The new report by Expert Market Research titled, ‘Global Bay Leaf Market Size, Share, Price, Trends, Report and Forecast 2020-2025’, gives an in-depth analysis of the global bay leaf market, assessing the market based on its segments like products and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Forecast CAGR (2020-2025): 7%
The global bay leaf market has been aided by its rising use in the food industry. The use of the product in the food industry is being propelled by its extensive use in Indian and French traditional cuisines. In the coming years, the rising globalisation of tastes and the growth of fusion cuisines are expected to aid the market growth. The increasing demand for herbal tea and nutraceuticals is also projected to contribute to the market growth due to the nutritional content as well as the strong aroma of bay leaves. The product’s application as a natural insect repellent is also expected to gain wider traction in the coming years, which is expected to influence the market growth positively.
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Industry Definition and Major Segments
Bay leaf refers to a common aromatic leaf that is widely used in cooking in its entirety or in a dried and powdered form. It is also extensively used for medicinal purposes due to its anti-microbial and anti-ulcerogenic properties.
The major product types of bay leaf available in the market are:
• Conventional Bay Leaf
• Organic Bay Leaf
The bay leaf market, based on regions, can be segmented into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
The rising adoption of bay leaf oil in aromatherapy is expected to be a major trend guiding the growth of the market. The overall aromatherapy industry is estimated to witness a robust growth in the coming years due to the increasing awareness of the therapeutic properties of essential oils such as bay leaf oil. The use of bay leaf in aromatherapy is also supported by the rising demand for natural and organic products. Thus, organic bay leaf, in particular, is projected to witness a healthy demand in industries such as food and cosmetics. The rising penetration of online distribution channels is also expected to be a leading trend informing the growth of the market due to the increasing accessibility of the product globally.
Key Market Players
The major players in the market are Alpina Organic Co., ANATOLI SPICES SA, McCormick & Co., Inc. (NYSE: MKC), Mother Organic, and Pacific Spice Co. Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers, and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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