CAMPHOR MARKET ANALYSIS

Camphor (C₁₀H₁₆O) is a transparent solid obtained from the wood of camphor laurel tree. Camphor is flammable and has a strong aroma. It can be either obtained naturally from the tree or can be produced synthetically from oil of turpentine.

Market Dynamics

• Camphor is commonly used in pain relief balms. Apart from its relaxing smell, it has various pharmaceutical uses such as it helps in increasing blood circulation, stimulating hormones, reducing osteoarthritis, digestion, skin care, and reduces congestion. Apart from pharmaceutical uses, camphor is also used in fragrances and insect repellants. These applications of camphor are useful for people in their day-to-day life. Therefore, the global camphor market is expected to witness growth during the forecast period.
• However, excessive human exposure and intake of camphor can prove to be dangerous and fatal during extreme conditions. Contact of camphor with open wounds can cause poisoning. Few symptoms of camphor toxicity can be vomiting, nausea, burning of mouth, and throat.
• According to the regulations by Indian Food and Drug Administration (FDA), camphor content in any products should not exceed 11%.
• The U.S. Food and Drug Administration (FDA) banned use of camphor as an ingredient in medicines or any other edible item due to its addictive properties.

Market Outlook

• Due to the numerous pharmaceutical uses of camphor in the treatment of arthritis, digestion, congestion, and other illnesses, the demand for the global camphor market is expected to grow during the forecast period.
• Camphor trees are majorly located in Asian parts such as Sumatra and Borneo islands in Indonesia. Also, it is used in household and in pharmaceuticals in the Asia Pacific region on a large scale. Whereas, countries such as U.S. and South Africa have banned the use of camphor due to its addictive properties.
• Therefore, Asia Pacific the global camphor market is expected to witness significant market share during the forecast period.

Key Players

• Key players operating in the global camphor market include Oriental Aromas Ltd., Taiwan Tekho Camphor Co., Ltd, and HIYA INTERNATIONAL.

Key Developments

• Key players are adopting in-organic growth strategies such as merger and acquisition, new product launches in order to gain market share in the global camphor market.
• For instance, in 2016, Camphor & Allied Products Ltd merged with oriental aromatics limited to expand its product portfolio in the camphor market. Oriental aromatics limited is engaged in the business of manufacturing of flavour and fragrances in India and across the globe. The company offers fragrances which are found in soaps, fine fragrances, candles, incense sticks, floor cleaners, and mosquitoes gels. With this merger the Oriental Aromas Ltd wants to strengthen its position in the flavour and fragrances market.
• In September 2019, Palm Organix Company announced to launch of its news product named as ‘Zero THC CBD Lotion w/ Camphor’ in the skincare line in New Jersey. The lotion contains 200 mg of pure Phytocannabinoid Rich Hemp oil combined with menthol, essential oils, and Camphor oil. The combination of CBD with camphor is focusing on pain relief from aches, itching and bruising, pains, and irritation.
• In June 2019, Mother Sparsh launched Natural Insect Repellent with the combination of 100% natural ingredients such as Camphor Oil, Lemon Grass Oil, Citronella Oil, and Eucalyptus Oil. This product focuses on healthcare aspects with no harmful chemicals which is safe and effective.

Market Taxonomy

On the basis of product type, the global camphor market is segmented into:

• Capsule
• Powder
• Oil

On the basis of application, the global camphor market is segmented into:

• Pharmaceutical
• Agriculture
• Food
• Chemicals
• Others

On the basis of region, the global camphor market is segmented into:

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • Italy
  • France
  • Russia
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • ASEAN
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East
  • GCC
  • Rest of Middle East
• Africa
  • Northern Africa
  • Central Africa
  • South Africa