Frankincense Extracts Market Report, by Product Type (Pharmaceutical Grade, Cosmetic Grade, and Others), and by Application (Oral Care, Skin Care, Medicine, Perfumes, Aromatherapy, and Others) - Global Forecast to 2025

  • Published On : Jun 2018 |
  • Pages : 150 Pages |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Frankincense Extracts – Insights

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. According to Centers for Disease Control and Prevention (CDC), eczema and skin problems in the U.S. was 7.2% in 2012, which increased to 11.6% in 2014.

Frankincense may cause gastrointestinal distress such as stomach pain, nausea, and hyperacidity. This in turn, poses as a major factor hampering growth of the frankincense extracts market.

Asia Pacific holds the fastest-growing market for frankincense extracts owing to growing pharmaceutical industry. According to Indian Brand Equity Foundation (IBEF), pharmaceutical industry is the third-largest industry in India in terms of volume and accounted for 20% of the global pharmaceutical industry in 2017. The pharmaceutical market is expected to increase to US$ 55 billion by 2020. Also, the government is involved in various initiatives to promote the pharmaceutical sector in India. For instance, the Department of Biotechnology received US$ 333.3 million in the Union Budget 2017-18, to implement the department’s national biotech strategy. Furthermore, in India, 30.8 tons and 49.3 tons of frankincense were exported and imported respectively during 2014-15.

Europe is expected to hold the dominant market for frankincense extracts, in terms of revenue, over the forecast period. This growth is primarily driven by increasing demand for aromatherapy, as it is used to relieve stress and anxiety. According to Centre for the Promotion of Imports (CBI), an agency of the Netherlands Ministry of Foreign Affairs, Europe is the largest market for essential oils and one of the key markets for aromatherapy. The aromatherapy market is expected to reach US$ 8 billion by 2026 globally. Furthermore, various players are focused on launching new products to expand their product portfolio. For instance, in May 2017, Neal’s Yard Remedies Ltd., launched Frankincense Intense Lift Serum, to help people reduce stress by promoting a sense of relaxation and wellbeing through the aromatic benefits of frankincense oil and frankincense resin extracts.

In India, the frankincense export was valued at US$ 158.6 thousand and import was valued at US$ 167.7 thousand during 2014-15.

Figure 1. Export and Import of Frankincense during 2014-2015

Export

Country Quantity (tons) Value (US$) % Share
Trinidad 30.8 42.6 39%
Mexico 23.4 30.6 30%
Malaysia 3.0 16.7 4%
U.S.A 4.5 13.9 6%
Mauritius 5.3 10.4 7%
France 1.8 7.4 2%
U.A.E 1.1 6.3 1%
Russia 1.4 6.2 2%
Oman 0.8 5.4 1%
Sri Lanka 1.8 4.0 2%
Jamaica 0.9 3.4 1%
Australia 0.1 3.2 0.1%
Others 3.5 8.5 4%
Total 30.8 158.6 100%

 

Import

Country Quantity (Tons) Value (US$) % Share
Yemen Republic 19.9 143.8 40%
Ethiopia 28.8 21.9 58%
Thailand 0.5 1.5 1%
Germany 0.05 0.5 0.1%
Total 49.3 167.7 100%

Major Players in the Global Frankincense Extracts Market

Some of the key players operating in the global frankincense extracts market are De Monchy Aromatics Limited, AOS Products Private Limited, TriVita, Inc., Edens Garden Inc., Prime Natural Beauty, and Phyto Life Sciences P. Ltd.

Frankincense is a resinous tree, popularly known as loban, Indian olibanum or kundur. The frankincense tree produces resins by tapping them. Tapping produces tears (hardened resins) due to their high aromatic content which is used as an incense. In addition to this, it is also used for fumigating preparation in cultural ceremonies, for religious rituals and as a remedy for treating variety of diseases such as inflammatory chronic diseases. Due to this, it is expected to propel growth of global frankincense extracts market. However, it may cause some allergic reactions such as diarrhea, stomach pain, nausea, and others, which is expected to be a major restraining factor for growth of this market.

Market Dynamics

Asia Pacific is expected to be dominant in the global market over the forecast period. This is attributed to steadily growing cosmetics and personal care industry in the region. Japan is one of the largest markets for personal care products in the world. According to the International Trade Administration (ITA), the cosmetics sector in Japan was valued at US$ 13,208 in 2015 and per capita expenditure on personal care and cosmetic products was US$ 174 in 2014. However, decline in the number of tree owing to insect attacks and fire, results in increasing cost of frankincense extracts. This is negatively affecting the growth of frankincense extracts market.

Key features of the study:

  • This report provides in-depth analysis of frankincense extracts and provides market size (US$ Mn and Kilotons (KT)) and Compound Annual Growth Rate (CAGR %) for the forecast period (2018–2025), considering 2017 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
  • It profiles leading players in the global frankincense extracts market on the basis of the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include De Monchy Aromatics Limited, AOS Products Private Limited, TriVita, Inc., Edens Garden Inc., Prime Natural Beauty, and Phyto Life Sciences P. Ltd. among others.
  • Insights from this report would allow marketers and the management authorities of companies to make informed decisions regarding their future product launch, technology up-gradation, market expansion, and marketing tactics
  • The global frankincense extracts market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the frankincense extracts market

Detailed Segmentation:

