Report Description Table of Contents Introduction And Strategic Context The Global Basil Leaves Market is projected to expand at a CAGR of 6.5%, growing from USD 2.1 billion in 2024 to USD 3.1 billion by 2030, according to Strategic Market Research. While basil may seem like a simple culinary herb, its global supply chain and end-use applications have grown significantly more complex. What used to be a kitchen staple is now a cornerstone of diverse industries — from nutraceuticals and cosmetics to alternative medicine and flavoring agents in ready-to-eat (RTE) products. At a strategic level, the expansion of this market is closely tied to shifting consumer behavior. Clean-label trends, the growing appeal of plant-based supplements, and renewed interest in traditional healing practices have all converged to push basil from the pantry to the spotlight. Regions like North America and Europe are increasingly sourcing basil not just for cooking, but for capsules, teas, oils, and extracts. Meanwhile, major basil-growing economies — particularly in Asia and Africa — are scaling up production with hybrid seed varieties and controlled-environment farming. Demand is also being driven by large food and beverage players seeking organic and sustainable ingredients. Basil’s antibacterial and anti-inflammatory properties have made it a go-to addition in functional food formulations, skincare items, and even oral health products. And with global health consciousness rising, basil-based detox products, immunity boosters, and digestive aids are being aggressively marketed, especially in online wellness channels. On the supply side, advancements in agricultural biotechnology and greenhouse-based vertical farming are helping to ensure year-round basil harvests in both temperate and tropical regions. That said, climate resilience remains a key issue — basil is highly sensitive to water stress and pests, which places pressure on growers to adopt protective cultivation techniques. Strategically, stakeholders in this space are broad. OEMs for agricultural equipment and greenhouse systems, food and nutraceutical manufacturers, cosmetic brands, organic retail chains, and investors in sustainable agriculture all have active interests in how this market evolves. Market Segmentation And Forecast Scope The Global Basil Leaves Market cuts across multiple verticals — from conventional culinary uses to high-margin segments like herbal therapeutics and clean-label cosmetics. To make sense of this fast-evolving ecosystem, it's essential to look at the market through four key segmentation lenses: By Form, By Application, By Distribution Channel, and By Region. By Form Basil is no longer sold exclusively as fresh produce. It now appears in several processed forms, each catering to a different need: Fresh Leaves Still the dominant segment in volume, especially across foodservice and retail grocery. Preferred for direct consumption and recipe-based applications. Dried & Crushed Popular in packaged food manufacturing, sauces, and seasoning blends. Accounts for an estimated 32% of the market share in 2024 due to its longer shelf life and supply-chain flexibility. Basil Oil and Extracts Gaining rapid ground in nutraceuticals and aromatherapy. Extracts are also used in pharmaceutical formulations for their antimicrobial properties. Basil Powder Often found in supplement capsules, detox teas, and natural skincare. This format is especially favored in online wellness brands targeting millennials and health-conscious buyers. Among these, basil oil and extracts are the fastest-growing segment — driven by demand in clean beauty, therapeutic topicals, and dietary formulations. By Application The utility of basil is expanding beyond food prep. Here’s where it’s being applied: Food and Beverage Includes sauces, soups, snacks, herbal teas, and RTE meals. Dominates the market with broad adoption in both B2C and B2B culinary channels. Pharmaceuticals and Nutraceuticals Used for digestive health, stress relief, and inflammation management. Growing fast as Ayurveda and TCM (Traditional Chinese Medicine) see global revival. Cosmetics and Personal Care Incorporated in face cleansers, essential oils, and herbal creams. Especially common in paraben-free and natural ingredient product lines. Agricultural and Pet Products A niche but expanding area — basil is now added to animal wellness formulas and insect-repellent sprays. To be honest, food still commands the largest chunk, but nutraceuticals and cosmetics are emerging as the high-margin zones attracting formulation innovation and premium branding. By Distribution Channel Supermarkets and Hypermarkets The go-to channel for fresh and dried basil in most urban markets. Chains like Tesco, Kroger, and Carrefour stock both bulk and branded SKUs. Online Retail Surging post-pandemic. Direct-to-consumer brands are selling basil powders, teas, and oils globally via e-commerce. Specialty Stores and Organic Markets Important in