Bay Leaf Market

Bay Leaf Market – Size, Share, Outlook, and
Opportunity Analysis, 2018 – 2026
Bay leaf is an aromatic dried leaf of bay tree, majorly cultivated in the Mediterranean
region. Bay leaf finds its major application as culinary herb for flavor in food
preparation. Apart from cooking, it also possesses medicinal benefits and used to
control blood sugar level, kidney stones, appetite stimulant, and others. Bay leaf has
high content of lauric acid, which is used to produce insect repellant.
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Market Dynamics:Bay leaf finds its major application in food & beverages industry for the seasoning of
processed and cooked foods owing to its great flavor and health benefits. It is also
used in beverages to enhance taste and nutritional value. Growing demand for
processed food & beverages owing to increasing population and changing lifestyle is
expected to propel demand for bay leaf during the forecasted period. For instance,
according to Institute for Plant and Food Research, New Zealand, global food &
beverages industry was pegged at US$ 5.8 trillion in 2016, and expected to reach
US$ 20 trillion by 2030, with 5% annual growth.
Bay leaf contains 1.5-2.5% essential oil by weight, which has various applications in
the cosmetics and personal care industry. It is used in shampoo and oil to treat
dandruff, Bay leaf oil is also used in soaps and detergents. Growing cosmetics &
personal care industry is expected to provide major traction to global bay leaf
industry. For instance, according to European Commission, Directorate General for
Enterprise and Industry, in 2016, the cosmetic industry in Europe was valued at US$
115.44 billion, which is expected to reach US$ 178.8 billion by 2026, with a CAGR of
Market Outlook:Europe held the dominance in the consumption of bay leaf in the global market,
owing to its multiple applications in food & beverages, pharmaceutical and personal
care & cosmetics industries in the region. The region is also expected to witness
high growth rate in the bay leaf market during the forecast period. For instance,
according to Eurostat Database 2018, Germany imported 409 tons of bay leaves in
2015, which increased to 522 tons in 2017.
Key Players in the Global Bay Leaf Market:Key players operating in the global bay leaf market include Augustus Oils Ltd.,
Alpina Organic Company, Naturevibe Botanicals, Zizira, McCormick & Company Inc.,
Masterfoods Australia New Zealand Ltd., Aldera Co. Ltd., Hoby Agriculture and
Forest Product Co. Ltd., Mountain Rose Inc. and Pacific Spice Company Inc.
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The research report on Bay Leaf Market is segmented by Form, by Type, by Application, by Distribution Channel and by Region – Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026