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.

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 4.45%.

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 Developments:-

  • In June 2018, Naturevibe Botanicals entered in Indian market with launch of herbal powders. The company will eventually launch 30-40 products which will include spices and herbal tea. The company also plans to expand its presence in Australia and Europe.
  • In June 2019, Feragaia launched its non-alcoholic spirit in U.K. market. The spirit contains 14 botanicals including bay leaf, seaweed, and chamomile and is hand-blended.
  • In 2016, bay leaf became the first medicinal plant from state of Uttarakhand, India which got registered at geographical indicator registry office (Chennai, India). The bay leaf of Uttarakhand is known as sweet Tej Patta and is used for making ayurvedic formulations. The geographical indicator registration will help in increasing demand for bay leaf.

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.

Market Taxonomy:-

On the basis of form, the global bay leaf market is segmented into:

  • Whole leaf
  • Powder
  • Oil

On the basis of type, the global bay leaf market is segmented into:

  • California Bay Leaf
  • Mexican Bay Leaf
  • Indonesian Laurel
  • Indian Bay Leaf
  • Bay Laurel
  • Indonesian Bay Leaf
  • West Indian Bay Leaf

On the basis of application, the global bay leaf market is segmented into

  • Food & Beverages
  • Pharmaceutical
  • Cosmetics & Personal Care
  • Nutraceutical

On the basis of distribution channel, the global bay leaf market is segmented into:

  • Hypermarket
  • Supermarket
  • Online
  • Convenience stores
  • Others

On the basis of region, the global bay leaf market is segmented into:

  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Russia
    • Rest of Europe
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users