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The Basil Essential Oil Market size was valued at USD 223.12 million in 2023 and is expected to grow to USD 330.18 million by 2032, with a growing CAGR of 6.1% over the forecast period of 2024-2032.
Basil essential oil is a volatile oil extracted from the leaves of the basil plant, Ocimum basilicum. Basil essential oil is used in aromatherapy, cosmetics, and food and beverage products. The Pharmaceuticals segment is anticipated to have the largest revenue market share in 2029. Due to its therapeutic properties, basil oil is used in pharmaceuticals for a variety of conditions, including the treatment of rheumatoid arthritis, and mental problems, as an antidepressant, and the prevention of hypersensitivity, among others.
Based on nature, the conventional segment in the Basil essential oil market is expected to have a major share of 90% in 2022. The majority of basil essential oil is produced using a standardized extraction technique from conventional raw materials; only a small number of processors pursue organic raw materials and convert them into oil and other value-added products.
Based on application, the aromatherapy sector is the emerging segment which is expected to grow at a rate of 5% over the course of the projection period, from its significant share of 33% in 2022.
KEY DRIVERS
Raising awareness about basil essential oil's health benefits
Basil oil has antibacterial and antiviral properties it is frequently used in aromatherapy to support the immune system and eliminate the infection. Basil essential oil reduces Inflammation, which is good for illnesses like eczema, asthma, and arthritis. Growing numbers of health and wellness bloggers and influencers endorse the use of basil essential oil due to its therapeutic properties increasing the awareness of basil oil. Consumers are increasingly using basil essential oil for several applications as they become more aware of the potential health advantages of natural products.
RESTRAIN
Competition from alternative essential oils
Some other essential oils are popular with consumers, such as lavender oil, peppermint oil, and tea tree oil. Customers can opt to purchase these essential oils instead of basil essential oil because they have similar advantages. All of these alternative essential oils are widely accessible and reasonably priced. Because of this, they appeal to customers looking for all-natural goods to enhance their health and well-being. The basil essential oil market faces competition from competing essential oils.
OPPORTUNITY
Expanding the use of basil essential oil in various end-user sector
Basil essential oil is used in various cosmetics and personal care products, such as soaps, shampoos, conditioners, and perfumes. As the basil essential oil has a pleasant aroma and several beneficial properties for the skin. Also, basil essential oils are widely used in various food and beverage products, such as teas, snacks, and sauces as basil essential oil has a unique flavor and aroma that can enhance the taste of food. The rising application of basil essential oil in the pharmaceutical and cosmetic segment drives the expansion of the market.
The expansion of basil essential oil markets
CHALLENGES
The Disruption in the supply of basil essential oil
Extreme weather and political instability may negatively impact basil crops and hinder the supply of basil essential oil. Drought can diminish the amount of basil planted, and flooding can harm basil plantings and make harvesting difficult. The transportation of basil essential oil from such countries may be problematic due to war or civil instability. A pandemic can interrupt basil essential oil delivery, and a health crisis can diminish demand for basil essential oil. Supply chain interruptions could pose a significant risk to the basil essential oil companies.
Russia is a major supplier of basil essential oil, and the war has hampered its supply. As a result, basil essential oil prices have risen, and there are shortages in some marketplaces. There have been shortages of basil essential oil in some markets, such as Europe and North America. The price of basil essential oil has increased by approximately 15% since the start of the war. A major European supplier of basil essential oil has halted shipments from Russia. This has resulted in basil essential oil shortages in various European markets. Supply chain interruptions made obtaining basil essential oil more difficult and expensive.
A recession can be detrimental to the basil essential oil market. During the COVID-19 epidemic, sales of basil essential oil products fell by 5% in the United Kingdom. Followed by disruption in the supply of basil oils has led to an increase in prices indirectly leading to a decrease in demand for basil essential oil. Prices for basil essential oil have risen by 20% as a result of the war, according to a significant North American supplier. The basil essential oil is now more expensive for consumers globally. Hence, consumers may prefer other essential oils, such as lavender oil and peppermint oil, which were perceived to be more affordable.
By Nature
Organic
Conventional
By Application
Food & Beverages
Cosmetics & Personal Care
Home Care Products
Aromatherapy
Pharmaceuticals
Others
North America is the major market for basil essential oil, accounting for more than 30% of the global market. The United States is North America's largest market, followed by Canada. The growing popularity of aromatherapy and the expanding use of basil essential oil in food and beverage items are driving demand for basil essential oil in North America.
