In a recent published report, Kenneth Research has updated the market report for Boswellia Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Boswellia Market products.
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By the end of 2050, the world’s population aged 60 years and above is anticipated to reach 2 billion, states the World Health Organization (WHO), in one of its statistics. Additionally, several manufacturers are increasingly showing interest for manufacturing healthy beverages, which is also anticipated to drive the growth of the market in the coming years.
Global Boswellia Market was valued at USD $1.6 Billion in the year 2019. Global Boswellia Market is further estimated to grow at a CAGR of 33.2% from 2019 to reach USD $9.04 Billion by the year 2025. Boswellia is a active compound extricated from a wide range variety of types of frankincense. Frankincense is an oleogum-tar, also called olibanum. Boswellia is usually found in the gum belt in Central Africa, the Middle East, India, and Pakistan. Different species are used in the production of resins, fundamental oils, and concentrates. In our extent of study, the different utilizations of boswellia shrouded are its utilization in natural therapeutic items for joint health, as a anti-inflammatory, and for asthma, stomach related clutters, and different applications and employments. Boswellia is additionally transcendently utilized as a basic oil for pressure alleviation amid fragrant healing.
Consumer tendency to purchase common individual consideration items is moving altogether, because of the expanding mindfulness in regards to the advantages of characteristic and natural fixings present in them. Purchasers are progressively settling on greener items, attributable to the nearness of lethal fixings in engineered individual consideration items.
The report includes the company profiles of key producers of boswellia, and the revenue generated from companies across North America, Latin America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). For the estimation of revenue, regional average prices were obtained through quotes from numerous boswellia producers, exporters, and distributors. All the key application segments of boswellia have been considered, and potential applications have been estimated on the basis of secondary sources and feedback from primary respondents. Some of the key data points collected for the modeling approach include the food and beverage sector overview, regional food and beverage outlook, average usage of supplements, including boswellia in food products, and others. The market has been forecasted based on constant currency rates.
Major market players in Boswellia are Sabinsa Corporation, Arjuna Natural Extracts Ltd., PLT Health Solutions, Inc., Alchem International Private Limited, Nutra Green Biotechnology Co., Ltd., Gurjar Phytochem Pvt. Ltd., S.A. Herbal Bioactives LLP, and Alpspure Lifesciences Private Limited.
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Boswellia Market Overview, By Source
*Boswellia papyrifera
*Boswellia sacra
*Boswellia serrata
*Boswellia cartetii
*Others
Boswellia Market Overview, By Product Type
*Resins
*Essential Oils
*Extracts
Boswellia Market Overview, By Application
*Joint Health
*Stress/Anxiety Relief
*Anti-inflammation
*Asthma
*Digestive Disorders
*Incense
*Others
Boswellia Market Overview, By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
Key points covered in this report:
- The historical and current data is provided in the report based on which the future projections are made and the industry analysis is performed.
- The import and export details along with consumption value and production capability of every region is mentioned in the report.
- Porter’s five forces analysis, value chain analysis, SWOT analysis are some additional important parameters used for the analysis of market growth.
- The report provides the clients with the facts and figures about the market on the basis of evaluation of the industry through primary and secondary research methodologies.
- A number of graphs and charts are present in the report that give the clients a clear visual representation of the data and makes it easy to comprehend the report.
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Table of Contents
1. Introduction
1.1 Industry Vision
1.2 Limitations
1.3 Stakeholders
2. Research Methodology
2.1. Research Process
2.1.1. Secondary Research
2.1.2. Primary Research
2.2. Industry Size Estimation
2.2.1. Bottoms-Up Approach
2.2.2. Top-Down Approach
2.2.3. Annual Turnover Process
2.3. Data Triangulation
2.4. Research Assumptions
2.4.1. Assumption
3. Executive Summary
4. Industry Overview
4.1. Introduction
4.2. Strength
4.3. Weakness
4.4. Opportunities
4.5. Threats
5. Industry Trends
5.1. Introduction
5.2. Porter’s Five Forces Analysis
5.2.1. Threat of New Entrants
5.2.2. Threat of Substitutes
5.2.3. Bargaining Power of Buyers
5.2.4. Bargaining Power of Suppliers
5.2.5. Intensity of Competitive Rivalry
6. Boswellia Industry, By Source
6.1. Boswellia papyrifera
6.2. Boswellia sacra
6.3. Boswellia serrata
6.4. Boswellia cartetii
6.5. Others
7.Boswellia Industry, By Product Type
7.1. Resins
7.2. Essential Oils
7.3. Extracts
8.Boswellia Industry Overview, By Application
8.1. Joint Health
8.2. Stress/Anxiety Relief
8.3. Anti-inflammation
8.4. Asthma
8.5. Digestive Disorders
8.6. Incense
8.7. Others
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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