According to a new market report published by Lucintel, the future of the bay leaf market looks promising with opportunities in food and beverage, pharmaceutical, cosmetics and personal care, and nutraceutical. The global bay leaf market is expected to grow with a CAGR of 7% from 2020 to 2025. The major drivers for this market are increasing demand for consumption of herbs and spices is fuelling the demand for bay leaf, rising popularity of aromatherapy treatments among individuals, and high adoption of bay leaf from cosmetics and personal care product manufacturers.
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In this market, conventional bay leaf, and organic bay leaf are the major product types. Lucintel forecasts that organic bay leaf will remain the largest segment over the forecast period due to environmental concern and health of consumers, whereas organic bay leaf, globally has encouraged many farmers to adopt organic farming techniques.
Within this market, food and beverage, pharmaceutical, cosmetics and personal care, and nutraceutical are the major applications of bay leaf. Food and beverage will remain the largest segment by application type over the forecast period due to increased adaptation of herbs and spices on a daily basis is driving the bay leaf market.
Asia-Pacific is expected to witness the highest growth over the forecast period due to the rising awareness among consumers on its health benefits such as anti-microbial and anti-ulcerogenic properties.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global bay leaf market by product type, application, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Bay Leaf Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global bay leaf market by product type, distribution channel, application, and region as follows:
By Product Type [Value ($ Million) shipment analysis for 2014 – 2025]:
Concentional Bay Leaf
Organic Bay Leaf
By Distribution Channel [Value ($ Million) shipment analysis for 2014 – 2025]:
Hypermarket
Supermarket
Online
Convenience Stores
Others
By Application [Value ($ Million) shipment analysis for 2014 – 2025]:
Food & Beverages
Pharmaceutical
Cosmetics & Personal Care
Nutraceutical
By Region [Value ($ Million) shipment analysis for 2014 – 2025]:
United States
Canada
Mexico
Germany
United Kingdom
France
Italy
Spain
A more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.