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Global Basil Extracts Market by Form of Extract (Capsule, Tablet, Powder, Soft-Gel, & Oil), by End-User (Personal Care Industry, Food & Beverage Industry, and Healthcare Industry), And by Region For Forecast Period 2017-2030
Global Basil Extracts Market Overview
Basil is a medicinal and culinary herb belonging to the Lamiaceae family. Basil is known for its aroma and medicinal benefits. The rising concerns among the consumers for their health, wellbeing and the adverse implications of the chemical based products, there is rise in inclination towards products made of herbal extract. Basil is an excellent medicine for bronchitis, malaria, nausea, vomiting, stomach ulcers, eye diseases, insect bites and many more. The conditions of malaria can be cured and even prevented with use of basil extracts. In 2017, Sudan saw 52.0% of the total patients suffering from malaria and accounted for 9.0% of all hospital deaths. As per WHO, 216 million cases of malaria in 91 countries were reported, an increase of 5 million cases over 2015. Use of basil extracts is very efficient in curing such life threatening diseases with the consumption over a period of time.
Goldstein Market Intelligence analyst forecast the global basil extracts market size is growing at a CAGR of 6.40% over the forecast years (2017-2030). The growth in basil production, advanced technology to extract variants of basil, its application in new areas, along with and the people preference towards adapting herbal products will lead the global basil extracts market to grow at a significant rate.
Global Basil Extracts Market Segmentation
By Form of extract
Personal Care industry
Food and Beverages industry
Based on Geography
North America (U.S. & Canada) basil extracts market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2030)
Latin America (Brazil, Mexico, Argentina & Rest of Latin America) basil extracts market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2030)
Europe (The U.K., Germany, France, Italy, Hungary, Spain, Poland, Sweden &RoE) basil extracts market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2030)
Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) basil extracts market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2030)
Middle East & Africa (GCC, South Africa, North Africa, RoMEA) basil extracts market (Market Size ($ Billion) & Y-o-Y Growth Analysis, 2017-2030)
On the basis of end-user, healthcare industry contributed the largest market share of 42.1% in 2016 of the overall basil extracts market. The medication that includes basil extracts are low cost and has no side effects on the health as compared to other medication, thus resulting in the increased application of basil extracts in the pharmaceuticals. On the other hand, personal care segment is growing at an annual growth rate of 6.3% because of the rising demand for the herbal based personal care products that enhances the skin and body beauty and prevent from diseases.
Basil Extracts Industry - Trends, Drivers and Challenges
According to the report, there is a rising trend in the widespread demand of organic ingredients based food and drinks, using herbal medicines as an alternative to other medicines. The chemical made cosmetic products are also being replaced by herbal based cosmetics using basil as the key ingredient. To ascertain these trends new developments are coming up in the extraction process to make the basil extracts cost efficient and increase the yield.
The therapeutic properties of the basil extracts are the major driving factor that cures the various diseases at affordable costs and has effective outcomes. The major health problems such as cancer can be cured by basil extracts as it has high power against antioxidation, decreases tumorigenicity and metastasis in pancreatic cancer cells and many more advantages.
The major challenge for the extraction of basil is the standardization and quality control. In herbs extraction, it is difficult to have the quality and quantity control over the complete batch production. Standardization ensures batch to batch consistency, correct amount of extract per unit. Standardization is difficult with the herbal extraction when compared to the chemical compositions.
Global Basil Extracts Market Analysis
In 2017, annually 350 tons of essential oil from basil leaves is produced in India, against the global production of 500 tons. Basil being native to India and other Asian countries, Asia-Pacific hold 42.1% market share in 2017 of the global basil extracts market. Whereas, North America has the 23.4% market share in 2017 in the global basil extracts market due to increasing sales of herbal products by larger number of consumers and in various industrial applications.
Covered in This Global Basil Extracts Market Report
The report covers the present ground scenario and the future growth prospects of the basil extracts market for 2017-2030 along with the global data of demand and supply of basil extracts. We calculated the market size and revenue share on the basis of revenue generated from major players and sales of basil extracts from major players across the globe. We have forecast the market on the basis of market player’s presence, major markets spaces, supply and demand analysis of basil extracts and other major factors.
Key Market Players
Global basil extracts market report comprises of the following companies as the key players in the basil extracts market:
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.