Chemical Research Report Frankincense Extracts Market | Page 2

REPORT DESCRIPTION
Frankincense Extracts Market Overview
Frankincense, also known as olibanum, is obtained from the trees of genus boswellia belonging to the
Burseraceae family, which is widely used in perfumes and incense. These trees produce resins and are native to
northern Somalia, South Yemen, Ethiopia, and Oman. Frankincense extracts is majorly produced in Ethiopia and
Somalia which is propelling the growth of frankincense extracts market in Africa. Frankincense extract increases
the effects herbs and supplements. Frankincense extracts are good for healthy skin and digestion. It also has
medical properties and is used for treating arthritis and various chronic inflammatory diseases such as asthma,
allergies, and inflammatory bowel disease. Such applications in turn, are expected to fuel growth of the
frankincense extracts market over the forecast period.
Among product types, the pharmaceutical grade segment is expected to account for the largest market share over
the forecast period. This is majorly attributed to the large medicinal applications of frankincense extract, owing to
its antioxidant, astringent, cytophylactic, and disinfectant properties. Among applications, the skin care segment is
expected to account for a significant revenue share over the forecast period due to increasing consumer preference
towards maintaining aesthetic appeal. Additionally, increasing prevalence of skin-related problems such as acne
and eczema, owing to use of synthetic beauty products is in turn, propelling growth of the frankincense market.
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