Frankincense Essential Oil Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Frankincense commonly known as olibanum is a type of oleogum resin which is obtained from Boswellia Sacara tree. This tree is a native of Pakistan and India. The frankincense essential oil have spicy and woody aroma and is mainly used for connectedness of spirit. This oil is very suitable for the maintenance of radiant skin. This oil is greatly used in the pharmaceutical industry.

MARKET DYNAMICS

The ability of frankincense essential oil to reduce joint paints, control blood pressure and promotion of healthy cell generation drives the market for frankincense essential oil. Besides this, the wide scale application of frankincense essential oil in the pharmaceutical industry also drives the market growth. However, extra cost associated with the export of frankincense essential oil restricts the fruitful development of the frankincense essential oil market. Rise in the preference of consumers for natural products from the food and cosmetics industry is expected to boost the market for frankincense essential oil in the near future.

MARKET SCOPE

The "Global Frankincense Essential Oil Market Analysis to 2031" is a specialized and in-depth study of the Food and Beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the frankincense essential oil market with detailed market segmentation by type, application, distribution channel and geography. The global frankincense essential oil market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading frankincense essential oil market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global frankincense essential oil market is segmented on the basis of nature, end user and distribution channel. On the basis of nature, the frankincense essential oil market is segmented into organic and conventional. The frankincense essential oil market as per end user is broken into cosmetics & personal care, pharmaceuticals industry, food industry, household and others. Finally, as per distribution channel the market is bifurcated into direct and indirect.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global frankincense essential oil market based on various segments. It also provides market size and forecast estimates from the year 2021to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The frankincense essential oil market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the frankincense essential oil market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the frankincense essential oil market in these regions.

MARKET PLAYERS

The reports cover key developments in the frankincense essential oil market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from frankincense essential oil market are anticipated to lucrative growth opportunities in the future with the rising demand for frankincense essential oil market in the global market. Below mentioned is the list of few companies engaged in the frankincense essential oil market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the frankincense essential oil. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   AOS Products Private Limited
  
•   Aromaaz International
  
•   Edens Garden Inc.
  
•   Katyani Exports
  
•   Lala Jagdish Prasad & Company
  
•   Nature's Sunshine Products Inc.
  
•   Now Foods
  
•   Plant Therapy Inc.
  
•   Syscom Consumer Products Pvt. Ltd.
  
•   Young Living Essential Oils LC
  
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Frankincense Essential Oil Report Scope