Global Boswellia Extract Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

Global Boswellia Extract Market Overview:

“The global Boswellia extract Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

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Boswellia extract is one of the herbal products which is available in a large amount, mostly nearby the forests of Central and Western India. There are many types of boswellia extract trees such as Boswellia Extract Sacra and Boswellia extract carteri, which grow in regions of Oman and North Africa.

Ordinarily, boswellia extract are mostly non-toxic and are mostly used in the pharmaceutical industries. Boswellia extract, which are also called as Shalaki extract, that are derived from the Boswellia extract tree and prepared into an exact sufficient powder and converted into a liquid.

These has the properties of anti-cancer and anti-inflammatory properties and it has the ability for managing inflammatory illnesses, reduce joint and arthritis pain and speed up healing from infections.

Global Boswellia Extract Market: Dynamics

Increasing number of population who are aware of natural health benefits of boswellia extract coupled with increasing the pharmaceutical industries and companies that are manufacturing many types of products from Boswellia extract is a major factors expected to drive the target market.

In addition, increasing usage of boswellia extract in many industries such as beverage, cosmetics, spa treatment, and food are some of the other factors expected to drive demand of the boswellia extract.

Furthermore, increasing number of health conscious consumers and pharmaceutical manufacturers is among the other factor expected to drive the growth of the target market. However, high costof the product is among a major factor restraining the growth of the target market.

One of the major trend observed in the global boswellia extract market are rising adoption of boswellia extract in several of the industries.

Global Boswellia Extract Market: Segment Analysis

Among the form segments, powder segment is dominating in the global market in terms of revenue share. Due to changing lifestyle and technological advancement for shelf life of product. This is the factor expected to drive the growth of form segment. Among the application, food & beverage is dominating in the global market in terms of revenue share. As there is higher demand for boswellia in food and beverage industries.

Global Boswellia Extract Market: Regional Analysis

Currently, North America market is accounted for the major share and is expected to drive growth over the forecast period as many of the consumers are becoming more health conscious and is resulting in incresaing demand for nutritious food in the US and Canada coupled with boswellia extract is widely used as a flavoring agent in a bakery product such as biscuits, pastries, cookies, and in this region. Asia Pacific market in expected to observed fastest growth in terms of revenue in the near future due to consumers are becoming more health conscious as they demand for nutritious food, are the factors which drive the growth of the target market in Asia Pacific region.

Global Boswellia Extract Market Segmentation:

Segmentation by form:

• Powder
• Liquid

 Segmentation by application:

• Pharmaceutical
• Food & Beverage
• Aromatherapy

 Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa