Basil Extract Market Share, Size, Trends, Industry Analysis Report, By Type (Powder, Capsule, Oil); By Application; By Region; Segment Forecast, 2023 - 2032
- Published Date:Oct-2023
- Pages: 116
- Format: PDF
- Report ID: PM3829
- Base Year: 2022
- Historical Data: 2019-2021
The global basil extract market was valued at USD 58.09 million in 2022 and is expected to grow at a CAGR of 3.1% during the forecast period.
Basil (Tulsi) is a fragrant plant that has a traditional Indian origin. It is a rich source of essential oils, phenolic compounds, and flavonoids. Its bioactive compounds are concentrated in the form of an extract. As customers learn more about the possible advantages of botanical extracts, they actively look for goods with ingredients like basil extract. Research is revealing the potential health benefits of basil extract, such as its antioxidant and anti-inflammatory properties. A study conducted on basil revealed it is a great source of bioactive chemicals with a range of health advantages. This scientific endorsement strengthens its use in the health and wellness market.
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Growing research and development activities are contributing to the growth of the global basil extract market. In a recent study focused on improving essential oil (EO) extraction from Indian basil, lemongrass, and coriander leaves, researchers devised pre-treatment systems, including ohmic-heating and ultrasonic techniques. While hoarding time and energy, these techniques enhanced EO production. These techniques can increase productivity, quality, and efficiency, attracting firms looking for fresh approaches. These studies' findings are appealing to buyers and manufacturers looking for natural and ecologically friendly extraction processes. These rising innovations are driving new growth opportunities for basil extract.
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Rising health consciousness among people
Rising health consciousness among people is the primary factor driving the demand for basil extract. Ingredients from sustainable sources are attracting more consumer interest. Basil appeals to environmentally aware consumers since it is frequently grown locally and sustainably. Furthermore, the pandemic stimulated the demand for basil extract due to its ability to improve immunity levels in the human body. Study findings revealed the potential use of holy basil-derived eugenol as a COVID-19 preventative or therapeutic drug by preventing the virus's entry and lowering related inflammation. This study stimulated the use of basil in the health industry.
Basil leaves' moisturizing qualities contribute to the softness and suppleness of the skin. Additionally, it contains essential oils, which are great for nourishing dry, dehydrated skin. Use basil leaf oil or extract to replenish the skin's moisture content. Basil has soothing natural qualities that can help soothe and reduce skin irritability. It includes eugenol, a substance with analgesic and anti-inflammatory qualities that can help calm and lessen skin inflammation and redness. Tulsi also contains a lot of antioxidants, which can help shield the skin from external stresses that might irritate and sensitize it. Utilizing skincare products containing basil extract can aid in reducing skin irritability and promoting a clear, peaceful complexion.
The market is primarily segmented based on type, application, and region.
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By Type Analysis
The oil segment is expected to witness the fastest growth over the forecasted period.
The oil segment is expected to have faster growth in the market. In the culinary world, basil oil is frequently used to give food the distinctive flavor of basil. It offers an easy method to add basil flavor to a variety of recipes without using actual basil leaves. The anti-inflammatory and antioxidant advantages of basil are known to have a positive impact on health. Natural components that can support a better lifestyle, like basil oil, are in more demand as people become more health conscious.
Additionally, basil oil is utilized in personal care products like skincare, haircare, and aromatherapy because of its possible antibacterial and fragrant characteristics. Shampoos, lotions, and massage oils frequently include it. Customers are becoming more interested in natural cures and herbal therapies for a range of health issues. With its possible medical uses, basil oil fits effectively with this application. These factors are contributing to the rising demand for basil extract in the form of oil.
By Application Analysis
Personal Care Products is projected to witness the largest market share in the study period.
Personal Care Products segment held the largest market share in the study period. Basil extract is presumed to have advantages like calming sensitive skin, decreasing inflammation, and supporting healthy hair. The potential advantages of basil extract contribute to its demand, as customers place a premium on goods that treat skin and hair issues.
