Ginger oleoresin is extensively used in pharma, food, and flavour industries. Its price trends are closely linked to the cost of ginger rhizomes, which experienced volatility in the first half of 2023 due to reduced crop yields caused by adverse weather conditions and decreased acreage. The Indian market saw ginger prices reaching a 12-year high in May, significantly impacting ginger oleoresin price forecast during this period.
Definition
Ginger Oleoresin is a natural substance derived from ginger, a widely used spice in South Asia, particularly in India. It is extracted from ginger's rhizome and possesses concentrated flavors and bioactive compounds. The oleoresin finds versatile applications in pharmaceuticals, food products, and flavoring industries.
Key Details About the Ginger Oleoresin Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Ginger Oleoresin in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
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Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Ginger Oleoresin Price chart, including India Ginger Oleoresin price, USA Ginger Oleoresin price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Ginger Oleoresin Price Trend:
Ginger oleoresin, extracted from ginger roots, finds application in various industries due to its unique properties and flavor. The price trend of ginger oleoresin can be influenced by several factors related to its industrial uses:
Food and Beverage Industry Demand: Ginger oleoresin is used as a flavoring agent in food and beverage products like sauces, soups, confectionery, and beverages. Increased demand from this sector can drive up prices, especially during peak consumption periods or due to shifts in consumer preferences towards natural flavors.
Pharmaceutical and Nutraceutical Applications: Ginger oleoresin is valued for its medicinal properties, including anti-inflammatory and digestive benefits. Demand from pharmaceutical and nutraceutical industries for supplements, herbal remedies, and health products can impact its price trend. Regulatory changes, research findings, or health trends affecting the demand for natural remedies may also influence prices.
Cosmetics and Personal Care Products: Ginger oleoresin is used in cosmetics and personal care products for its fragrance and potential skin benefits. Fluctuations in demand from this sector, driven by changes in consumer preferences, marketing trends, or innovations in product formulations, can affect prices.
Agricultural Factors: The price trend of ginger oleoresin can also be influenced by agricultural factors such as weather conditions, crop diseases, and geopolitical events affecting ginger cultivation. Any disruptions in the ginger supply chain due to these factors can impact prices.
Technological Advances in Extraction Methods: Advances in extraction technologies can affect the cost of production for ginger oleoresin. More efficient extraction methods may lower production costs and subsequently influence pricing trends.
Market Dynamics and Competition: Price trends of ginger oleoresin can also be influenced by broader market dynamics, including supply and demand dynamics, global trade patterns, and competition among suppliers. Changes in market conditions, such as the entry of new suppliers or shifts in consumer preferences towards alternative ingredients, can impact prices.
Currency Fluctuations and Economic Conditions: Since ginger oleoresin is traded internationally, fluctuations in currency exchange rates and economic conditions in major producing or consuming countries can affect its price trend.
Overall, the price trend of ginger oleoresin is subject to a combination of factors related to its industrial uses, agricultural production, technological advancements, market dynamics, and economic conditions. Monitoring these factors can provide insights into the potential drivers behind price fluctuations in the ginger oleoresin market.
Key Players:
- Synthite Industries Ltd.
- Universal Oleoresins
- BOS Natural Flavours (P) Limited
- NAR Spice Products
News & Recent Development:
The prices of ginger have surged, causing worry among vendors and the public in Villupuram, Chennai, and Madurai. The high rates have made it difficult for vendors to sell ginger at affordable prices, leading to lower demand. This situation has affected lower-income families who are finding it hard to afford ginger, an essential ingredient in their daily meals. The hope is that prices will return to normal once the harvest season increases the arrival of ginger in the market.
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