Boswellia Extract Market – Global Industry Analysis and Forecast (2023-2029) by Type, Application and Region

Boswellia Extract Market was valued at US $ 64.30 Mn. in 2022. Global Boswellia Extract Market size is estimated to grow at a CAGR of 4.2%. The market is expected to reach a value of US $ 85.76 Mn. in 2029.
Boswellia Extract Market Overview:
Boswellia is an herbaceous good that is accessible in a huge amount predominately in the forest of central and western India. There are numerous types of Boswellia extract trees like Boswellia extract Sacra and Boswellia extract carteri, which is generally flourished in the North African region. Originally Boswellia is venomous and is easily accessible in the pharmaceuticals industries. Boswellia seems to be nonharmful for nature and their product is practicable plenteously in the country. Boswellia Extract is generally recognized for its lethal amplification and also its ability to see provoking issues. It also decreases the various diseases like ligament issues, joint pain, and also retards yielding from poisonings. Apart from that the enormity present in the Boswellia plant is available in Ayurveda and is also used in cosmetic products. There is a high demand for Boswellia extract products in various industries like perfume-making, manufacturing, food & beverages, and pharmaceuticals.

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2022 is considered as a base year to forecast the market from 2023 to 2029. 2022’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2029. 2020 is a year of exception and analyzed especially with the impact of lockdown by region.
Boswellia Extract Market Dynamics:
Increase in community and awareness of health advantages, there is a high demand for the Boswellia extract market in the pharmaceutical industry. The manufacturing & cosmetic industry plays a vital role to boost the Boswellia extract market. There is a high demand for Boswellia extract products in aromatherapy that depletes distress and anxiety, people are tending towards health awareness which is a key booster for driving the Boswellia extract market. Boswellia products also reduce several diseases like skin-related issues, inflammation, nausea, indigestion, joint pain, and allergies. It has a broader application in the food & beverages industry which creates a huge demand for the Boswellia extract market. Most of the Cosmetic & personal care products are also made from Boswellia extract items which create lucrative growth for the market. An increasing number of pharmaceutical manufacturer focuses to target consumers by giving variety to the product. Thus these major factor is the major reason for driving the Boswellia extract market.

There is a wide usage of Boswellia product in the Ayurveda industry, in which it has various side effects of herbs that include gastrointestinal problems, allergy rashes, cold sore, blister, hives, actinic keratosis, and rosacea which creates major factors for restraining the Boswellia extract market. Growing competition from generic pharmaceuticals, wider consumer expectancies, facing challenges in brand health, and pharmaceutical fraud also affect the growth of the Boswellia extract market.

However on the other side apart from physical health, cosmetic products in the Boswellia extract market can help to boost mood, enhance appearance, and also help to expose personal style and significant means of social laconism. Most Boswellia products may help with rabble-rousing stipulations such as arthritis, fiery bowel disease, asthma, etc. which creates a huge opportunity for the Boswellia extract market. The Boswellia extract product is safely consumed in doses up to 1000mg daily for up to 6 months as well which also creates a huge benefit for the market. Curing several diseases is also creating lucrative growth and major opportunities for the Boswellia extract market.

Boswellia is an ingenuous extract, however, it can tranquil side effects, and it may give rise to digestive side effects, acid hypoglycemia, dysentery, and others. When using Boswellia some people is encountering skin rashes if they exert it directly to the skin. Boswellia can also port with the different activity of certain drugs which also includes carbamazepine medicines. These major factors are creating a major challenging factor for the Boswellia extract market.
Boswellia Extract Market Segment Analysis:
Based on by Form, the market is segmented as powder and liquid. The powder segment of Boswellia extract is expected to dominate the market during the forecast period. Due to the changing lifestyle preference of people is tending towards the powder segment. Biotic Boswellia extract powder consumes a supplement with 68% boswellic acid. With the help of boswellic powder, it supports joints, knees, bones, and pet-friendly products in the Indian region. The major reason for dominating the powder segment is that it is an essential anti-inflammatory, can be used as a pain killer, and also cure the disease of cartilage.

However, the liquid segment is expected to grow at a CAGR of xx% during the forecast period. There is technological advancement in this segment which is considered to be the shelf life of the Boswellia extract product. The liquid segment comes with a variety of range of packaging options that generally attract the consumer effectively. The Boswellia liquid is more costly as compared to Boswellia powder and less preferable in the market.

