Boswellia extract is one of the herbal product which is available in a large amount, mostly nearby the forests of Central and Western India. There are many types of Boswellia extract trees such as Boswellia Extract Sacra and Boswellia extract carteri, which grow in regions of Oman and North Africa. The global market size is expected to reach US $XXMn. by 2027 from US $XXMn. in 2019, at a CAGR of XX% during the forecast period. The objective of the Boswellia extract market report is to help the user understand the market in terms of its definition, segmentation, market potential, key trends, and the challenges that the market is facing with 5 key regions and 39 key countries. The report has profiled fifteen plus key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimation the size of the same.
Global Boswellia Extract Market Dynamics:
The increasing population who are aware of the natural health benefits of Boswellia extract coupled with increasing the pharmaceutical industries and companies that are manufacturing many types of products from Boswellia extract is a major factor expected to drive the global market. Also, the key drivers of the Boswellia extract market include increasing pharmaceutical applications, high demand for Boswellia extracts in aromatherapy to reduce anxiety and stress, increasing the prevalence of skin-related issues, such as eczema and acne due to side effects of beauty products. The Boswellia extract has wider application in food beverages, cosmetics personal care, aromatherapy, pharmaceuticals, and others. Moreover, the pace at which new technologies are impacting the food sector is high, and it has become necessary for producers to increase the speed and scale of their RD efforts, which may open up new opportunities for the global market.
On the other hand, Boswellia may cause gastrointestinal distress, including stomach pain, nausea, and hyperacidity, which may hinder the growth of the Boswellia extract market. Also, the high cost of the product is among a key factor limiting the growth of the global market.
Global Boswellia Extract Market Segmentation:
Boswellia extract market is segmented into form, application. Based on form segment, the global market is classified into powder and liquid. Furthermore, the application segment is divided into Pharmaceutical, Food Beverage, Aromatherapy, and Others.
Powder Segment Held The Largest Market Share Of The Global Market In 2019.
Among the form segments, the powder segment held the largest market share of XX% in 2019, this is mainly because of technological advancement for shelf-life of the product.
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Food Beverage Industry Is Leading In The Global Market In Terms Of Revenue Share
By the application segment, the food beverage industry is leading in the global market in terms of revenue share. As there is a higher demand for Boswellia in the food beverage industries. Also, the Pharmaceutical industry segment is expected to hold the largest market share of XX% of the global market by 2027, because of increased applications. These applications can be attributed to their beneficial properties, such as antibacterial, anti-inflammatory, antifungal, and others.
Global Boswellia Extract Market Regional Insights:
North America Held The Largest Market Share Of The Global Market In 2019
North America held the largest market share of the global market in 2019 and is expected to remain steady dominant over the forecast period. This is mainly because consumers are becoming more health-conscious and are resulting in increasing demand for nutritious food majorly from the US and Canada. Also, the Boswellia extract is broadly used as a flavoring agent in a bakery product such as biscuits, pastries, cookies, and in North America. Asia Pacific market is enjoying the leading position in terms of revenue.
The objective of the report is to present a comprehensive analysis of the Global Boswellia Extract Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers
The report also helps in understanding Global Boswellia Extract Market dynamics, structure by analyzing the market segments and project the Global Boswellia Extract Market size. Clear representation of competitive analysis of key players By type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Boswellia Extract Market makes the report investor’s guide.
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Scope of the Global Boswellia Extract Market :Inquire before buying
Global Boswellia Extract Market, By Form
Global Boswellia Extract Market, By Application
• Food Beverage
Global Boswellia Extract Market, By Region
• North America
• Asia Pacific
• Middle East Africa
• South America
Key players operating in the Global Boswellia Extract Market
• Alchem International
• Arjuna Natural
• Venkatesh Natural Extract Pvt Ltd.
• Now Foods
• Alps Pure
• Ambe NS Agro Product Private Limited
• Herbal Creations
• Jayshree Nath Herbals
• Sanat, S.A.
• Hernal BioActives LLP
• Marven Bio Chem
• Manus Aktteva BioPharma LLP
• Sydler India
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