Place ginger, cinnamon sticks, allspice, peppercorns, nutmeg, and cloves together in a cheesecloth pouch or a large tea bag infuser.
Combine water and spice bag in a large pot; bring to a boil. Boil, adding more water as necessary as water evaporates, until flavors are blended and 6 to 8 cups of liquid remain, about 45 minutes.
Remove spice bag; when cool enough to handle, squeeze any excess liquid back into the pot.
Stir sugar and honey into spiced water; continue boiling until desired syrup consistency is reached, 1 to 2 hours.