  • Global Frankincense Extracts Market, By Product Type:
    • Cosmetic Grade
    • Pharmaceutical Grade
    • Others
  • Global Frankincense Extracts Market, By Application:
    • Oral Care
    • Skin Care
    • Medicine
    • Perfumes
    • Aromatherapy
    • Others
  • Global Frankincense Extracts Market, By Geography:
    • North America
      • U.S.
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
      • Canada
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
    • Europe
      • U.K.
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
      • Germany
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
      • Italy
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
      • France
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
      • Russia
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
      • Spain
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
      • Rest of Europe
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
    • Asia Pacific
      • China
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
      • India
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
      • Japan
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
      • ASEAN
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
      • Australia
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
      • South Korea
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
      • Rest of Asia Pacific
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
    • Latin America
      • Brazil
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
      • Argentina
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
      • Mexico
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
      • Rest of Latin America
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
    • Middle East
      • GCC
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
      • Israel
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
      • Rest of Middle East
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
    • Africa
      • North Africa
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
      • Central Africa
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
      • Southern Africa
        • By Product Type:
          • Cosmetic Grade
          • Pharmaceutical Grade
          • Others
        • By Application:
          • Oral Care
          • Skin Care
          • Medicine
          • Perfumes
          • Aromatherapy
          • Others
  • Company Profiles
    • De Monchy Aromatics Limited *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • AOS Products Private Limited
    • TriVita, Inc.
    • Edens Garden Inc.
    • Prime Natural Beauty
    • Phyto Life Sciences P. Ltd

*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Technology
      • Market Snippet, By Disease Indication
      • Market Snippet, By End User
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Epidemiology/Prevalence/Incidence
      • Merger and Acquisitions
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
    • Cost Tier Down Analysis
  4. Global Frankincense Extracts Market, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
    • Introduction
      • Market Share Analysis, 2017 and 2025 (%)
      • Y-o-Y Growth Analysis, 2017 - 2025
      • Segment Trends
    • Cosmetic Grade
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2025, (US$ Million & Kilotons)
    • Pharmaceutical Grade
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2025, (US$ Million & Kilotons)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2025, (US$ Million & Kilotons)
  5. Global Frankincense Extracts Market, By Application, 2016 – 2025, (US$ Million & Kilotons)
    • Introduction
      • Market Share Analysis, 2017 and 2025 (%)
      • Y-o-Y Growth Analysis, 2017 - 2025
      • Segment Trends
    • Oral Care
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2025, (US$ Million & Kilotons)
    • Skin Care
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2025, (US$ Million & Kilotons)
    • Medicine
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2025, (US$ Million & Kilotons)
    • Perfume
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2025, (US$ Million & Kilotons)
    • Aromatherapy
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2025, (US$ Million & Kilotons)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2025, (US$ Million & Kilotons)
  6. Global Frankincense Extracts Market, By Regions, 2016 – 2025, (US$ Million & Kilotons)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2025 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017 - 2025
    • North America
      • Market Share Analysis, By Country, 2017 and 2025 (%)
      • Y-o-Y Growth Analysis, By Country, 2017 - 2025
        • U.S.
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
        • Canada
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
    • Europe
      • Market Share Analysis, By Country, 2017 and 2025 (%)
      • Y-o-Y Growth Analysis, By Country, 2017 - 2025
        • U.K.
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
        • Germany
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
          •  
        • Italy
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
        • France
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
        • Russia
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
        • Spain
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
        • Rest of Europe
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
    • Asia Pacific
      • Market Share Analysis, By Country, 2017 and 2025 (%)
      • Y-o-Y Growth Analysis, By Country, 2017 - 2025
        • China
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
        • India
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
        • Japan
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
        • ASEAN
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
        • Australia
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
        • South Korea
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
        • Rest of Asia Pacific
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
    • Latin America
      • Market Share Analysis, By Country, 2017 and 2025 (%)
      • Y-o-Y Growth Analysis, By Country, 2017 - 2025
        • Brazil
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
        • Mexico
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
        • Argentina
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
        • Rest of Latin America
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
    • Middle East
      • Market Share Analysis, By Country, 2017 and 2025 (%)
      • Y-o-Y Growth Analysis, By Country, 2017 - 2025
        • GCC Countries
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
        • Israel
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
        • Rest of Middle East
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
    • Africa
      • Market Share Analysis, By Country, 2017 and 2025 (%)
      • Y-o-Y Growth Analysis, By Country, 2017 - 2025
        • Northern Africa
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
        • Central Africa
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
        • South Africa
          • Country Trends
          • Market Size and Forecast, By Product Type, 2016 – 2025, (US$ Million & Kilotons)
          • Market Size and Forecast, By Application, 2016 – 2025, (US$ Million & Kilotons)
  7. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • De Monchy Aromatics Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • AOS Products Private Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • TriVita, Inc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Phyto Life Sciences P. Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Edens Garden Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Prime Natural Beauty
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
    • Analyst Views
  8. Section
    • References
    • Research Methodology
    • About Us and Sales Contact

*Browse 180 market data tables and 110 figures on "Global Frankincense Extracts Market - Global forecast to 2025”.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


Smiley face

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Smiley face

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

Choose License Type

"How Can I Help You" ?

Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.

[email protected]

Key Benefits

  • Custom Research Solution

    Talk to our research consultant to design an exclusive report as per your research needs.

  • Customer Fulfilment

    We aim to fulfil client's research demands with tailored research solutions.

  • Quick Turnaround Time Reports

    We aim to provide research studies in quickest turnaround time and in a much cost effective manner.

  • 360-degree Approach

    We cover each industry from supply and demand side with an aim to provide a most holistic research study.

  • Assured Quality

    We strive to provide most accurate and reliable research findings in our research reports.