Garlic Extract Market is projected to grow at a CAGR of 3.7% over the forecast period. Garlic extract is derived from garlic as a substitute to its natural form. It has wide range of applications including food and beverage industry, pharmaceuticals, and personal care industry. It is used as a seasoning and condiment agent in food industry. Apart from being a seasoning agent and condiment, it holds many health benefits which has resulted in its application in the pharmaceutical and personal care industry.
Asia Pacific is a leading garlic extract market and is expected to grow substantially over the forecast period 2017-2023. In Asia Pacific, China is the major consumer of garlic extract followed by India. In China, it has gained popularity for its application in various sausages and fast food products. Moreover, increasing consumption of fast food is adding fuel to the growth of garlic extract market.
The garlic plant has long been considered as a beneficial plant for health which is the main reason of its consumption worldwide. The substitute use of garlic is often facilitated by garlic extract which has high antioxidant properties. It is a condiment used as an ingredient in food industry. It is used as an important component in various cuisines. Moreover, garlic extract has anti-fungal and anti-bacterial properties for which it is used as a part of pharmaceutical formulations as well. Additionally, it has witnessed increased traction owing to its health beneficial attributes associated with ailments of heart and blood systems. Additionally, it is used as an additive in shampoos and other cosmetics.
Furthermore, in India, cultural trend owing to application of garlic in different food products adding spice and flavor have boosted the market growth for garlic extract. It is also used as an important ingredient for various health treatment since ancient times which is driving the market growth of garlic extract in this region. All these factors will lead to the growth of Asia Pacific market at a CAGR of 4.5% during the forecast period 2017-2023.
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Major Key Players Analysis:
Some of the key players profiled in the Global Garlic Extract Market are Woolworths Limited. (Australia), McCormick & Company, Inc. (U.S.), NOW Foods (U.S.), Mars Incorporated (Australia), NILON’S. (India), Dabur (India)
Garlic Extract Market is gaining growth rapidly with its application in a wide range of products which is attracting new players in the market. Owing to increase in demand for the ingredient from food and beverages, existing ingredient producers included garlic extracts in their product portfolio. This stimulated the garlic extract market. Moreover, focus on R&D and surge of technologies will boost the garlic extract market over the forecast period 2017-2023.
Food industry is observing high application of garlic extract. China, Spain, Argentina, India and the Netherlands are the major producers and exporters in the garlic extracts market.
Garlic extract is segmented on the basis of product form such as powder, granulated, oil, paste and others. Among all, paste form of garlic extract is dominating the market. It is used as one of the primary cooking ingredient which gives distinctive flavor and aroma of freshly ground garlic in the food.
On the basis of application, garlic extract is segmented as pharmaceuticals, cosmetics, and food and beverage industry including culinary market, sausage, beverage, spices, seasoning, condiment, and others. Among all, food and beverage market is dominating the market by its usage in different product lines. It is an important ingredient used in cooking, adding flavor as well as health benefits in the food products.
Based on the distribution channel, it is segmented as store-based and non-store based. Store-based distribution channel dominates the market owing to one stop shopping experience.
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Garlic Extract Market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). Asia Pacific market is dominating the garlic extract market. In Asia Pacific, China and India are major consumers of garlic extract. It is used as a basic ingredient for the preparation of different cuisines in these regions. Moreover, North America is witnessing growth in garlic extract market owing to increased consumer likeness in the U.S. region.
Furthermore, in Europe, countries that are prominent consumers of garlic extract are U.K. and the Netherlands. Moreover, increased popularity among consumers for garlic flavored food products is expected to flourish the growth of garlic extract market in the rest of the world.