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Asia’s Ginger Market 2019: UAE Is Expected to Be the Fastest-Growing Export Market

Asia’s Ginger Market 2019: UAE Is Expected to Be the Fastest-Growing Export Market

IndexBox has just published a new report: ‘Asia – Ginger – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The revenue of the ginger market in Asia amounted to $3.2B in 2018, rising by 14% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price).

In general, ginger consumption continues to indicate a prominent expansion. The growth pace was the most rapid in 2010, with an increase of 56% against the previous year. Over the period under review, the ginger market attained its peak figure level in 2018, and is expected to retain its growth in the near future.

Production in Asia

The ginger production amounted to 2.7M tonnes in 2018, surging by 6.9% against the previous year. The total output indicated a strong increase from 2008 to 2018: its volume increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the ginger production increased by +93.7% against 2008 indices. The growth pace was the most rapid in 2011, with an increase of 24% against the previous year. The volume of ginger production peaked in 2018, and is likely to continue its growth in the near future. The general positive trend in terms of ginger output was largely conditioned by a strong growth of the harvested area and a modest increase in yield figures.

Imports in Asia

The imports amounted to 410K tonnes in 2018, going up by 4.4% against the previous year. The total import volume increased at an average annual rate of +3.3% over the period from 2008 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period.

In value terms, ginger imports stood at $385M (IndexBox estimates) in 2018.

Imports by Country

In 2018, Pakistan (93K tonnes), Japan (68K tonnes), the United Arab Emirates (47K tonnes), Malaysia (45K tonnes), Bangladesh (42K tonnes), Saudi Arabia (28K tonnes) and India (24K tonnes) represented the main importers of ginger in Asia, generating 85% of total import.

From 2008 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by the United Arab Emirates, while the other leaders experienced more modest paces of growth.

In value terms, Japan ($103M), Pakistan ($83M) and the United Arab Emirates ($42M) appeared to be the countries with the highest levels of imports in 2018, together accounting for 59% of total imports.

Import Prices by Country

In 2018, the ginger import price in Asia amounted to $939 per tonne, remaining stable against the previous year. The import price indicated a moderate growth from 2008 to 2018: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the ginger import price increased by +25.2% against 2016 indices.

Import prices varied noticeably by the country of destination; the country with the highest import price was Japan ($1,513 per tonne), while Bangladesh ($279 per tonne) was amongst the lowest.

From 2008 to 2018, the most notable rate of growth in terms of import prices was attained by India, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

Global Ginger Market 2019 – U.S. Imports Increases Robustly, Turning The Country Into The Most Promising Market

IndexBox has just published a new report: ‘World – Ginger – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The global ginger market revenue amounted to $5.3B in 2018, jumping by 2.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Over the period under review, ginger consumption continues to indicate a strong growth. The pace of growth appeared the most rapid in 2011, when the market value increased by 53% y-o-y. Global ginger consumption peaked at $5.6B in 2016; however, from 2017 to 2018, consumption failed to regain its momentum.

Production 2007-2018

In 2018, approx. 3.3M tonnes of ginger were produced worldwide; surging by 6.7% against the previous year. Over the period under review, the total output indicated a remarkable expansion from 2007 to 2018: its volume increased at an average annual rate of +6.5% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the ginger production increased by +42.8% against 2014 indices.

Exports 2007-2018

In 2018, the amount of ginger exported worldwide stood at 564K tonnes, reducing by -15.1% against the previous year. Overall, the total exports indicated a temperate expansion from 2007 to 2018: its volume increased at an average annual rate of +2.5% over the last eleven year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the ginger exports decreased by -16.9% against 2016 indices. In value terms, ginger exports amounted to $754M (IndexBox estimates) in 2018.

Exports by Country

China dominates ginger exports structure, accounting for 390K tonnes, which was near 69% of total exports in 2018. It was distantly followed by Thailand (54K tonnes), achieving 9.7% share of total exports. Peru (21K tonnes), India (21K tonnes), Brazil (15K tonnes) and the Netherlands (13K tonnes) took a relatively small share of total exports.

From 2007 to 2018, average annual rates of growth with regard to ginger exports from China stood at +3.4%. At the same time, Peru (+49.2%), India (+7.2%), Brazil (+7.0%), the Netherlands (+3.3%) and Thailand (+1.9%) displayed positive paces of growth. Moreover, Peru emerged as the fastest growing exporter in the world, with a CAGR of +49.2% from 2007-2018. China (+21 p.p.), Peru (+3.7 p.p.), India (+2 p.p.) and Thailand (+1.8 p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($490M) remains the largest ginger supplier worldwide, comprising 65% of global exports. The second position in the ranking was occupied by Thailand ($56M), with a 7.5% share of global exports. It was followed by Peru, with a 5.6% share.

Export Prices by Country

The average ginger export price stood at $1,336 per tonne in 2018, going up by 15% against the previous year. In general, the ginger export price continues to indicate a remarkable expansion. Export prices varied noticeably by the country of origin; the country with the highest export price was Peru ($1,989 per tonne), while Thailand ($1,033 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of export prices was attained by China, while the other global leaders experienced more modest paces of growth.

Imports 2007-2018

In 2018, the amount of ginger imported worldwide amounted to 645K tonnes, shrinking by -8.3% against the previous year.

In value terms, ginger imports totaled $823M (IndexBox estimates) in 2018. Overall, ginger imports, however, continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2010, with an increase of 49% against the previous year. Over the period under review, global ginger imports attained their maximum at $987M in 2014; however, from 2015 to 2018, imports failed to regain their momentum.

Imports by Country

In 2018, the U.S. (89K tonnes), Japan (68K tonnes), the Netherlands (60K tonnes), the United Arab Emirates (47K tonnes), Pakistan (46K tonnes), Malaysia (45K tonnes), Bangladesh (42K tonnes), Saudi Arabia (28K tonnes), the UK (26K tonnes), India (24K tonnes) and Germany (23K tonnes) were the largest importers of ginger in the world, committing 77% of total import. Yemen (12K tonnes) occupied a little share of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by India, while the other global leaders experienced more modest paces of growth.

In value terms, the U.S. ($125M), Japan ($107M) and the Netherlands ($83M) constituted the countries with the highest levels of imports in 2018, with a combined 38% share of global imports. These countries were followed by Pakistan, Germany, the UK, the United Arab Emirates, Malaysia, Saudi Arabia, India, Yemen and Bangladesh, which together accounted for a further 38%.

Import Prices by Country

In 2018, the average ginger import price amounted to $1,275 per tonne, growing by 11% against the previous year. Overall, the import price indicated a remarkable growth from 2007 to 2018: its price increased at an average annual rate of +5.1% over the last eleven year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the ginger import price increased by +33.3% against 2016 indices. There were significant differences in the average import prices amongst the major importing countries. In 2018, the country with the highest import price was Germany ($2,672 per tonne), while Bangladesh ($279 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of import prices was attained by Pakistan, while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform