Like several other supplements used in food & beverage and pharmaceutical industries, the potency of garlic supplements has been acknowledged across the globe over time. Garlic supplements are best known for their aroma enhancement as well as therapeutic properties. Also, garlic supplements have found wide application in the treatment of several health diseases, including heart-, blood-, and cancer-related problems.
The global market for garlic supplements is a house of several global and local market participants engaged in the manufacturing, marketing, and sales of garlic supplements. Extensive presence across sales channels along with the economical cost of garlic supplements is anticipated to create enormous market opportunities for key channel partners. As a result, the market reach of key channel partners will expand across developed as well as developing economies.
Global Garlic Supplements Market to Register Strong Growth Over the Forecast Period
The global market for garlic supplements is estimated to record a high single-digit CAGR throughout the forecast years of 2019-2029, owing to the increasing consumption of dietary & herbal supplements across the globe. Among the geographies, North America and Europe are likely to dominate the global demand for garlic supplements by 2019, due to the high presence of key brands in these regions.
However, North America and Europe are likely to register moderate growth over the forecast period, due to the increasing business and production footprint of key competitors in developing countries. Thus, the global garlic supplements market is expected to witness strong growth from developing regions, including South Asia, East Asia, Latin America, and the Middle East & Africa, during the foretold period.
Rising Consumption of Dietary Supplements Likely to Boost Overall Sales of Garlic Supplements
The global food & beverage industry has transformed over the last decade, due to changing end user preference and increasing per capita spending across the globe. The overall industry scenario of garlic supplements market is likely to transform over the forecast period owing to rising investments and an increasing number of new entrants in the market.
Also, increasing the production of garlic & its related products across legacy as well as developing regions is likely to amplify the overall supply chain in the global garlic supplements market over the forecast period. Additionally, rising health awareness among end-users across the globe is anticipated to create a positive impact on the overall sales of garlic supplements in the next few years.
However, the lack of brand promotional activities in Latin American and Middle East & African countries may restrain the growth of the global garlic supplements market during the forecast period.
Garlic Supplements – Potential Solution for Therapeutic Treatments
The garlic supplements market can be segmented on the basis of form, nature, application, and sales channel. On the basis of form, the garlic supplements market can be segmented into capsules, tablets, softgel, liquids, powders, and others. On the basis of nature, the garlic supplements market can be segmented into organic and conventional.
On the basis of application, the garlic supplements market can be segmented into flavouring (food & beverages), therapeutic, and other applications. On the basis of sales channel, the garlic supplements market can be segmented into drug stores, health & beauty stores, modern trade channels, direct selling, third-party online channels, and company online channels.
The shifting preference towards online channels is likely to boost the overall sales of garlic supplements across the globe during the forecast period. The global market for garlic supplements can be segmented into seven regions: North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa.
Expansion in Developing Economies – A Key to Success for Market Participants
Key brands in the global garlic supplements market are focusing on expanding their business footprint across developing economies to gain more market traction in garlic supplements. Some of the market participants in the global garlic supplements market include
- NOW Foods
- Nature’s Bounty Co.
- Wakunaga of America Co., Ltd.
- Solaray Inc
- BRI Nutrition LLC
- Zhou Nutrition LLC
and other prominent players in the garlic supplements market.