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The Basil Leaves Market size is projected to increase by USD 394.4 million and the market size is estimated to grow at a CAGR (Compound Annual Growth Rate) of 4.34% between 2022 and 2027.
Increasing demand for fresh and organic basil leaves is driving the market growth. The surge in demand for basil leaves can be attributed to various factors, including the growing emphasis on health and wellness, increased awareness of the benefits of organic food, and a rising interest in culinary exploration. The health and wellness trend has prompted consumers to seek natural, organic, and nutritious foods, with basil being rich in antioxidants and believed to possess anti-inflammatory properties and the ability to regulate blood sugar levels. This has led health-conscious individuals to incorporate fresh and organic basil into their diets. Additionally, the awareness of the advantages of consuming organic produce, free from harmful pesticides and GMOs, has contributed to the increased demand for fresh and organic basil. These factors collectively contribute to the growing demand, thus driving the expansion of the market during the forecast period.
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Our researchers analyzed the data with 2022 as the base year, along with the key trends, and challenges. A holistic analysis of drivers, trends, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.
Increasing awareness about the medicinal benefits of basil leaves is the primary trend in the market growth. Basil leaves have gained widespread recognition in traditional medicine over centuries due to their various health benefits. Recently, the global demand has surged significantly as people become more aware of their medicinal properties. This trend has resulted in a thriving market for basil leaves, making it one of the most profitable industries worldwide. One of the primary advantages lies in their ability to reduce inflammation. With compounds like eugenol, basil effectively alleviate swelling and inflammation, making them valuable in treating conditions such as arthritis, asthma, and even certain types of cancer. Another notable benefit is their potential to reduce stress and anxiety levels by calming the nervous system.
Moreover, it contain substances like rosmarinic acid, which shield the brain from oxidative damage, leading to improved cognitive function and memory. Furthermore, basil contribute to digestive health by managing gut inflammation and regulating digestive enzyme production, making them beneficial for conditions like bloating and constipation. In addition, the leaves are a rich source of essential vitamins and minerals, including vitamin K for bone health, as well as vitamins A, C, and E with antioxidant properties that support overall well-being. Consequently, these factors are expected to drive the growth of the market in the forecast period.
Fluctuating weather conditions are challenging the market growth. The market has been experiencing volatile weather conditions that have had adverse effects on production and prices. For instance, drought, a period of limited rainfall, has a significant impact on basil plants, which require adequate moisture levels for growth. When the weather is dry, the plants suffer from water scarcity, resulting in reduced growth and productivity. Consequently, the supply of leaves decreases, leading to increased prices that burden consumers. Similarly, excessive rainfall can also disrupt the market. Heavy downpours can cause flooding, damaging crops and rendering them unfit for consumption. The excessive moisture can also create a favorable environment for pests and diseases, further harming the plants.
Consequently, the supply of basil diminishes, and prices may soar. Moreover, extreme temperatures play a role in influencing the market. High temperatures cause the plants to wither and dry up, while low temperatures stunt their growth. This leads to poor crop yields and subsequently affects the supply in the market. Hence, these factors are anticipated to impede the growth of the market in the projected period.
The market research and growth report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth and forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market growth analysis report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies dominant, leading, strong, tentative, and weak.
Based on end-user, the market has been segmented into pharmaceuticals, cosmetics, and food and beverages. The pharmaceuticals segment will account for the largest share of this segment. In the market, pharmaceuticals and cosmetics are among the main industries that have a significant impact on the demand for this popular herb. The active compounds found in basil, such as eugenol, rosmarinic acid, and linalool, have been linked to various health benefits and therapeutic properties that make the herb highly sought after by these industries. Pharmaceutical companies have been utilizing basil in their products for centuries due to the powerful anti-inflammatory and antibacterial properties of basil. Thus, the above-mentioned factors are expected to drive the growth of the pharmaceutical and cosmetics segment in the market during the forecast period.
The market share growth by the basil leaves segment will be significant during the forecast period. Basil leaves are widely utilized in both culinary applications and traditional medicine, making them highly sought after. Their versatility in the kitchen allows for various uses, whether fresh or dried, and they are a vital ingredient in Mediterranean and Asian cuisine. For instance, Italian dishes incorporate basil into pesto sauce, while Thai cuisine utilizes them in curries and stir-fries. Beyond their culinary value, basil offer numerous health benefits.
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The segment was valued at USD 611.47 Million in 2017 and continued to grow until 2021 they are abundant in antioxidants and anti-inflammatory compounds, which can reduce the risk of chronic ailments like heart disease and cancer. Additionally, basil leaves possess antimicrobial and antibacterial properties, aiding in infection prevention and immune system enhancement. The global demand is driven by evolving consumer preferences and the growing emphasis on healthy eating habits. Furthermore, the increasing popularity of ethnic cuisines and the wider availability of exotic herbs and spices in supermarkets and specialty stores contribute to the expansion of the market.
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APAC is estimated to contribute 29% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to Companies is Europe. The demand for organic leaves is also on the rise in Europe, driven by consumer awareness of health benefits and sustainability. Organic leaves are cultivated without chemical fertilizers and pesticides, offering healthier and environmentally-friendly options. Countries such as Germany, the Netherlands, and Denmark have witnessed substantial growth in the production and consumption of organic basil. Consequently, these factors contribute to increased demand will propel the growth of the regional market in the foreseeable future.
The market thrives on the cultivation of non-GMO basil seeds, a member of the mint family, renowned for its fresh mint-flavored beverages and culinary versatility. Sweet basil leaves are a staple ingredient in global cuisines, enhancing dishes like seafood, pork, vegetables, sauces, stews, and sausages. This ultra-niche and high-value crop not only adds flavor but also offers health advantages, making it a sought-after medicinal plant. With certifications like Global GAP ensuring quality standards and food safety, basil leaves are utilized in diverse applications, including garnishing elements in fast food items, pizzas, and baked goods.
Moreover, dried and roasted basil leaves are valued for their ornamental properties and are popular in Mediterranean and Italian cuisines, aligning with the growing trends of veganism and the demand for herbal supplements. Major players like Giorgio Fresh, Mastronardi Produce, Village Farms, and NatureFresh Farms drive the global market for basil leaves, catering to various industries, including the pharmaceutical sector for its antimicrobial properties and incorporation into teas, aromatherapy, and massage therapy for its calming effects and potential as an anti-cancer agent.
The market forecasting report covers market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Basil Leaves Market Scope |
|
Market Report Coverage |
Details |
Page number |
145 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.34% |
Market growth 2023-2027 |
USD 349.4 million |
Market structure |
USD Fragmented |
YoY growth 2022-2023(%) |
3.99 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
APAC at 29% |
Key countries |
US, Canada, China, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Bay Branch Farm, Dosner Organic Farms, Earthy Bliss Pvt. Ltd, Fresh India Organics LLP , Good Eggs Inc., Green Valley Garden Centre , GreenDNA India Pvt. Ltd., Herbal Haven, Jaycee Organics LLP, McFadden Family Vineyard and Farm, Mountain Rose Herbs, Mountain Valley Growers Inc., Rebel Herbs Inc. , Rocket Farms Inc., Sunantha Organic Farm Pvt Ltd., Synthite Industries Pvt. Ltd., True Leaf Farms Pvt Ltd., Williamson Wines, Wingreens Farms Pvt. Ltd., and ZECRYNE LLP |
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 market trends 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 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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