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.
[UKPRwire, Fri Jul 19 2019] 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.
Garlic is closely related to the onion, leeks, and shallots as they all belong to a lily family. Garlic has a very strong, heated and pungent taste. It grows in the form of a bulb with cloves each covered with a papery skin. Raw garlic has a very powerful flavor, hence it is generally cooked or roasted to soften and balance its flavor. Along with offering flavor to various foods, garlic also offers some medicinal benefits, hence it is used to cure various health problems.
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Key players in the garlic market are trying to make it convenient to use garlic in cooking by offering it in various forms such as powder, and paste. However, people still prefer to use garlic in its fresh form. In some of the regions, black garlic which is obtained from fresh garlic is also being consumed on a large scale as it is considered more beneficial than fresh garlic. In this process, fresh garlic is fermented for a period of time to convert it into black garlic. Meanwhile, garlic infused dipping oils are also being used as salad dressings and to add flavor to pastas, etc.
The global garlic market is likely to experience moderate CAGR. The garlic market is projected to bring in US$ 19,488.2 million revenue by the end of 2022. Garlic is a common ingredient used while preparing various foods to enhance the taste and also being consumed in a fresh form due to various health benefits offered. Garlic market players are also studying various methods to retain all the antibiotic properties of garlic even after processing it or mixing it with other foods.
Compared to the soft neck garlic, hard neck garlic is likely to emerge as the top-selling product in the garlic market. Gaining nearly two-third revenue share of the garlic market towards the end of 2017, hard neck garlic is projected to create incremental opportunity exceeding US$ 2,600 million during 2017-2022.
Among various forms of products available in the garlic market such as frozen, dehydrated, canned or preserved, fresh form of garlic is likely to be the most preferred variant. Garlic in fresh form is projected to surpass US$ 11,100 million revenue towards the end of 2022. On the other hand, garlic in dehydrated form is also likely to experience moderate growth in garlic market through 2022.
Garlic to Find Largest Application in Culinary
Culinary is likely to emerge as one of the largest application in the garlic market. Culinary is projected to surpass US$ 8,800 million revenue in garlic market by 2022-end. It is also expected to gain over two-fifth revenue share in garlic market in 2017.
The report provides a detailed profile of the key companies playing a major role in the growth of the garlic market through 2022, which include Italian Rose Garlic Products Inc., The Garlic Company, California Garlic Company, Mcfadden Farm, Mr. Lucky, Monterey Bay Spice Company Inc., Filaree Garlic Farm, Shandong Liancheng Garlic Industry Co., Ltd, Atmiya International, and South West Garlic Farm.
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