Frankincense Extract Market Top Manufacturers Analysis - Albert Vieille, HERBO NUTRA, AMARNATH EXPORTS, Avi Naturals

The frankincense extract market is segmented based on form, end use, and region. Based on form, the market is classified into powder, oil, and resin. Based on end use, it is categorized into food & beverage, cosmetics & personal care, aromatherapy, pharmacological, insecticide, and others. Based on region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.

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Frankincense, also known as olibanum is produced from the resin of the Boswellia tree, which typically grows in the mountainous regions of India, Africa, and the Middle East. It has a woody, spicy smell that can be inhaled, absorbed through the skin, soaked into a tea or consumed as a supplement. Traditionally, frankincense was used as a medicine to aid health issues such as arthritis and asthma. There is an increase in the applications of frankincense extracts in pharmaceuticals owing to its anti-inflammatory, antibacterial, and antifungal properties.

Frankincense essential oil obtained from its extracts is used in aromatherapy to alleviate stress and relieve pain. Busy and hectic lifestyle of the urban populace along with the increase in disposable income leads to rise in demand for aromatherapy, which ultimately boosts the growth of the frankincense extract market. Consumers today have an increased preference toward cosmetics and personal care products made with natural and organic ingredients. There is increase in the demand for frankincense powder as an ingredient in soaps, shampoo, lotions, and other similar products. However, changes in climate and over-tapping of trees to meet increased demand result in the decline of boswellia trees. This is anticipated to restrain the growth of the frankincense extract market.

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On the contrary, with the preference of consumers inclined toward natural ingredients in the food & beverage products due to increase in health consciousness and rate of health-related problems. The application of frankincense extracts such as an emulsifying agent, stabilizer, and flavor in the food & beverage industry can thus be viewed as an opportunity by the manufacturers for growth and expansion of the market.

The major players in the market include Indian Spice Oil Industries, Aromaaz International, De Monchy Aromatics, Albert Vieille, HERBO NUTRA, AMARNATH EXPORTS, Avi Naturals, Ambe Ns Agro Product Pvt. Ltd., Scents of Earth LLC., and Edens Garden.

KEY BENEFITS FOR STAKEHOLDERS
The report provides an in-depth analysis of the current trends, drivers, and dynamics of the frankincense extract market to elucidate the prevailing opportunities and tap the investment pockets.
It offers qualitative trends as well as quantitative analysis of the global market to assist stakeholders to understand the market scenario.
In-depth analysis of the key segments demonstrates type of frankincense extract and its applications.
Competitive intelligence of the industry highlights the business practices followed by key players across geographies as well as the prevailing market opportunities.
Key market players are profiled to understand the competitive outlook of the market.

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