Bay Leaf Oil Market 2018-2028 Shares, Trend and Growth Report
The demand of the bay leaf oil had reduced in the past years. But, its demand has increased since 2017 due to the increasing demand of the natural essential oils. The bay leaf oil has many properties that make it an essential oil and is being used in many foodservice as well as in personal care and cosmetics. The main use of the bay leaf oil is in cosmetics and especially the bay leaf oil is used in products for hair growth. The bay leaf oil is also used extensively as a cooking oil in gourmet restaurants as well as at home due to the benefits bay leaf oil has for decongestion and lung problems.
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Dominica produced more than 85% of the bay leaf oil of the world’s total production: The Dominica nation in the Caribbean region where most of the plants of Pimento racemose are grown is a major bay leaf oil producing country. Almost 65% of the overall bay leaf oil of Dominica is from the co-operative called the Dominica Essential Oils and Spices Co-operative that is responsible for the manufacturing of bay leaf oil. The co-operative produces approximately 4,500 gallons of bay leaf oil per year. The bay leaf oil from the co-operative is either directly sold or is sold through brokers in the European or the US markets. The bay tree grows lays across the Dominica region. But the production and distilleries for the bay leaf oil are concentrated in the south-east of the Dominica region.
The local Caribbean use of the bay leaf oil in the Dominica region is in the preparation of Bay Rum. It is a popular after-shave for men which is prepared using bay leaf oil, spice oils, water, citrus and alcohol.
Bay Leaf Oil: Segmentation: The global bay leaf oil market has been segmented on the basis of Nature, Process of Extraction, End Use and Distribution Channel. On the basis of nature, the global bay leaf oil market has been segmented as- Organic,Conventional; On the basis of process of extraction, the global bay leaf oil market has been segmented as- Water distillation, Steam distillation, Solvent extraction; On the basis of end use, the global bay leaf oil market has been segmented as- Foodservice/HoReCa (Hotels/Restaurants/Cafes), Aromatherapy, Insect Repellent, Personal Care & Cosmetics, Household/Retail; On the basis of distribution channel, the global bay leaf oil market has been segmented as- B2B/Direct, B2C/Indirect, Supermarkets/Hypermarkets, Modern Grocery Stores, Specialty Stores, Traditional Grocery Stores, Online Retailers.
Bay Leaf Oil: Key Players: Some of the leading players of global bay leaf oil market include Aryan International, Essential Oils Company, Dominica Essential Oils and Spices Co-operative, Wildoils Pvt Ltd., Health and Beauty Natural Oils Co., Inc., Vigon International, Inc., Berjé Inc.
Bay Leaf Oil: Activities of the participants: Dominica Essential Oils and Spices Co-operative has started to refurbish its four artisan distilleries in the South of the Dominica island that has been destroyed by Tropical Storm Erika. This will lead to the co-operative producing more bay leaf oil and also expanding to produce other oils. Bay Leaf Oil: Opportunities: The bay leaf oil is a very niche market that requires higher quality equipment and also skilled labor to produce an appropriate amount of oil. This is the reason that not many manufacturers produce the bay leaf oil. The market for the bay leaf oil is increasing due to the increasing demand for the natural essential oils. This brings out a very good market opportunity for new players in the bay leaf oil market.
Also, the use of the bay leaf oil as an end-user as well as its further applications in the various end-use industry has been keeping the demand for the bay leaf oil in the market very high. Extensive research is also going on bay leaf oil and its applications which can open more end-use options and thus increase the demand for the bay leaf oil.
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Brief Approach to Research: The research report presents a comprehensive assessment of the market, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, application, product type, and mount type.
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