Global Basil Extract Market is Segmented By Form (Capsules, Oil, Powder), By Application (Pharmaceuticals, Food & Beverages, Personal Care), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Basil Extract Market Overview
The Global Basil Extract Market size reached USD 58.3 million in 2022 and is projected to witness lucrative growth by reaching up to USD 80.4 million by 2030. The market is growing at a CAGR of 4.1% during the forecast period 2023-2030. Basil extract usage in pharmaceuticals to treat cancer and cardiovascular disease is raising the basil extract market growth.
Increasing demand for basil extract in food & beverages and personal care applications is also booming the basil extract market. These extracts are high in components like calcium, zinc, vitamin A, and iron, which are positive factors for the market. The rise in demand for stress-relieving pills is one of the key reasons driving the basil extract market.
Basil's high vitamin content aids in the battle against cancer, cardiovascular disease and ulcers of any kind. Another factor driving the market's growth is features like helping lower blood sugar levels and providing anti-bacterial protection. Furthermore, rising consumer health consciousness is another important factor driving the basil extract market.
Basil Extract Market Scope and Summary
|
Metrics |
Details |
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CAGR |
4.1% |
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Size Available for Years |
2021-2030 |
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Forecast Period |
2023-2030 |
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Data Availability |
Value (USD ) |
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Segments Covered |
Form, Application and Region |
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Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle East & Africa |
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Fastest Growing Region |
Asia Pacific |
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Largest Region |
North America |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
Basil Extract Market Dynamics and Trends
Increasing Demand for Herbal Medicine, Owing to its Various Health Benefits is Driving the Basil Extract Market Growth
Due to increased consumer worries about their health, well-being and the negative consequences of chemical-based products, there is a shift toward herbal extract products such as basil extract. Basil can help with bronchitis, malaria, nausea, vomiting, stomach ulcers, eye disorders, insect bites and many other ailments. With basil extracts, malaria can be treated and even prevented.
According to WHO, Malaria cases increased from 245 million in 2020 to 247 million in 2021. Basil extracts are particularly effective in healing such life-threatening disorders when consumed over a long period. Hence, increasing demand for herbal medicine, owing to its various health benefits is driving the basil extract market growth.
Adverse Effects of Basil Hamper on the Basil Extract Market Growth
The adverse effects of basil can have a significant impact on the growth of the basil extract market. Basil is a member of the mint family and some people may be allergic to it. According to the American College of Allergy, Asthma and Immunology, about 2% of the population has a food allergy to herbs and spices, including basil.
Basil may lower blood sugar levels, which can be dangerous for people with diabetes or hypoglycemia. Basil contains compounds that can act as natural blood thinners, which may increase the risk of bleeding or bruising in some individuals.
Basil Extract Market Segment Analysis
The global basil extract market is segmented based on form, application, and region.
Rising Demand for Basil Oil from Various Industries such as Food, Cosmetics and Pharmaceuticals
Based on form, the basil oil market is classified into capsule, oil and powder. In 2022, basil oil had a high market value and is frequently used in the food, cosmetics and pharmaceutical industries. Basil can be used to make cough syrups, skin ointments, juices, pulps and other therapeutic products.
Due to its anti-stress characteristics, basil oil is utilized for massage in health spas. Hence the rising demand for basil oil in various industries is driving its market share in the basil extract market.
Basil Extract Market Geographical Penetration
Large-scale Production of Basil in the Asia-Pacific Region
In 2022, Asia-Pacific had the highest share of the basil extract market. Asia Pacific region is home to several major basil extract-producing countries, including India, China, Thailand, and Vietnam.
For instance, according to research by Monad, about 250–300 tonnes of oil are produced annually from the 25,000 acres of land that are used to raise basil in India. This region has favorable climatic conditions for basil cultivation and their large-scale production of basil extract has contributed to the growth of the market in the region.
Basil Extract Companies and Competitive Landscape
The major global players in the market include Martin Baver Group, Penta Manufacturing Company, Cepham Inc., Now Foods, Amoretti, FLAVEX Naturextrakte, Todd Botanical Therapeutics, Kefiplants, Arora Aromatics Pvt Ltd, Crodarom.
COVID-19 Impact on Basil Extract Market
COVID-19 Impact
The pandemic caused by the novel coronavirus led to increased health consciousness among the population. Functional foods and pharmaceuticals enriched with basil extracts have witnessed increased sales during 2020, primarily by the consumption from infected and health-savvy people groups. Basil extracts function similarly to natural antibodies.
Furthermore, numerous studies have demonstrated that daily basil extract consumption has anticarcinogenic, cardioprotective, neuroprotective, antibacterial and antiviral characteristics. Basil extracts have also shown effective function against the SARS-CoV-2 coronavirus in laboratory trials at Japan's Nara Medical University.
Key Developments
- In March 2021, The Martin Bauer Group, expertise in botanical products, announced the acquisition of a major stake in Power Brands, a manufacturer of foodstuffs.
- In September 2020, The Martin Bauer Group, expertise in botanical products, is pleased to announce the purchase of Core Botanica, the top North American producer of specialized mint leaf products.
- In May 2022, Soli Organic Inc.'s brand-new line of USDA-certified organic 'Indolce' basil landed on produce aisle shelves in over 2,000 select stores across more than 15 Mid-Atlantic distribution centers.
Why Purchase the Report?
- To visualize the global basil extract market segmentation based on form, application, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of the basil extract market-level with all 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 200 Pages.
Target Audience 2023
- Manufacturers / Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
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