Basil Extracts Market Size - By Form (Liquid, Powder, Oil), Application (Food and Beverages, Cosmetics and Personal Care, Pharmaceuticals, Others), Distribution channel (Retail Stores, Online Retail, Others) & Global Forecast, 2023 – 2032

Basil Extracts Market Size

Basil Extracts Market size was valued at USD 1.1 billion in 2022 and is estimated to expand at a CAGR of 3.3% between 2023 and 2032. Basil extracts are widely used in the food and beverage industry to enhance flavors in various dishes, sauces, dressings, and beverages. Basil is perceived as having potential health benefits due to its antioxidant and anti-inflammatory properties, driving demand for basil extracts in supplements and functional foods.
 

Consumer preference for natural and organic ingredients in food, beverages, and personal care products contributes to the demand for basil extracts as a natural flavouring and ingredient. The use of basil in traditional and ethnic cuisines, such as Italian, Thai, and Mediterranean, fuels the demand for basil extracts in global food markets.
 

Basil is a seasonal herb, and its availability can be limited to specific times of the year. Ensuring consistent quality and standardization of basil extracts can be challenging due to variations in basil varieties, growing conditions, and extraction methods. Basil cultivation can put strain on water resources and face challenges related to pesticide use and soil health.
 

COVID-19 Impact

The closure of restaurants, cafes, and other foodservice establishments led to a decreased demand for basil extracts used as ingredients in these establishments. With more people cooking at home, the demand for packaged foods and ingredients, including basil extracts, for home cooking saw a temporary increase. Thus, the reduced number of COVID-19 cases and implementation of subsequent strategies by government and non-government organizations is set to drive the market growth.
 

Basil Extracts Market Trends

Consumers are increasingly seeking natural and clean label products, driving the demand for basil extracts as natural flavorings and additives. Basil extracts are recognized for their potential health benefits, including antioxidant and anti-inflammatory properties, aligning with the growing health and wellness trends. The popularity of global cuisines has increased the demand for basil extracts, especially in dishes from Thai, Italian, and Mediterranean cuisines.
 

Basil Extracts Market Analysis

The basil extracts market from liquid form segment dominated around USD 575 million revenue in 2022. Liquid basil extracts are used to enhance the flavor of various food and beverage products, catering to consumers' taste preferences. Liquid extracts are easy to incorporate into recipes, making them convenient for both home cooks and food manufacturers.
 

The Food and Beverages segment accounted for 35.3% of the basil extracts market share in 2022. Basil extracts are used to enhance the flavor of a wide range of food products, meeting consumer preferences for unique and appealing taste profiles.
 

The basil extracts market from Retail Stores segment is anticipated to grow at 3.8% CAGR through 2032. Supermarkets and hypermarkets offer a one-stop shopping experience for consumers, making it convenient to purchase basil extracts along with other groceries.
 

U.S. basil extracts market size reached USD 255.1 million in 2022. North America's diverse population leads to increased demand for basil extracts in various cuisines, including Italian, Thai, Mediterranean, and more.
 

Basil Extracts Market Share

Some of the major companies operating in the basil extracts market are:

• Naturex (now part of Givaudan)
• Arjuna Natural Pvt. Ltd.
• Nutra Green Biotechnology Co., Ltd.
• Indena S.p.A.
• Amoretti
• Synthite Industries Ltd.
• Mountain Rose Herbs
• Nature's Answer
• NutraMarks, Inc.
• The Green Labs LLC
• Kalsec Inc.
• Shaanxi Jiahe Phytochem Co., Ltd.
• Kefiplant
• OliveNation
• Bio-Botanica Inc.

These companies focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these companies are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
 

Basil Extracts Industry News:

• In March 2021, The Martin Bauer Group, a global manufacturer and provider of quality teas and botanicals, declared the acquisition of a majority stake in Power Brands.
   

This basil extracts market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Units from 2018 to 2032, for the following segments:

Click here to Buy Section of this Report

Market, By Form

• Liquid
• Powder
• Oil

Market, By Application

• Food and Beverages
• Cosmetics and Personal Care
• Pharmaceuticals
• Others

Market, By Distribution Channel

• Retail Stores
• Online Retail
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Malaysia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Egypt