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The basil essential oil market share is expected to increase by USD 312.69 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.33%.
This basil essential oil market research report extensively covers basil essential oil market segmentation by application (pharmaceuticals and cosmetics and food and beverages) and geography (Europe, North America, APAC, South America, and Middle East and Africa). The basil essential oil market report also offers information on several market vendors, including Balnea Spa, Blue Ridge Solutions Inc., doTERRA International LLC, Edens Garden Inc., GuruNanda LLC, IBTM INC dba Wellington Fragrance, JE INTERNATIONAL SARL LES GRANDS PRES, Kama Ayurveda Pvt. Ltd., Macys Inc., Mountain Rose Herbs, Navada Imports LLC, Neals Yard Natural Remedies Ltd., NOW Health Group Inc., Oils4life Ltd., Plant Therapy Inc., Radha Beauty Products LLC, Rocky Mountain Oils LLC, Timeless Essential Oils, Young Living Essential Oils, and New Directions Aromatics Inc. among others.
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The health benefits of basil essential oil is notably driving the basil essential oil market growth, although factors such as increasing competition from other essential oils may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the basil essential oil industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Basil Essential Oil Market Driver
One of the key factors driving the global basil essential oil market growth is the health benefits of basil essential oil. The oil, applied topically or inhaled, provides relief from migraines, nervous tension, anxiety, depression, fatigue, mental strain, and other mental conditions. Basil essential oil contains eugenol, citronella, and linalool, which help in reducing skin inflammation. It can be used for treating indigestion, constipation, stomach cramps, and flatulence. It is also used for alleviating bowel pain. Massaging with basil essential oil provides relief from fatigue, aching muscles, sore muscles, and muscle pains. Basil essential oil contains phytochemicals that help in maintaining healthy skin and protect skin cells and tissues through selective fortification. The health benefits of basil essential oil are expected to promote the sales of basil essential oil products during the forecast period.
Key Basil Essential Oil Market Trend
The expansion of the retail space is a key global basil essential oil market trend that will have a positive impact on the growth of the market in the forecast years. Walmart, Costco Wholesale Corporation, Kroger, and Schwarz GmbH & Co KG are some of the leading players that have a global presence. The retail market in APAC is growing faster than Europe and North America due to strong economic growth in countries in the region. The convenience offered by online channels is one of the main factors pulling traffic to these sites. The traditional sales channel for basil essential oil products has always been supermarkets, hypermarkets, and convenience stores. These stores house many brands offered by different players. The sales of basil essential oil through supermarkets and hypermarkets are also increasing due to a high preference for home-cooked food with enriched flavors. Such factors will further support the market growth in the coming years.
Key Basil Essential Oil Market Challenge
One of the challenges in the growth of the global basil essential oil market is the increasing competition from alternative essential oils such as lavender oil, peppermint oil, and lemongrass oil. For instance, in May 2018, Arbonne International, LLC launched pure essential oil blends, including Arbonne Rescue & Renew Pure Essential Oils in tea tree blend. In August 2018, Isagenix Worldwide LLC. launched a new line of essential oils designed to fulfill various health and wellness needs of consumers. The increasing competition from other essential oil products can impede the growth of the basil essential oil market during the forecast period. Hence, the players in the global basil essential oil market will need to devise innovative strategies to differentiate their products and launch aggressive marketing campaigns to gain traction in the market during the forecast period.
This basil essential oil market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the basil essential oil market encompasses successful business strategies deployed by the key vendors. The basil essential oil market is fragmented and the vendors are deploying growth strategies such as the expansion of distribution channels to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The basil essential oil market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the basil essential oil market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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28% of the market's growth will originate from Europe during the forecast period. Germany and The Netherlands are the key markets for basil essential oil in Europe. However, market growth in this region will be slower than the growth of the market in other regions.
The high demand for basil essential oil owing to the increase in awareness about the health benefits of basil essential oil and various applications of basil essential oil across several industries such as pharmaceutical, cosmetics, and food and beverages will facilitate the basil essential oil market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 pandemic had a negative impact on the regional basil essential oil market. Vendors in the market faced supply chain disruptions due to shortages of raw materials. However, in H2 2020, import restrictions had eased due to the availability of vaccines. Further, in Q3 of 2021, basil distillation plants in the region resumed operations. The rise in the application of basil essential oil across industries, the increase in the launch of products containing basil essential oil, and the growing popularity of aromatherapy among consumers are likely to drive the market in Europe during the forecast period.
Technavio categorizes the basil essential oil as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the basil essential oil market during the forecast period.
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The basil essential oil market share growth by the pharmaceuticals and cosmetics segment will be significant during the forecast period. The application of basil essential oil in the pharmaceuticals and cosmetic segment is expected to increase significantly in the forecast years owing to its various health benefits and, thereby, aid the growth of the global basil essential oil in the coming years.
This report provides an accurate prediction of the contribution of all the segments to the growth of the basil essential oil market size and actionable market insights on post COVID-19 impact on each segment.
Basil Essential Oil Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.33% |
Market growth 2022-2026 |
$ 312.69 million |
Market structure |
Fragmented |
YoY growth (%) |
7.27 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 28% |
Key consumer countries |
US, Canada, China, Germany, and The Netherlands |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Balnea Spa, Blue Ridge Solutions Inc., doTERRA International LLC, Edens Garden Inc., GuruNanda LLC, IBTM INC dba Wellington Fragrance, JE INTERNATIONAL SARL LES GRANDS PRES, Kama Ayurveda Pvt. Ltd., Macys Inc., Mountain Rose Herbs, Navada Imports LLC, Neals Yard Natural Remedies Ltd., NOW Health Group Inc., Oils4life Ltd., Plant Therapy Inc., Radha Beauty Products LLC, Rocky Mountain Oils LLC, Timeless Essential Oils, Young Living Essential Oils, and New Directions Aromatics Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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