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Boswellia Market Will Generate Booming Growth Opportunities to 2031

07-17-2024 07:41 AM CET | Food & Beverage

Press release from: Transparency Market Research

Boswellia Market Will Generate Booming Growth Opportunities

The Boswellia market (보스웰리아 시장) has witnessed significant growth from 2023 to 2031. In 2022, the market size was valued at approximately US$ 99.6 Mn and it is expected to grow at a CAGR of 4.9% during the forecast period, reaching US$ 152.0 Mn by 2031. Factors driving this growth include the rising prevalence of chronic diseases, increased consumer inclination towards natural remedies, and expanding applications of Boswellia in various industries.

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Market Segmentation

By Service Type

Extraction Services
Formulation Services
Packaging and Distribution Services

By Sourcing Type

Organic
Conventional

By Application

Pharmaceuticals
Dietary Supplements
Cosmetics and Personal Care
Food and Beverages
Others

By Industry Vertical

Healthcare
Nutraceuticals
Cosmetics
Food and Beverage
Others

By Region

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Regional Analysis

North America: Leading region due to high consumer awareness and robust demand for natural health supplements.
Europe: Significant growth driven by stringent regulations promoting natural and organic products.
Asia Pacific: Rapid growth attributed to increasing health consciousness and traditional usage of herbal products.
Latin America and Middle East & Africa: Emerging markets with growing investments in herbal medicine and natural products.

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Market Drivers and Challenges

Drivers:

Growing awareness of the health benefits of Boswellia.
Rising prevalence of chronic diseases such as arthritis and inflammatory conditions.
Increased demand for natural and organic products.
Expansion of applications in pharmaceuticals, nutraceuticals, and cosmetics.

Challenges:

Limited availability of raw materials due to overharvesting and environmental concerns.
High cost of organic Boswellia products.
Regulatory challenges in different regions.

Market Trends

Increasing popularity of Boswellia-infused products in skincare and cosmetics.
Development of innovative extraction techniques to improve the yield and purity of Boswellia extracts.
Rising trend of dietary supplements incorporating Boswellia for joint health and anti-inflammatory benefits.
Growing preference for organic and sustainably sourced Boswellia.

Competitive Landscape

Key players in the Boswellia market are focusing on strategic partnerships, product innovations, and sustainability initiatives. Major companies include:

Sabinsa Corporation
Arjuna Natural Extracts Ltd.
Alchem International
PLT Health Solutions
Nutra Green Biotechnology Co., Ltd.
Xi'an Biof Bio-technology Co., Ltd.
These companies are investing in research and development to enhance product quality and expand their market presence.

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About Us:

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

Contact Us:

Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
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Suite 1200, Wilmington, Delaware 19801 USA
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