Europe is estimated to be the second-largest market for basil essential oil, accounting for more than a quarter of the global market. Europe's main markets are France, Germany, and Italy. The growing popularity of natural and organic products, as well as the increasing use of basil essential oil in cosmetics and personal care products, are driving demand for basil essential oil in Europe.
Asia Pacific is the fastest-growing market for basil essential oil, accounting for more than 20% of the global market share. The biggest markets in the Asia Pacific region are China, India, and Japan. The expanding middle class and increased awareness of the health benefits of basil essential oil are driving the demand for basil essential oil in the Asia Pacific region.
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REGIONAL COVERAGE
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Some major key players in the Basil Essential Oil Market are doTERRA International LLC, Ozone Naturals Pvt. Ltd., Blue Ridge Botanicals Co. Ltd., Gangotri Essential Oil Pvt. Ltd., Young Living Essential Oil, Neals Yard Natural Remedies Ltd., Edens Garden Inc., GuruNanda LLC, New Directions Aromatics Inc., NOW Health Group Inc., Rocky Mountain Oils LLC, Balnea Spa, and other key players.
In 2023, NOW Foods a leading manufacturer of natural supplements launched a new line of basil essential oil products, including a basil essential oil capsule and a basil essential oil liquid extract.
Report Attributes | Details |
Market Size in 2023 | US$ 223.12 Million |
Market Size by 2032 | US$ 330.18 Million |
CAGR | CAGR of 6.1% From 2024 to 2032 |
Base Year | 2023 |
Forecast Period | 2024-2032 |
Historical Data | 2020-2022 |
Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
Key Segments | • By Nature (Organic, Conventional) • By Application (Food & Beverages, Cosmetics & Personal Care, Aromatherapy, Home Care Products, Pharmaceuticals, and Others) |
Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Company Profiles | doTERRA International LLC, Ozone Naturals Pvt. Ltd., Blue Ridge Botanicals Co. Ltd., Gangotri Essential Oil Pvt. Ltd., Young Living Essential Oil, Neals Yard Natural Remedies Ltd., Edens Garden Inc., GuruNanda LLC, New Directions Aromatics Inc., NOW Health Group Inc., Rocky Mountain Oils LLC, Balnea Spa |
Key Drivers | • Raising awareness about basil essential oil's health benefits |
Market Opportunity | • Expanding the use of basil essential oil in various end-user sector |
Ans: Basil Essential Oil Market is anticipated to expand by 6.1% from 2023 to 2030.
Ans: USD 337.7 million is expected to grow rate of the Basil Essential Oil market by 2030.
Ans: The Disruption in the supply of Basil Essential Oil is the challenge of the Basil Essential Oil Market.
Ans: The North American region dominated the Basil Essential Oil market in 2022.
Ans: Expanding the use of basil essential oil in various sectors and the expansion of basil essential oil markets are opportunities for the Basil Essential Oil Market.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.3. Introduction
4.3.1 Impact on Major Economies
4.3.1.1 US
4.3.1.2 Canada
4.3.1.3 Germany
4.3.1.4 France
4.3.1.5 United Kingdom
4.3.1.6 China
4.3.1.7 Japan
4.3.1.8 South Korea
4.3.1.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Basil Essential Oil Market Segmentation, By Nature
8.1 Organic
8.2 Conventional
9. Basil Essential Oil Market Segmentation, By Application
9.1 Food & Beverages
9.2 Cosmetics & Personal Care
9.3 Home Care Products
9.4 Aromatherapy
9.5 Pharmaceuticals
9.6 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Basil Essential Oil Market by Country
10.2.2 North America Basil Essential Oil Market by Nature
10.2.3 North America Basil Essential Oil Market by Application
10.2.4 USA
10.2.4.1 USA Basil Essential Oil Market by Nature
10.2.4.2 USA Basil Essential Oil Market by Application
10.2.5 Canada
10.2.5.1 Canada Basil Essential Oil Market by Nature
