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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:
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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.
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