Global Basil Extracts Market – Industry Trends and Forecast to 2029

Global Basil Extracts Market, By Application (Pharmaceutical, Personal Care, Healthcare, Food and Beverages), Form (Powder, Capsule, Oil) – Industry Trends and Forecast to 2029.

Basil Extracts Market Analysis and Size

As a growing number of consumers seek safe and effective products, there has been a rapid shift from synthetic products to more natural and organic products in recent years. Basil extracts contains a lot of antioxidants and flavonoids. They are used in widespread application across the food and beverage and cosmetic industries.

Data Bridge Market Research analyses that the basil extracts market which was valued at USD 2.04 billion in 2021 is expected to reach the value of USD 3.28 billion by 2029, at a CAGR of 6.10% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Basil Extracts Market Scope and Segmentation

Market Definition

Basil, also known as ocimum basilicum or Saint Joseph's wort, is a tender plant used in various cuisines. It is a tropical cutlery herb native to Southeast Asia and Central Africa. Basil is a culinary herb in the mint family that is widely used in Ayurvedic medicine due to its fantastic anti-infection agent properties. Basil extracts are a good source of calcium, zinc, vitamin An, and iron.

Global Basil Extracts Market Dynamics

Drivers:

• Growing medicinal applications, especially in ayurvedic medicines

Individuals' growing awareness of the health benefits of basil is a major factor driving growth in the global basil extracts market. Due to its medicinal properties, holy basil is used in various ancient ayurvedic medicines throughout the Indian Subcontinent. Basil is high in vitamins A and K, as well as manganese, calcium, and iron. It has antioxidants, anti-inflammatory, anti-microbial, and anti-bacterial properties. It is used to treat a variety of diseases and health conditions, including constipation, loss of appetite, diarrhoea, intestinal gas, and so on. Basil reduces stress and depression while also increasing mental awareness.

• Increasing demand in various cuisines and from the personal care industry

Basil is commonly used to flavour soups, sauces, salads, and other dishes. It also goes well with paprika, oregano, pepper, parsley, mustered, and other herbs. Increasing its use in various cuisines is one factor driving global market growth.

Furthermore, the use of basil in personal care products to unclog pores, cleanse the skin from within, and remove dirt, as well as the growing preference for natural personal care products, are expected to drive the global basil extracts market in the near future.

Opportunities

The effect of basil on the human body has piqued the interest of medical researchers. The increasing use of basil extracts by these scientists and researchers has aided the growth of the basil extracts market. Furthermore, the transportation of basil leaves from farms to mainland areas for the development of medications has gained traction. Basil stems and seeds are now a commodity on the international market. This factor, combined with advancements in organic medical treatments, has benefited the basil extract market.

Restraints

However, the side effects of basil, such as hypoglycaemia and blood thinning, may limit market growth.

This basil extracts market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the basil extracts market contact Data Bridge Market Research for an Analyst Brief, our basil will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Basil Extracts Market

As a result of the covid-19 pandemic, sales of basil extract products increased significantly. As the pandemic tested people's immune systems, demand for basil extract products increased, as basil has been shown to improve the immune system. The products stored in the inventories were sold quickly as people started stockpiling products, even though the production volume after that was significantly affected due to reduced workforce and most of the production houses being shut down indefinitely. Sales of basil extract products increased significantly in countries such as India and the United States, which were severely impacted by the pandemic.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Basil Extracts Market Scope

The basil extracts market is segmented on the basis of type and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Powder
• Capsule
• Oil

Application

• Food & Beverages
• Pharmaceuticals
• Healthcare
• Personal Care
• Others

Basil Extracts Market Regional Analysis/Insights

The basil extracts market is analysed and market size insights and trends are provided by country, type and application as referenced above.

The countries covered in the basil extracts market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific accounts for the majority of revenue and is expected to maintain its dominance throughout the forecast period. The presence of major basil producing and consuming countries in this region is a key factor driving growth in this region's basil extracts market. Another factor driving the growth of the target market Asia-Pacific is the increasing use of basil in personal care and pharmaceuticals as people become more aware of its benefits.

North America is expected to have the highest revenue growth in the near future, followed by Europe. The use of basil in the packaging industry for its anti-microbial properties is expected to drive the basil market over the forecast period.

Market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Basil Extracts Market Share Analysis

The basil extracts market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to basil extracts market.

Some of the major players operating in the basil extracts market are:

• Givaudan (Switzerland)
• Sensient Technologies Corporation (U.S.)
• Symrise (Germany)
• Kangcare (China)
• P.T. INDESSO AROMA (Indonesia)
• P.T. Haldin Pacific Semesta. (U.S.)
• VidyaHerbs (India)
• Tokiwa Phytochemical Co. Ltd. (Japan)
• NATIVE EXTRACTS Pty Ltd. (Australia)
• Shaanxi Jiahe Phytochem Co., Ltd. (China)
• Synthite Industries Ltd. (India)
• Döhler, International Flavors & Fragrances, Inc. (Germany)
• Martin Bauer Group (Germany)
• Arjuna Natural Pvt Ltd (India)
• Organic Herb Inc. (China)
• Plant Extracts International Inc. (U.S.)