10.2.5.2 Canada Basil Essential Oil Market by Application
10.2.6 Mexico
10.2.6.1 Mexico Basil Essential Oil Market by Nature
10.2.6.2 Mexico Basil Essential Oil Market by Application
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Eastern Europe Basil Essential Oil Market by Country
10.3.1.2 Eastern Europe Basil Essential Oil Market by Nature
10.3.1.3 Eastern Europe Basil Essential Oil Market by Application
10.3.1.4 Poland
10.3.1.4.1 Poland Basil Essential Oil Market by Nature
10.3.1.4.2 Poland Basil Essential Oil Market by Application
10.3.1.5 Romania
10.3.1.5.1 Romania Basil Essential Oil Market by Nature
10.3.1.5.2 Romania Basil Essential Oil Market by Application
10.3.1.6 Hungary
10.3.1.6.1 Hungary Basil Essential Oil Market by Nature
10.3.1.6.2 Hungary Basil Essential Oil Market by Application
10.3.1.7 Turkey
10.3.1.7.1 Turkey Basil Essential Oil Market by Nature
10.3.1.7.2 Turkey Basil Essential Oil Market by Application
10.3.1.8 Rest of Eastern Europe
10.3.1.8.1 Rest of Eastern Europe Basil Essential Oil Market by Nature
10.3.1.8.2 Rest of Eastern Europe Basil Essential Oil Market by Application
10.3.2 Western Europe
10.3.2.1 Western Europe Basil Essential Oil Market by Country
10.3.2.2 Western Europe Basil Essential Oil Market by Nature
10.3.2.3 Western Europe Basil Essential Oil Market by Application
10.3.2.4 Germany
10.3.2.4.1 Germany Basil Essential Oil Market by Nature
10.3.2.4.2 Germany Basil Essential Oil Market by Application
10.3.2.5 France
10.3.2.5.1 France Basil Essential Oil Market by Nature
10.3.2.5.2 France Basil Essential Oil Market by Application
10.3.2.6 UK
10.3.2.6.1 UK Basil Essential Oil Market by Nature
10.3.2.6.2 UK Basil Essential Oil Market by Application
10.3.2.7 Italy
10.3.2.7.1 Italy Basil Essential Oil Market by Nature
10.3.2.7.2 Italy Basil Essential Oil Market by Application
10.3.2.8 Spain
10.3.2.8.1 Spain Basil Essential Oil Market by Nature
10.3.2.8.2 Spain Basil Essential Oil Market by Application
10.3.2.9 Netherlands
10.3.2.9.1 Netherlands Basil Essential Oil Market by Nature
10.3.2.9.2 Netherlands Basil Essential Oil Market by Application
10.3.2.10 Switzerland
10.3.2.10.1 Switzerland Basil Essential Oil Market by Nature
10.3.2.10.2 Switzerland Basil Essential Oil Market by Application
10.3.2.11 Austria
10.3.2.11.1 Austria Basil Essential Oil Market by Nature
10.3.2.11.2 Austria Basil Essential Oil Market by Application
10.3.2.12 Rest of Western Europe
10.3.2.12.1 Rest of Western Europe Basil Essential Oil Market by Nature
10.3.2.12.2 Rest of Western Europe Basil Essential Oil Market by Application
10.4 Asia-Pacific
10.4.1 Asia Pacific Basil Essential Oil Market by Country
10.4.2 Asia Pacific Basil Essential Oil Market by Nature
10.4.3 Asia Pacific Basil Essential Oil Market by Application
10.4.4 China
10.4.4.1 China Basil Essential Oil Market by Nature
10.4.4.2 China Basil Essential Oil Market by Application
10.4.5 India
10.4.5.1 India Basil Essential Oil Market by Nature
10.4.5.2 India Basil Essential Oil Market by Application
10.4.6 Japan
10.4.6.1 Japan Basil Essential Oil Market by Nature
10.4.6.2 Japan Basil Essential Oil Market by Application
10.4.7 South Korea
10.4.7.1 South Korea Basil Essential Oil Market by Nature
10.4.7.2 South Korea Basil Essential Oil Market by Application
10.4.8 Vietnam
10.4.8.1 Vietnam Basil Essential Oil Market by Nature
10.4.8.2 Vietnam Basil Essential Oil Market by Application
10.4.9 Singapore
10.4.9.1 Singapore Basil Essential Oil Market by Nature
10.4.9.2 Singapore Basil Essential Oil Market by Application
10.4.10 Australia
10.4.10.1 Australia Basil Essential Oil Market by Nature
10.4.10.2 Australia Basil Essential Oil Market by Application
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific Basil Essential Oil Market by Nature
10.4.11.2 Rest of Asia-Pacific Basil Essential Oil Market by Application
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Middle East Basil Essential Oil Market by Country
10.5.1.2 Middle East Basil Essential Oil Market by Nature
