Ginger Oleoresin MarketvTo Witness An Outstanding Growth by 2032

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HoReCa Industry Catalyzing Demand for Ginger Oleoresin Products

The ever-expanding HoReCa (Hotels, Restaurants and Café) industry is creating stable revenue streams for manufacturers in the ginger oleoresin market. The growing demand for organic food products is contributing to market growth. Even though the revenue share of organic ginger oleoresins is projected for exponential growth, currently, conventional ginger oleoresins dictate more than 90% of the market share. Hence, manufacturers are diversifying their production in both product types to expand their revenue streams.

In terms of end use, the food & beverage (F&B) industry segment is pegged at 494 MT and is set to reach 1,242 MT by the end of 2032. The high volume manufacturing of ginger ale, alcoholic drinks, and gingerbread is catalyzing the demand for ginger oleoresin. It is also used in sauces, sweets, curry powders, and soft beverages.

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Natural Ginger Oleoresin Products Witness High Demand amid COVID-19 Crisis

The growing emphasis on food safety during the COVID-19 pandemic has led to the importance of clean labels for ginger oleoresin products. The proliferation of IIoT is another key driver, which is creating long-term incremental opportunities for stakeholders in the ginger oleoresin market.

An increasing number of health-conscious consumers are opting for nutraceuticals induced with ginger oleoresin. Consumer spending on natural products is rising as a result of various causes, the most important of which is increased health awareness. This is evident since consumers have become more aware of their options as a result of increased urbanization and literacy.

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Is Ginger Essential Oil Affecting Sales of Oleoresin Products?

The global ginger oleoresin market is positioned to advance at a robust CAGR. However, there is a need to increase the shelf life of ginger oleoresin products to increase its efficacy in the HoReCa and other industries. In order to achieve this, manufacturers are adhering to regulatory standards to improve product formulations. They are also increasing R&D to improve extraction methods such as SCFE (Supercritical Fluid Extraction) and the solvent extraction method to make better oleoresin products.

On the other hand, the sale of ginger oleoresin is facing a threat from ginger essential oil products. Essential oils are usually stronger in flavor than oleoresins. Nevertheless, oleoresins can be standardized for flavor and have a longer shelf life than essential oils.

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Aromatherapy Holds Lucrative Revenue Opportunities for Manufacturers

Apart from the F&B industry, manufacturers are tapping revenue opportunities in aromatherapy applications since science and medicinal products always keep evolving as per consumer trends. Rising consumer living standards and disposable cash in developing economies of Asia Pacific such as India, Taiwan, Thailand, Indonesia, and Vietnam, among others, are contributing to the expansion of the ginger oleoresin market. The increasing usage of essential oils extracted from oleoresins is offering promising opportunities for growth of the Asia Pacific ginger oleoresin market.

Consumer Awareness on Health Benefits of Ginger Oleoresin Boosting Product Uptake

The health benefits of ginger oleoresins are grabbing the attention of health-conscious consumers. Consumer awareness regarding the effectiveness of oleoresins in lowering the risk of cancer, treating colic flatulence, joint & muscle pain, urinary tract infections (UTIs), digestive issues, and the likes is fueling the growth of the ginger oleoresin market.

In addition, the ginger oleoresin market is undergoing a significant change with an increasing number of consumers opting for natural or organic ingredients in food, pharma, and neutraceutical products. Moreover, highly concentrated essential oils are extracted from oleoresins, which have applications in aromatherapy. The usage of essential oils in such operations has expanded as customers seek for more holistic therapies that use natural plant extracts to enhance health and wellbeing. The demand for ginger oleoresins is high due to functional properties and its applicability in the production of various food products.

Ginger Oleoresin Market: Overview

• Based on nature, the organic segment of the ginger oleoresin market is growing at the highest CAGR of 10.2%. However, the conventional segment currently holds the market share of 91.0% and is valued at US$ 15.8 Mn.
• Based on end use, the food & beverage industry segment is pegged at 494 MT and is set to reach 1,242 MT by the end of 2032. Furthermore, the nutraceutical segment is growing at a volume CAGR of 11.7%.

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Ginger Oleoresin: Market Frontrunners

• South Asia and East Asia together account for more than 70% share of the global ginger oleoresin market. India in South Asia holds the highest market share and is pegged at 238 MT in 2022, growing at a CAGR of 10.8%.
• Ginger oleoresin is a dark red-brown, viscous material with a natural, unique aroma. They are in high demand in the international market, particularly for the manufacturing of alcoholic drinks, gingerbread, and ginger ale. It is also used in sweets, curry powders, soft beverages, and sauces. It is in high demand in Ayurveda, nutraceutical, and pharmaceutical industries.
• Growing consumer perception toward better taste and nutrition is among the contributing factors for the growth of the ginger oleoresin market. Additionally, the awareness regarding its health and skin benefits is rising, which is subsequently benefitting the market growth. Consumer inclination toward natural and organic products has also bolstered the demand for ingredients such as oleoresins.