The global market for garlic oleoresin has been witnessing remarkable growth, propelled by a myriad of factors including evolving consumer preferences, increasing health consciousness, and burgeoning applications across various industries. According to a recent research report, the garlic oleoresin market, valued at US$ 131 million in 2022, is anticipated to burgeon at a robust CAGR of 9.4%, reaching a valuation of US$ 320.5 million by the end of 2032. Here's a detailed analysis of the market dynamics, trends, and strategies shaping the garlic oleoresin landscape:
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Key Players and Market Developments
Some of the key players in the market include Mane KANCOR, Synthite Industries Ltd., Universal Oleoresins, Akay, Bioingredia Natural Pvt Ltd., AVT Natural Products Limited, Manohar Botanical Extracts Pvt. Ltd., Plant Lipids Private Limited, BOS Natural Flavors Pvt. Ltd., Vidya Herbs Pvt. Ltd., Sami Spices, HDDES Group, and others
Market Overview:
The garlic oleoresin market, currently valued at US$ 131 million, is slated for substantial growth, with the conventional segment holding a significant market volume share of approximately 93.8% in 2022. In terms of end use, the food & beverage segment dominates the market, accounting for around 75.0% of the value share, driven by escalating demand for natural and healthy food ingredients. The SCFE (Supercritical Fluid Extraction) segment, in the extraction method category, is projected to witness substantial growth, reaching a value of US$ 24.2 million by 2032.
Market Frontrunners:
Regionally, North America holds a notable market value share of 12.1%, with the U.S. spearheading the market with a commanding share of approximately 73.6%. Brazil also emerges as a key player, capturing a market value share of 51.7%. The brown or black garlic oleoresin, extracted from the crushed bulb of garlic (Allium sativum Linn), is characterized by its strong obnoxious odor attributed to the presence of di-sulphides and essential constituents such as propyl/disulphide, alliin, and allicin.
Market Trends:
The garlic oleoresin market is witnessing a surge in consumer spending on natural products, driven by increased health awareness and a growing inclination towards natural ingredients. Manufacturers are aligning their product portfolios to cater to this demand, thereby bolstering the usage of garlic oleoresins in various consumer goods. Additionally, the health benefits associated with garlic oleoresins, including their anti-inflammatory properties and potential to alleviate common ailments, are further augmenting market growth, especially amidst the backdrop of rising health concerns globally.
Strategies Adopted:
Key players in the garlic oleoresin market are heavily investing in research and development endeavors to enhance product quality and innovate in line with evolving market needs. Universal Oleoresins and Mane Kancor are prime examples, investing significantly in R&D and modern testing facilities to ensure the timely development of innovative and high-quality products, catering to the diverse requirements of consumers and industries alike.
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