Basil Essential Oil Market Outlook 2032
- The global basil essential oil market was valued at US$ 88.9 Mn in 2022
- It is estimated to expand at a CAGR of 6% from 2022 to 2032
- The global basil essential oil market is expected to reach value of US$ 159.5 Mn by the end of 2032
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Analysts’ Viewpoint on Basil Essential Oil Market Scenario
Companies in the basil essential oil market are focusing on high-growth end-use industries such as food & beverage and aromatherapy to keep their businesses growing post the COVID-19 pandemic. Due to raw material shortages, market vendors experienced supply chain interruptions. As such, the market is estimated to witness a significant growth rate (CAGR) of 6% during the forecast period, owing to its numerous health-benefitting properties. Moreover, the growing application of basil essential oil across sectors, the introduction of new products comprising basil essential oil, and the rising demand for aromatherapy among consumers are anticipated to drive the market in Europe during the forecast period.
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Overview of Basil Essential Oil Market
Basil essential oil is generally obtained from basil leaves and flowering tops. Basil essential oil is sometimes referred to as sweet basil, European or French basil. The essential oil has a watery viscosity and a faint greenish-yellow color. The aroma is peppery, distinct, and light, and it adds a lovely green top note to mixtures. Basil essential oil comes in a broad range of flavors, including exotic basil, perfumed basil oil, sweet linalool basil, holy basil, and tropical basil. Exotic basil oil and scented basil oil are used in perfume and cosmetic industries. Due to its widespread use in the pharmaceutical sector, holy basil and sweet linalool basil essential oil are gaining popularity.
Focus of Producers on Enhancing Shelf Life of Products to Propel Use of Basil Essential Oil
The global food & beverage industry is anticipated to grow at the fastest rate, with a valuation of US$ 18.5 Mn by the end of 2022, owing to the increased focus of food and beverage producers on enhancing product shelf life without impacting its quality. Consumer preference for organic over synthetic products, along with the growing demand for high-quality food is driving food and beverage manufacturers to integrate beneficial essential oil into their offerings.
Basil essential oil are utilized as a vital ingredient in the food & beverage industry to prepare ketchup, salad dressings, and Italian cuisines such as pasta sauces and pasta. Moreover, basil essential oil is also used to prevent fruit disease during storage after harvest. As a result, the utilization of basil essential oil as a long-term defect control procedure in tropical fruit value chains appears to be promising.
Basil is a potential option for bio-fortification due to its widespread use as a food & beverage ingredient is a vital factor boosting the basil essential oil market growth.
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Health Benefits Offered by Basil Essential Oil Such as Protection to Skin to Drive Global Market
Migraines, anxiety, mental strain, sadness, nervous tension, weariness, and other mental problems can be relieved by using the oil topically or inhaling them. It can be used to treat indigestion, constipation, stomach cramps, and flatulence. It is also used to treat intestinal pain. Basil essential oil contain anti-inflammatory compounds such as citronella, eugenol, and linalool.
Basil essential oil include phytochemicals that cater to maintaining healthy skin and protect skin cells & tissues by particular fortification. During the forecast period, the health advantages of basil essential oil are likely to boost sales of basil essential oil products. Continuous growth in urbanization, enhancing purchasing parity, and consumers inclining toward organic products are fueling up the growth of the food & beverage industry, which, in turn, is propelling the demand for basil essential oil.
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