Global Basil Essential Oil Market to Hit USD 159.5 Mn by 2032, Growing at 6% CAGR | TMR Study

The global basil essential oil market, valued at US$ 88.9 Mn in 2022, is set for significant growth, with an estimated CAGR of 6% from 2022 to 2032. By the end of 2032, the market is projected to reach a valuation of US$ 159.5 Mn. This promising trajectory is driven by its growing applications across industries, including food & beverage, cosmetics, and aromatherapy.

Gain an understanding of key findings from our Report in this sample - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=28817

Market Size and Growth

The global basil essential oil market is poised to expand at a CAGR of 6% during the forecast period. Rising consumer demand for natural, organic products and the burgeoning food & beverage and cosmetic industries are fueling this growth.

In 2022, the food & beverage sector accounted for a valuation of US$ 18.5 Mn, reflecting the growing integration of basil essential oil as a natural ingredient for enhancing shelf life and flavor in products like ketchup, salad dressings, and pasta sauces. Similarly, the cosmetic industry's increasing use of basil essential oil for its anti-aging and skin-protective properties is expected to significantly contribute to market expansion.

Competitive Landscape

The basil essential oil market is consolidated, with a few key players commanding a significant share. Companies such as doTERRA International LLC, Edens Garden Inc., Young Living Essential Oils, and Radha Beauty Products LLC are at the forefront, focusing on research and development to launch innovative products.

Strategies such as portfolio expansion and mergers & acquisitions are common among these players. For instance, international standards set by organizations like the European Union and the United Nations ensure the production of high-quality, certified organic basil essential oil, giving an edge to companies adhering to these criteria.

Market Segmentation

The basil essential oil market is segmented based on nature and end-use industries:

Nature:

• Organic: Gaining traction due to the rising trend of clean beauty and natural products. Organic basil essential oil is highly valued for its superior quality and eco-friendly production process.

• Conventional: Dominates the market with an 88.1% share in 2022, owing to its cost-effectiveness and standardized extraction methods.

End-Use Industries:

• Food & Beverage: Essential for flavor enhancement and shelf-life extension.

• Cosmetic & Personal Care: Used for its antioxidant and anti-aging properties.

• Aromatherapy: Accounts for a 32% share in 2022, driven by the growing popularity of essential oils for mental and physical wellness.

Explore our report to uncover in-depth insights - https://www.transparencymarketresearch.com/basil-essential-oil-market.html

Regional Analysis

South Asia leads the basil essential oil market, holding a 25% value share in 2022, with India contributing significantly. India's dominance is attributed to its established agricultural base and increasing demand for natural products.

East Asia follows as the second-largest market, holding a 22.3% share. Aromatherapy and food & beverage industries in this region are experiencing robust growth.

While Latin America holds a larger market share compared to the Middle East & Africa, the latter region is anticipated to grow at a faster pace during the forecast period.

More Trending Reports by Transparency Market Research -

Astaxanthin Market: https://www.transparencymarketresearch.com/astaxanthin-market.html

Hibiscus Extract Market: https://www.transparencymarketresearch.com/hibiscus-extract-market.html

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact:

Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Email: sales@transparencymarketresearch.com
Follow Us: LinkedIn| Twitter| Blog | YouTube

This release was published on openPR.