Boswellia Market Synopsis
The global Boswellia Market was valued at USD 100 Million in 2023 and is likely to reach USD 156.47 Million by 2032, increasing at a CAGR of 5.1% from 2024 to 2032.
A common tree in North Africa, the Middle East, and India is the Boswellia serrata. Common names for the sticky secretion or resin that is produced by peeling the bark include frankincense. In Ayurveda, Boswellia is commonly used to treat wound healing, asthma, cough, ulcers, arthritis, and ulcerative colitis. Supplements containing it are offered to promote joint health. The 5-lipoxygenase inhibitor Boswellic acid is the bioactive component of Boswellia.
In a mouse model, it demonstrated cytotoxic, radioactive, anti-inflammatory, and anti-arthritic properties while also preventing intestinal carcinogenesis. Boswellia essential oil has demonstrated antibacterial qualities, and other animal trials indicate that the plant may mitigate insulin resistance and cognitive impairment.
The growing older population offers a significant possibility for the Boswellia exhibition. The global socioeconomic shift toward an aging population will likewise lead to an increase in the health problems associated with aging, especially those pertaining to the joints, including joint pain. Boswellia, well-known for its anti-inflammatory qualities and traditional use to support joint health, is benefiting from this statistical improvement. As older adults look for natural, comprehensive solutions to maintain mobility and reduce pain associated with joint disease, Boswellia supplements provide a possible solution. As we become older, preventative healthcare and general wellness become more important, which raises the demand for distinctive supplements like Boswellia that support healthy aging.
To expand the Boswellia display, it's important to differentiate the products depending on evolving consumer demands and preferences. This may include innovative features such as mixtures of Boswellia and other plant extracts such as turmeric or ginger to provide synergistic health effects. Targeted definitions for specific health conditions, such as joint, digestive, or respiratory support, provide opportunities for product differentiation and advertising. Underutilized delivery methods like as capsules, tablets, topical lotions, and utilitarian food beverages might be examined to satisfy a variety of client preferences and lifestyles. By expanding their product line in this way, Boswellia producers may capture new market segments, strengthen brand loyalty, and enhance sustainable growth within the competitive environment of common wellbeing supplements.
Global Boswellia Market, Segmentation
The Boswellia market is segmented on the basis of Product Type, by Source, by Application and region.
Product Type:
The Product type segment is further classified into Resin, Essential Oils, Extract. Among these, the Boswellia Resin sub-segment accounted for the highest market share in 2023. Boswellia gum has a dominant position in the Boswellia market due to many main characteristics. Initially, it has a rich history and social significance, having been used for millennia in traditional pharmacological systems such as Ayurveda. This long-standing habit has established Boswellia gum as a reliable treatment for a variety of health issues, particularly for its anti-inflammatory and anti-arthritic characteristics.
Boswellia tar includes a variety of bioactive chemicals, including boswellic acids, which are known to have beneficial effects. These compounds have received critical attention from experts and purchasers alike, further solidifying the resin's reputation as a powerful common remedy. Boswellia tar provides versatility in terms of uses and classifications. It may be processed into many forms such as capsules, powders, and extracts, making it available and helpful for buyers to consolidate into their everyday wellbeing schedules.
Application:
The application segment is further classified into Food Supplements, Herbal Medicinal Products, Aromatherapy, Personal Care Products. Among these, the Herbal Medicinal Products sub-segment is anticipated to show the fastest growth by 2032. Boswellia is commonly used in nutritional supplements due to its potential advantages for digestive and respiratory health. As consumers increasingly turn to preventative healthcare and holistic methods, Boswellia-based supplements provide a useful and accessible option for maintaining good health.
Boswellia's long history of use in traditional medicine, such as Ayurveda, lends credibility to its efficacy.
The availability of standardized Boswellia extracts allows for precise dosing and definition consistency, improving the viability of these products for targeted health benefits. While fragrance-based treatments and personal care products containing Boswellia essential oil are popular, they may not dominate the market as much as nourishment supplements and home-grown restorative products.
By Product Type
- Resin
- Essential Oil
- Extract
By Source
- Boswellia Papyrifera
- Boswellia Sacra
- Boswellia Serrata
- Boswellia Cartetii
By Application
- Food Supplements
- Herbal Medicinal Products
- Aromatherapy
- Personal Care Products
Region:
The Boswellia market in Middle East & Africa Region is projected to show the fastest growth by 2032. The Middle East and North Africa (MENA) region is a key participant in the Boswellia market, having a long history of producing, trading, and using Boswellia species, particularly Boswellia serrata. The MENA region, which includes Oman, Yemen, and Somalia, has a rich history of Boswellia development and commerce stretching back centuries. These locations are home to Boswellia trees, where the gum has been collected for generations and traded via traditional routes like the Incense Route. This long-standing relationship has cemented Boswellia's cultural and commercial significance in the region, adding to its domination in the Boswellia market. Boswellia gum has been a necessary component of conventional medicine frameworks in the MENA.
Some of the leading Boswellia market players are
- Sabinsa Corporation (India)
- PLT Health Solutions (United States)
- Verdure Sciences (United States)
- Nutra Green Biotechnology Co., Ltd. (China)
- Arjuna Natural Pvt Ltd (India)
- Alchem International Pvt. Ltd. (India)
- Silvateam S.p.A. (Italy)
- AlchemLife (United Arab Emirates)
- Givaudan SA (Switzerland)
- Frutarom Industries Ltd. (Israel)
Key Industry Developments
- In Jan 2024, Researchers find Boswellia, an extract of frankincense, shows anti-cancer activity in small trial, Researchers at MUSC Hollings Cancer Center provided breast cancer patients with an extract of the Boswellia tree probably best known as the source of frankincense and instructed them to take it each day until surgery.
- In Sep 2022, Amouage Announces Long-term Development of UNESCO Frankincense Site in Sultanate of Oman, Amouage has signed a historic partnership with Oman's Ministry of Heritage and Tourism for the development of Wadi Dawkah in the Southern Governate of Dhofar.
Key Findings of the Study
- The growing older population offers a significant possibility for the Boswellia exhibition.
- Underutilized delivery methods like as capsules, tablets, topical lotions, and utilitarian food beverages might be examined to satisfy a variety of client preferences and lifestyles.
- Boswellia gum has a dominant position in the Boswellia market due to many main characteristics.
- The Middle East and Africa region is a key participant in the Boswellia market.
