Thailand Ginger Market: Import Trend Analysis
Thailand import trend for ginger in 2024 experienced a significant decrease, with a growth rate of -67.66% compared to the previous year. The compound annual growth rate (CAGR) for 2020-2024 stood at -20.7%. This decline could be attributed to shifting consumer preferences, changes in supply chains, or fluctuations in global market dynamics impacting import momentum.
Ginger Market: Thailand vs Top 5 Major Economies in 2027 (Asia)
Thailand's Ginger market is anticipated to experience a growing growth rate of 5.40% by 2027, reflecting trends observed in the largest economy China, followed by India, Japan, Australia and South Korea.
Thailand Ginger Market Synopsis
The Thailand ginger market is a lucrative industry and has been estimated to be worth US$2.6 billion in 2020, growing at a CAGR of 9%. The country is the world`s third largest producer and exporter of ginger, accounting for more than 5% of global production. India is the leading producer and exporter followed by China. Thailand produces around 400 million tons of fresh ginger annually, most of which are exported in processed form such as pickled or powdered varieties due to high demand from major importing countries like Japan, Vietnam, South Korea, Germany and United States among others.
Drivers of the Market
The Thailand ginger market benefits from the widespread use of ginger in traditional Thai cuisine and its recognized potential health benefits. Ginger`s distinctive taste and medicinal properties contribute to its popularity as a flavoring agent and herbal remedy.
Challenges of the Market
The Thailand ginger market encounters challenges related to sourcing high-quality ginger and addressing issues such as contamination, which can affect the overall quality of ginger products.
Trends & Oppourtunites of the Market
Ginger`s culinary and health benefits make it a sought-after ingredient. Businesses can find opportunities in supplying fresh and processed ginger to meet the demands of diverse market segments.
COVID-19 Impact on the Market
The pandemic brought about challenges in the Thailand ginger market as well. The closure of markets, reduced trade, and labor shortages disrupted the sourcing and distribution of ginger. The uncertain environment led to volatility in prices and availability of ginger, impacting both businesses and consumers.
Key Players in the Market
In the Thailand ginger market, key players like Jiraporn Farm Group are involved in cultivating and supplying ginger, used both as a spice and for its potential health benefits.
Key Highlights of the Report:
- Thailand Ginger Market Outlook
- Market Size of Thailand Ginger Market, 2023
- Forecast of Thailand Ginger Market, 2030
- Historical Data and Forecast of Thailand Ginger Revenues & Volume for the Period 2020-2030
- Thailand Ginger Market Trend Evolution
- Thailand Ginger Market Drivers and Challenges
- Thailand Ginger Price Trends
- Thailand Ginger Porter's Five Forces
- Thailand Ginger Industry Life Cycle
- Historical Data and Forecast of Thailand Ginger Market Revenues & Volume By Product Type for the Period 2020-2030
- Historical Data and Forecast of Thailand Ginger Market Revenues & Volume By Fresh Ginger for the Period 2020-2030
- Historical Data and Forecast of Thailand Ginger Market Revenues & Volume By Dried Ginger for the Period 2020-2030
- Historical Data and Forecast of Thailand Ginger Market Revenues & Volume By Preserved Ginger for the Period 2020-2030
- Historical Data and Forecast of Thailand Ginger Market Revenues & Volume By Ginger Oil for the Period 2020-2030
- Historical Data and Forecast of Thailand Ginger Market Revenues & Volume By Others for the Period 2020-2030
- Historical Data and Forecast of Thailand Ginger Market Revenues & Volume By Application for the Period 2020-2030
- Historical Data and Forecast of Thailand Ginger Market Revenues & Volume By Food Industry for the Period 2020-2030
- Historical Data and Forecast of Thailand Ginger Market Revenues & Volume By Pharmaceuticals Industry for the Period 2020-2030
- Historical Data and Forecast of Thailand Ginger Market Revenues & Volume By Cosmetics Industry for the Period 2020-2030
- Historical Data and Forecast of Thailand Ginger Market Revenues & Volume By Others for the Period 2020-2030
- Historical Data and Forecast of Thailand Ginger Market Revenues & Volume By Distribution Channel for the Period 2020-2030
- Historical Data and Forecast of Thailand Ginger Market Revenues & Volume By Traditional Retail for the Period 2020-2030
- Historical Data and Forecast of Thailand Ginger Market Revenues & Volume By Modern Retail Stores for the Period 2020-2030
- Historical Data and Forecast of Thailand Ginger Market Revenues & Volume By Others for the Period 2020-2030
- Thailand Ginger Import Export Trade Statistics
- Market Opportunity Assessment By Product Type
- Market Opportunity Assessment By Application
- Market Opportunity Assessment By Distribution Channel
- Thailand Ginger Top Companies Market Share
- Thailand Ginger Competitive Benchmarking By Technical and Operational Parameters
- Thailand Ginger Company Profiles
- Thailand Ginger Key Strategic Recommendations
