Galangal Root Powder Market Size is Expected to be Driven by the Global Herbal Medicine Market in the Forecast Period of 2021-2026
The new report by Expert Market Research titled, ‘Global Galangal Root Powder Market Size Report and Forecast 2021-2026’, gives an in-depth analysis of the global galangal root powder market, assessing the market based on its segments like nature, application, distribution channel, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2021-2026)
Forecast CAGR: 8% (Global Herbal Medicine Market)
The growth of global galangal root powder market is primarily driven by increasing demand for plant-based products. The demand for herbal products is also a major contributing factor. The demand by pharmaceutical and nutraceutical industries due to its effectiveness in the treatment of cancer has also augmented the market growth.
The anti-inflammatory properties of galangal root powder are also expected to the growth. The increasing escalating incomes and expanding retail sector are expected to push the growth in the forecast period.
Industry Definition and Major Segments
Galangal root powder is obtained from dried roots of galangal plant, also known as Siamese ginger or Thai ginger. It has earthy and citrus flavour. It has health benefits, lowers bad cholesterol and anti-ageing properties. It is also known to boost stamina and have calming and relaxing effect.
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Based on nature, the market is bifurcated into:
Organic
Conventional
On the basis of application, the industry can be categorised into:
Food and Beverage
Pharmaceuticals
Cosmetics and Personal Care
Others
The various distribution channels of the product include:
Direct Sale
Indirect Sale
The regional markets for galangal root powder include:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Market Trends
The Asia Pacific region is the largest shareholder in the global galangal root powder market. This can be attributed to the strong domestic demand from food and beverage sector and culinary application in Indonesian, Thai, and Malaysian cuisines. Further, the usage of galangal root powder in traditional Chinese medicine system is also expected to aid the growth of market in the forecast period.
Key Market Players
The major players in the market are Penzeys Spices, The Spice People, Burma Spice, and Qingdao Dacon Trading Co Ltd, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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