Basil Essential Oil Market is estimated to Rise at a CAGR of 6% during the Forecast Period, observes TMR Study

• Basil is a possible bio-fortification alternative due to its extensive usage as a food and beverage ingredient, which is likely to drive the basil essential oil market
• Organic basil essential oil is becoming increasingly popular, owing to a growing trend among cosmetic makers to include it in their products

ALBANY, N.Y., June 15, 2022 /PRNewswire/ -- The value of global basil essential oil market stood at US$ 88.9 Mn in 2022. The global market is anticipated to rise at a CAGR of 6% during the forecast period, from 2022 to 2032. The global basil essential oil market is estimated to attain valuation of US$ 159.5 Mn by 2032. The Europe market is expected to be driven by the expanding use of basil essential oil in various industries. In addition, the launch of new products using basil essential oil, as well as steadily increasing consumer desire for aromatherapy, are projected to boost demand. Aromatherapy is likely to be the fastest growing market for basil essential oil.

Market expansion is expected to be fuelled by food and beverage manufacturers' increasing focus on extending the shelf life of product without compromising on quality. Food and beverage businesses are incorporating beneficial essential oils into their offerings as a result of consumer inclination toward organic products and rising demand for high-quality food products. This factor is expected to likely to one of the recent developments in basil essential oil market.

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Basil essential oil is used in ketchup, salad dressings, and Italian food products including pasta as well as pasta sauces. Basil essential oil is also utilized to keep fruit diseases at bay after it has been harvested. As a consequence, the use of basil essential oil in tropical fruits as a defect control strategy looks promising in the long term. Basil is a possible bio-fortification alternative because of its extensive usage as a food and beverage ingredient, which is a major reason driving the basil essential oil market.

Key Findings of Market Report

• Based on nature, the conventional basil essential oil category is expected to represent a major share of 88.1% in 2022, along with a healthy growth rate during the forecast timeline. A large percentage of basil essential oil is generated employing a standardized extraction method using conventional raw ingredients, with just a few processors pursuing organic raw materials and turning them into oil as well as other value-added items.

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• Phytochemicals in basil essential oil contribute to the maintenance of healthy skin by fortifying skin tissues and cells. The health benefits of basil essential oil are expected to drive sales of basil essential oil products during the forecast timeline.
• In terms of end use, the aromatherapy segment is one of the key market segments in basil essential oil business. The category held a considerable share of 32% in 2022, and is likely to expand at a rate of 5.1% during the projection period.

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Global Basil Essential Oil Market: Growth Drivers

• Utilizing the oil by inhaling or topically applying it can help with mental strain, anxiety, fatigue, melancholy, nervous tension, migraines, and various other mental issues. Stomach pains, indigestion, constipation, and flatulence can all be treated with it. It is also utilized to relieve discomfort in the intestines. Citronella, linalool, and eugenol are anti-inflammatory chemicals found in basil essential oil.
• Demand analysis of basil essential oil market suggests that since Eastern culture has a strong effect on the fashion and beauty businesses, the market is expected to grow as a result of it. Due to their outstanding anti-aging benefits, essential oils are employed in a wide range of cosmetic preparations, resulting in cleaner and smoother skin. Owing to their anti-oxidant effects, essential oils are becoming increasingly popular in the cosmetics business. This factor is likely to offer revenue generation opportunities for the leading players in the basil essential oil market.

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Global Basil Essential Oil Market: Key Players

Some of the key market players are

• doTERRA International LLC
• Gangotri Essential Oil Pvt. Ltd.
• Ozone Naturals Pvt. Ltd.
• Young Living Essential Oil
• Blue Ridge Botanicals Co. Ltd
• Neals Yard Natural Remedies Ltd.

Global Basil Essential Oil Market: Segmentation

Nature

• Organic
• Conventional

End Use

• Food and Beverage Industry
• Pharmaceuticals
• Cosmetics and Personal Care
• Aromatherapy

Basil Essential Oil Market, by Region

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa

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