New market research study by Technavio on the global basil essential oil marketprojects the market to grow at a CAGR of close to 8% during the period 2019-2023. This research report provides an in-depth analysis of the market in terms of revenue, top drivers and emerging market trends. It also includes detailed insights and forecasts for all the market segments across different geographies.
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Technavio has published a new market research report on the global basil essential oil market from 2019-2023. (Graphic: Business Wire)
Health benefits of basil essential oil
Awareness about the health benefits of basil essential oils is increasing significantly among consumers across the world. Basil essential oil is a natural relaxant that can help in relieving stress, nervous tension, depression, anxiety, fatigue, mental strain, migraine, and other mental conditions. It also helps in reducing skin inflammation as it contains eugenol, citronella, and linalool. Furthermore, basil essential oil is also used for treating indigestion, constipation, stomach cramps, and flatulence. Such extensive heath benefits of using basil essential oil will propel its demand during the forecast period.
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Increasing demand for organic and cold-pressed basil essential oil
The organic variant of basil essential oil is gaining immense popularity worldwide as organic products are considered healthier and safer than conventional products. This has led a number of vendors in the market to offer organic variants of basil essential oil. Organic products are certified by various government bodies such as the USDA. Apart from organic products, the market is witnessing an increased demand for cold pressed basil oil, that does not involve the usage of heat to extract oil. This is because heating can degrade the oil's flavor and nutritional quality.
According to a senior analyst at Technavio for packaged foods, "Apart from the increasing demand for organic and cold-pressed basil essential oil, other factors such as the rising demand for aromatherapy, and the expanding retail space will have a significant impact on the growth of the basil essential oil market during the forecast period."
Stringent regulations
Government agencies across different countries have imposed stringent regulations regarding the sale, marketing, and labeling of basil essential oil. These regulations pertain to permits, the entry of new players, residual management issues, and expiry dates for products. These regulations depend on the final product in which the essential oil is used. If the final product is marketed as a medicinal product, the essential oil needs to comply with the pharmaceutical requirements. Although the stringent and varying regulations in different countries will render it difficult for companies to comply with the regulations, it will ensure the production of optimum products.
Top players in the global basil essential oil market:
- doTERRA International
- Edens Garden
- GuruNanda
- NOW Foods
- Young Living Essential Oils
Some of the key topics covered in the global basil essential oil market include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. It provides detailed market research reports that provide clients with actionable insights to help them identify market opportunities and design effective strategies to optimize their market position.
With over 500 specialized analysts, Technavio boasts of an extensive report library comprising of over 10,000 reports, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than a hundred Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets. Technavio helps companies to assess their competitive position within changing market scenarios.
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