premium and health-focused consumer segments, especially in North America and Europe. Foodservice and Industrial B2B Includes supply to restaurants, caterers, and processed food manufacturers. Bulk volumes, price-sensitive, but consistent in demand. Online retail is the most disruptive, offering customized basil blends, home-delivery packs, and wellness kits targeting specific conditions like anxiety or immunity. By Region North America High demand for basil in Italian and fusion cuisines. Nutraceutical uptake is also strong due to lifestyle-driven wellness trends. Europe Robust demand for both culinary and cosmetic use. Italy, Germany, and France lead imports of premium basil varieties. Asia Pacific Fastest-growing region. Basil is deeply embedded in traditional cuisines and herbal medicine. India and Thailand are both major producers and consumers. Latin America Emerging market. Brazil shows rising demand in natural health segments and organic culinary ingredients. Middle East & Africa (MEA) Still niche but expanding via modern trade. UAE and South Africa are early adopters of herbal products incorporating basil. Asia Pacific is leading in production, while Europe and North America are driving premium product consumption. Market Trends And Innovation Landscape What’s happening in the Global Basil Leaves Market isn’t just about volume — it’s about value, versatility, and innovation. Over the last few years, basil has evolved from a commodity herb into a key ingredient across wellness, flavor innovation, and plant-based alternatives. Let’s walk through the trends giving basil this new edge. Functionalization Is Redefining Basil’s Identity The biggest shift? Basil is no longer just a garnish — it’s a functional ingredient. From basil-infused adaptogenic teas to immune-support capsules, brands are putting the plant’s natural compounds to work. Compounds like eugenol, linalool, and flavonoids are being highlighted for their anti-inflammatory and antimicrobial effects, making basil attractive in gut health and skin wellness formulations. In fact, new product launches in North America and Europe often promote basil not as a flavor enhancer, but as a "natural bioactive for immunity, stress, and detox." That subtle rebranding is repositioning basil from kitchen shelf to supplement aisle. AI and Precision Agriculture Are Improving Basil Yields Smart farming is playing a real role in basil cultivation. Growers are adopting vertical farming, hydroponics, and IoT-based climate control to optimize basil output, especially in urban greenhouses. These techniques are crucial because basil is sensitive to both pests and seasonal variation. There’s also growing use of machine learning algorithms to monitor leaf quality, nutrient cycles, and water usage. These tools help producers deliver a consistent product with fewer chemical inputs — a big selling point for health-focused consumers and organic brands. One hydroponic farm in the Netherlands recently increased its basil yield by 18% by combining LED spectrum optimization with AI-based humidity control. Basil Is Getting Packaged for Modern Lifestyles Product formats are also shifting. Basil is showing up in: Gummy vitamins with tulsi -basil blends for calming effects Cold-pressed basil juice shots sold in health cafes Roll-on essential oils for travel or anxiety relief Freeze-dried basil packs for meal kits and camping foods These formats match how younger consumers live — on-the-go, digitally influenced, and health-conscious. It’s not about “just cooking” anymore — it’s about integrating basil into everyday routines without friction. Clean Beauty Is Driving Basil’s Role in Skincare Skincare is where some of the most interesting R&D is happening. Brands are formulating anti-acne face masks, herbal cleansers, and toners with basil oil due to its ability to balance sebum and fight bacteria. Basil-based actives are increasingly featured in minimalist skincare routines for oily and combination skin types. Some cosmetic startups are also experimenting with basil stem cell extracts, looking to harness antioxidant benefits without overharvesting. Ethical Sourcing and Traceability Are Becoming Standard Sustainability is a growing concern, especially in the export markets. Basil buyers — especially in Europe — are pushing for full traceability, pesticide-free certification, and fair trade practices. This is prompting exporters in India, Vietnam, and Kenya to digitize their supply chains using blockchain and QR-based tracking. Retailers are responding too. Private labels are offering “single-origin basil” with region-specific branding — much like what’s happened in coffee or wine. This may lead to new premium categories for basil in global supermarkets. Collaborations Are Fueling Innovation We're seeing more partnerships between: Agri-tech startups and herb growers Cosmetic brands and organic cooperatives Supplement companies and ayurvedic farms These collaborations aren’t just about