Garlic Extract Market Scope
The garlic extract market to escalate at a sluggish rate of 3.8% from 2022 to 2032and 16.64 billion by 2032 (analysis period).
Garlic plant has always been perceived as a health inducing ingredient and is therefore, used extensively as an anthelmintic, anti-infective, antihypertensive and rubefacient. Garlic extract is derived from the garlic plant, which is mostly found in Mainland China and India and is exported to other regions. Since it is largely consumed as a flavoring agent and condiment, the incredible growth of the food and beverage sector has resulted in significant demand.
Spain's garlic extract market is experiencing steady growth, driven by the rising demand for natural and organic food ingredients. Garlic extract is widely used in Spanish cuisine, which has contributed to its high consumption rate in the country. Spain is also a major producer of garlic, which further boosts the availability of garlic extract in the country.
The increase in demand for garlic extract product across the expanding F&B sector can support expansion of the market in the near future. The garlic extract market surge can be credited to the increasing awareness about its benefits on human health. The increase in consumption of garlic extract to manage the growing populace of rubefacient, anthelmintic, antihypertensive, and anti-infective patients can also favor the market. The developing popularity of garlic extract as flavoring agent and condiment, along with its utility in the formulation of drugs can promote the market through the forecast tenure. The increase in traction of garlic extracts as active antioxidant, cholesterol-lowering agent, anti-aging solution, anti-dandruff, antimicrobial, insect repellent, blood purifying, and healing agent can improve the garlic extract market impetus.
Eminent Firms
The garlic extract key market players include NOW Foods (U.S.), NILON'S. (India), Dabur (India), McCormick & Company, Inc. (U.S.), Woolworths Limited. (Australia), Mars Incorporated (Australia), to mention a few.
Following the COVID-19 outbreak, companies have been focusing on rearranging their supply chains while trying to recover from the financial restrains brought on by the pandemic. The pandemic led to remote working, as well as closure of several commercial activities, which negative affected sales of food products like garlic extracts. However, players have remained resilient and continue to adopt strategic initiatives such as acquisitions, exhaustive R&D, product innovation, and mergers.
Primary Boosters and Deterrents
Garlic plant has always been perceived as a health inducing ingredient and is therefore, used extensively as an anthelmintic, anti-infective, antihypertensive and rubefacient. Garlic extract is derived from the garlic plant, which is mostly found in Mainland China and India and is exported to other regions. Since it is largely consumed as a flavoring agent and condiment, the incredible growth of the food and beverage sector has resulted in significant demand.
Fresh and aged garlic extracts are generally rich in active antioxidants as well as cholesterol-lowering properties. As a result, they are used as antioxidants, anti-aging and anti-dandruff agents, antimicrobial, insect repellents and healing and purifying agents. Moreover, their daily consumption has been proven effective in preventing cardiovascular and atherosclerosis disease. Garlic extract’s multiple applications in the food, cosmetics & personal care and pharmaceutical industries has fostered the market growth to a large extent.
Furthermore, garlic extracts also act as effective flavoring agents in a variety of fast-food preparations including pizza, pasta, noodles, and many others. Thus, the rising fast-food intake has bolstered the demand and use of garlic extracts. Moreover, the surge in health-conscious population focused on wellbeing are creating a huge demand, since garlic extracts also help foster the immune system, reduce cholesterol and more. These properties have also led to higher use of garlic extracts in a number of functional drinks by major brands trying to widen their geographical presence and customer reach.
Market Segmentation
Garlic extract market size has been segmented with respect to product form, application, and distribution channel.
The different product forms are granulated, powdered, pasted, oiled, and more. The highest gainer in the market is the paste segment, as this form is majorly used as a cooking ingredient to infuse a unique flavor as well as aroma in the dish.
Major applications of garlic extract include cosmetics, food and beverages, and pharmaceuticals. The food and beverage sector forms the biggest segment, wherein garlic extract is used in beverages, condiments, sausage, seasoning, spices, and many more. It is an essential cooking ingredient that not only adds flavour but also offers a host of health benefits to the consumer.
Store-based as well as non-store-based are the key distribution channels considered in the report. The store-based distribution channel takes the lead, as consumers prefer the convenient shopping experience offered by these retail outlets.
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