Frankincense Essential Oil Market By Nature (Organic, and Conventional), By Distribution Channel (Direct, and Indirect), By End User (Cosmetic and Personal Care Industry, Pharmaceuticals Industry, Food Industry, and Household) and By Region- Trends, Analysis and Forecast till 2030

Frankincense essential oil market accounted for USD 220.38 Billion in 2020 and is estimated to be USD 446.96 Billion by 2030 and is anticipated to register a CAGR of 7.4%.

Frankincense is a hardened gum-like material (resin) that comes from the trunk of the Boswellia tree. Its oil seems to kill the bacteria and fungi. It is commonly used as a fragrance in soaps, lotions, and perfumes. There are a number of possible health benefits including controlling bleeding, speeding up the wound-healing process, improving oral health, fighting inflammatory conditions, etc. The oil from frankincense is used as traditional medicine and also improves arthritis and digestion conditions. It is called the king of oil because of its versatility. It enhances cellular function and the appearance of healthy-looking skin, evening out skin tone and minimizing blemishes. It cannot be directly used on the skin before applying it on the skin it needs to be diluted.  Frankincense oil has a specific spicy and woody aroma which is perfect for spiritual connectedness further, frankincense oil helps in tightening of the skin and reducing the large pores and wrinkles.

Rising awareness regarding the usage of frankincense oil

Frankincense oil used in the promotion of healthy cell regeneration and lowering joint pain, blood pressure and stress among the consumers. So, increasing awareness regarding the benefits of frankincense oil drives the growth of the global frankincense essential oil market. In addition, frankincense oil helps in reducing itching problems, eradicate arthritis pain and inflammation, and promotes sleep & also prevent insomnia, which supports the growth of the global frankincense essential oil market. Moreover, online stores offer frankincense oil at affordable price along with other coupons as well as easy instalment schemes. This is also one of the major factors, which propels the growth of the global frankincense oil market. Furthermore, use of frankincense essential oils as a flavoring and aromatic agent is flourishing across distinct industries such as food & beverages, medical, cleaning home, spa & relaxation fuels the growth of the global frankincense oil market.

However, limited availability of the raw materials and strict regulations on the harvesting and cultivation are factors that restrains the growth of the global frankincense essential oil market.

The global frankincense essential oil market is segmented based on nature, distribution channel, end user, and region.

On the basis of nature, the global frankincense essential oil market is segmented into organic and conventional. Based on distribution channel, the target market is segmented into direct and indirect. On the basis of end user, the target market is segmented into cosmetics and personal care industry, pharmaceuticals industry, food industry and household.

Regional Insights:

In the region, the global frankincense essential oil market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.  Asia Pacific region is expected to account highest CAGR over the forecast period owing to a larger consumer base, along with a higher number of retail outlets in this region. For instance, in India, 30.8 tons and 49.3 tons of frankincense were exported and imported respectively during 2014-15. Further, Europe is expected to hold the major share, in terms of revenue, over the forecast period. This growth can be attributed to increasing demand for aromatherapy, as it is used to relieve stress and anxiety.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global frankincense essential oil market report based on nature, distribution channel, end-user, and region.

Frankincense Essential Oil Market, By Region:

• North America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • U.S.
  • Canada

The key players operating in the global frankincense essential oil market includes ambe phytoextracts private limited, Aromaaz international, Ava plant co., ltd., Bo international, Cn lab, Ecuadorian rainforest, llc., AOS Products Private Limited, Herblink biotech corporation, Kanta enterprises private limited.

• Ambe Phytoextracts Pvt Ltd.
• Aromaaz International
• Ava Plant Co. Ltd.
• BO International
• CN Lab
• Asian Group
• Ecuadorian Rainforest
• AOS Products Pvt Ltd.
• Herblink Biotech Corp.
• Kanta Enterprise Pvt. Ltd.