BASIL EXTRACTS MARKET ANALYSIS

Basil Extracts MarketSize and Trends

Market Trends

Extensive research studies have been conducted therapeutic properties of basil have led to Basil extracts have witnessed increased demand due to extensive use in medicinal and personal care products such as those used to cure infections such as keloids, raised scars, acne, and mouth ulcers. Basil extracts is also used in curing dental problems such as pyorrhea, bad breath, bleeding gums, tooth decay, and is also an effective antioxidant. Changing consumer preference characterized by higher inclination towards products made from natural ingredients is influencing major players in the pharmaceuticals and cosmetics industries to develop products using natural ingredients such as basil extracts. Basil extracts also finds application in minimal amount in food and beverages industry such as herbal tea and in preparation of pesto. Thus, increasing application areas of basil extracts is expected to significantly boost basil extracts market revenue over the forecast period (2016–2024).

Increasing awareness among the populace about the various health benefits associated with basil and growing adoption of basil in various pharmaceutical and cosmetics products, by virtue of basil being a natural ingredient and rising consumer inclination towards all-natural products, is expected to argue favorably for rampant growth of the market in North America in the near future. Holy Basil has been granted the status of 'Generally Recognized as Safe' (GRAS) by the U.S. FDA, which is expected to pave way for increasing regulatory approval for various applications. Basil is expected to be incorporated into packaging films to offer superior antimicrobial properties (Study of Antimicrobial Polymeric Packaging Films Containing Basil Extracts, Panuwat Suppakul, Victoria University, 2004). Commercialization of the same would create a new growth avenue for basil.