Frankincense is extracted from genus Boswellia trees and is belonging to the family of Burseraceae- a flowering plant. It is also known as olibanum and is widely used to make incense and perfumes. Native to Oman, Northen Somalia, Ethiopia, and South Yemen, Frankincense produces resins. As Frankincense extract is mainly produced in Somalia and Ethiopia, the growth of Frankincense extract market is witnessed mainly in Africa region. Frankincense extract does not only nourishes your skin but has also medical properties. For example, it is used to treat several inflammatory diseases such as bowel diseases, asthma, and other allergies. Frankincense is an effective treatment for arthritis.
In the Middle East region, Frankincense trees have greater importance. The people in Egypt, in particular, use the leaves of the Frankincense tree for religious purpose and to make cosmetics. At present, it has been revealed through various studies and research that the oil extracted from Frankincense has properties that assist in relieving skin conditions.
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By Product Type
- Cosmetic Grade
- Pharmaceutical Grade
- Oral Care
- Skin Care
Pharmaceutical Grade segment is expected to grow at remarkable growth rate. Due to an increasing usage of cosmetics particularly amongst youngsters cosmetic grade segments is likely to grab is significant market share during the projected years.
Top Players in the Market
Phyto Life Sciences P. Ltd., De Monchy Aromatics Limited, Prime Natural Beauty, AOS Products Private Limited, Edens Garden Inc., and TriVita, Inc. are some of the key players that are operating in the global Frankincense extract market.
Market Analysis by Regions and Countries
The Middle East and Africa (GCC Countries and Egypt.)
North America (the United States, Mexico, and Canada.)
South America (Brazil etc.)
Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia.)
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