Global Basil Leaves Market - 2022-2029

Global Basil Leaves Market - 2022-2029

Market Overview

Basil leaves are also known as sweet basil or genovese basil which is native to tropical regions from central Africa to Southeast Asia. Basils are tender plant and used widely in cuisines. In addition, basils are also used in essential oils such as European basils where it contains high concentration of linalool. Increased use of basil leaves in seafood preparations, vegetable preparations, and meat preparations is stimulating the market growth and along with this increased use of basil leaves in a wide range of industries has driven the market. Introduction of new refreshing beverages with mint flavors is likely to augment well for the basil leaves market. Basil leaves are used in pesto or sprinkled on salads, dressings, pastas, and pizza. Basil leaves are also used in cosmetics products such as bath products, shaving products, skin care products, make-up, skin cleansing products, shampoo, hair conditioners, and deodorant. Use of basil leaves in food and beverages industry is boosting the market growth.

The global basil leaves market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of 5.67% during the forecast period (2022-2029).

Market Dynamics: Rising use of basil leaves in cosmetics industry along with growing health awareness drives the market growth

Basil leaves are widely used in cosmetics industry for the manufacturing of Ayurvedic cosmetics products. As basils are rich in antioxidants to protect the cells from damage caused by free radicals and also basils contain linoleic acid known for its benefits for the skin. It acts as an antibiotic, antiviral and anti-carcinogen. It is used for the adjunctive treatment of hepatitis, malaria, tuberculosis, dengue and swine flu and is also used as a common household remedy for fever. Phytonutrients enhance immunity, intercellular communication and aids in the repair of DNA damage and basils loaded with phytonutrients which possess anti-inflammatory, anti- oxidative and anti-carcinogenic properties. Experts discovered that basil can restrict the growth of numerous bacteria such as Staphylococcus aureus, listeria monocytogenes, Yersinia enterocolitica, Escherichia coli, and Pseudomonas aeruginosa and basil leaves are proven that to have anti-bacterial properties. Essential oil of basil is effective in stopping the growth of pathogenic bacteria. Moreover, volatile oils of basil can block the enzyme in our body known as cyclooxygenase (COX).

Market Segmentation: The organic basil leaves segment accounted for the highest share in global basil leaves market

The organic basil leaves segment accounted for a dominant share in the market over the forecast period as it has been increasingly used in food and beverages and pharmaceutical industry owing to its lots of health benefits. Basils are rich in vitamin A, vitamin K, vitamin C, magnesium, iron, potassium, and calcium due to which they are used in a variety of culinary preparations. In addition to the flavor, the culinary herb is said to preserve and enhance the properties of the food. Basil is extremely rich in many vitamins, nutrients and minerals that are necessary for the human body to function at its best due to which it treats fever, common cold, stress, purifying the blood, reducing blood glucose, risk of heart attacks and cholesterol level. Sweet basil is an excellent source of antioxidants such as phenolic compounds and polyphenols due to which it is used in tea leaves as it can act as an antioxidant and help the body get rid of free radicals. In addition, basil contains manganese, calcium, and essential oils plus, it has the goodness of antioxidants, including beta-cryptoxanthin, zeaxanthin, lutein, and beta-carotene.

Geographical Penetration: North America is dominating region during the forecast period

North America is projected to be the dominating region due to the rising awareness among people regarding a healthy lifestyle and food products is further expected to contribute positively to the basil leaves market growth in the countries such as the United States and Canada. North America imports about 2,000 tons of basil every year according to Hawaii.edu. Basils are widely used in United States and the estimated annual farmgate value of $1.2 million. Many types of basil are available varying in size, leaf shape, flavor, and in leaf color ranging from green to purple and the quality of the product is determined by appearance (color and absence of decay or insect damage). In North America, the pharmaceutical industries are growing in which there is demand for the basils as it used in medicines to treat stomach problems. According to Volza, Canada accounts for 7,514 shipments of drugs and is considered as one of the largest importer of medicine in 2020. The Food and Drugs Administration (FDA) 38 new drugs were approved from 2010 to 2019 with an increase of 60 percentage on an yearly basis. The large and small drugs manufacturing firms generally focused on different R&D activities and the pharmaceutical spending in 2019 was around $83 billion. All these factors are boosting the growth of the market.

Competitive Landscape

There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Some major key players are Badia Spices, Litehouse, Greenwell Overseas, Fresh Origins, Herbs Eqypt, Rosa Food Products, Starwest Botanicals, Mountain Rose Herbs, Ambuj Naturals, Frontier Co-Op, among others. In April 2018, Badyanath Ayurveda launched basil extract named tulsi ark which is a fresh produced from herbs and stimulates the body. In March 2022, Galactic launched natural basil flavor and innovative product was formulated in a unique way to bring round flavors and high quality to the plant-based foods. It offers attractive labelling options highlighting the plant-based source, the naturalness, and the clean label aspect of this ingredient. Natural Basil Flavor is an ideal natural ingredient applicable today for a big variety of plant-based meals or meat alternatives, such as plant-based burgers, sausages, nuggets, cold cuts, bread spreads.

COVID-19 Impact Positive impact on the global basil leaves market

During the COVID-19 pandemic, many R&D activities were going on to manufacture the proper medicine for treating the COVID-19 pandemic. The scientists in the University Medical Center (Chicago) show that one compound from tulsi leaf successfully controls lung inflammation; decreases fever, and recovers heart function in a mouse model of COVID-19. According to the Journal of Neuroimmune Pharmacology, eugenol which is basically the basil leaves reduced lung inflammation, decreased fever, improved heart function, and enhanced locomotor activities in SARS-CoV-2 spike S1-intoxicated mice. Also, the demand for home-prepared meals increased. Consumers turned to online shopping for basil leaves. The research and development carried out worldwide boosted the growth of basils which were used in these activities as it is a herb with medicinal properties.

The global basil leaves market report would provide an access to approximately 61 market data tables, 57 figures and 170 pages