Global Basil Extract Market - 2023-2030
The global basil extract market reached US$ 58.3 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 80.4 million by 2030. The market is growing at a CAGR of 4.1% during the forecast period (2023-2030).
The global interest in herbal medicines is increasing, and basil extract is one of the key ingredients used in herbal medicines. The increasing popularity of herbal medicines is expected to fuel the growth of the basil extract market. Basil extract is used in a variety of food and beverage products, including sauces, dressings, and teas. The growing demand for convenience foods and the increasing popularity of ethnic foods is also expected to drive the basil extract market growth. Basil extract is used in cosmetics and personal care products due to its antioxidant and anti-inflammatory properties. The growing demand for natural and organic cosmetics and personal care products is expected to drive the growth of the basil extract market in this segment.
Market Dynamics
Growing Demand for Organic Ingredients in Foods and Beverages Fuels the Growth of the Basil Extract Market
Consumers are increasingly aware of the health and environmental benefits of consuming organic foods and beverages, which has led to a rise in demand for organic ingredients. Basil extract is a popular natural ingredient used in a wide range of food and beverage products, including sauces, dressings, marinades, teas, and juices. One 2.6-gram tablespoon of basil has 4.6 mcg of calcium and 6.9 mcg of vitamin A. As consumers look for healthier and more natural options, basil extract is becoming an increasingly popular ingredient which boosts the basil extract market growth.
Availability and Cost of Raw Materials Hamper the Market Growth of Basil Extract
Basil extract is made from fresh basil leaves, which must be harvested at the peak of freshness to ensure the best quality extract. However, the availability of fresh basil leaves can be limited due to seasonal and weather-related factors. Additionally, the cost of fresh basil leaves can vary depending on factors such as availability, demand, and transportation costs. This can impact the cost of producing basil extract, which can, in turn, affect the price of the final product and limit the market growth.
COVID-19 Impact Analysis
The COVID-19 analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with pricing dynamics (including pricing change during and post-pandemic comparing it to pre-COVID scenarios), demand-supply spectrum (shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), government initiatives (initiatives to revive market, sector or industry by government bodies) and manufacturers strategic initiatives (what manufacturers did to mitigate the COVID issues will be covered here).
Segment Analysis
The global basil extract market is segmented based on form, application, and region.
Medicinal Properties of Basil Extract is Expected to Drive the Pharmaceutical Segment Growth
Based on application, basil extract is classified into pharmaceuticals, food & beverages, and personal care. In 2022, the pharmaceuticals segment had the greatest market share of the entire basil extracts market owing to medicinal properties. Basil is known for its anti-inflammatory, antioxidant, and antimicrobial properties, which make it useful in treating various ailments. Basil extract is used to make cough syrups, digestive aids, and pain relievers. The increasing interest in herbal medicines and natural remedies has also driven the demand for basil extract in the pharmaceutical industry.
Geographical Analysis
Growing Consumer Awareness of the Health Benefits of Basil Extract in North America is Expected to Drive the Regional Growth
In 2022, North America had a significant share of the basil market. The United States is one of the largest consumers of natural and organic products, including food and beverages that use basil extract as an ingredient. In addition, the food and beverage industry in North America is highly developed, with a wide range of products that use basil extract as a flavoring agent. According to the University Of Hawaii, every year, roughly 2,000 tonnes of basil are imported into North America. Egypt, France, Hungary, Israel, Mexico, Indonesia, and the United States are among the countries that commercially produce basil.
Competitive Landscape
The major global players include Martin Baver Group, Penta Manufacturing Company, Cepham Inc., Now Foods, Amoretti, FLAVEX Naturextrakte, Todd Botanical Therapeutics, Kefiplants, Arora Aromatics Pvt Ltd, and CRODAROM.
Why Purchase the Report?
• To visualize the global basil extract market segmentation based on form, application, and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous basil extract market-level data points all for segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.
The global basil extract market report would provide approximately 53 tables, 47 figures and 102 pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies
- 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
- 2. Definition and Overview
- 3. Executive Summary
- 3.1. Snippet by Form
- 3.2. Snippet by Application
- 3.3. Snippet by Region
- 4. Dynamics
- 4.1. Impacting Factors
- 4.1.1. Drivers
- 4.1.2. Restraints
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis
- 5. Industry Analysis
- 5.1. Porter's Five Forces Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
- 6. COVID-19 Analysis
- 6.1. Analysis of COVID-19
- 6.1.1. Before COVID-19 Scenario
- 6.1.2. Present COVID-19 Scenario
- 6.1.3. Post COVID-19 or Future Scenario
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
- 7. By Form
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 7.1.2. Market Attractiveness Index, By Form
- 7.2. Capsule*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. Oil
- 7.4. Powder
- 8. By Application
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 8.1.2. Market Attractiveness Index, By Application
- 8.2. Pharmaceuticals*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Food & Beverages
- 8.4. Personal Care
- 9. By Region
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 9.1.2. Market Attractiveness Index, By Region
- 9.2. North America
- 9.2.1. Introduction
- 9.2.2. Key Region-Specific Dynamics
- 9.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 9.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 9.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 9.2.5.1. The U.S.
- 9.2.5.2. Canada
- 9.2.5.3. Mexico
- 9.3. Europe
- 9.3.1. Introduction
- 9.3.2. Key Region-Specific Dynamics
- 9.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 9.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 9.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 9.3.5.1. Germany
- 9.3.5.2. The U.K.
- 9.3.5.3. France
- 9.3.5.4. Italy
- 9.3.5.5. Spain
- 9.3.5.6. Rest of Europe
- 9.4. South America
- 9.4.1. Introduction
- 9.4.2. Key Region-Specific Dynamics
- 9.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 9.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 9.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 9.4.5.1. Brazil
- 9.4.5.2. Argentina
- 9.4.5.3. Rest of South America
- 9.5. Asia-Pacific
- 9.5.1. Introduction
- 9.5.2. Key Region-Specific Dynamics
- 9.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 9.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 9.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 9.5.5.1. China
- 9.5.5.2. India
- 9.5.5.3. Japan
- 9.5.5.4. Australia
- 9.5.5.5. Rest of Asia-Pacific
- 9.6. Middle East and Africa
- 9.6.1. Introduction
- 9.6.2. Key Region-Specific Dynamics
- 9.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 9.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 10. Competitive Landscape
- 10.1. Competitive Scenario
- 10.2. Market Positioning/Share Analysis
- 10.3. Mergers and Acquisitions Analysis
- 11. Company Profiles
- 11.1. Martin Baver Group*
- 11.1.1. Company Overview
- 11.1.2. Product Portfolio and Description
- 11.1.3. Financial Overview
- 11.1.4. Key Developments
- 11.2. Penta Manufacturing Company
- 11.3. Cepham Inc.
- 11.4. Now Foods
- 11.5. Amoretti
- 11.6. FLAVEX Naturextrakte
- 11.7. Todd Botanical Therapeutics
- 11.8. Kefiplants
- 11.9. Arora Aromatics Pvt Ltd
- 11.10. Crodarom
- LIST NOT EXHAUSTIVE
- 12. Appendix
- 12.1. About Us and Services
- 12.2. Contact Us
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