The frozen basil leaves market is estimated to secure a valuation of US$ 7.6 Billion in 2023 and is estimated to rise to US$ 11.8 Billion by 2033. The market is anticipated at a CAGR of 4.5% during the forecast period. the factor accelerating the demand for frozen basil leaves are as follows-
The change in consumer lifestyle has prompted the need for the provision of convenience food globally. And this has fostered the rise in demand for frozen basil in the global market. The global frozen basil leaves market is expected to witness a stupendous opportunity for development owing to the rising use of frozen basil leaves in sauces, salads, garnishes, and others.
The frozen basil leaves the market in North America is growing due to the increasing demand for frozen basil leaves in different cuisines. Frozen basil leaves manufacturers in the region are also focusing on new product development and that is expected to boost the target market in the North American region.
Europe accounts for the highest market share in the frozen basil leaves market owing to the increasing demand for herbs in the region. Moreover, the significant growth of the food & beverage industry in developing regions such as APEJ and Latin America is expected to contribute to the growth of the frozen basil leaves the market in the forecast period.
The increasing demand for frozen basil leaves is due to the rising preference of companies to develop new unique products that will aid in market expansion. The emerging key manufacturer of frozen basil leaves is utilizing the opportunity and offering frozen basil leaves products through various distribution channels. The increasing popularity of different cuisines allows manufacturers and vendors to establish their footprint in the global frozen basil leaves the market.
Some of the key players operating in the frozen basil leaves market are Alasko Food Inc, Bowlander Limited, Davis food Ingredient Ltd, FRUKTIA GmBH, Helsu Foods, SupHerb Farms, and Van Drunen Farms among others. Com. These companies are implementing various strategies to gain an advantage such as emphasizing product quality and prices and building a strong brand reputation and distribution network.
Companies operating in the frozen basil leaves market are focusing on organic growth strategies like product launches and product approvals. They have adopted various strategies such as mergers, acquisitions, advanced product development, and collaboration to gain a competitive edge in the market.
Starting a business in the frozen basil leaves market can be a rewarding opportunity for entrepreneurs with plant-based food Considering this start-up coming up with innovative product launches.
The future of the frozen basil leaves market is promising as the market is expected to continue growing in the coming years. Rising disposable income and standard of living leading to an increase in consumer spending on food products is a major factor that is creating a lucrative opportunity for the frozen basil leaves market.
| Data Point | Key statistics |
|---|---|
| Expected Market value in 2023 | US$ 7.6 Billion |
| Projected Market Value in 2033 | US$ 11.8 Billion |
| Growth Rate (2023 to 2033) | CAGR of 4.5% |
Frozen basil leaves are often used in salad preparations and works best with soups and stews. These basil leaves are frozen for easy transportation and storage purposes. The product’s long shelf life and use in different kinds of food dishes is creating a growing demand, thereby fuelling the market’s growth.
In general, it is quite easy to freeze the basil leaves at home or even grow them in the backyard; an easy thing to do for consumers with a sedentary lifestyle. The frozen basil leaves were introduced in the market for urban consumers with a fast paced lifestyle.
The demand for frozen basil leaves is quite good owing to trends of healthy eating, going vegan, salad trends, and more inclusion of veggies in children’s diet.
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Launching of new product segment for business expansion is a basic norm in the food industry wherein the manufacturer tries to capture the consumers’ attention through various product offerings. It is quite obvious that superfoods along with plant based dietary patterns is going to be a common place.
Owing to the growing popularity and widespread acceptance of plant based foods in the near future, developments in flavours, ingredients, and textures of frozen basil leaves would be carried out to enhance the taste and nutrition content. Food delivery businesses in India such as Dunzo and Big Basket have been experiencing demand for fruits, vegetables, and other plant based products.
Retail giants like Walmart, Kroger, Tesco, etc. are experiencing shortage of workforce owing to the rising demand of food products by the consumers. Online grocers such as Amazon Fresh, Honestbee, Grofers, etc. are facing similar situation amidst the corona virus outbreak.
Owing to the fear of food shortage, people have started hoarding foods that have a longer shelf-life, rich in nutrition, and are safe for consumption. Corona virus pose a serious threat to people with pre-existing health conditions like coronary heart disease, obesity, and diabetes, to which basil leaves are the best choice of dietary foods.
Hence, the plant based concept and the novel corona virus would indirectly play an important role in propelling the market’s growth.
Some of the key players manufacturing frozen basil leaves are as follows -
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The North American and European regions are bound to show growing demands for frozen basil leaves due to their large scale applications in salads, pasta, pizza, and other dishes. The MEA and South Asian regions are expected to follow suit since basil is a part of the Mediterranean and South Asian Cuisine and is also cultivated in these regions in vast quantities.
The regions of Latin America and Oceania are also expected to show growing interests due to their close affinity towards vegetable purees and pestos made from basil leaves. Manufacturers should implement innovative packaging strategies to bring down the cost of product handling.
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The Frozen basil leaves market report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases).
The report also features a complete qualitative and quantitative assessment by analysing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the frozen basil leaves market report projects the attractiveness of each major segment over the forecast period.
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Frozen Basil Leaves Market
