The region is also expected to witness high growth rate in the bay leaf market during the forecast period

 

Bay leaf is a fragrant dried leaf of bay tree, significantly developed in the Mediterranean locale. Bay leaf tracks down its significant application as culinary spice for flavor in food arrangement. Aside from cooking, it additionally has therapeutic advantages and used to control glucose level, kidney stones, craving energizer, and others. Bay leaf has high substance of lauric corrosive, which is utilized to create creepy crawly repellant.

Bay leaves have been in existence for centuries. Bay leaf tea is made from the fresh leaves of the Bay leaf (Rubia tinctorum). Bay leaf is aromatic, fragrant, flavorful, and medicinal leaves of a common sweet bay leaf tree widely known as laurel leaf that is an evergreen shrub, belongs to the lauraceae or family of plants which are known for having re-growth capabilities.Bay leaf tracks down its significant application in food and refreshments industry for the flavoring of prepared and cooked food sources inferable from its extraordinary character and medical advantages. It is likewise utilized in refreshments to improve taste and healthy benefit. Developing interest for prepared food and drinks inferable from expanding populace and changing way of life is relied upon to push interest for bay leaf market during the estimated period. For example, as indicated by Institute for Plant and Food Research, New Zealand, worldwide food and refreshments industry was fixed at US$ 5.8 trillion of every 2016, and expected to arrive at US$ 20 trillion by 2030, with 5% yearly development.

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 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.