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Basil Essential Oil Market by Regional Analysis, Key Players and Forecast 2024
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Basil essential oil is available in various type which includes scented basil oil, exotic basil, holy basil, sweet linalool basil and tropical basil. Scented basil oil and exotic basil oil have wide application in perfume or cosmetic industry. Holy basil and sweet linalool basil essential oil are gaining importance due wide usage in pharmaceutical industry.
Basil Essential Oil Market: Segmentation:
By nature, the basil essential oil market is segmented into organic and conventional. The organic basil essential oil segment is anticipated to dominate the conventional basil essential oil segment over the years. Organic products are considered to be healthier and pure, thus increasing acceptance for organic labelled products among the consumers is expected to support the segment growth over the forecast period.
Basil essential oil is segmented on the basis of application. It has its applications mainly in pharmaceutical industry, cosmetics industry and food industry. For instance, basil essential oil is a good tonic for the treatment of nervous disorders and stress related headaches, migraines, and allergies. It is used to clear the mind and relieve intellectual fatigue while giving clarity and mental strength. Whereas scented basil essential oil ranges from lemon, clove, and cinnamon in the aroma. Basil essential oil is also applicable in the food industry, where it used to enhance the flavor of many recipes.
Basil essential oil is further segmented on the basis of distribution channel, which includes direct and indirect channels. When it comes to indirect distribution, the market is sub-segmented into modern stores, medical stores and food stores.
Basil Essential Oil Market: Regional Outlook:
Basil essential oil is popular in Europe, Asia-Pacific, and Middle East Region. In terms of volume consumption European region is expected to be dominant in global basil essential oil market. Asia-Pacific region is anticipated to grow at significant pace over the forecast period. The growth of personal care & cosmetic industry is expected to drive the market for basil essential oil. The basil essential oil is extensively used for culinary purposes in the Mediterranean region. In Asian countries like India and China, basil essential oil has been widely used for medicinal purposes for treatment of many diseases and illness such as indigestion, stomach cramp, asthma, bronchitis, bladder infection, stress disorder, which is further expected to support the market growth during the forecast period.
Basil Essential Oil: Drivers and Restraints:
Basil essential oil market is expected to be driven by increasing awareness for its associated health benefits and medicinal properties in its contents. Basil essential oil market is growing with its increasing application in personal care industry. The increase in a rate of diseases caused such as asthma; bronchitis, digestion problem has increased the consumption of medicine having ingredients of basil essential oil which is expected to drive the market growth. Moreover, increasing application of basil essential oil as an ingredient in cosmetic industry is also driving the market.
The cost factor of basil essential oil is a major factor hindring the growth of market. Basil essential oil is used widely as ingredient in cosmetic, personal care and healthcare industry which leads to increase in cost of final products.
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Basil Essential Oil Market: Key Players:
Some of the key players in this basil essential oil market are, d?TERRA International, Gangotri Essential Oils Pvt. Ltd, Eskage – Eskamint Schierholz GMBH, Life Resonance AG, Equinox Aromas and Bio Neuf.
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