Press release
Frankincense Extracts Market Estimated to Flourish at by 2024 - 2031 | De Monchy Aromatics Limited, AOS Products Private Limited
Frankincense Extracts Market
Global frankincense extracts market was valued at US$ 302.14 Million in 2022, exhibiting a CAGR of 8.44% during the forecast period (2023 to 2030).
Market Dynamics:
The frankincense extracts market is expected to witness significant growth over the forecast period, 2024-2031. This is highly attributed to the growing demand for natural and herbal ingredients in cosmetic products. There is an increasing consumer preference for cosmetics containing herbal extracts over synthetic ingredients due to rising awareness about potential side effects of chemicals. Additionally, frankincense extracts find wide usage in skin care creams and lotions owing to anti-aging properties. The extract is known to reduce visible signs of aging such as wrinkles and age spots when applied topically. Furthermore, rising demand from aromatherapy industry is also contributing to market growth. Frankincense essential oil is commonly used for relaxation and reducing stress and anxiety.
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Growing Demand for Natural Essential Oils in Cosmetic and Personal Care Industry
The global cosmetic and personal care industry has experienced rapid growth over the past few years driven by increasing consumer awareness regarding the benefits of natural and organic personal care products. Frankincense extracts contain anti-aging and anti-inflammatory properties that are highly beneficial for skin care products. Many leading brands are launching new products containing frankincense extracts to cater to the rising demand. The growing popularity of natural essential oils is creating significant opportunities for manufacturers of frankincense extracts.
Growing E-commerce Sales of Aromatherapy Products
The aromatherapy industry has witnessed a growth in e-commerce sales over the past few years with more people shopping online during the pandemic. Major e-commerce platforms have started offering wide variety of aromatherapy products containing different essential oils. This has made frankincense essential oil and extracts more accessible to global consumers. Companies are finding online retail channels an effective way to promote their brand and products. The rise of e-commerce creates new opportunities for manufacturers of frankincense extracts to expand consumer outreach.
Increasing Popularity of Clean Label Products
Consumers are increasingly demanding personal care and food products with natural ingredients and no harmful chemicals. There is a rising trend of "clean label" where companies highlight the natural/organic status of ingredients on product labels. Frankincense extracts contain therapeutic properties and have no unwanted chemical compounds. They are marketed as clean label ingredients suitable for products targeting health conscious consumers. The emphasis on minimal processing has propelled use of frankincense extracts instead of synthetic essential oils. This trend will drive stronger demand going forward.
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Top Companies Featured in This Report:
★ De Monchy Aromatics Limited
★ AOS Products Private Limited
★ TriVita Inc.
★ Edens Garden Inc.
★ Prime Natural Beauty
★ Phyto Life Sciences P. Ltd.
Market Segmentation:
By Product Type:
★ By Product Type: Pharmaceutical Grade, Cosmetic Grade, Others
By Applications:
★ By Application: Oral Care, Skin Care, Medicine, Perfumes, Aromatherapy, Others
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Inquiries Addressed in this Report include:
📈 What was the size of the Frankincense Extracts Market in 2024, and what is the projected value by 2031?
📈 What is the present global market landscape for the Frankincense Extracts Market?
📈 What strategies offer optimal opportunities for growth maximization in the business?
📈 What recent trends are shaping the Frankincense Extracts Market?
📈 How does the market share of Frankincense Extracts Market revenue, sales, and size vary across specific geographical regions?
📈 Who are the prominent industry players in the Frankincense Extracts Market?
📈 Which segment of the Frankincense Extracts Market is experiencing heightened demand?
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Frankincense Extracts sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
💎 Request For Customization at: @ https://www.coherentmarketinsights.com/insight/request-customization/1889
Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)
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