Global Frankincense Essential Oil Market worth US$ 424.1 Billion 2029 with a CAGR of 7.5 %


Posted July 9, 2021 by Nisha0914

Global frankincense essential oil market is projected to grow from US$ 220.3 billion in 2020 to US$ 424.1 billion by 2029. Global frankincense essential oil market is driven by increasing awareness about the benefits of frankincense oil.

 
The report " Global 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 Region - Global Forecast to 2029" Global frankincense essential oil market is projected to grow from US$ 220.3 billion in 2020 to US$ 424.1 billion by 2029. Global frankincense essential oil market is driven by increasing awareness about the benefits of frankincense oil. Since, frankincense oil has major benefits such as the promotion of healthy cell regeneration, lowering joint pain, lowering blood pressure and stress among the consumers.

Key Highlights:

In March 2019, Neal’s Yard launched their new youth boosting Frankincense Intense hand serum. Harnessing the power of frankincense, rosehip oil, turmeric and Narcissus flower, it works to improve the tone and texture of your hands by lightening dark spots and smoothing skin.
Key Market Insights from the report:

The global frankincense essential oil market accounted for US$ 220.3 billion in 2020 and is projected to register a moderate CAGR of 7.5 % over the forecast period. The market report has been segmented on the basis of nature, distribution channel, end user and region.

By nature, the global frankincense essential oil market is segmented into organic and conventional.
By distribution channel, the global frankincense essential oil market is segmented into direct and indirect.
By end user, the global frankincense essential oil market is segmented into cosmetic and personal care industry, pharmaceuticals industry, food industry, and household.
By region, Asia Pacific region accounted highest CAGR over forecast period due to a larger consumer base, and higher number of retail outlets in this region. Europe is also expected to hold the major share, in terms of revenue, owing to growing demand for aromatherapy.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global 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 (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - forecast till 2029

To know the upcoming trends and insights prevalent in this market, click the link below:

Links:

https://www.prophecymarketinsights.com/market_insight/Global-Frankincense-Essential-Oil-Market-770

The prominent player 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, and Majestic Pure.

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Last Updated July 9, 2021