Global Frankincense Extracts Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast: 2019–2028
“Global Frankincense Extracts Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global frankincense extracts market report has been segmented as per product type, application, and region.
Global Frankincense Extracts Market: Overview
Frankincense is known as olibanum and is obtained from genus Boswellia trees. It is an aromatic resin and mostly used in incense and perfumes. Frankincense extracts are mainly used in various cosmetics products to remove several skin problems. In addition, frankincense extracts also used to enhance the effects of supplements and herbs and it is very good for digestion and healthy skin. It is widely used in the pharmaceutical sector, due to medicinal properties of frankincense extracts. The frankincense extracts also used in aromatherapy services to relieve anxiety and stress.
Global Frankincense Extracts Market: Dynamics
Increasing adoption of frankincense extracts in several applications among the pharmaceutical and cosmetic industries across the globe is a key factor expected to boost growth of the global market. In addition, raising awareness about various health beneficial properties associated with it such as anti-inflammatory, antioxidant, cytophylactic, antifungal, antibacterial, and others among individuals resulting in growing demand for frankincense extracts across the globe. This is another factor projected to support growth of the target market during the forecast period.
The growing popularity of frankincense extracts among individuals due to raising awareness about its medicinal properties and it is used to treat chronic inflammatory disorder including allergies, asthma, rheumatoid, and others and rising demand for various aromatherapy services across the globe. These are major factors anticipated to drive growth of the global frankincense extracts market. In addition, rising various skin-related issues such as eczema, acne, skin break out, dermatitis, and others among individuals result in increasing adoption of frankincense extracts across the globe is another factor projected to propel growth of the target market over the forecast period.
Furthermore, increasing penetration of skin care products mainly based on frankincense extracts on an e-commerce platform and rising advancement in frankincense extraction process by major frankincense extracts manufactures are some other factors projected to proliferate growth of the global market in the next 10 years. However, frankincense has some side effects including queasiness, hyperacidity, stomach torment, and other is major factor projected to hamper growth of the global market.
Global Frankincense Extracts Market: Segment Analysis
The rapid adoption of frankincense extracts in various medicinal applications of the pharmaceutical sector due to its medicinal properties such as astringent, antioxidant, disinfectant, cytophylactic, and others is the primary factor driving revenue growth of the pharmaceutical grade segment among the product type segments.
Among the application, the skin care segment is anticipated to register significant share in terms of revenue in the global frankincense extracts market, owing to rising adoption of frankincense extracts to eliminate several skin issues and increasing beauty consciousness among individuals.
Global Frankincense Extracts Market: Region Analysis
The Europe frankincense extracts market hold a major share in terms of revenue and is projected to dominate the target market over the forecast period. High adoption of frankincense extracts and high demand for aromatherapy treatments in countries such as Italy, France, UK, and Germany in this region. The market in the Asia Pacific is anticipated to witness the fastest growth in the global market, owing to expanding toiletry and fragrance industry and healthcare sector in various developing countries such as India and China.
Global Frankincense Extracts Market Segmentation:
Segmentation by Product Type:
- Cosmetic Grade
- Pharmaceutical Grade
Segmentation by Application:
- Oral Care
- Skin Care
- Perfumes and Incense
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Ø TriVita, Inc.
- Ø De Monchy Aromatics Limited
- Ø The Lebermuth Co., Inc.
- Ø Aromatherapy Associates Limited
- Ø Phyto Life Sciences P. Ltd.
- Ø Edens Garden Inc.
- Ø doTERRA International, LLC
- Ø Nature's Sunshine Products, Inc.
- Ø Majestic Pure
- Ø Fabulous Frannie
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