent. One of the elements affecting the need from manufacturers to include natural ingredients or flavors in their goods is the growing global demand for flavored beverages and juices.
The pharmaceutical is anticipated to grow over the next few years of the global ginger oleoresin market owing to numerous health benefits and increased expenditure in pharmaceutical research and development. These products are being used by the pharmaceutical industry to create organic health solutions. In comparison to manufactured drugs, oleoresins solely offer benefits for consumption and no adverse effects. Pharmaceutical companies are leveraging oleoresins' medicinal capabilities to diversify their product portfolios, resulting in increased demand from the pharmaceuticals application category.
Distribution Channel Insights
Based on the distribution channel segment, the global ginger oleoresin market is categorized into supermarkets/hypermarkets, specialty stores, convenience stores & online. The supermarkets/hypermarkets segment is dominated the market share in 2020 owing to easy availability and consumer preference as they believe to touch and check before buying. The online segment is anticipating over the next few years due to the huge popularity of e-commerce platforms like Amazon, Grofers, Bigbasket, Dunzo, etc. The e-commerce sector has achieved huge sales due to the Covid-19 epidemic.
The global ginger oleoresin market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. Asia Pacific region is dominating the market share of global ginger oleoresin market owing to the rising population and urbanization activities. The need for ginger oleoresin has increased as the region's specialty stores and supermarkets/hypermarkets development activities have been increased. In recent years, market expansion has been spurred by population growth and an increase in disposable income in emerging countries. Furthermore, the consumption of ginger oleoresin has increased in India and China has been fast growing thanks to increased government investment. Higher production rate as well as the usage of new industrial technologies are credited with driving growth in the Asia Pacific area.
The Asia Pacific area is the world's leading producer and exporter of the product. Spice-producing countries in the region include India, China, Vietnam, Indonesia, and Malaysia, among others. However, North America is expected to witness the highest growth rate during the forecast period of the global ginger oleoresin market owing to investing in research and development to develop extraction technologies such as SCFE and solvent extraction to create better oleoresin products.
· AOS Products Pvt. Ltd.
· Kanta Enterprises Private Limited
· Mountain Rose Herbs
· PLANT THERAPY
· Edens Garden
· Young Living Essential Oils, LC
· NOW Health Group, Inc.
· Rocky Mountain Oils, LLC
· Mane KANCOR
· Synthite Industries Ltd.
· NATUREX SA
· BOS Natural Flavors (P) Limited
· Sami Spices
KEY INDUSTRY DEVELOPMENTS:
March 2020- akay has launched SPICEUTICALS®, which will be offering a variety of new and patented products to be manufactured in its new GMP certified plant.
By Extraction Type
- Solvent Extraction
- Ultrasound assisted
- Autoclave Agitator
- Steam Distillation
- Solvent-Free Microwave Extraction (SFME)
- Super Critical Fluid Extraction (SCFE)
- Cosmetic & Personal Care
- Food & Beverage
By Distribution Channel
- Specialty Stores
- Convenience Stores
- North America- U.S., Mexico, Canada
- Europe- UK, France, Germany, Italy
- Asia-Pacific- China, Japan, India
- Latin America- Brazil, Argentina, Colombia
- The Middle East and Africa- United Arab Emirates, Saudi Arabia
Global Ginger Oleoresin Market Size