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.

Boswellia serrata is a common tree in India, the Middle East and North Africa. The gummy secretion or resin obtained by peeling the bark is commonly known as frankincense or frankincense. Boswellia is widely used in Ayurveda to treat arthritis, ulcerative colitis, cough, ulcers, wound healing and asthma.

• It is also available in supplement form to support joint health. The bioactive compound of Boswellia is Boswellia acid, an inhibitor of 5-lipoxygenase. It showed anti-inflammatory, anti-arthritic, cytotoxic, and radioactive effects and inhibited intestinal tumorigenesis in a mouse model. Other animal models suggest that Boswellia may improve cognitive decline and insulin resistance; and Boswellia essential oil has shown antimicrobial properties.
• Boswellia extracts in clinical trials; a preparation containing Boswellia, Terminalia chebula, and turmeric; as well as Boswellia acid with curcumin have been beneficial in patients with osteoarthritis, although the data are conflicting.
• Boswellia supplements also alleviated tendinopathy symptoms, were comparable to acetaminophen for musculoskeletal pain, and aromatase inhibitor-induced joint pain. Additional studies show benefit in oral aphthous lesions, bronchial asthma, ulcerative colitis, mild irritable bowel syndrome, knee pain, and musculoskeletal pain. Larger trials are needed to confirm these effects.
• In addition, the evidence is inconclusive or negative for the effectiveness of Boswellia against collagenous colitis and has no significant benefit in maintaining remission in patients with Crohn's disease. Previous findings suggest that Boswellia may be effective in reducing brain swelling in brain tumour patients after radiation and radiotherapy, and topical application prevented radiation-induced skin damage in breast cancer patients.
• Boswellia preparations have also helped reduce the density of breast milk, a risk factor for breast cancer, prevent the spread of breast cancer, and reduce genital pain in men with prostatitis-like symptoms.
• The export value of ayurvedic and herbal products amounted to about 628 million U.S. dollars from India in fiscal year 2023. There was a consistent increase in the value of these exports from fiscal year 2020.

Boswellia Market Trend Analysis

Expanding Geriatric Population

• The expanding geriatric populace presents a major opportunity within the Boswellia showcase. As the world's socioeconomics move to a maturing populace, the wellbeing issues related with maturing will increment in like manner, particularly joint-related issues such as joint pain. Known for its anti-inflammatory properties and conventional utilize to bolster joint wellbeing, Boswellia is profiting from this statistic improvement. 
• As more seasoned grown-ups hunt for normal and all-encompassing ways to preserve portability and ease distress related with joint illness, Boswellia supplements offer a promising arrangement. As we age, more consideration is given to preventive wellbeing care and by and large wellness, which increments the request for characteristic supplements that bolster solid maturing, such as Boswellia.
• Manufacturers and retailers can take advantage of this opportunity by fitting their items and promoting endeavours to the extraordinary needs and inclinations of the elderly populace, and in this way advantage from a developing and progressively health-conscious shopper fragment.

Opportunities

Expansion of Product Portfolio in Boswellia Market

• Expanding the extend of items within the Boswellia showcase requires differentiating the run of Boswellia-based items to meet changing consumer needs and inclinations. This may incorporate imaginative details such as combinations where Boswellia and other plant extricates such as turmeric or ginger can be utilized to create synergistic wellbeing benefits.
• Targeted definitions custom-made to particular wellbeing concerns, such as joint wellbeing, gastrointestinal wellbeing or respiratory bolster, offer openings for item separation and advertise entrance. In expansion, unused conveyance strategies such as capsules, tablets, topical creams or utilitarian food-drinks can be investigated to meet diverse customer inclinations and ways of life.
• By expanding their item run in this way, Boswellia producers can capture new market sections, reinforce brand devotion and advance maintainable development within the competitive environment of common wellbeing supplements.

Market Segment Analysis:

Market Segmented based on Product Type, by Source, by Application, and region.

By Product Type, Boswellia Resin Is Expected to Dominate the Market During the Forecast Period 2024-2032

