Selbyville, Delaware, Jan. 17, 2024 (GLOBE NEWSWIRE) --
The basil extracts market valuation is anticipated to reach USD 1.5 billion by 2032, as reported in a research study by Global Market Insights Inc.
The industry is driven by the increasing consumer preference for natural and organic products. As the global population becomes more health-conscious and aware of the potential long-term effects of synthetic additives, there is a shift towards natural alternatives.
Basil extracts, with their inherent health benefits, have gained popularity as an essential ingredient in various products. The rise in disposable income and changing lifestyle patterns have further contributed to the demand for premium and organic basil extracts. As of November 2023, the disposable personal income in the United States was USD 20510.37 billion. As manufacturers strive to meet the escalating product demand by providing high-quality basil extracts, the industry will witness sustained growth.
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The basil extracts market from the powder form segment is predicted to witness substantial growth till 2032, due to the convenience, longer shelf life, and ease of transportation. Food & beverage manufacturers are incorporating basil powder into a range of products, including sauces, seasonings, and snacks to enhance flavor profiles and cater to the growing demand for natural ingredients. The powder form also presents advantages in terms of dosage precision, making it a preferred choice in the pharmaceutical industry for medicinal and nutritional supplements. The shift towards versatile and convenient applications in various industries will augment the demand for powdered basil extracts.
The pharmaceuticals application segment will record a strong CAGR from 2023 to 2032, owing to the herb's well-documented medicinal properties. Basil extracts possess anti-inflammatory, antimicrobial, and antioxidant properties, making them valuable additions to pharmaceutical formulations. Its therapeutic potential is being harnessed in the development of drugs and supplements for conditions ranging from respiratory disorders to cardiovascular health. As the pharmaceutical industry increasingly explores natural remedies and herbal supplements, basil extracts are finding their way into a range of products aimed at improving overall health and wellness.
Europe basil extracts market is expected to expand swiftly through 2032, due to the rising demand and consumption of basil-derived products. The region's affinity for culinary diversity and natural ingredients has spurred the integration of basil extracts into various traditional and innovative dishes. The growing awareness of health and wellness has led to a surge in preference for products containing natural ingredients like basil extracts. The pharmaceutical sector in Europe is also actively exploring the potential therapeutic applications of basil extracts. The favorable regulatory environment and increasing investments in R&D activities related to herbal products position Europe as a key hub for basil extracts, propelling the market expansion.
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Some of the key players in the basil extracts market are Naturex (now part of Givaudan), Indena S.p.A., Arjuna Natural Pvt. Ltd., The Green Labs LLC, Nutra Green Biotechnology Co., Ltd., Kalsec Inc., Amoretti, Shaanxi Jiahe Phytochem Co., Ltd., Synthite Industries Ltd., Kefiplant, Mountain Rose Herbs, Bio-Botanica Inc., Nature's Answer, OliveNation, and NutraMarks, Inc.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Industry coverage
1.2 Market scope & definition
1.3 Base estimates & calculations
1.3.1 Data collection
1.4 Forecast parameters
1.5 COVID-19 impact analysis at global level
1.6 Data validation
1.7 Data Sources
1.7.1 Primary
1.7.2 Secondary
1.7.2.1 Paid sources
1.7.2.2 Unpaid sources
Chapter 2 Executive Summary
2.1 Basil extracts market 360º synopsis, 2018 – 2032
2.2 Business trends
2.3 Form trends
2.4 Application trends
2.5 Distribution channel
2.6 Regional trends
Chapter 3 Basil extracts Market Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.2 Industry pitfalls & challenges
3.3 Growth potential analysis
3.3.1 By form
3.3.2 By application
3.3.3 By distribution channel
3.4 COVID- 19 impact analysis
3.5 Regulatory landscape
3.5.1 U.S.
3.5.2 Europe
3.6 Pricing analysis, 2022
3.7 Reimbursement scenario
3.8 Technology landscape
3.9 Future market trends
3.10 GAP analysis
3.11 Porter's analysis
3.12 PESTEL analysis
3.13 Impact of Russia Ukraine war
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
