LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Basil Oil Market Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the agro commodities and raw materials industry. This report breaks down the data and analysis behind the procurement of basil oil and acts as an all-inclusive guide for making smart purchasing decisions.
“The growth of the global basil oil market is being driven by the high demand for natural products as the oil is made from fresh and natural ingredients and raw materials,” says SpendEdge procurement analyst A Kowshik. “Also, suppliers across the globe are developing proprietary techniques and technologies to produce basil oil with different blends such as eucalyptus, rosemary, juniper, lemon, and neroli,” added Kowshik.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Basil Oil Market:
- Rise in use of basil oil as raw material and for direct use
- Growing consumer preference and inclination for natural ingredients, including basil extracts
- Stringent regulations limiting the growth of niche products
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Rise in use of basil oil as raw material and for direct use:
There has been an increase in the use of basil oil as a raw material in food, cosmetics, pharmaceutical, and spa industries apart from its direct use owing to its antiviral, antifungal, analgesic, antibacterial, and anti-inflammatory properties. It is also used in products such as massage oils, bath soaks, and household cleaners. The buyers in this market space can source basil oil both as raw material for manufacturing their end-product and for direct sales, thereby resulting in a high opportunity for revenue growth.
Growing consumer preference and inclination for natural ingredients, including basil extracts:
The growing consumer's awareness about health benefits associated with organic and natural ingredients used in personal care, beverages, and household products has spurred the demand for basil extracts. Hence, there is a higher preference for organic and natural ingredients over synthetic products. Additionally, the therapeutic properties of basil have led to extensive use of basil extracts in medicinal and personal care products.
Stringent regulations limiting the growth of niche products:
The stringent regulations pertaining to the usage of basil oil have made it difficult for buyers to get approval for supplying small quantities of basil oil. This makes the buyers aware of legislation associated with the use of basil oil for producing food flavors. Moreover, by becoming a member of International Organization of the Flavor Industry, the buyers can automatically receive latest updates on legislative developments associated with the flavor industry.
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