Furthermore, consumers are increasingly looking for natural and plant-based ingredients in their personal care products. This trend matches well with basil extract, which is well known for its potential advantages in skin care and hair care. People are choosing products that contain plant extracts like basil as they become more aware of the chemicals they apply to their bodies. These factors are collectively fuelling the demand for basil extract in personal care products during the forecast period.
Asia Pacific witnessed the highest growth rate in the study period.
Asia Pacific witnessed the highest growth rate during the forecasted period. Basil originated in India and is known as the "Elixir of Life." It is mostly found throughout Southeast Asia. It has been used for thousands of years as a cure for various health issues, such as colds, coughs, and stress relief. Additionally, the growing food and beverage industry is creating demand for basil extract, which is widely used in sauces, dressings, and beverages. It is well recognized as an herb used in cooking, mostly in Southeast Asian & Italian cuisines. People in this region are showcasing demand for natural and botanical ingredients, driving the demand for basil extract as an additive.
Furthermore, basil extracts are used in aromatherapy and traditional herbal medicines. As people recognize the functioning of aromatherapy in the human body, there will be a huge demand for natural herbs like basil extract. Moreover, the presence of larger producers of basil in the region is driving the growth of the basil extract market. According to Volza, India is the top exporter of basil leaves with 936 shipments, followed by Egypt and Thailand with 328 and 236 shipments, respectively. Efficient supply networks in this region are enabling the world to meet the demand for basil extract in various domains like pharmaceuticals and personal care products.
Europe received a larger revenue share in the study period. Consumers in the region are giving preference to natural cosmetics due to the growing awareness about the effects associated with chemical products. According to the UK Soil Association, a private organization that certifies natural & organic products, sales of certified organic cosmetics in the UK market rose by nearly 15% in 2021 to reach around EUR 138.23 million. This implies rising demand for organic cosmetics in the UK, driving the region’s growth.
Basil extract is widely used in cosmetics as it can assist in skin care and hair growth. Basil extract is used in anti-dandruff shampoos and treatments due to its potential antifungal qualities. It has a natural fragrance that is mostly used in the manufacturing of creams, lotions, and shampoos. These factors are all contributing to the demand for basil extract in this region.
The basil extract market is fragmented and is anticipated to witness competition due to several players' presence. Major service providers in the market are constantly upgrading their technologies to stay ahead of the competition and to ensure efficiency, integrity, and safety. These players focus on partnership, product upgrades, and collaboration to gain a competitive edge over their peers and capture a significant market share.
Some of the major players operating in the global market include:
- A.M. Todd Botanical Therapeutics
- FLAVEX Naturextrakte
- Lingonberry Organic Foodstuffs Co., Ltd.
- Martin Bauer
- NOW Foods
- Penta Manufacturing Company
- In June 2023, Roelmi HPC introduced SelectSieve, a nutraceutical line for phytochemical compound preservation to enhance mental wellness and emotional well-being. The key ingredients used in this product are holy basil, lemon balm, and elderberry extracts.
- In October 2022, Bayer's consumer health division introduced Supradyn Immuno+, a daily immunity booster. Supradyn is a multivitamin supplement brand that offers immunity-building qualities. The primary ingredients used in this are tulsi & turmeric.
Basil Extract Market Report Scope
Market size value in 2023
USD 59.78 million
Revenue Forecast in 2032
USD 78.68 million
3.1% from 2023 - 2032
2019 - 2021
2023 - 2032
Revenue in USD million and CAGR from 2023 to 2032
By Type, By Application, By Region
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Report customization as per your requirements with respect to countries, regions, and segmentation.
key companies in basil extract market are Martin Bauer, Penta Manufacturing Company, Cepham, Kefiplant.
The global basil extract market is expected to grow at a CAGR of 3.1% during the forecast period.
The basil extract market report covering key segments are type, application, and region.
key driving factors in industrial basil extract market are growing demand for natural and organic ingredients.
The global basil extract market size is expected to reach USD 78.68 million by 2032.