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.
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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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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