The global demand for Olibanum Gum Market is presumed to reach the market size of nearly USD XX MN by 2027 from USD XX MN in 2020 with a CAGR of XX% under the study period 2021 - 2027.
Olibanum Gum is a dried, sticky exudation derived from numerous Burseraceae tree species. It is also known as Frankincense. Olibanum gum is an aromatic resin used in incense and perfumes. Gum Olibanum comes in tiny tears or lumps that are white-yellowish or yellow-reddish and have a faint fragrance. It is available in various characteristics ranging from dust to siftings, pea-size to tears. Olibanum gum is edible and is used in traditional African and Asian medicines for digestion and skin health.
The global olibanum gum market has shown rapid growth in recent years, owing to increased demand from the flavour and fragrance industry. Rising demand for natural gums is one of the critical factors to drive the market over the projected period. Expanding the application scope of olibanum gum in a wide range of industrial uses such as beverages, candies, pharmaceuticals, chewing gums, confectionery, dairy products, canned vegetables, and gelatin is anticipated to contribute to the market growth. Because of its distinct aroma, olibanum gum is expected to grow in popularity. Furthermore, it is employed as a burning incense in religious events, which is expected to impact market growth positively. Additionally, the rising demand for thickeners, stabilizers, emulsifiers, and fixatives in the food industry is expected to boost market growth.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of olibanum gum. The growth and trends of olibanum gum industry provide a holistic approach to this study.
This section of the olibanum gum market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Olibanum Gum market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Olibanum Gum Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the olibanum gum market include Alfarid, East African Gum Trading, Babulal Sarabhai, Penn Herb, HPI Gums, Madina Industrial. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information based on primary and secondary research. Secondary research has been done using various sources, including (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications. Additionally, our team conducts extensive primary research with key industry participants to gather first-hand data. The data is then analyzed and validated by industry experts.
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