Basil oil is obtained from the herb known as
Ocimum basilicum. Basil
oil is known to be originated from Asia
-Pacific Islands but is currently grown all over the world. Basil oil is
considered to have several beneficial medicinal properties and is traditionally
used to treat common ailments cough, allergies, nervous disorders and
headaches. Due to its anti-inflammatory properties, basil oil is also used to
cure cuts and wounds.
Furthermore,
basil oil has a naturally sweet taste and is widely used as a flavor enhancer
in food industries. Basil oil is known to have anti-microbial properties and
also finds major applications in applications in cosmetics. It is used in skin
treatments for cure of acne and other skin infections. It is also used in
various hair care products either directly or in the form of blended oil with
other medicinal ingredients.
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Market
Segmentation:
The
segmentation of basil oil market is done on the basis of type, application, and
region.
On
the basis of type, the market is segmented into holy basil, tropical (exotic)
basil and Sweet Linalool Basil. Holy basil is native to India and is commonly
referred to as Tulsi and is considered a holy plant with a wide variety of
medicinal values. Sweet linalool basil is a relatively non-toxic variant of
basil oil and is used extensively in the personal care products. Tropical basil
oil is characterized by a strong, camphor like aroma and is used as a
rejuvenant and to treat respiratory conditions.
Based
on the applications, basil oil market can be segmented into food &
beverage, cosmetics and personal care products, home care products, therapeutic
massage oil, pharmaceutical and other Industrial Applications. Basil oil is
used in pharmaceuticals because of its properties which include its use in
treatment of arthritis, nervous disorders, use as an anti-depressant, against
allergies etc. due to all these medicinal properties, the pharmaceutical
segment of basil oil products is expected to grow at a strong rate.
Market
Regional Outlook:
Geographically,
the global basil oil market can be divided by major regions which include North
America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding
Japan, Japan and Middle East and Africa.
Asia
Pacific is found to be contributing major revenue of basil oil market both in
consumption as well as in production. Due to the advantages and wide
applications, the demand of basil oil is found to be increasing in North
America which will help in increasing the basil oil product’s demand in the
global market.
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Market
Drivers and Trends:
Basil
oil is used as a massage oil and is known to reduce inflammation and for the
treatment of muscle and joint pains. Basil oil is also used in aromatherapy as
it helps in reducing stress. Due to the increasingly hectic lifestyle of people
and associated health concerns, there is always an increased demand of stress
reducing solutions. This plays a major role in strengthening the basil oil
product market globally.
Basil
oil is used in cosmetic products because of its property to promote hair growth
and keeping the skin healthy. Women all over the globe have increased the use
of cosmetic products which are natural, herbal and do not cause any harmful
side effects. Basil oil in its pure form is free of any harmful chemicals which
increase their popularity amongst women and also increases the basil oil
product demand. Basil oil products are also used in treatment of respiratory
disorders. They are widely used in cough syrups in soothing sore throats. The
wide applications of basil oil in pharmaceuticals are one of the major key
drivers of basil oil market.
Basil
oil Market Key Players:
Some
of the key players in basil oil market are Daulos Organic Products, Organic
harvest, La Tourangell, HEALTHAID LIMITED, aKARZ, etc. The increasing
popularity of herbal and natural products amongst people has made the market
demand of existing players prominent and new players are expected to enter the
global basil oil market in near future.
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Food
and Beverages Sector
TMR has followed
the C19-TREND approach for
conducting a comprehensive analysis on the trends and changes in the food and
beverage sector due to the COVID-19 outbreak. Each factor is analyzed with
scrutiny. These points have been compiled in the report and will assure great
assistance to the stakeholders and CXOs in developing sound business
strategies.
