Asia Pacific is the major producer and consumer of basil extract and associated products, with India being the largest producer. The region is expected to retain its dominance in the basil extracts market over the forecast period. 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. However, certain side-effects associated with basil extracts, such as increase risk of liver cancer due to presence of estragole chemical, bleeding disorders, and lower blood pressure to dangerous levels in patients with low blood pressure, inhibit market growth to a certain extent.
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Basil oil has wide range of health benefits and is used in treating nausea, indigestion, constipation, motion sickness, diabetes, and respiratory problems. A major application of basil extracts and one that is projected to be a major growth driver is its application in cancer treatment. Basil contains phytochemicals which help prevent chemical induced lung, skin, oral and skin cancers. For instance, holy basil leaf extract decreases tumorigenicity and metastasis of aggressive human pancreatic cancer cells in vitro and in vivo and thus can lead to development of alternative therapies for treatment of lethal pancreatic cancer (National Center for Biotechnology Information, U.S. National Library of Medicine, 2013). This creates a highly lucrative growth opportunity that has led to the entry of new manufacturers in the basil extracts market recent past. Basil extracts can also help alleviate various health issues such as diabetes by lowering blood sugar, aid weight loss by enhancing various metabolic functions of the body, and also helps improve blood circulation, in turn improving overall cardiovascular health. It is also used to treat anxiety, adrenal fatigue, and hyperthyroidism. Basil oil is a good source of Vitamin A, magnesium, iron, calcium, and potassium and thus, is extensively used in the capsule form as a health supplement. Besides, basil oil is also used for cooking dry fish and spicy soups.
Research and development of bioprocessed basil extracts is one of the key strategies adopted by the key players to stay ahead in the basil extracts market. Some of the major companies operating in the global basil extracts industry include NOW Foods, Kefiplant, Amoretti, FLAVEX Naturextrakte GmbH, A.M. Todd Botanical Therapeutics, DaXingAnLing Lingonberry Organic Foodstuffs Co., Ltd. and Arora Aromatics Pvt. Ltd.
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Basil Extracts Market Taxonomy
On the basis of form, the global market is classified into:Oil,Powder,Capsule
On the basis of application, the global market is classified into:Personal Care,Pharmaceuticals,Food and beverages