Oct 13, 2017
5 Key Takeaways from Fact.MR’s Report on Garlic Market for Forecast Period 2017 - 2022
by Team Fact.MR
Consisting anti-rheumatic, carminative and digestive properties, garlic is consumed all over the world in form of an ingredient in various cuisines. Garlic is used mostly in cooking as it softens its pungent flavor, roasted garlic is also being consumed as it balances the flavor by offering nutty and delicate flavor. A fresh and raw form of garlic is consumed more than the other forms as the raw garlic is effective in cold and flu, high blood pressure, heart diseases, it is considered as one of the best antibiotics for fungal and bacterial infections. Manufacturers are also focusing on retaining maximum benefits and taste offered by raw garlic even after converting it into a paste or powdered form. The major market players are also focusing on infusing garlic with oil to produce flavored oil. Garlic is also being used as a meat and fish preservative, offering long shelf-life to these foods. Restaurants and fast food chains also use fresh garlic as it enhances the taste of the food.
According to a study by Fact.MR, the global garlic market is expected to experience moderate growth. The market is estimated to register 4.3% CAGR during the forecast period 2017-2022. Due to the increasing consumption of garlic as an ingredient in various foods and also being used as a traditional medicine, the demand of garlic is boosting. Manufacturers are also producing garlic in various forms such as paste, powder, oil, etc. to make it easy to use and to also balance the flavor. Below are some of the insights on how the global garlic market will perform in the next five years.
5 Forecast Highlights on Global Garlic Market
- Asia Pacific Excluding Japan (APEJ) is expected to emerge as one of the biggest markets in the global garlic market. Witnessing a steady growth rate during the forecast period, APEJ garlic market is estimated to exceed US$ 8,200 million value by 2022 end. China and India are the two highest garlic producing countries in the APEJ region. Moreover, initiatives by the government in both the countries are also supporting the garlic production.
- Europe and North America are also expected to experience moderate growth in the global garlic market.
- Hard Neck garlic is expected to be one of the highly preferred garlic product. Hard neck garlic is estimated to reach nearly US$ 13,000 million revenue by 2022 end. Meanwhile, the soft neck is also expected to account for more than one-third of the revenue share by 2017 end.
- Garlic in fresh form is expected to witness the highest growth as compared to any other form. Fresh form of garlic is estimated to create an incremental opportunity of more than US$ 2,000 million between 2017 and 2022.
- Garlic is expected to be widely used in culinary. By 2022 end, culinary is estimated to reach nearly US$ 8,900 million revenue. Although garlic is also expected to find large application in soups, sauces, and dressings.
The report has also profiled leading players in the global market for garlic, which will remain active through 2022. These include companies such as The Garlic Company, Italian Rose Garlic Products Inc., California Garlic Company, Monterey Bay Spice Company Inc., Mcfadden Farm, South West Garlic Farm, Mr. Lucky, Shandong Liancheng Garlic Industry Co., Ltd, Filaree Garlic Farm, and Atmiya International.