Frankincense Extracts Market Is Estimated To Witness High Growth Owing To Growing Demand for Natural and Organic Products

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Frankincense Extracts Market Is Estimated To
Witness High Growth Owing To Growing Demand for
Natural and Organic Products
Frankincense Extracts Market The global
Frankincense Extracts market is estimated to be
valued at US302.14 million in 2022 and is
expected to exhibit a CAGR of 8.44 over the
forecast period 2023-2030, as highlighted in a
new report published by Coherent Market
Insights. A) Market Overview Frankincense
extracts are derived from the resin of the
Boswellia tree. These extracts are widely used in
the pharmaceutical, cosmetic, and personal care
industries. In the pharmaceutical industry,
frankincense extracts are used in the production
of anti-inflammatory and anti-cancer drugs. In
the cosmetic and personal care industry, these
extracts are used in skincare products for their
anti-aging, anti-inflammatory, and healing
properties. The growing demand for natural and
organic products is driving the Frankincense
Extracts Market growth for frankincense extracts.
1. Increasing awareness about the benefits of
natural products Consumers
are becoming increasingly aware of the harmful
effects of synthetic
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• ingredients in products. This has led to a
  growing demand for natural and organic products,
  including those containing frankincense extracts.
  The use of natural ingredients in skincare
  products has shown promising results, leading to
  their increased adoption.
• 2. Rising demand for anti-aging products With
  the growing aging population, there is an
  increasing demand for anti-aging products.
  Frankincense extracts have been traditionally
  used for their anti-aging properties, as they
  help improve the appearance of wrinkles, fine
  lines, and sagging skin. This has led to a surge
  in demand for skincare products containing
  frankincense extracts.
• C) SWOT Analysis Strength
• Natural and organic properties Frankincense
  extracts are derived from natural sources and are
  free from harmful chemicals, making them highly
  desirable in the market.
• Multi-functional benefits Frankincense extracts
  offer numerous benefits
• for skincare, including anti-aging,
  anti-inflammatory, and healing properties.
• Weakness
• Limited availability Frankincense extracts are
  obtained from specific regions, making their
  availability limited compared to other skincare
  ingredients.
• High cost The extraction process and limited
  availability contribute to the high cost of
  frankincense extracts, limiting their
  affordability.
• Opportunity
• Increasing demand for natural and organic
  products The growing consumer preference for
  natural and organic skincare products presents a
  significant opportunity for the frankincense
  extracts market.
• Expansion into new markets Frankincense extracts
  have the potential to penetrate new markets, such
  as the food and beverage industry, with the
  introduction of innovative products.
• Threats
• Competition from synthetic ingredients The
  availability of synthetic ingredients with
  similar functionalities poses a threat to the
  adoption of frankincense extracts.

ingredients and labeling requirements may hinder
market growth.
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• D) Key Takeaways
• The global frankincense extracts market is
  expected to witness high growth, exhibiting a
  CAGR of 8.44 over the forecast period, due to
  increasing consumer demand for natural and
  organic products.
• The Asia-Pacific region is expected to be the
  fastest-growing and
• dominating region in the market, driven by the
  rising awareness of natural skincare products and
  the presence of key market players.
• Key players operating in the global frankincense
  extracts market are De Monchy Aromatics Limited,
  AOS Products Private Limited, TriVita, Inc.,
• Edens Garden Inc., Prime Natural Beauty, and
  Phyto Life Sciences P. Ltd.
• In conclusion, the global frankincense extracts
  market is poised for significant growth due to
  the increasing demand for natural and organic
  products. The market dynamics, including the
  awareness about natural products and the rising
  demand for anti-aging products, are propelling
  the market forward. However, limited availability
  and high costs pose challenges to the market's
  growth. Nonetheless, the market has ample
  opportunities for expansion into new markets and
  regions. Key market players are already
  capitalizing on these opportunities to gain a
  competitive edge in the market.