You are currently viewing Global Galangal Root Powder Market is Expected to be Driven by the Global Herbal Medicine Market in the Forecast Period of 2023-2028

Global Galangal Root Powder Market is Expected to be Driven by the Global Herbal Medicine Market in the Forecast Period of 2023-2028

The new report by Expert Market Research titled, ‘Global Galangal Root Powder Market Size Report and Forecast 2023-2028’, 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 (2023-2028)

  • Forecast CAGR: 5.8% (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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Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

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Expert Market Research

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally. At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.