Press release
Boswellia Market Is Set To Rise At 5.1% CAGR And Account For Us$ 156.47 Million By 2032
The Boswellia market is experiencing steady growth, driven by its increasing recognition for health and wellness benefits. Boswellia, commonly known as frankincense, is derived from the resin of Boswellia trees and has been traditionally used in Ayurvedic and traditional Chinese medicine. It is known for its anti-inflammatory, anti-arthritic, and analgesic properties, making it popular in the pharmaceutical, nutraceutical, and cosmetic industries. The market includes various forms such as extracts, powders, and essential oils, which are incorporated into dietary supplements, herbal remedies, and skincare products.
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Boswellia Market Trend Analysis
Market Driver:
A significant driver of the Boswellia market is the growing consumer demand for natural and plant-based health supplements. As people become more health-conscious and seek alternatives to synthetic pharmaceuticals, there is a rising preference for natural products that offer therapeutic benefits without adverse side effects. Boswellia, with its well-documented anti-inflammatory properties, is particularly sought after for managing conditions such as arthritis, asthma, and inflammatory bowel disease. The increasing prevalence of these chronic conditions fuels the demand for Boswellia-based products, driving market growth.
Market Opportunity:
An emerging opportunity in the Boswellia market lies in the development of innovative product formulations and applications. Companies can explore creating new delivery formats such as capsules, topical creams, and beverages that make Boswellia more convenient and appealing to a broader audience. Additionally, integrating Boswellia into functional foods and beverages can attract health-conscious consumers looking for added health benefits in their daily diet. By investing in research and development to substantiate health claims and enhance product efficacy, companies can differentiate themselves in the competitive market and expand their consumer base.
๐๐๐ญ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ ๐จ๐ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ:
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By Product Type
โข Resin
โข Essential Oil
โข Extract
By Source
โข Boswellia Papyrifera
โข Boswellia Sacra
โข Boswellia Serrata
โข Boswellia Cartetii
By Application
โข Food Supplements
โข Herbal Medicinal Products
โข Aromatherapy
โข Personal Care Products
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Key Players Covered In This Report:
Sabinsa Corporation (India),PLT Health Solutions (United States),Verdure Sciences (United States),Nutra Green Biotechnology Co., Ltd. (China),Arjuna Natural Pvt Ltd (India),Alchem International Pvt. Ltd. (India),Silvateam S.p.A. (Italy),AlchemLife (United Arab Emirates),Givaudan SA (Switzerland),Frutarom Industries Ltd. (Israel),NaturaNectar LLC (United States),Pure Encapsulations (United States),Himalaya Wellness Company (India),Arisun ChemPharm Co., Ltd. (China),Al-Hikma Pharmaceuticals (Jordan),Anhui Tianzheng Pharmaceuticals Co., Ltd. (China),PlantExtrakt GmbH & Co. KG (Germany),Hangzhou Gosun Biotech Co., Ltd. (China),Ganzhou Tian Rui Chemical Co., Ltd. (China),Nature's Way Products, LLC (United States),Afriplex (Pty) Ltd (South Africa),Ambe Phytoextracts Pvt Ltd (India),Shaanxi Honghao Bio-Tech Co., Ltd. (China),BOS Natural Flavors (India),Somali-Organic (Somalia),Yemen Company for Industry & Commerce (Yemen),Al-Bahar International (Oman) and Other Major Players.
Key Industry Developments in the Market:
โข In Jan 2024, Researchers find Boswellia, an extract of frankincense, shows anti-cancer activity in small trial, Researchers at MUSC Hollings Cancer Center provided breast cancer patients with an extract of the Boswellia tree-probably best known as the source of frankincense-and instructed them to take it each day until surgery
โข In Sep 2022, Amouage Announces Long-term Development of UNESCO Frankincense Site in Sultanate of Oman, Amouage has signed a historic partnership with Oman's Ministry of Heritage and Tourism for the development of Wadi Dawkah in the Southern Governate of Dhofar.
Regional Analysis of Boswellia Market:
โข North America (U.S., Canada, Mexico)
โข Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
โข Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
โข Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
โข Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
โข South America (Brazil, Argentina, Rest of SA)
Our Sample Report May Includes:
โข Market Dynamics
โข Competitive Analysis
โข Market Trends And Market Outlook
โข Market Share And Market Size
โข Opportunities And Customer Analysis
โข Product Pricing Research
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