Published Date: 2019-06-19 | Pages: Ongoing | Tables: Ongoing | Report ID: 7262
Industry: Consumer Goods
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.
By Product Type
● Cosmetic Grade
● Pharmaceutical Grade
● Oral Care
● Skin Care
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.
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.
NOTE - The analysis, thoughts, views, facts, and opinions expressed in this report are of the respective research analysts. QYR Consulting does not necessarily endorse it or it is also not essentially formal views of QYR Consulting.
QYR Consulting uses its core strength to identify the trends that will shape the consumer goods industry in the coming decades. The launch of innumerable innovative products has dramatically changed lifestyles and outlook toward living. Relentless sales of a wide range of consumer goods have opened up growth avenues for several other industries such as electronics, clothing, and food and beverages amongst others. The reports listed below study how the changing economy, improving GDP, and rising purchasing power have created a fertile ground for growth of the consumer goods industry.
QYR Consulting deep dives into the changing patterns of the consumer goods industry that is spread over both developing and developed parts of the world. It estimates the market fluctuations and helps its readers to prepare for ever-changing consumer demands. The reports focus on giving the readers a thorough understanding of the competitive strategies of the companies to make meaningful business decisions.
Request for data as per your requirement
Get specifications suitable to your business
Receive an in-depth and unique understanding of the subject matter
Acquire insight into specific area of the industry