Global Garlic Extract Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Garlic Extract Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

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.

Market Overview:

The latest research study on the global Garlic Extract market finds that the global Garlic Extract market reached a value of USD 4117.87 million in 2022. It’s expected that the market will achieve USD 5927.77 million by 2028, exhibiting a CAGR of 6.26% during the forecast period.

Marketing channel sales will be affected differently

The COVID-19 Outbreak has led to a decline in offline passenger flow, and the advantages of e-commerce companies have become prominent. During the epidemic prevention and control period, some garlic extract enterprises did not carry out internet marketing and promotion for their business, so they encountered great resistance in undertaking business. For enterprises that fail to make good use of network promotion means, there is almost no market development during the epidemic period, and the original offline market development plan is disrupted, and the epidemic will face fierce market homogenization competition, which is expected to have a great impact on the company's business throughout the year.

Upstream and downstream interactions will lead to disruption of busines

s The epidemic will have a short-term impact on garlic extract industry, but it is relatively limited. Due to the impact of the epidemic, the production of raw materials and equipment procurement and transportation supply are difficult to be in place, and upstream enterprises affect the work schedule of downstream enterprises. Equipment manufacturing and product manufacturing enterprises in garlic extract industry are affected to different degrees, and the production and delivery work may be delayed to some extent. Meanwhile, if it fails to meet the customer's delivery time requirements according to the contract, it may lead to the customer looking for another enterprise and lose business.

Increasing demand from food industry

The growth of garlic extracts is directly proportional to the growth of the food industry. Garlic extracts are a vital flavoring agent in various cuisines. Besides, the increasing consumption of fast food across the globe is further resulting in the garlic extract market's development. Garlic extract has numerous applications in the food industry. It has a uniquely peppery and spicy taste, making it commonly favored to be used in the food industry. The growth of the global garlic extract market is driven by high intake of garlic extract as a flavouring and seasoning agent in various food products. In addition, it is used as an effective flavouring agent in fast food preparation such as noodles, pizza, pasta and many other. In addition, fast-food consumption is rising and the demand for garlic extracts is growing.

Fluctuations in raw material prices

The price of commodities, raw materials and components, including garlic, the largest raw material categories, have been volatile in prior years, and the cost, quality and availability of such commodities have been significantly affected in recent years by, among other things, changes in global supply and demand, changes in laws and regulations (including tariffs and duties), changes in exchange rates and worldwide price levels, natural disasters, labor disputes, terrorism and political unrest or instability. These factors could lead to further price increases or supply interruptions in the future. As discussed above, in the short term, rapid changes in raw material costs can be very difficult for manufactures to offset with price increases because, in the case of many of contracts, suppliers have committed to selling prices for goods and services for periods of one year, and occasionally longer. Manufactures' profit margins could be adversely affected if commodity, raw material and component costs remain high or escalate further, and, manufactures are unable to pass along a portion of the higher costs to customers. Price variance caused by fluctuations in raw material prices, which is not conducive to the development of the industry.

Region Overview:

In global comparison, a significant portion of the revenue was generated in North America (33.88% in 2021).

Company Overview

McCormick & Company, Inc.s one of the major players operating in the Garlic Extract market, holding a share of 4.39% in 2021.

McCormick & Company, Inc.

McCormick & Company, Inc. Incorporated of Maryland manufactures, markets, and distributes flavor products including spices, herbs, extracts, seasonings, and flavorings and other specialty food products to the food industry. The Company sells to retail stores, food manufacturers, and food service businesses.

Jiangsu Liming Food

Jiangsu Liming Food was established in 2002. It is a national-level leading agricultural industrialization enterprise integrating the acquisition and processing of agricultural and sideline products, export trade, technological innovation, e-commerce, information logistics, and overseas investment.

Segmentation Overview:

Among different product types, Powder segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Culinary segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Garlic Extract market covered in Chapter 3:

DaburMarsShanghai Shuangyuan Co., Ltd.Jiangsu Liming FoodNILONSMcCormick & Company, Inc.Woolworths Limited

In Chapter 4 and Chapter 14.2, on the basis of types, the Garlic Extract market from 2018 to 2029 is primarily split into:

PowderOilPasteGranulated

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Garlic Extract market from 2018 to 2029 covers:

CulinarySausageSpicesCondimentOthers

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)Latin America (Brazil, Mexico, Argentina)Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)