Health

Boswellia Market to Increase at a CAGR of 4.2% by 2026

The revenue generated from Boswellia Market has been estimated to be valued over US$ 85.9 Mn in 2018, which is projected to increase to US$ 119.1 Mn, at a CAGR of 4.2% during the forecast period (2018-2026).

Boswellia Market: Global Industry Analysis 2018-2026

Boswellia is an active compound extracted from a variety of different species of frankincense. Frankincense is an oleogum-resin, also known as olibanum. Boswellia is commonly found in the gum belt in Central Africa, the Middle East, India, and Pakistan. Different species are used in the production of resins, essential oils, and extracts. In our scope of study, the various applications of boswellia covered are its use in herbal medicinal products for joint health, as an anti-inflammatory, and for asthma, digestive disorders, and other applications and uses. Boswellia is also predominantly used as an essential oil for stress relief during aromatherapy.

boswellia market

 

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The different types of boswellia analyzed in the scope of this report include:

  • Resin: Resins are made from boswellia extract, which have been used for centuries in Asian and African folk medicine in order to treat various conditions.
  • Extract: Boswellia extract is a herbal extract taken from the boswellia tree. It is also called Indian frankincense.
  • Essential Oil: Boswellia essential oils are mainly used in aromatherapy, which helps relieve stress and anxiety.

Some of the different varieties of boswellia considered in the scope of this report include:

  • Boswellia papyrifera: Boswellia papyrifera, also known as Sudanese frankincense, is a species of flowering plant and frankincense that is native to Ethiopia, Eritrea, and Sudan.
  • Boswellia sacra: This is the primary tree in the genus boswellia, from which frankincense, a resinous dried sap, is harvested.
  • Boswellia serrate: Boswellia serrata is a plant that produces Indian frankincense, Salai, referred to in Sanskrit as shallaki.
  • Boswellia cartetii: Traditional herbal formulas used to treat inflammatory arthritis in China and India include Boswellia carterii.

Productive Growth for Boswellia papyrifera

Among the source segments, boswellia derived from boswellia papyrifera is anticipated to register a high growth rate of 4.5% in terms of revenue in the global boswellia market, owing to increasing awareness of plant-sourced products and their associated quality by consumers across the globe.

Increasing Demand for Natural Ingredients in Personal Care Products

Consumer inclination to buy natural personal care products is shifting significantly, due to the increasing awareness regarding the benefits of natural and organic ingredients present in them. Consumers are increasingly opting for greener products, owing to the presence of toxic ingredients in synthetic personal care products.

  • Consumers are currently more informed regarding the benefits of using natural ingredients through various social media platforms. The application of natural skincare products improves skin texture, tone, and appearance, owing to the presence of nutrients required to enrich skin health.

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Growing Demand for Natural Ingredients in Joint Health Supplements from the Geriatric Population

A deficiency of fatty acids in the body leads to the attraction of various diseases, owing to which, senior citizens are more prone to diseases because of loss of appetite, weakening of the bones, joint pain, and the polluted environment. This can be addressed by consuming additional dietary supplements for joint health. Boswellia extracts possess anti-inflammatory properties that can be used as an effective painkiller in case of arthritis. This helps in the growth of the boswellia market.

  • According to the United Nations Department of Economic and Social Affairs (UN-DESA) Population Division, in 2013, around 841 million people were aged 60 years and above as compared to 205 million people in 1950. The global population aged 60 and above is projected to go to over 2 billion by 2050.

Essential Oil Consumption in Aromatherapy Gaining Traction Due to the Demand for Natural Ingredients

Aromatherapy, is otherwise known as essential oil therapy, and refers to a range of traditional, alternative, or complementary therapies that use essential oils and other aromatic plant compounds.

  • The primary active ingredients of boswellia are two boswellic acids, which have been found to block the chemical reactions involved in inflammation. People with ulcerative colitis, rheumatoid arthritis, and other inflammatory conditions use it. The results of clinical research indicate that, boswellia acids can rival the anti-inflammatory actions of NSAIDs, without their side effects.

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