10.5.1.3 Middle East Basil Essential Oil Market by Application
10.5.1.4 UAE
10.5.1.4.1 UAE Basil Essential Oil Market by Nature
10.5.1.4.2 UAE Basil Essential Oil Market by Application
10.5.1.5 Egypt
10.5.1.5.1 Egypt Basil Essential Oil Market by Nature
10.5.1.5.2 Egypt Basil Essential Oil Market by Application
10.5.1.6 Saudi Arabia
10.5.1.6.1 Saudi Arabia Basil Essential Oil Market by Nature
10.5.1.6.2 Saudi Arabia Basil Essential Oil Market by Application
10.5.1.7 Qatar
10.5.1.7.1 Qatar Basil Essential Oil Market by Nature
10.5.1.7.2 Qatar Basil Essential Oil Market by Application
10.5.1.8 Rest of Middle East
10.5.1.8.1 Rest of Middle East Basil Essential Oil Market by Nature
10.5.1.8.2 Rest of Middle East Basil Essential Oil Market by Application
10.5.2 Africa
10.5.2.1 Africa Basil Essential Oil Market by Country
10.5.2.2 Africa Basil Essential Oil Market by Nature
10.5.2.3 Africa Basil Essential Oil Market by Application
10.5.2.4 Nigeria
10.5.2.4.1 Nigeria Basil Essential Oil Market by Nature
10.5.2.4.2 Nigeria Basil Essential Oil Market by Application
10.5.2.5 South Africa
10.5.2.5.1 South Africa Basil Essential Oil Market by Nature
10.5.2.5.2 South Africa Basil Essential Oil Market by Application
10.5.2.6 Rest of Africa
10.5.2.6.1 Rest of Africa Basil Essential Oil Market by Nature
10.5.2.6.2 Rest of Africa Basil Essential Oil Market by Application
10.6 Latin America
10.6.1 Latin America Basil Essential Oil Market by Country
10.6.2 Latin America Basil Essential Oil Market by Nature
10.6.3 Latin America Basil Essential Oil Market by Application
10.6.4 Brazil
10.6.4.1 Brazil Basil Essential Oil Market by Nature
10.6.4.2 Brazil Basil Essential Oil Market by Application
10.6.5 Argentina
10.6.5.1 Argentina Basil Essential Oil Market by Nature
10.6.5.2 Argentina Basil Essential Oil Market by Application
10.6.6 Colombia
10.6.6.1 Colombia Basil Essential Oil Market by Nature
10.6.6.2 Colombia Basil Essential Oil Market by Application
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America Basil Essential Oil Market by Nature
10.6.7.2 Rest of Latin America Basil Essential Oil Market by Application
11. Company Profile
11.1 doTERRA International LLC
11.1.1 Company Overview
11.1.2 Financials
11.1.3 Product/Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 Ozone Naturals Pvt. Ltd.
11.2.1 Company Overview
11.2.2 Financials
11.2.3 Product/Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 Blue Ridge Botanicals Co. Ltd.
11.3.1 Company Overview
11.3.2 Financials
11.3.3 Product/Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 Gangotri Essential Oil Pvt. Ltd.
11.4 Company Overview
11.4.2 Financials
11.4.3 Product/Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 Young Living Essential Oil
11.5.1 Company Overview
11.5.2 Financials
11.5.3 Product/Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 Neals Yard Natural Remedies Ltd.
11.6.1 Company Overview
11.6.2 Financials
11.6.3 Product/Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 Edens Garden Inc.
11.7.1 Company Overview
11.7.2 Financials
11.7.3 Product/Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 GuruNanda LLC.
11.8.1 Company Overview
11.8.2 Financials
11.8.3 Product/Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 New Directions Aromatics Inc.
11.9.1 Company Overview
11.9.2 Financials
11.9.3 Product/ Services Offered
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 NOW Health Group Inc.
11.10.1 Company Overview
11.10.2 Financials
11.10.3 Product/Services Offered
11.10.4 SWOT Analysis
11.10.5 The SNS View
11.11 Rocky Mountain Oils LLC
11.11.1 Company Overview
11.11.2 Financials
11.11.3 Product/Services Offered
11.11.4 SWOT Analysis
11.11.5 The SNS View
11.12 Balnea Spa
11.12.1 Company Overview
11.12.2 Financials
11.12.3 Product/Services Offered
11.12.4 SWOT Analysis
11.12.5 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. USE Cases and Best Practices
14. Conclusion
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