sourcing. They’re about co-developing basil-based solutions for sleep, digestion, skincare, or even pet health. Competitive Intelligence And Benchmarking Competition in the Global Basil Leaves Market is layered. At the base are thousands of smallholders and cooperatives growing basil for culinary use. But above that? A fast-growing group of players competing to commercialize basil in wellness, food tech, and beauty — all with very different strategies. Let’s break it down. McCormick & Company One of the most established names in global herbs and spices, McCormick continues to lead in volume and distribution. The company supplies dried basil through its own retail lines and to industrial food manufacturers under private label agreements. Its edge lies in scale, supply chain integration, and long-term supplier partnerships across India, Egypt, and the U.S. That said, McCormick is now facing margin pressure as niche brands offer higher-priced, organic basil products. The company’s recent push into clean-label and organic SKUs shows it’s pivoting toward premiumization, not just volume. Frontier Co-op A major force in the organic and wellness segment, Frontier Co-op specializes in ethically sourced dried basil, extracts, and essential oils. Its products are widely used in health food stores and by natural cosmetics manufacturers. The company’s transparent sourcing model and co-op ownership structure are big differentiators in markets like Europe and North America. Frontier is actively expanding its SKUs to include basil-based detox blends, targeting consumers moving away from synthetic supplements. Holy Basil Farms (India) This India-based exporter has gained traction as a white-label supplier of organic basil powder and tulsi -basil infusions. Known for cultivating multiple basil varieties — including Genovese, Thai, and Krishna tulsi — Holy Basil Farms supplies to herbal brands in Southeast Asia, the Middle East, and increasingly, North America. Their edge? Hybrid seed R&D and greenhouse cultivation techniques that allow consistent production even during monsoons — something most competitors in the region struggle with. Gaia Herbs Gaia Herbs has positioned basil as a medicinal herb rather than a culinary one. It features basil extracts and tulsi blends in its stress-relief and immune-support capsules — sold through both retail and practitioner channels in the U.S. and Europe. While not a mass-volume player, Gaia sets the tone in the premium herbal supplement category, where clinical data, certification, and storytelling drive consumer trust. Young Living Essential Oils A leader in aromatherapy, Young Living produces basil essential oils for use in personal care and wellness rituals. They control their entire supply chain — from cultivation to distillation — under their “Seed to Seal” quality standard. This vertical model gives them pricing power and brand credibility, especially among wellness influencers and lifestyle customers who prioritize purity and traceability. Emerging Entrants and DTC Startups Direct-to-consumer (DTC) startups are bringing fresh energy. In the U.S., brands like Anima Mundi Herbals and Apothekary are blending basil with mushrooms, adaptogens, and nootropics. These brands aren't competing on cost — they’re selling mood support, liver detox, or stress relief in beautifully branded jars or sachets. One startup even sells basil extract labeled as "clarity drops" for digital detox routines — a product impossible to imagine five years ago. Regional Landscape And Adoption Outlook The Global Basil Leaves Market is shaped by a mix of local culinary traditions, herbal medicine usage, farming practices, and regulatory frameworks. While basil grows in both tropical and temperate climates, how it's used — and valued — varies significantly by region. Some areas focus on volume farming, others on premium product development. Let’s walk through the key regional dynamics. North America North America remains one of the largest consumer markets — not just for food-grade basil, but for functional formats like teas, capsules, and oils. The U.S. drives most of this demand, with basil used widely in Italian-American cuisine, health supplements, and clean-label foods. What’s changing? Rising demand for non-culinary basil products. From basil-infused kombucha to stress-relief capsules, brands are marketing it as part of a broader shift to herbal wellness. Supermarkets are also expanding shelf space for organic, air-dried, or freeze-dried basil in specialty aisles. On the supply side, controlled-environment agriculture is gaining momentum. Indoor basil farms are popping up in urban zones like New York and Toronto, with vertical farming companies touting pesticide-free, locally grown basil with zero transport emissions. Europe Europe is equally diverse but more advanced in terms of organic standards and traceability. Italy remains both a top consumer and exporter of premium basil, especially Genovese. It's central to