Market Overview
Garlic extract is derived from garlic and has a high anti-oxidant properties. It has several health benefits due to which it is consumed widely. Its application areas include pharmaceuticals, cosmetics and various product lines in food and beverage industry. It is used as a seasoning agent and condiment in a wide array of cuisines. Changing lifestyle leading to increased consumption of fast foods is driving the growth of garlic extract market. Moreover, with its health benefiting properties, it is gaining popularity in pharmaceuticals and personal care industry as well.
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Market Forecast
Garlic extract has wide range of application in food and beverage industry including culinary market, sausage market, beverage market, spices, seasoning, condiment market and bakery market. Garlic extract has a unique pungent and spicy flavor which has promoted its usage as condiment and seasoning agent across the globe. Moreover, the overall performance of food industry is driving the market of garlic extract. Additionally, its anti-bacterial and anti-fungal properties have opened the doors for garlic extract in pharmaceutical and personal care industry.
Furthermore, its health beneficial properties including reduction in cholesterol, accelerating metabolism and many more have gained popularity among health conscious consumers which is adding fuel to the market growth of garlic extract. However, certain consumers are allergic to garlic, which is a restraint to the growth of garlic extract consumption. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 3.7% of garlic extract market during the forecast period 2017-2023.
Downstream Analysis
On the basis of product form, garlic extract is segmented as powder, granulated, oil, paste and others. Among all, paste form of garlic extract is projected to dominate the market. Owing to its distinctive flavor and aroma of freshly ground garlic in the food, it has become an integral part of cooking.
On the basis of application, garlic extract is segmented in 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. It adds spice and seasoning taste in food products, gaining popularity in food industry worldwide.
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.
Competitive Analysis
The major players in the garlic extract market
McCormick & Company, Inc. (U.S.)
NOW Foods (U.S.)
Mars Incorporated (Australia)
Woolworths Limited. (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.
Regional Analysis
The global 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 the major consumers of garlic extract. Moreover, there is continuous increase in the consumption of garlic extract in China. It is used as a basic ingredient for the preparation of different cuisines in this region. Moreover, U.S. is the major consumer of garlic extract in North America, driving the growth of garlic extract in this 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 drive the growth of garlic extract market in rest of the world.
Market Segmentation
Garlic Extract Market is segmented on the basis of product form, application, distribution channel, and region.
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