Market Analysis
Global Garlic Extract Market is anticipated to grow at a 3.7% CAGR between 2017-2023, states the latest Market Research Future (MRFR) report. Garlic extracts are basically substitutes for garlic, which are available in different forms such as garlic extract powder, granulated garlic, garlic oil, garlic paste, and others. There are different garlic extract uses in the cosmetic, food, and pharmaceutical sectors owing to its anti-fungal, antibacterial, and antioxidant properties. Aged garlic extract kyolic is also widely used as a dietary supplement for supporting healthy cholesterol levels, nerves, liver function, immune function, circulation, and helps to fight fatigue and stress.
Various factors are propelling the garlic extract market growth. Such factors, as per the latest Market Research Future report, include its increasing adoption among different industries, burgeoning demand from the pharmaceutical sector owing to garlic’s anti-oxidant, anti-fungal, and anti-bacterial properties, and growing awareness about the multiple health benefits of garlic extracts such as improving bone health, reducing cholesterol, and strengthening the immune system. Additional factors pushing the growth of the garlic extract market include growing demand from the food industry as a flavor enhancer, increasing penetration on e-commerce portals, and increasing demand by the working population. On the contrary, increasing prevalence of garlic allergy may hamper the garlic extract market growth during the forecast period.
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Key Players
Notable players profiled in the Garlic Extract Market report include Dabur (India), NILON’S (India), Woolworths Limited. (Australia), Mars Incorporated (Australia), NOW Foods (US), and McCormick & Company, Inc. (US).
Industry News
November 2019: As per the latest research conducted at Sweden’s Skane University Hospital, kyolic aged garlic extract can help to improve wound healing and microcirculation with type 2 diabetes or heart disease. The ability of kyolic aged garlic extract to improve microcirculation will work wonders in preventing infection as well as other serious complications.
Market Segmentation
The Market Research Future report provides an all-inclusive segmental analysis of the garlic extract market on the basis of application, product form, and distribution channel.
By product form, the garlic extract market is segmented into paste, oil, granulated, powder, and others. Of these, the paste segment will lead the market during the forecast period as it is widely used as a key cooking ingredient that adds distinctive aroma and flavor of garlic in the food.
By application, the garlic extract market is segmented into the food & beverage industry, cosmetics, pharmaceuticals, and others. The food & beverage industry has again been segmented into condiment, seasoning, spices, beverage, sausage, culinary, and others. Of these, the food & beverage segment will dominate the market during the forecast period for its extensive use in various product lines. Garlic is a vital ingredient that is utilized in cooking, adding flavor as well as has ample health benefits.
By distribution channel, the garlic extract market is segmented into non-store-based and store-based. Of these, the store-based segment will have the maximum share in the market during the forecast period as it provides a one-stop shopping experience.
Regional Analysis
By region, the Garlic Extract Market report covers the latest trends and growth opportunities across the Asia Pacific, North America, Europe, and the Rest of the World. Of these, the APAC region will be the driving force in the market during the forecast period. Factors pushing the growth of the garlic extract market in the region include its increasing use as a key ingredient to prepare various cuisines coupled with rising consumption of garlic extract in China. India, as well as China, are the major contributors in this region.
The garlic extract market in North America will have substantial growth during the forecast period. Factors pushing the growth of the garlic extract market in the region include increasing consumption of garlic-flavored fast foods, growing inclination of consumers in the region towards garlic inclusion in the diet, and the booming medical and cosmetic industries that are inducing the demand for garlic extracts. The US is the major contributor in this region. The garlic extract market in Europe will have notable growth during the forecast period for the growing popularity of garlic-flavored food products. The Netherlands and the UK are the prominent contributors in this region. The garlic extract market in the RoW will have an average growth during the forecast period, mainly on account of the growing awareness about garlic extract benefits among consumers.
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