Based on Application, the market is segmented as Pharmaceuticals, Food & Beverages, Aromatherapy, and Others. The food & beverage segment t is expected to dominate the market during the forecast period. An increase in demand for Boswellia products in the food & beverage industry is driving the market. Consumption of various Boswellia foods may increase the human's immune system and it can have lymphocytes and T-cells inside the body. Boswellia extract food is nutritious to the human body and also helps to prevent heart disease, cancer, diabetes, etc. Boswellia is generally known for herbal food which consists of lower sugar levels and also improves brain function. The major factor for driving the Boswellia food is that it may help to decrease blood clots disease and anti-carcinoma resources.

However, the pharmaceutical industry is expected to grow at a CAGR of xx% during the forecast period. It is possibly effective for Osteoarthritis, Ulcerative colitis. 78% of people can induce disease suspension from ulcerative colitis. Apart from this, it is also helpful for skin damage caused by radiation therapy. 2% Boswellia extract found when applying for skin cream during radiation treatment. Boswellia is possibly safe for using it as medicine. Although Boswellia in aromatherapy manages pain, improve sleep quality, soothe sore joints, and also fight for various bacteria and viruses. Boswellia is also known for holistic healing treatments in which aromatherapy is used to promote health benefits.
Boswellia Extract Market Regional Insights:
The North American region is expected to dominate the Boswellia extract market during the forecast period. This region has a higher consumer base in terms of the food industry. The increase in awareness of health-conscious people is growing rapidly. The demand for nutritious food gives immense growth for the Boswellia extract market. U.S and Canada are considered as highest consumption of Boswellia products. This product also gives a variety of flavors to attract the consumer sub-sequentially. Most of the bakery items are majorly used such as biscuits, pastries, cookies in the North American region. In terms of revenue, Canada held the largest market share of Boswellia products. The cosmetic and personal care products also help to boost the market in this region

However, the Asia Pacific region is expected to grow at a CAGR of xx% during the forecast period. Growing disposable income and increase in demand of pharmaceutical industry help to boost the Boswellia extract market. India, China, and japan consist of the highest market share of the Boswellia extract market. The high demand for the pharmaceutical drug is driving the market consistently in this region.

The objective of the report is to present a comprehensive analysis of the Boswellia Extract Market to the stakeholders in the industry. The past and current status of the industry with the 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 include market leaders, followers, and new entrants.

PORTER, 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 analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help understand the Boswellia Extract Market dynamic and structure by analyzing the market segments and projecting the Boswellia Extract Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Boswellia Extract Market make the report investor’s guide.
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Boswellia Extract Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 64.30 Mn.


Forecast Period 2023 to 2029 CAGR:
4.2%
Market Size in 2029:
US $ 85.76 Mn.


 Segments Covered:
by Form
• Powder
• Liquid


by Application
• Food & Beverages
• Pharmaceuticals
• Aromatherapy
• Others



Boswellia Extract Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Boswellia Extract Market Key Players:
• Sydler India
• Manus Aktteva biopharma LLP
• Marven Bio Chem
• Hernal BioActives LLp
• Sanat, S.A
• Jayshree Nath Herbals
• Herbal Creatiions
• Ambe NS Agro product pvt ltd.
• Alps Pure
• Now Food
• Venkatesh Natural Extract pvt ltd.
• Arjuna Natural
• Alchem International
• Bioprex Labs
• Sandhus
• Siri’s Impex
• Himalayan Herbaria

Frequently Asked Questions:

1] What segments are covered in the Boswellia Extract Market report?
Ans. The segments covered in the Boswellia Extract Market report are based on Forms and Applications.

2] Which region is expected to hold the highest share in the Boswellia Extract Market?
Ans. The North American region is expected to hold the highest share in the Boswellia Extract Market.

3] What is the market size of the Boswellia Extract Market by 2029?
Ans. The market size of the Boswellia Extract Market by 2029 is US $ 85.76 Bn.

4] What is the forecast period for the Boswellia Extract Market?
Ans. The Forecast period for the Boswellia Extract Market is 2023-2029.

5] What was the market size of the Boswellia Extract Market in 2022?
Ans. The market size of the Boswellia Extract Market in 2022 was US $ 64.30 Bn.