Boswellia Market - Forecast(2023 - 2028)

Boswellia Market size is estimated to reach $86.4 million by 2027, growing at a CAGR of 3.9% during the forecast period 2022-2027. Boswellia, also termed Indian frankincense, is a herbal extract typically collected from the Boswellia serrata tree. Resin prepared from Boswellia extract has been utilized for centuries in Asian and African folk medicine. It is thought to treat incessant inflammatory sicknesses and a count of additional health conditions. Boswellia is accessible as a resin, pill, or cream. Food supplements like curcumin and Boswellia serrata have been utilized conventionally for anti-inflammatory purposes. Boswellia species are essentially hermaphroditic or dioecious. The inflorescences are in heaps or panicles and are up to 25 centimeters long. The effective application of Boswellia also named Indian frankincense as an essential oil for stress alleviation at the time of aromatherapy is set to drive the Boswellia Market. The soaring application of Boswellia in herbal medicinal products for joint health is set to propel the growth of the Boswellia Market during the forecast period 2022-2027. This represents the Boswellia Industry Outlook.

Report Coverage

The report: “Boswellia Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Boswellia Market.

Key Takeaways

• Geographically, North America Boswellia Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the soaring consumer base in the food industry in conjunction with expanding health awareness with a heightened inclination of consumers towards nutritious diet including food supplements in the North American region.
• Boswellia Market growth is being driven by the surging demand for organic constituents in personal care products involving herbal extracts owing to the expanding consciousness about the advantages of greener products. However, Boswellia may raise the blood flow in the uterus and therefore is not recommended for pregnant and nursing women and this is one of the major factors hampering the growth of the Boswellia Market. 
• Boswellia Market Detailed Analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Boswellia Market report.

Boswellia Market Segment Analysis – By Product Type:

The Boswellia Market based on product type can be further segmented into Resins, Essential Oils, and Extracts. The Extracts Segment held the largest market share in 2021. This growth is owing to the extensive demand for Boswellia extracts in the pharmaceutical industry. Boswellia is also termed frankincense. The soaring application of Boswellia extracts in the manufacturing and cosmetic industry is further propelling the growth of the Extracts segment.

Furthermore, the Essential Oils segment is estimated to grow with the fastest CAGR of 4.3% during the forecast period 2022-2027 owing to the proliferating application of essential oils including Boswellia in an extensive series of conventional, substitute, or complementary therapies included under aromatherapy alleviating stress and anxiety with Boswelia also being termed as frankincense and the surging application of oil in food, cosmetics, soaps, and drinks.

Boswellia Market Segment Analysis – By Application

The Boswellia Market based on the application can be further segmented into Joint Health, Stress/Anxiety Relief, Anti-inflammation, Asthma, Digestive Disorders, Incense, and Others. The Joint Health Segment held the largest market share in 2021. This growth is owing to the soaring application of dietary supplements including Boswellia to manage joint health. Boswellia is also termed “frankincense “. The expanding population of the elderly being susceptible to joint ailments owing to loss of appetite, weakening of the bones, pain in the joints and the adulterated environment is further propelling the growth of this segment.

Furthermore, the Anti-inflammation segment is estimated to grow with the fastest CAGR of 4.5% during the forecast period 2022-2027 owing to the surging application of Boswellia extracts with anti-inflammatory characteristics that can be utilized as an efficient painkiller in case of arthritis with Boswellia serrata generating Indian frankincense.

Boswellia Market Segment Analysis – By Geography:

The Boswellia Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America (Boswellia Market) held the largest share with 35% of the overall market in 2021. The growth of this region is owing to the surging application of Boswellia Supplements attributed to their health advantages in countries like the U.S. in the North American region. Boswellia is a herbal extract from the gum resins of the Boswellia tree and is typically termed “Indian frankincense. The proliferating application of medicines including Boswellia to treat asthma, inflammation, cancer, and more ailments is further propelling the growth of the Boswellia Market in the North American region.

Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like the ampleness of Boswellia in the Asia-Pacific region. Boswellia is termed “Indian frankincense”. The soaring application of Boswellia in the pharmaceutical industry is further fueling the progress of the Boswellia Market in the Asia-Pacific region.

Boswellia Market - Drivers

Surging Advantages Of Boswellia Extract to attend inflammatory conditions Are Projected To Drive The Growth Of the Boswellia Market:

The herb Boswellia serrata, also termed Indian frankincense or Salai guggul, has been utilized in India for centuries to attend to inflammatory conditions like osteoarthritis and asthma. Boswellia extract includes beneficial compounds termed boswellic acids that combat inflammation and decrease oxidative stress. Boswellia bars 5-lipoxygenase (5-LOX), an enzyme engaged in inflammation, and the action of inflammatory proteins termed cytokines. People frequently partake in a Boswellia supplement in the form of capsules or tablets. However, it is also accessible as Boswellia serrata oil or Boswellia tea. One of the principal applications of Boswellia is for joint pain and stiffness which are symptoms frequently endured by individuals with osteoarthritis of the knee, hip, and hand. Boswellia and curcumin are frequently investigated together for their capacity to back a healthy inflammatory response. There is no standard suggested dose of Boswellia. Distinct doses have been utilized in investigations exploring the health advantages. In arthritis investigations,100 mg to 1000 mg of Boswellia extracts or 300 mg to 600 mg of Boswellia with additional herbs were utilized every day. The surging advantages of Boswellia Extract are therefore fuelling the growth of the Boswellia Market during the forecast period 2022-2027.

