Global Bay Leaf Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Bay Leaf Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global bay leaf market report has been segmented as per product type, form, application, and region.
Global Bay Leaf Market: Overview
Bay leaf is an aromatic leaf which is commonly used in cooking to increase taste of the food. These leaf are also used for various medicinal purpose across the globe. Bay leaf can be use in the form of ground dried pieces or whole dried or fresh leaves for various applications. These leaf are referred by variety of names in different regions and by its origin such as Bay laurel, California bay leaf, Indian bay leaf, Mexican bay leaf, Indonesian bay leaf, and West Indian bay leaf. These leaves are used in preparation various food dishes such as stews, fish sauces, soups, confectionaries, meat, and other dishes.
Global Bay Leaf Market: Dynamics
Market expansion of various industry verticals such as food and beverage industry, personal care and cosmetics industry, and healthcare industry across the globe are major factors expected to fuel growth of the global market over the forecast period. In addition, rising use of bay leaf in cooking of seasonally cooked and processed foods and in beverages to improve overall taste and to enhance nutritional value. These are major factors expected to fuel growth of the target market during forecast period.
Increasing penetration of nutraceutical and pharmaceutical products due to rising health consciousness among individuals is another key factor expected to boost growth of the global market during the forecast period. In addition, increasing adoption of bay leaves due to various health benefits of bay leaf that helps to control diabetes, reduce respiratory conditions, lower stress, and manage hormone level is another major factor expected to propel growth of the target market over the forecast period.
Furthermore, rising use of bay leaves oil in aromatherapy, in personal care, and in cosmetics products such as shampoo, soap, and detergents due to its strong aroma. These are other major factors expected to boost demand of bay leaf across the globe over the forecast period.
However, availability of substitute products in the market and confusion among users about the various plants of laurels family which may be toxic in nature. These are some key factors expected to hamper growth of the global market to a certain extent.
Global Bay Leaf Market: Segment Analysis
Rising popularity of aromatherapy treatments among individuals and high adoption of bay leaf from cosmetics and personal care product manufacturers across the globe are major factor driving revenue growth of the cosmetics segment among the application segment.
Among the forms, the oil segment is expected to register significant growth in the global bay leaf market, owing to increasing demand for processed food and beverages across the globe.
Global Bay Leaf Market: Region Analysis
The Asia Pacific bay leaf market is expected to contribute largest market share in terms of revenue in the global market, and is projected to maintain its dominance over the forecast period. This is attributed to high presence of prominent players, rising demand for bay leaf powder and essential oils by various industry verticals in countries in this region. Bay leaf market in North America is projected to register a significant growth in terms of CAGR in the global market followed by market in Europe, owing to increasing awareness about medicinal properties of the bay leaf and rising usage of bay leaf in various food dishes by individuals in countries in these regions.
Global Bay Leaf Market Segmentation:
Segmentation by product type:
- Bay Laurel
- Indian Bay Leaf
- California Bay Leaf
- Indonesian Bay Leaf
- Mexican Bay Leaf
- West Indian Bay Leaf
Segmentation by form:
- Whole Leaf
Segmentation by application:
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- House of Spices (India) Inc.
- Mars, Incorporated
- McCormick & Company, Incorporated
- Frontier Natural Products Co-op Inc.
- Anatoli Spices
- Pacific Spice Company, Inc.
- Alpina Organic Company
- Mountain Rose, Inc.
- The Spice Hunter, Inc.
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