The global basil extract market size is expected to be valued at US$ 59.3 million in 2023. With growing features and its resonance as an Ayurveda drug handed over from ages to the new crop of people coupled with its stress-relieving impact stokes its present use as a drug for the growing masses. Overall demand for basil extract is projected to grow at a CAGR of 3.3% between 2023 and 2033, totaling around US$ 82.0 million by 2033.
A spurt in demand for stress-relieving pills is projected to stoke the growth of the global basil extract market. Basil extract is more than just a rich source of vitamins it also exhibits some definitive properties such as anti-cancerous traits, good mosquito repellent, prevents cardiovascular diseases, and treats ulcers. It also helps in containing blood sugar levels and combats bacterial infection.
These versatile traits of basil extract are attracting the pharmaceutical segment to a great extent which will drive the basil extract market voluminously. Moreover, the market is also driven by the increasing awareness among consumers about the health benefits associated with basil extract.
“Growing emphasis on herb-based therapeutics and increasing awareness about the health benefits of Basil leaves have augmented the application in the personal care industry. Manufacturers are conducting research and developing new products like cough syrups, skin ointments, juices, and pulps.”
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The increase in the health offtakes associated with basil extracts has increased its demand, which is expected to witness similar trends. Furthermore, basil extracts find extensive applications in skin ointments, cough syrups, and juices, which have burgeoned their scope in medical applications. In addition, basil extracts function effectively as a stress reliever, which is expected to increase its commercial applications.
The application of basil extracts in healthcare applications has witnessed major leverage. The enhanced use of basil extracts in the skincare range is projected to fuel the demand for basil extracts in the personal care industry. The demand for commercial basil extracts such as powder, capsules, and oil has spiraled, where the basil oil is expected to witness major demand owing to its application in the treatment of nervous disorders and stress-related headaches. Hence, the extensive application of basil extracts in pharmaceutical and personal care products is expected to boost its demand.
The nutrition quotient of basil extracts is also high as it is a rich source of calcium, zinc, vitamins A and C zinc, and iron. The chemicals present in the basil extract are famously known for lowering body pain and inflammation. Basil extract can be leveraged for its unique property to bring down blood sugar levels in the blood and helps the body to remain fit and agile. Various insights suggest that Basil can reduce infections caused by bacteria.
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Competitive Landscape
Some of the leading players in the basil extract market are Martin Bauer Group, Penta Manufacturing Company, Cepham Inc., Kefiplant, A.M. Todd Botanical Therapeutics, Amoretti, FLAVEX Naturextrakte GmbH, DaXingAnLing Lingonberry Organic Foodstuffs Co., Ltd., and NOW Foods among others. Some key developments in the Basil Extract market are as follows:
- In March 2021, The Martin Bauer Group, a global manufacturer and provider of quality teas and botanicals, declared the acquisition of a majority stake in Power Brands. Power Brands is a key beverage development, formulation, production, and marketing service company based in Los Angeles, CA.
- DaXingAnLing Lingonberry Organic Foodstuffs Co., Ltd. Is a leading manufacturer emphasizing producing high-quality plants extracts, customized formulation blends, and OEM service since 2002
- NOW Foods is a dominant manufacturer and supplier of basil extracts in a vegetarian/vegan format. The product is sold in a plethora of variants such as NOWFoods Triphala, NOWFoods Hawthorn extract, etc.
Segmentation of the Basil Extract Market
By Application :
- Pharmaceutical
- Personal Care Products
By Type :
- Powder
- Capsule
- Oil
By Region :
- North America
- Europe
- Asia Pacific
- The Middle East & Africa
- Latin America
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