Soaring Innovations Of Boswellia Are Expected To Boost The Demand Of Boswellia:

As per Cheryl Myers, chief of scientific affairs and education at EuroPharma Inc., EuroPharma’s CuraMed Acute Pain Relief—an integration of BCM-95 curcumin and BOS-10 Boswellia [serrata]—was demonstrated to deliver up to 10 times greater acetyl-11-keto-B-boswellic acid (AKBA) than unstandardized forms. The product employs an emulsified matrix of black sesame extract oil in a tiny and effortless-to-swallow liquid gel. Further updates by Myers indicate that “Black sesame seed oil has been traditionally used in ayurvedic medicine to aid in carrying and dispersing fat-soluble ingredients,” “Plus, it is an anti-inflammatory in its own right, which makes it doubly valuable in this formula.” Considering Dr. Becker's BioNutrients Boswellia Extract was in, Boswellia, also termed Frankincense has been utilized for centuries to assist the body in keeping up a healthy inflammation response without stomach irritation. The Boswellia extract is generated utilizing an organic supercritical Co2 extraction technique to deliver the purest, most powerful organic Boswellia accessible. Every capsule includes 65% standardized organic Boswellia for a yield of 400mg, and 50mg organic Boswellia Co2 Extract 50:1. These kinds of soaring innovations of Boswellia are therefore driving the growth of the Boswellia Market during the forecast period 2022-2027.

Boswellia Market – Challenges

Side-Effects Of Boswellia On Liver Are Hampering The Growth Of The Boswellia Market:

The dosage of Boswellia is subject to the percentage of boswellic acids. Standard dosages include 30–40% boswellic acid. This is commensurate to a dose of 300–500 mg two to three times a day (Maroon et al., 2010 ). Boswellia serrata is also termed Frankincense. Boswellia is acknowledged as an organic pain reliever by itself. Therefore, when integrated with additional analogous acting medications like ibuprofen, aspirin, or naproxen it could have harmful impacts on the liver. For that reason, integrating them is not suggested. Certain investigations demonstrate that Boswellia may organically stabilize blood sugar levels already in the normal range, which could be beneficial for those with endocrine ailments. For this reason, though, it is vital that the herb is not utilized in medicines to control blood sugar are already being partaken owing to Boswellia barring their impacts. These issues are thus hampering the growth of the Boswellia Market.

Boswellia Industry Outlook:

Novel product launches, mergers, and acquisitions, strategic partnerships, collaborations, joint ventures, R&D, and expansion of global retail chains with increasing product lines and product portfolios are key strategies adopted by players in the Boswellia Market. Key companies in this market are:

1. Sabinsa Corporation
2. Arjuna Natural Extracts Ltd.
3. PLT Health Solutions Inc.
4. Alchem International Private Limited
5. Gurjar Phytochem Pvt. Ltd.
6. S.A. Herbal Bioactives LLP.
7. Alpspure Lifesciences Private Limited
8. NOW Foods
9. Venkatesh Naturals Extract Pvt. Ltd.
10. Herbal Creations

• In February 2022, PLT Health Solutions, Inc. declared that it has united with Botanical Liaisons, LLC (Boulder, CO) to engage in a sustainability audit of Indian Boswellia serrata gum resin harvesting and collection practices associated with its application in an extensive series of nutritional supplement uses. The audit assessed sustainability through in-country interviews of field workers, resin consolidators, ingredient manufacturers, and government officials. The third-party audit was subject to an extensive series of environmental, cultural, and economic parameters and deduced: It is evident from the information accumulated from the stakeholders that [sustainability] is backed.
• In March 2022, PLT Health Solutions, Inc. revealed a range of scientific investigations in backing of its Slendacor® Weight Management Complex ingredient that provides novel insights into the mechanisms of action behind its weight loss and body shaping advantages, and which display a thermogenic advantage with a once per day dose that offers formulators of weight management products the capacity to attend to consumers with scientifically-backed metabolism-improving messaging. Two published pre-clinical investigations concentrated on energy expenditure disclose a dual mode of action for Slendacor by way of regulating fat reserves (modulation of adipogenesis and lipolysis) and handling energy expenditure (increasing thermogenesis). A human clinical investigation concentrated on a single daily dose of Slendacor and its impacts on resting metabolic rate.
• In February 2022, PLT Health Solutions, Inc. declared that Earthlight® Whole Food Vitamin D accepted authorization from the Brazilian Health Regulatory Agency (Agência Nacional de Vigilância Sanitária: ANVISA), paving the way for this rare dietary constituent to be utilized in food, beverages and supplements generated and marketed in Brazil. In Brazil, ANVISA is accountable for coordinating, managing, and regulating the actions of registration, examination, and risk control of all novel raw materials. The authorization procedure employed by ANVISA is one of the most exacting in the world.

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