Garlic Extract Market Share, Overview, Trends and COVID-19 Analysis, Forecast to 2023
Garlic Extract Market Insights:
Market Research Future (MRFR)’s latest report reveals that the
global garlic extract market is set to exhibit healthy growth during the
forecast period 2017 to 2023. Garlic extract has developed application across
the food and beverage industry which is projected to drive the demand for the
product over 2023. End-user food companies extensively use it for flavoring and
seasoning. The taste developed for this particular flavor is poised to augment
the global COVID-19 analysis on garlic
extract market in the foreseeable future.
Garlic contains certain anti-fungal and anti-bacterial properties
which have paved the way for its utilization in the pharmaceutical industry.
The increasing demand from the industry is estimated to favor the expansion of
the garlic extract market. It also offers health benefits such as reduction of
cholesterol, strengthening the immune system, etc. These are likely to
accelerate the adoption of garlic into different products such as functional
beverages for capitalizing on the exponential demand from the health-conscious
population.
Garlic is also used in personal care products, and the growth of
the personal care industry is influencing the proliferation of garlic
extract market.The trend is prognosticated to continue over the assessment
period. However, allergy to garlic is a common phenomenon which is expected to
hold the growth of the garlic extract market during the projection period.
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Competitive Dashboard:
Some of the key players profiled in the report are McCormick &
Company, Inc. (U.S), Woolworths Limited. (Australia), Mars Incorporated
(Australia), NILON’S (India) NOW Foods (U.S.), and Dabur (India)
Garlic Extract Market Segmentation:
By product, the global garlic extract market application is segmented into powder, granulated, oil, paste, and
others. Among these, the paste segment is currently dominating the market. It
is extensively used as a primary cooking ingredient which is the major factor
responsible for driving the growth of the segment.
By application, the garlic extract market analysis has
been segmented into pharmaceuticals, cosmetics, and food and beverage. The food
and beverage segment accounts for the maximum share of the market at present.
It is likely to retain a major share of the market towards the end of the
forecast period.
Based on the distribution channel, it is segmented as store-based
and non-store based. The store-based segment has secured the pole position
owing to consumer preference of one-stop shopping experience.
Regional Analysis:
By region, the global garlic
extract industry has been segmented into
North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific
currently holds the most significant share of the market and is likely to gain
traction in the foreseeable future. The growth is attributable to the
increasing demand for garlic extract in South Asia countries as a primary
ingredient in cuisines. India and China are major consumers of garlic extract
globally. The demand is expected to witness an upsurge in China in the
forthcoming years. This, in turn, is projected to have a favorable impact on the
expansion of the garlic extract market.
North America is projected to foresee a significant increase in
demand for garlic extract in the upcoming years. It is attributable to the
medicinal and culinary benefits of the product. The U.S. is expected to contribute
substantially towards the augmentation of the global garlic extract market.
Europe is an important growth pocket which is estimated to exhibit
healthy growth in the next few years. The factor responsible for driving growth
of the garlic extract market is the development of a taste for garlic flavor in
different food products. The major country-level markets of the regional
market are the U.K. and the Netherlands.
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NOTE: Our team
of researchers are studying Covid19 and its impact on various industry
verticals and wherever required we will be considering covid19 footprints for a
better analysis of market and industries. Cordially get in touch for more
details.
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