Demand for Bay Leaf Market to Soar from End-use Industries and Push Revenues in the Global Market
The Bay Leaf has gained widespread popularity as a product itself amongst consumers as well as an ingredient among the manufacturers thereby making it a successful B2B and B2C product. The Bay Leaf market can be segmented on the basis of application, form, and distribution channels.
On the basis of form, the bay leaf market is structured as whole leaf, as grounded powder form as well as oils. The whole leaf are used mostly for culinary use in many classic sauces such as bread sauce, tomato sauce, and béchamel. Bay leaf can also be added to flavor cuisines such as seafood, poultry, meat, and vegetable dishes. Bay leaf are also used to flavor sweet dishes like sweetbreads, custards, and cream.
On the basis of application, the bay leaf market can be segmented into food & beverage, pharmaceuticals, nutraceuticals, cosmetics & personal care and others. The uses of bay leaf include grinding the leaf into a spice to flavor soups and stews, but the leaf are most commonly added in the whole form as a flavoring for certain Italian dishes and are then removed or used as a garnish. Whole bay leaf are not commonly consumed. There is no extensive range of culinary application for bay leaf, although extracts of bay leaf have numerous medical uses. It is also a popular element in aromatherapy and herbal treatments for various skin and respiratory conditions which is leading growth of bay leaf market.
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On the basis of distribution channel, the global bay leaf market can be segmented into direct and indirect. The direct distribution channel operates directly between the manufacturers, super stockiest and the distributors. The indirect distribution channel where the consumers receive products directly from the retailers and it can be further sub-segmented into online retailing, convenience stores as well as hypermarkets/supermarkets.
Global market drivers and trends:-
The bay leaf market is anticipated to grow at a significant CAGR owing to its widespread uses. The use of bay leaf for its culinary application is more popular in the countries falling in the Mediterranean and Asia Pacific regions. Apart from the use in food & beverage, the other emerging applications of the baby leaf are its utilizations in cosmetics owing to its characteristics such as improvement in hair health.
Furthermore, it can be employed in pharmaceuticals and nutraceuticals as it aids in managing diabetes, helps to alleviate respiratory conditions, facilitates efficient digestion and nutrient intake, aids in lowering the amounts of stress hormone, aids in reducing inflammation caused by sore joints and arthritis and the like. The strong aroma of bay leaf makes it suitable for the use as an ingredient in essential oils for aromatherapy. The restraints of bay leaf market are few although evident such as the confusion amongst the people associated to the different plants of Lauraceae family which might be toxic.
Regional outlook: –
The consumption of bay leaf is expected to increase in Eastern and Western Europe and North America due to the increasing demands of avocado extract product in these regions. Asia-pacific region is the leading producer and is likely to keep the same production in the forecast period followed by other region like Japan and South Africa. South Africa has potential to become one of the leading bay leaf manufacturer as production in this region is appreciable. Middle-East is expected to show low to moderate growth in the bay leaf market.
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Market Key players:-
Some of the key players in the Bay Leaf market globally are McCormick & Company, Inc, Frontier Natural Products Co-op, Anatoli Spices, Mars, Incorporated, Pacific Spice Company, Inc., Zizira, Tea Haven, Just a Little Spice, and others. The bay leaf market is projected to grow over the forecast period with growing demand for nutrient rich products.
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