Asia: Ginger Market 2024

Ginger Market Size in Asia

The Asian ginger market rose notably to $X in 2023, picking up by X% against the previous year. Over the period under review, consumption, however, continues to indicate a strong expansion. Over the period under review, the market hit record highs in 2023 and is likely to see steady growth in the near future.

Ginger Production in Asia

In value terms, ginger production rose remarkably to $X in 2023 estimated in export price. The total production indicated a prominent expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. The level of production peaked in 2023 and is expected to retain growth in the near future.

India (X tons) constituted the country with the largest volume of ginger production, accounting for X% of total volume. Moreover, ginger production in India exceeded the figures recorded by the second-largest producer, China (X tons), threefold. The third position in this ranking was held by Nepal (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume in India totaled X%. The remaining producing countries recorded the following average annual rates of production growth: China (X% per year) and Nepal (X% per year).

In 2023, the average yield of ginger in Asia reduced modestly to X tons per ha, which is down by X% compared with the year before. The yield indicated a noticeable increase from 2012 to 2023: its figure increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, ginger yield increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the yield increased by X%. Over the period under review, the ginger yield reached the peak level at X tons per ha in 2022, and then contracted slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2023, approx. X ha of ginger were harvested in Asia; increasing by X% compared with 2022 figures. The harvested area increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when the harvested area increased by X%. As a result, the harvested area reached the peak level of X ha. From 2022 to 2023, the growth of the ginger harvested area failed to regain momentum.

Ginger Exports

Exports in Asia

After two years of decline, overseas shipments of ginger increased by X% to X tons in 2023. Total exports indicated a buoyant expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports hit record highs in 2023 and are expected to retain growth in the near future.

In value terms, ginger exports skyrocketed to $X in 2023. Total exports indicated strong growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2020 indices. The level of export peaked at $X in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

China was the key exporter of ginger in Asia, with the volume of exports accounting for X tons, which was near X% of total exports in 2023. Thailand (X tons) held an X% share (based on physical terms) of total exports, which put it in second place, followed by India (X%). Myanmar (X tons) held a relatively small share of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2023. At the same time, Myanmar (X%), Thailand (X%) and India (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. While the share of China (X p.p.), Thailand (X p.p.) and Myanmar (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest ginger supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Thailand ($X), with a X% share of total exports. It was followed by India, with an X% share.

In China, ginger exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Thailand (X% per year) and India (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, with an increase of X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was India ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced mixed trends in the export price figures.

Ginger Imports

Imports in Asia

In 2023, ginger imports in Asia soared to X tons, growing by X% on 2022 figures. Total imports indicated a noticeable expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, ginger imports skyrocketed to $X in 2023. Total imports indicated a tangible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2020; however, from 2021 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Bangladesh (X tons), Malaysia (X tons), Pakistan (X tons), the United Arab Emirates (X tons), Japan (X tons) and India (X tons) represented roughly X% of total imports in 2023. The following importers - Vietnam (X tons), Singapore (X tons), Yemen (X tons), Saudi Arabia (X tons), China (X tons) and Thailand (X tons) - together made up X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by China (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Malaysia ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Bangladesh, Pakistan, India, Vietnam, Singapore, Saudi Arabia, Yemen, China and Thailand lagged somewhat behind, together accounting for a further X%.

China, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2023, stabilizing at the previous year. Overall, the import price saw a slight increase. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2023, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Japan ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform