The worldwide Galangal Root Powder Market is predicted to be pushed by the worldwide Herbal Medicines Market throughout the forecast interval 2021-2026
Expert Market Research’s new report, titled Global Galangal Root Powder Market Report and Forecast 2021-2026, provides an in-depth analysis of the global Galangal Root Powder market and rates the market based on its segments such as type, application, sales channel, and major regions. The report tracks the latest trends in the industry and examines their impact on the overall market. It also assesses market dynamics, covers key demand and price indicators, and analyzes the market based on the SWOT and Porter’s Five Forces models.
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The main highlights of the report include:
Market overview (2021-2026)
- Projected CAGR: 8% (Global Herbal Medicines Market)
The growth of the global galangal root powder market is mainly driven by increasing demand for herbal products. The demand for plant-based products also makes a significant contribution. Demand from the pharmaceutical and nutraceutical industries for their effectiveness in treating cancer has also fueled market growth. The anti-inflammatory properties of galangal root powder are also attributed to growth. Soaring income growth and the expanding retail sector are expected to drive growth over the forecast period.
Industry definition and main segments
Galangal root powder is extracted from the dried roots of the galangal plant, also known as Siamese ginger or Thai ginger. It has an earthy and citrusy taste. It has health benefits, lowers bad cholesterol, and has antiaging properties. It is also known to increase stamina and to have calming and relaxing effects.
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Based on nature, the market is divided into:
Based on the application, the industry can be divided into the following categories:
- Food and beverages
- Cosmetics and personal care
The different sales channels of the product include:
- Direct sales
- Indirect sales
Regional markets for galangal root powder include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The Asia-Pacific region is the largest shareholder in the global galangal root powder market. This is due to strong domestic demand from the food and beverage sector and culinary application in Indonesian, Thai and Malaysian cuisines. In addition, the use of galangal root powder in traditional Chinese medicine is expected to support the growth of the market over the forecast period.
Important market participants
The main players in the market include Penzeys Spices, The Spice People, Burma Spice and Qingdao Dacon Trading Co Ltd. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, and other recent developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread around the world, our analysts are constantly monitoring the impact of this rapidly evolving situation on markets and consumer buying behavior. As such, our latest estimates and analysis of current market trends and projections will fully reflect the impact of this emerging pandemic.
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