Visiongain has published a new report on Basil Extract Market Report to 2031: Forecasts By Form (Powder, Capsule, Oil), By Application (Pharmaceuticals, Personal Care Products, Food & Beverages), By Distribution Channel ((Online Channels, Offline Channels (Organized Retail (Supermarkets & Hypermarkets, Convenience Stores, Departmental Stores, Others), Unorganized Retail)) PLUS Profiles of Leading Basil Extract Manufacturing Companies and Regional and Leading National Market Analysis, PLUS COVID-19 Recovery Scenarios.

Global Basil Extract market was valued at US$ XX million in 2020 and is projected to reach at a market value of US$ XX million by 2031. Increasing demand for natural and organic ingredient by the consumers in cosmetics industry is propelling the market growth.

COVID-19 Impact on Basil Extract Market

COVID-19 has not directly impacted the basil extract market, but the as most of the manufacturing plants were closed for brief period of time, the demand from the end-users declined. The manufacturing facilities of basil extract also shut down along with the disruptions in the logistics and supply chain. This led the increase in demand supply gap in addition to the financial losses to the companies in the market. The manufacturers of basil extract eventually focused onto new business opportunities and strategies to ensure financial stability. However, the lockdown due to coronavirus pandemic gave the manufacturers significant time to invest into new product developments and technologies to stay competitive in the basil extract market.

Market Drivers

Numerous health benefits associated with the consumption of basil extract

Basil is an excellent source of antioxidants and contains water soluble flavonoids called viceninare and rientin that helps in protecting white blood cells. It also been help fight to free radical damage and helps beat inflammation, which is the root cause of most of the chronic diseases. Basil contains natural antibacterial properties and also helps in boosting the immune system. Essential oil stimulate neurotransmitters, that regulates the hormones responsible for inducing energy and happiness, thereby helps in managing anxiety and depression. Owing to the multiple benefits related to basil extract, they are widely being used in food & beverage, pharmaceutical and personal care industry. This is leading to the increasing demand for basil extracts across the globe and in numerous applications.

Considerable use of basil extract in the cosmetics industry is fuelling the market demand

Basil extracts softens the skin and protect it against dryness, skin irritation, allergies, and is often useful in dealing with acne. It also stimulates blood circulation and epidermis that helps in reducing wrinkles significantly. People across the globe are now more concerned and highly aware about the need for personal care and the demand for personal care products is primarily driven by the emerging economies. The rise in income levels of consumers from the emerging economies is resulting into increasing expenditure on skin and hair care products. Additionally, the cosmetics industry is witnessing a trend of natural and organic cosmetic products is pushing the cosmetic manufacturers to develop products with natural and organic ingredients. More than 80% of the Generation Z population are willing to purchase natural and organic skin care products along with willingness to pay a premium price for these products. This trend is propelling the growth of basil extract market.

Market Opportunities

Research and development to ensure high quality and increased yield of oil from basil plant

The players in the basil extract manufacturing sector are developing new technologies and techniques to be used across the value chain of the industry in order to improve the quality and amount of extract derived from the basil plant. Light modification by color shade net manipulation helps in synthesis of bioactive compounds that affects the quality and quantity of essential oils in basil plant. Plants are grown under the blue net have the highest antioxidant activity and eugenol content. Additionally, studies were carried out to study the effective technique for extraction of essential oils from Egyptian basil leaves. The results suggested that solvent-free microwave extraction (SFME) is more effective extraction technique that provides richer source of natural antioxidants and strong antimicrobial agents to preserve food. Studies are further being conducted to improve the yield of oil from the basil plants, which will escalate the market for basil extract during the forecast period.

Use of basil extract in a variety of culinary applications

Basil extract is used in the preparation of ice cream, baking and beverages among other food applications. The increasing consumer preference for fresh and natural flavors is driving innovations in the food industry to use basil extracts for flavouring the products. Flavor trends such as tropical flavors and green herbs is the rising preference for consumers. The preference for natural ingredients and flavors is trending globally. Additionally, the increasing global population is driving the demand for food and hence the flavoring agents like basil extract. The increasing use of basil extract in the culinary applications across the key geographies is accelerating the demand for basil extract market.

Competitive Landscape

Some of the companies profiled in the report include Henry Crodarom, AMORETTI, A.M. Todd Botanical Therapeutics, FLAVEX Naturextrakte, Penta Manufacturing Company, and Salicylates And Chemicals Pvt. Ltd. among others. The players in the basil extract market are using strategies such as new product launch, partnerships, and joint ventures among others to grab the high potential Basil Extract market. For instance, in April 2018, Baidyanath Ayurved introduced a new basil extract product called ‘Tulsi Ark’ for use in medicinal healing and other health benefits.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 20 7549 9987.

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