There are two segmentations Resin, Essential Oil and Extract

• Boswellia gum holds a prevailing position within the Boswellia advertise due to a few key factors. Initially, it contains a wealthy chronicled and social noteworthiness, being utilized for centuries in conventional pharmaceutical frameworks like Ayurveda. This longstanding convention has built up Boswellia gum as a trusted cure for different wellbeing concerns, especially for its anti-inflammatory and anti-arthritic properties.
• Boswellia tar contains a assorted cluster of bioactive compounds, counting boswellic acids, which are accepted to be mindful for its helpful impacts. These compounds have earned critical consideration from analysts and buyers alike, advance setting the resin's notoriety as a strong common cure. Boswellia tar offers flexibility in terms of applications and definitions. It can be handled into different shapes such as capsules, powders, and extricates, making it available and helpful for buyers to consolidate into their everyday wellbeing schedules.
• This flexibility permits Boswellia gum to cater to a wide range of shopper inclinations and wellbeing needs, contributing to its dominance within the showcase. The developing shopper intrigued in characteristic wellbeing cures and home-grown supplements has fuelled the request for Boswellia tar.
• As customers progressively look for options to ordinary pharmaceuticals, Boswellia tar stands out as a characteristic, plant-based solution with generally few side impacts. By and large, the combination of historical utilize, demonstrated viability, flexibility, and buyer request positions Boswellia gum as the prevailing item sort within the Boswellia advertise.

By Application, Herbal Medicinal Products held the largest share

By Application Food Supplements, Herbal Medicinal Products, Aromatherapy, Personal Care Products

• Within the Boswellia advertise, nourishment supplements and home-grown therapeutic items rise as overwhelming applications due to their far reaching utilize and developing request driven by health-conscious shoppers looking for characteristic cures. Nourishment supplements, counting capsules, tablets, and powders containing Boswellia extricates or resin, are predominant within the showcase.
• These supplements are well known among shoppers looking to bolster by and large wellbeing and wellness, especially joint wellbeing and aggravation administration. Boswellia's anti-inflammatory and anti-arthritic properties make it a desirable fixing in supplements focusing on conditions like osteoarthritis and rheumatoid joint pain.
• Boswellia's potential benefits for stomach related wellbeing and respiratory conditions assist contribute to its ubiquity in nourishment supplements. As shoppers progressively turn to preventive healthcare and all-encompassing approaches, Boswellia-based supplements offer a helpful and available alternative for keeping up well-being.
• Boswellia's long history of utilize in conventional pharmaceutical frameworks like Ayurveda loans validity to its adequacy, driving buyer believe and adoption of home-grown restorative items containing Boswellia.
• The accessibility of standardized Boswellia extricates permits for exact dosing and definition consistency, upgrading the viability of these items for focused on wellbeing results. Whereas fragrance-based treatment and individual care items joining Boswellia fundamental oil are moreover prevalent, they may not dominate the showcase to the same degree as nourishment supplements and home-grown restorative items.

Market Regional Insights:

Middle East & Africa Region is Expected to Dominate the Market Over the Forecast Period

• The Middle East and North Africa (MENA) locale stands out as a prevailing player within the Boswellia advertise due to its chronicled affiliation with the development, exchange, and conventional utilize of Boswellia species, especially Boswellia serrata. The MENA locale, enveloping nations like Oman, Yemen, and Somalia, encompasses a wealthy history of Boswellia development and exchange dating back centuries. These locales are domestic to the local living spaces of Boswellia trees, where the gum has been gathered for centuries and exchanged along antiquated exchange courses such as the Incense Route.
• This chronicled affiliation has settled in Boswellia's cultural and financial noteworthiness within the locale, contributing to its dominance within the Boswellia market. Boswellia gum has been a necessarily portion of conventional medication frameworks within the MENA locale, where it is utilized to treat different afflictions extending from fiery conditions to respiratory issues.
• Conventional healers and professionals have passed down information and hones encompassing Boswellia's therapeutic properties through generations, maintaining its significance and request in neighbourhood communities.
• This deep-rooted convention of home grown pharmaceutical and social hones assist cements the MENA region's dominance within the Boswellia showcase. The MENA locale remains a noteworthy maker of Boswellia resin, with nations like Somalia, Oman, and Yemen being major exporters.

Market Top Key Players:

The top key companies in the Boswellia Market 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)
• NaturaNectar LLC (United States)
• Pure Encapsulations (United States)
• Himalaya Wellness Company (India)
• Arisun ChemPharm Co., Ltd. (China)
• Al-Hikma Pharmaceuticals (Jordan)
• Anhui Tianzheng Pharmaceuticals Co., Ltd. (China)
• PlantExtrakt GmbH & Co. KG (Germany)
• Hangzhou Gosun Biotech Co., Ltd. (China)
• Ganzhou Tian Rui Chemical Co., Ltd. (China)
• Nature's Way Products, LLC (United States)
• Afriplex (Pty) Ltd (South Africa)
• Ambe Phytoextracts Pvt Ltd (India)
• Shaanxi Honghao Bio-Tech Co., Ltd. (China)
• BOS Natural Flavors (India)
• Somali-Organic (Somalia)
• Yemen Company for Industry & Commerce (Yemen)
• Al-Bahar International (Oman) and Other Major Players.