pesto, sauces, and artisanal food products exported across the EU. What sets Europe apart is regulatory pressure. Retailers and manufacturers face strict limits on pesticide residues, and there's growing enforcement around labeling (e.g., country of origin, organic certification). Germany and France are also notable for their growing use of basil in natural skincare and aromatherapy, particularly within pharmacy-led wellness retail channels. Some European retailers now feature “single-origin basil” in the same way they highlight coffee or olive oil — signaling a move toward hyper-curated herb sourcing. Asia Pacific Asia Pacific is the world’s leading producer of basil, with countries like India, Thailand, Vietnam, and China playing central roles. Basil varieties like Thai basil, lemon basil, and tulsi are deeply embedded in local medicine and cuisine. India stands out for its dual use — culinary and spiritual. Tulsi (Holy Basil) is widely cultivated for Ayurvedic formulations, exported in large volumes as powder, extracts, and essential oils. In Thailand and Vietnam, basil is more culinary-focused, essential in dishes like ph? and stir-fries. However, farmers here are now expanding into export-friendly varieties to meet demand from Western wellness brands. This region is also a hotbed of innovation in agro -export cooperatives, where smallholder farmers are being trained in organic methods and supplied with access to post-harvest drying or distillation units. It’s not just about growing more basil — it’s about exporting higher-value formats. Latin America Still an emerging player, Latin America’s basil cultivation is expanding fast — especially in Brazil, Mexico, and Peru. Brazil shows rising interest in herbal teas, plant-based supplements, and natural beauty products incorporating basil oil. That said, infrastructure and certification remain challenges. Inconsistent drying methods and low-tech extraction processes can affect basil quality and shelf life. However, international demand is prompting governments and NGOs to invest in organic certification training and export-grade processing centers. With the right investment, this region could become a key exporter of specialty basil products within five years. Middle East and Africa (MEA) In MEA, basil is mainly used in culinary formats — from fresh sprigs in Persian dishes to dry seasoning in Moroccan and Egyptian blends. Industrial processing is limited, but not absent. South Africa and Kenya are seeing some movement toward essential oil distillation for export, particularly into European natural product markets. Meanwhile, the UAE is becoming a premium import hub, especially for high-quality dried basil and herbal infusions. Water scarcity and harsh climate conditions limit outdoor basil farming in many areas. This has led to early experimentation with desert hydroponics — where basil, surprisingly, is one of the test crops due to its relatively short cycle and high export value. End-User Dynamics And Use Case In the Global Basil Leaves Market, end users aren’t a monolith. Each stakeholder — from culinary giants to indie wellness brands — is buying basil for very different reasons, in very different formats, and with different expectations. Understanding these buyer dynamics is key to tracking where the value is shifting. Food and Beverage Manufacturers This is still the largest end-user category by volume. Pasta sauce companies, seasoning brands, frozen meal producers, and snack formulators all depend on a steady stream of dried or crushed basil. However, even in food, the game is evolving. Multinational food firms are now looking for: Certified organic or non-GMO basil Country-specific flavor profiles (e.g., Thai basil for Southeast Asian noodles, Italian Genovese for sauces) Clean-label compliance — especially in European and North American markets Some companies are even experimenting with basil-infused beverages, launching everything from green teas to sparkling adaptogen drinks. This shift is pulling basil deeper into the functional beverage sector, where demand is growing faster than traditional food applications. Pharmaceutical and Nutraceutical Brands This segment values basil not for flavor, but for bioactivity. The main formats here are: Basil extracts and oils (used in digestive aids, immunity boosters, and sleep support) Tulsi powder capsules (positioned under stress relief and respiratory health) Essential oils used in both aromatherapy and over-the-counter topical formulations What’s critical to these users? Purity, bioactive compound consistency, and validated sourcing. These companies often require suppliers to provide GC-MS (Gas Chromatography–Mass Spectrometry) test reports and full traceability on growing practices. Cosmetic and Personal Care Manufacturers For skin and wellness-focused brands, basil offers a compelling blend of antibacterial, antioxidant, and anti-inflammatory properties. End users in this segment are purchasing basil in: Essential