Global Frankincense Extract Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030

Global Frankincense Extract Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030

According to our (Global Info Research) latest study, the global Frankincense Extract market size was valued at USD 267.5 million in 2023 and is forecast to a readjusted size of USD 423.9 million by 2030 with a CAGR of 6.8% during review period.

The driving factors for frankincense extract can include:



1. Traditional and Cultural Use: Frankincense extract has a long history of traditional and cultural use in various parts of the world, particularly in religious ceremonies, aromatherapy, and traditional medicine. This long-standing cultural significance drives the demand for frankincense extract in these contexts.



2. Aromatherapy and Wellness: Frankincense extract is valued for its aromatic properties, which are believed to have therapeutic effects on mental and physical well-being. It is commonly used in aromatherapy practices to promote relaxation, reduce stress, and improve mood. The increasing interest in holistic health and wellness contributes to the demand for frankincense extract in aromatherapy and related applications.



3. Cosmetic and Skincare Industry: Frankincense extract is known for its potential cosmetic and skincare benefits. It is believed to have anti-aging, anti-inflammatory, and moisturizing properties, making it a sought-after ingredient in skincare products. The demand for natural and plant-based skincare ingredients has driven the use of frankincense extract in the cosmetic industry.



4. Traditional Medicine and Herbal Remedies: In traditional medicine systems, frankincense extract is used for various health conditions, including respiratory disorders, digestive issues, and inflammation. The adoption and interest in traditional medicine practices, as well as the demand for natural and herbal remedies, contribute to the utilization of frankincense extract in these contexts.



5. Research and Scientific Interest: Scientific studies have started exploring the potential health benefits and therapeutic properties of frankincense extract. Research on its anti-inflammatory, anti-cancer, and antimicrobial properties, among others, drives the scientific interest and potential future applications of frankincense extract in medical and healthcare fields.



6. Sustainable Sourcing and Ethical Practices: The demand for sustainably sourced and ethically produced natural ingredients has grown in recent years. This includes resins such as frankincense. The promotion of sustainable harvesting practices, fair trade agreements, and responsible sourcing contributes to the market demand for ethically sourced frankincense extract.



7. Consumer Awareness and Preference for Natural Products: In line with the growing consumer preference for natural and plant-based products, there is an increasing demand for frankincense extract as a natural ingredient. Consumers are seeking alternatives to synthetic ingredients and chemical-based products, and frankincense extract aligns with their preference for natural options.



8. Cultural and Religious Tourism: In locations where frankincense has historical and cultural significance, such as certain regions in the Middle East, there is a demand for frankincense extract as a souvenir or for cultural and religious tourism purposes. This contributes to the demand for frankincense extract in these regions.



These driving factors contribute to the utilization and demand for frankincense extract in various industries, including aromatherapy, skincare, traditional medicine, scientific research, and cultural contexts. Its historical and cultural significance, potential health benefits, aromatic properties, and alignment with consumer preferences for natural ingredients all contribute to the growing market demand for frankincense extract.

The Global Info Research report includes an overview of the development of the Frankincense Extract industry chain, the market status of Medicine (Pharmaceutical Grade, Cosmetic Grade), Skin care (Pharmaceutical Grade, Cosmetic Grade), and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot applications and market trends of Frankincense Extract.

Regionally, the report analyzes the Frankincense Extract markets in key regions. North America and Europe are experiencing steady growth, driven by government initiatives and increasing consumer awareness. Asia-Pacific, particularly China, leads the global Frankincense Extract market, with robust domestic demand, supportive policies, and a strong manufacturing base.

Key Features:

The report presents comprehensive understanding of the Frankincense Extract market. It provides a holistic view of the industry, as well as detailed insights into individual components and stakeholders. The report analysis market dynamics, trends, challenges, and opportunities within the Frankincense Extract industry.

The report involves analyzing the market at a macro level:

Market Sizing and Segmentation: Report collect data on the overall market size, including the sales quantity (K MT), revenue generated, and market share of different by Type (e.g., Pharmaceutical Grade, Cosmetic Grade).

Industry Analysis: Report analyse the broader industry trends, such as government policies and regulations, technological advancements, consumer preferences, and market dynamics. This analysis helps in understanding the key drivers and challenges influencing the Frankincense Extract market.

Regional Analysis: The report involves examining the Frankincense Extract market at a regional or national level. Report analyses regional factors such as government incentives, infrastructure development, economic conditions, and consumer behaviour to identify variations and opportunities within different markets.

Market Projections: Report covers the gathered data and analysis to make future projections and forecasts for the Frankincense Extract market. This may include estimating market growth rates, predicting market demand, and identifying emerging trends.

The report also involves a more granular approach to Frankincense Extract:

Company Analysis: Report covers individual Frankincense Extract manufacturers, suppliers, and other relevant industry players. This analysis includes studying their financial performance, market positioning, product portfolios, partnerships, and strategies.

Consumer Analysis: Report covers data on consumer behaviour, preferences, and attitudes towards Frankincense Extract This may involve surveys, interviews, and analysis of consumer reviews and feedback from different by Application (Medicine, Skin care).

Technology Analysis: Report covers specific technologies relevant to Frankincense Extract. It assesses the current state, advancements, and potential future developments in Frankincense Extract areas.

Competitive Landscape: By analyzing individual companies, suppliers, and consumers, the report present insights into the competitive landscape of the Frankincense Extract market. This analysis helps understand market share, competitive advantages, and potential areas for differentiation among industry players.

Market Validation: The report involves validating findings and projections through primary research, such as surveys, interviews, and focus groups.

Market Segmentation

Frankincense Extract market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.

Market segment by Type
Pharmaceutical Grade
Cosmetic Grade
Other

Market segment by Application
Medicine
Skin care
Oral Care

Major players covered
AMeO
De Monchy Aromatics
DoTERRA
AOS Products Private Limited
Nature's Sunshine Products
TriVita
Edens Garden
Radha Beauty
Majestic Pure
Prime Natural
Mountain Rose Herbs
Fabulous Frannie

Market segment by region, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe Frankincense Extract product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of Frankincense Extract, with price, sales, revenue and global market share of Frankincense Extract from 2019 to 2024.

Chapter 3, the Frankincense Extract competitive situation, sales quantity, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the Frankincense Extract breakdown data are shown at the regional level, to show the sales quantity, consumption value and growth by regions, from 2019 to 2030.

Chapter 5 and 6, to segment the sales by Type and application, with sales market share and growth rate by type, application, from 2019 to 2030.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value and market share for key countries in the world, from 2017 to 2023.and Frankincense Extract market forecast, by regions, type and application, with sales and revenue, from 2025 to 2030.

Chapter 12, market dynamics, drivers, restraints, trends and Porters Five Forces analysis.

Chapter 13, the key raw materials and key suppliers, and industry chain of Frankincense Extract.

Chapter 14 and 15, to describe Frankincense Extract sales channel, distributors, customers, research findings and conclusion.