Key Industry Developments in the Market:

• 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

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power Of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. TECHNOLOGY EVALUATION
   10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   11. ECOSYSTEM
6. BOSWELLIA MARKET BY PRODUCT TYPE (2017-2032)
   1. BOSWELLIA MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. RESIN
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. ESSENTIAL OIL
   5. EXTRACT
7. BOSWELLIA MARKET BY SOURCE (2017-2032)
   1. BOSWELLIA MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. BOSWELLIA PAPYRIFERA
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors and Opportunities
      5. Geographic Segmentation Analysis
   4. BOSWELLIA SACRA
   5. BOSWELLIA SERRATA
   6. BOSWELLIA CARTETII
8. BOSWELLIA MARKET BY APPLICATION (2017-2030)
   1. BOSWELLIA MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. HERBAL MEDICINAL PRODUCTS
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2030F)
      3. Historic And Forecasted Market Size in Volume (2017-2030F)
      4. Key Market Trends, Growth Factors and Opportunities
      5. Geographic Segmentation Analysis
   4. FOOD SUPPLEMENTS
   5. AROMATHERAPY
   6. PERSONAL CARE PRODUCTS
9. COMPANY PROFILES AND COMPETITIVE ANALYSIS
   1. COMPETITIVE LANDSCAPE
      1. Competitive Benchmarking
      2. BOSWELLIA Market Share by Manufacturer (2023)
      3. Industry BCG Matrix
      4. Heat Map Analysis
      5. Mergers & Acquisitions
   2. SABINSA CORPORATION (INDIA)
      1. Company Overview
      2. Key Executives
      3. Company Snapshot
      4. Role of the Company in the Market
      5. Sustainability and Social Responsibility
      6. Operating Business Segments
      7. Product Portfolio
      8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
      9. Key Strategic Moves And Recent Developments
      10. SWOT Analysis
   3. PLT HEALTH SOLUTIONS (UNITED STATES)
   4. VERDURE SCIENCES (UNITED STATES)
   5. NUTRA GREEN BIOTECHNOLOGY CO., LTD. (CHINA)
   6. ARJUNA NATURAL PVT LTD (INDIA)
   7. ALCHEM INTERNATIONAL PVT. LTD. (INDIA)
   8. SILVATEAM S.P.A. (ITALY)
   9. ALCHEMLIFE (UNITED ARAB EMIRATES)
   10. GIVAUDAN SA (SWITZERLAND)
   11. FRUTAROM INDUSTRIES LTD. (ISRAEL)
   12. NATURANECTAR LLC (UNITED STATES)
   13. PURE ENCAPSULATIONS (UNITED STATES)
   14. HIMALAYA WELLNESS COMPANY (INDIA)
   15. ARISUN CHEMPHARM CO., LTD. (CHINA)
   16. AL-HIKMA PHARMACEUTICALS (JORDAN)
   17. ANHUI TIANZHENG PHARMACEUTICALS CO., LTD. (CHINA)
   18. PLANTEXTRAKT GMBH & CO. KG (GERMANY)
   19. HANGZHOU GOSUN BIOTECH CO., LTD. (CHINA)
   20. GANZHOU TIAN RUI CHEMICAL CO., LTD. (CHINA)
   21. NATURE'S WAY PRODUCTS, LLC (UNITED STATES)
   22. AFRIPLEX (PTY) LTD (SOUTH AFRICA)
   23. AMBE PHYTOEXTRACTS PVT LTD (INDIA)
   24. SHAANXI HONGHAO BIO-TECH CO., LTD. (CHINA)
   25. BOS NATURAL FLAVORS (INDIA)
   26. SOMALI-ORGANIC (SOMALIA)
   27. YEMEN COMPANY FOR INDUSTRY & COMMERCE (YEMEN)
   28. AL-BAHAR INTERNATIONAL (OMAN)
10. GLOBAL BOSWELLIA MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By PRODUCT TYPE
       4. Historic And Forecasted Market Size By SOURCE
       5. Historic And Forecasted Market Size By APPLICATION
       6. Historic And Forecasted Market Size By Country
          1. USA
          2. Canada
          3. Mexico
    3. EASTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Russia
          2. Bulgaria
          3. The Czech Republic
          4. Hungary
          5. Poland
          6. Romania
          7. Rest Of Eastern Europe
    4. WESTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Germany
          2. United Kingdom
          3. France
          4. The Netherlands
          5. Italy
          6. Spain
          7. Rest Of Western Europe
    5. ASIA PACIFIC
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. China
          2. India
          3. Japan
          4. South Korea
          5. Malaysia
          6. Thailand
          7. Vietnam
          8. The Philippines
          9. Australia
          10. New-Zealand
          11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    7. SOUTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Brazil
          2. Argentina
          3. Rest of South America
11. INVESTMENT ANALYSIS
12. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies