Global Frankincense Essential Oil Market Size
Market for essential oils containing frankincense was valued at US$ 220.38 billion globally in 2020 and is projected to grow at a compound annual growth rate (CAGR) of 7.4% to reach US$ 446.96 billion by 2030.
Frankincense is a resin that has hardened and resembles gum that is extracted from the Boswellia tree trunk. Its oil appears to eradicate the fungi and bacteria. It is frequently used in soaps, lotions, and perfumes as a fragrance. Numerous potential health advantages include reducing bleeding, accelerating the healing of wounds, enhancing oral health, combating inflammatory diseases, and more. Frankincense oil is used in traditional medicine and is also beneficial for digestion and arthritis. Its versatility has earned it the title "king of oil." It improves the appearance of healthy-looking skin, evens out skin tone, and reduces the visibility of imperfections. It must be diluted before being applied to the skin because it cannot be used directly on skin. The oil of Frankincense has a distinct In addition to having a woodsy, spicy scent that is ideal for fostering spirituality, frankincense oil tightens the skin and minimizes wrinkles and large pores.