oil format for facial serums and roll-ons Leaf extracts for face masks and scalp treatments Basil hydrosols (aromatic waters) used in toners and body sprays Smaller natural beauty brands often source from cooperatives or farms with sustainable and cruelty-free certifications, while larger CPG companies work with contract extractors to scale up their ingredient pipelines. Retail Chains and Private Labelers Supermarkets, natural food stores, and organic marketplaces are end users too — specifically when it comes to branded or private-label basil SKUs. These range from: Jarred dried basil and mixed herb blends Basil- flavored olive oils or dressings Basil powder sold under detox or culinary prep labels In this channel, packaging, shelf life, and brand story matter as much as the product itself. Retailers now prefer suppliers that can offer design-ready SKUs or co-branding options for online and offline distribution. Specialty and Direct-to-Consumer Brands Here’s where the innovation is bubbling. Small DTC brands are buying high-grade basil for: Functional herbal blends marketed as "mind-calming" or "detoxifying" Cold-pressed basil wellness shots or drink boosters Subscription boxes featuring herbal adaptogens and mood-focused supplements These players value flexibility and uniqueness. They often work in smaller volumes but demand exotic varieties (like lemon basil or cinnamon basil), ethical farming practices, and visually appealing forms like freeze-dried whole leaves or artisanal powders. Real-World Use Case A wellness startup in California noticed that a growing portion of its customer base — mostly women aged 25–40 — was buying herbal adaptogens for stress and digestion. Instead of focusing on the crowded ashwagandha market, the brand formulated a basil-ginger-turmeric elixir, sold as a refrigerated wellness shot. Initially sourcing conventional tulsi powder, they shifted to CO2-extracted basil oil to boost consistency and shelf life. Partnering with a small farm collective in India, they co-developed a traceable supply chain. Within nine months, the elixir became their second-best-selling SKU. Recent Developments + Opportunities & Restraints The last two years have seen the Global Basil Leaves Market undergo a significant shift — not just in product innovation, but in supply chain design, regional partnerships, and sustainability efforts. As consumer expectations rise around traceability and function-first botanicals, producers and brands are moving fast to redefine what basil can offer beyond taste. Recent Developments (Last 2 Years) A leading European beauty company launched a basil-infused facial mist line using steam-distilled basil water from Italian farms, targeting the anti-pollution skincare segment. A U.S.-based nutraceutical brand introduced a new capsule combining basil extract with magnesium and B-complex for stress relief, sold primarily through DTC channels. An agri -tech firm in the Middle East deployed AI-based hydroponic units to grow high-yield basil under desert climate conditions, achieving 25% more efficiency compared to soil-based farming. Organic basil exporters in Vietnam began offering blockchain-enabled QR codes for traceability, allowing buyers to track each batch back to its farm and harvest date. A specialty beverage brand launched sparkling waters infused with basil and elderflower, marketing them as natural mood boosters and selling through boutique wellness retailers. Opportunities Functional Food Crossover: There's untapped potential in positioning basil as a crossover ingredient in functional snacks, meal replacements, and beverages. The demand for culinary herbs with health benefits is growing among urban consumers. Premium Skincare and Scalp Care: Basil oil and extracts are being adopted in high-end formulations targeting oily skin, acne-prone profiles, and anti-dandruff products — a trend that’s only gaining traction. Export-Led Growth from Emerging Markets: Countries like Kenya, Sri Lanka, and Peru are expanding basil production, and with minimal investment in post-harvest tech, they could become key players in the global organic basil supply chain. Restraints Quality and Consistency Challenges: Variability in flavor profile, oil content, and microbial load across batches makes it difficult for industrial buyers to scale basil-based formulations without strict QA controls. Labor and Climate Pressures on Growers: Basil is labor-intensive and climate-sensitive. Rising temperatures, unpredictable rain cycles, and workforce shortages are all putting strain on growers, particularly in tropical regions. 