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Global Galangal Root Powder Market to Grow at a Healthy Pace During 2021-2026, Aided by the Growing Demand for Plant-Based Products

According to a new report by EMR titled, ‘Global Galangal Root Powder Market Report and Forecast 2021-2026’, the global market for galangal root powder is being aided by the rising herbal medicine market, which is expected to grow at a CAGR of 5.8% between 2021 and 2026.

The galangal root powder industry is being driven by the growing health awareness and the rising demand for natural products. The galangal root powder provides various health benefits and is witnessing increased applications in the pharmaceutical industry. Meanwhile, the growing utilisation of culinary herbs and spices to prepare various dishes is also aiding the industry growth. Based on nature, the organic segment is expected to witness an enhanced demand in the forecast period owing to the rising health concern and growing awareness regarding the benefits of organic products. The growing demand for clean labelled products and plant-based ingredients in developed regions like North America and Europe is expected to provide enhanced growth opportunities for the market expansion in the forecast period.

Based on distribution channel, the indirect sales of the product are significantly contributing to the industry growth, wherein retail and online stores are witnessing a robust growth. Owing to the convenience factor, there has been a rise in the number of people making online purchase through platforms like Amazon.com, Inc. (NASDAQ: AMZN) and Alibaba Group Holding Ltd (NYSE: BABA), which is expected to boost the sales of galangal root powder over the forecast period. With the increase in R&D activities, the product is expected to witness increased applications in various industries, thus, contributing to the market expansion.

Market Breakup by Nature, Application, Distribution Channel, and Regions:

  • By nature, the industry can be bifurcated into organic and conventional. 
  • The various applications of galangal root powder include food and beverage, pharmaceuticals, and cosmetic and personal care, among others.
  • Based on distribution channel, the industry can be categorised into direct sale and indirect sale.
  • Region-wise, the global market for galangal root powder can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for galangal root powder is being driven by the increasing demand for natural products and the rising awareness regarding the benefits offered by galangal root powder. 
  • The industry is receiving a further impetus with the thriving pharmaceutical sector and the growing prevalence of lifestyle-related diseases. 
  • The growing expenditure on cosmetics and the rising demand for natural ingredients in the food industry are also boosting the market growth. 
  • The increasing investments in R&D activities by the manufacturers and the new product launches are expected to further propel the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for galangal root powder for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the nature, applications, distribution channels, and major regions of galangal root powder.
  • The report also gives the regional historical (2016-2020) and forecast (2021-2026) price trends of the product.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global galangal root powder market are Penzeys Spices, The Spice People, Burma Spice, and Qingdao Dacon Trading Co., Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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