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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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.
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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