7.1. Report Coverage Table Report Attribute Details Forecast Period 2024 – 2030 Market Size Value in 2024 USD 2.1 Billion Revenue Forecast in 2030 USD 3.1 Billion Overall Growth Rate CAGR of 6.5% (2024 – 2030) Base Year for Estimation 2024 Historical Data 2019 – 2023 Unit USD Million, CAGR (2024 – 2030) Segmentation By Form, Application, Distribution Channel, Geography By Form Fresh Leaves, Dried & Crushed, Basil Oil & Extracts, Basil Powder By Application Food & Beverage, Pharmaceuticals & Nutraceuticals, Cosmetics & Personal Care, Agricultural & Pet Products By Distribution Channel Supermarkets & Hypermarkets, Online Retail, Specialty Stores, Foodservice & Industrial B2B By Region North America, Europe, Asia-Pacific, Latin America, Middle East & Africa Country Scope U.S., Canada, Germany, UK, France, Italy, India, China, Thailand, Vietnam, Brazil, UAE, South Africa, etc. Market Drivers - Rising demand for functional herbal ingredients - Clean-label and organic product expansion - Growth in ayurvedic and natural wellness categories Customization Option Available upon request Frequently Asked Question About This Report Q1: How big is the basil leaves market? A1: The global basil leaves market is valued at USD 2.1 billion in 2024 and is projected to reach USD 3.1 billion by 2030. Q2: What is the CAGR for the basil leaves market during the forecast period? A2: The market is growing at a CAGR of 6.5% from 2024 to 2030. Q3: Who are the key players in the global basil leaves market? A3: Leading companies include McCormick & Company, Frontier Co-op, Gaia Herbs, Holy Basil Farms, Young Living, and several emerging DTC brands. Q4: Which region dominates the basil leaves market? A4: Asia Pacific leads in production, while North America and Europe dominate consumption and product innovation. Q5: What factors are driving the growth of the basil leaves market? A5: Growth is driven by rising demand for functional herbal products, expansion of clean-label and organic foods, and growing use of basil in cosmetics and nutraceuticals. Executive Summary Market Overview Market Attractiveness by Form, Application, Distribution Channel, and Region Strategic Insights from Key Executives (CXO Perspective) Historical Market Size and Future Projections (2019–2030) Summary of Market Segmentation by Form, Application, Distribution Channel, and Region Market Share Analysis Leading Players by Revenue and Market Share Market Share Analysis by Form, Application, and Distribution Channel Investment Opportunities in the Basil Leaves Market Key Developments and Innovations Mergers, Acquisitions, and Strategic Partnerships High-Growth Segments for Investment Market Introduction Definition and Scope of the Study Market Structure and Key Findings Overview of Top Investment Pockets Research Methodology Research Process Overview Primary and Secondary Research Approaches Market Size Estimation and Forecasting Techniques Market Dynamics Key Market Drivers Challenges and Restraints Impacting Growth Emerging Opportunities for Stakeholders Impact of Behavioral and Regulatory Factors Technological Advances in Basil Farming and Processing Global Basil Leaves Market Analysis Market Size and Volume Forecasts (2024–2030) Market Analysis by Form Fresh Leaves Dried & Crushed Basil Oil & Extracts Basil Powder Market Analysis by Application Food & Beverage Pharmaceuticals & Nutraceuticals Cosmetics & Personal Care Agricultural & Pet Products Market Analysis by Distribution Channel Supermarkets & Hypermarkets Online Retail Specialty Stores & Organic Markets Foodservice & Industrial B2B Market Analysis by Region North America Europe Asia-Pacific Latin America Middle East & Africa Regional Market Analysis North America Basil Leaves Market Market Size and Volume Forecasts (2024–2030) Market Analysis by Form, Application, and Distribution Channel Country-Level Breakdown: United States, Canada Europe Basil Leaves Market Market Size and Volume Forecasts (2024–2030) Market Analysis by Form, Application, and Distribution Channel Country-Level Breakdown: Germany, United Kingdom, France, Italy, Spain, Rest of Europe Asia-Pacific Basil Leaves Market Market Size and Volume Forecasts (2024–2030) Market Analysis by Form, Application, and Distribution Channel Country-Level Breakdown: India, China, Vietnam, Thailand, Japan, Rest of Asia-Pacific Latin America Basil Leaves Market Market Size and Volume Forecasts (2024–2030) Market Analysis by Form, Application, and Distribution Channel Country-Level Breakdown: Brazil, Mexico, Rest of Latin America Middle East & Africa Basil Leaves Market Market Size and Volume Forecasts (2024–2030) Market Analysis by Form, Application, and Distribution Channel Country-Level Breakdown: UAE, South Africa, Rest of MEA Key Players and Competitive Analysis McCormick & Company Frontier Co-op Gaia Herbs Holy Basil Farms Young Living Essential Oils Emerging Direct-to-Consumer (DTC) Startups Appendix Abbreviations and Terminologies Used in the Report References and Sources List of Tables Market Size by Form, Application, Distribution Channel, and Region (2024–2030) Regional Market Breakdown by Segment Type (2024–2030) List of Figures Market Drivers, Challenges, and Opportunities Regional Market Snapshot Competitive Landscape by Market Share Growth Strategies Adopted by Key Players Market Share by Form and Application (2024 vs. 2030)