FRANKINCENSE EXTRACTS MARKET ANALYSIS

Market Challenges And Opportunities

Drivers

Consumers preference inclined toward natural ingredients in the food and beverages products due to increase in products due to increased rate in health related problems. Frankincense extracts has applications in an emulsifying agents, stabilizer, and flavour in food and beverage industry and it is an opportunity by manufacturers for growth and expansion of the market.

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.

Global Frankincense Extracts Market- Restraints

Frankincense essential oil obtained from its extract 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 needs in rise in demand for aromatherapy, which ultimately boosts the growth of the frankincense extract market. Consumers have preference toward cosmetics and personal care products made with natural and organic ingredients.

There is increased demand for frankincense powder in soaps, shampoo. Increased demand for frankincense result in the decline of boswellia trees. This anticipated to restrain the growth of the frankincense extract market. Frankincense may cause gastrointestinal trouble, such as, stomach torment, queasiness, and hyperacidity. This is likely to hamper the growth of the global frankincense extracts market to some extent in forecast period (2023-2030).