Frankincense Extract Market Report

Frankincense is extracted from genus Boswellia trees and is belonging to the family of Burseraceae- a flowering plant. It is also known as olibanum and is widely used to make incense and perfumes. Native to Oman, Northen Somalia, Ethiopia, and South Yemen, Frankincense produces resins.  As Frankincense extract is mainly produced in Somalia and Ethiopia, the growth of Frankincense extract market is witnessed mainly in Africa region. Frankincense extract does not only nourishes your skin but has also medical properties. For example, it is used to treat several inflammatory diseases such as bowel diseases, asthma, and other allergies. Frankincense is an effective treatment for arthritis.  

In the Middle East region, Frankincense trees have greater importance. The people in Egypt, in particular, use the leaves of the Frankincense tree for religious purpose and to make cosmetics. At present, it has been revealed through various studies and research that the oil extracted from Frankincense has properties that assist in relieving skin conditions.

Rising Incidents of Skin-Related Issues to Boost the Global Frankincense Extract Market

It has been witnessed that the adoption of frankincense extract has increased in several end-use industries such as cosmetics and pharmaceuticals since past few years. This particular factor is creating robust growth in the global Frankincense extract market. Apart from this, growing awareness about several health benefits associated with Frankincense extract such as antibacterial, anti-inflammatory, antifungal, antioxidant and cytophylactic is expected to boost the growth of global Frankincense extract market.  

Rising prevalence of various skin-related diseases such as dermatitis and skin break out are impelling the development of Frankincense extract market.  However, Frankincense is likely to cause gastrointestinal trouble i.e. hyperacidity, stomach torment, and queasiness. These factors are likely to hamper the growth of the global Frankincense extract market in the years to come.

Market Segmentation

By Product Type

●   Cosmetic Grade

●   Pharmaceutical Grade

●   Others

By Application

●   Aromatherapy

●   Oral Care

●   Perfumes

●   Skin Care

●   Medicine

●   Others

Pharmaceutical Grade segment is expected to grow at remarkable growth rate. Due to an increasing usage of cosmetics particularly amongst youngsters cosmetic grade segments is likely to grab is significant market share during the projected years.  

By Region

Regional Overview

Europe region is expected to grab a major share of the Frankincense market in terms of revenue and is likely to dominate the market in the years to come. The primary reasons for this growth are high demand for an aromatherapy treatment and greater adoption of Frankincense extracts in Germany, Italy, UK, and France. Asia Pacific market for Frankincense extract is expected to see rapid growth, because of the rising status of fragrance and toiletry industry in emerging economies such as China and India.

Top Players in the Market

Phyto Life Sciences P. Ltd., De Monchy Aromatics Limited, Prime Natural Beauty, AOS Products Private Limited, Edens Garden Inc., and TriVita, Inc. are some of the key players that are operating in the global Frankincense extract market. 

Key Features of this Report

This exclusive report offers an in-depth and comprehensive analysis of global Frankincense extract market and delivers CAGR and market size for the projected year. The base year has taken into consideration while analyzing the market. The report illuminates potential opportunities of revenues in various segments covered in this report and also elucidates investment proposition matric for the global Frankincense extracts market.  

Key market dynamics that include restraints, drivers, opportunities, trends, the launch of new products, regional overview and key players and their strategies are some of the important aspects of this report.

This report has profiled top players operating in the global Frankincense extract market based on future plans, company overview, key strategies & developments, financial performance, distribution strategies, product portfolio, and top players’ geographical presence.

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