Market Outlook

Boswellia is an Indian herbal product available abundantly in the country, mainly around the forests of Western and Central India. This specific botanical plant is known as Indian Olibanum. Other types of Boswellia trees include Boswellia carteri and Boswellia Sacra, which grow in regions of North Africa and Oman (Middle East). Remarkably, Boswellia appears to be non-toxic and has a history of usage in the pharmaceutical industry. Boswellia extract, also known as Shalaki extract, is derived from the Boswellia tree and made into a very fine powder and transformed into a liquid. Boswellia extract is known for its anti-cancer and anti-inflammatory properties and its ability to manage inflammatory disorders, reduce joint and arthritis pain and speed up healing from infections. Boswellia extract has proved to be beneficial in the prevention of loss of cartilage, in autoimmune diseases, and as an effective painkiller. Researchers have conducted numerous studies on the usefulness of Boswellia extract / Boswellia serrate extract on the human body. Boswellia extract is a fragrant resin that has applications in incense and perfume manufacturing industries. It is safe in nature and is also utilized in food items.

Global Value Share of Herb & Spice Extract Market (2016)

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Reasons for Covering this Title: 

Boswellia extract (Boswellia Serrata Extract), also commonly known as Frankincense oil, is a resin obtained from the botanical plant Boswellia Serrata. Attributing to the natural health benefits of Boswellia extract as a herbal remedy, its adoption is increasing the pharmaceutical industry and companies are producing various types of products from Boswellia extract. Boswellia extract finds applications in many industries such as food, beverage, cosmetics, spa treatment and aromatherapy. Most of the new products released in the market over the past two years were for pharmaceutical and cosmetics industries. The medicinal properties of Boswellia extract are presently widely recognized for its antimicrobial activity and treatment for cancerous diseases. Although there is a very limited market for Boswellia extract in the western world currently, traces have been seen its uses in India and Asia for decades. Attributing to the multiple health and medicinal benefits it offers, Boswellia extract is becoming popular amongst health-conscious consumers and pharmaceutical manufacturers.

Global Boswellia Extract Market: Segmentation:  

By Form:

  • Powder
  • Liquid

By Application:

  • Pharmaceutical
  • Food & Beverage
  • Aromatherapy
  • Others 

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific
  • The Middle East and Africa

Global Boswellia Extract Market: Some of the key Players include 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, and Sydler India, among others.

Boswellia Extract Key Product Launches

New Product Development in the Boswellia Extract Market: Boswellia Extract 250 mg Veg Capsules for Balanced Immune Response

Currently manufacturers are focusing on launching Boswellia extract based products and are investing significantly more in research to develop new product ranges to expand their customer base and enhance their regional presence.

Boswellia Extract Market Opportunities for Market Participants

Anti-inflammatory properties and several other properties of Boswellia extract are increasing the usage of its products in the market, due to which it is witnessing high growth in demand in the cosmetics industry. Boswellia extract also has anti-cancer properties, which will boost the demand for its cosmetic products since people prefer to take treatments that don’t require consumption of medicines. Cosmetics made from Boswellia extract can witness high demand due to their features and wide usage in cosmetics, spa, and herbal treatment. Expansion of global retail chains along with increasing product lines and product portfolio are expected to further drive the growth of the Boswellia extract market.

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Brief Approach to Research

We will follow a modeling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the distribution channel, species, nature, origin and end use of the product segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level, consolidated and synthesized at a global level to estimate the overall market sizes.

Key Data Points Covered in the Report

Some of the key data points covered in our report include

  • An overview of the market, including background and evolution
  • Macroeconomic factors affecting the market and its potential
  • Market dynamics, such as drivers, challenges, and trends
  • Detailed value chain analysis of the market
  • The cost structure of the products and segments covered in the study
  • In-depth pricing analysis, by key product segments, regions and by major market participants
  • Analysis of supply and demand, such as top producing and consuming geographies, imports/exports, and overall trade scenario
  • Analysis of the market structure, including a tier-wise categorization of key market participants
  • Competitive landscape of the market, including detailed profiles of the top players in this market

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis. 

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Boswellia Extract Market

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