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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.
What factors are influencing basil extracts industry growth in the U.S.?
U.S. market recorded USD 255.1 million revenue in 2022, owing to the presence of diverse population and the higher demand for basil extracts in various cuisines, including Italian, Thai, and Mediterranean in the region.
Who are the key basil extracts market players?
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, and NutraMarks, Inc. are some of the major basil extracts companies worldwide.
Why is the demand for liquid basil extracts growing?
The liquid form segment was valued at USD 575 million revenue in 2022, on account of its ability to enhance the flavor of various food and beverage products for catering to consumer taste preferences.
How big is the basil extracts market?
The market size of basil extracts reached USD 1100 million in 2022 and is set to cross USD 1552 million by 2032, due to the increasing consumer preference for natural and organic ingredients in food, beverages, and personal care products worldwide.