India Basil Leaves Market Shipment Analysis
India Basil Leaves Market registered a growth of 7.83% in value shipments in 2022 as compared to 2021 and an increase of 9.81% CAGR in 2022 over a period of 2017. In Basil Leaves Market India is becoming less competitive as HHI index in 2022 was 930 while in 2017 it was 749. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on domestic production to meet its growing demand in Basil Leaves Market.
India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Basil Leaves Market in 2022 was 0.26 while in 2017 it was 0.21. Viet Nam, Indonesia, Afghanistan, Australia and Nepal were among the top players of the market in 2022, where Viet Nam acquired the largest market share of 21.91% with a shipment value of 25.18 million USD in 2022 Viet Nam also offered the product below the average market price thus having a competitive advantage over others In 2017 Australia had the largest market share of 12.13% with the shipment value of 7.37 million USD. The country was offering its product with an average price which is higher than the average market price offered in the country. Although Australia offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the India Basil Leaves Market in 2017.
