Benzoin Essential Oil Market With The On-Going Trends And Porter’s Five Forces Analysis

Benzoin Essential Oil Market With The On-Going Trends And Porter’s Five Forces Analysis

The benzoin is a gum resin that releases from the bark after tapping and this process can take up to 15 to 20 years. The resin is yellowish when it exudes from the bark and eventually, it becomes brownish-red after the process of thickening and hardening. The resin is cleaned and is available in the powdered form. When this powder is mixed with alcohol, it is referred to as tincture of benzoin. There are two forms of tincture available: simple and compound but the latter one is too strong to be applied on the skin and neither can be used for other purposes attributed to an essential oil.

The principal constituents of the benzoin essential oil are benzoic acid, benzyl benzoate, benzaldehyde, cinnamic acid, coniferyl benzoate, and vanillin. Vanillin is the prime component in the aromatherapy and related incense applications majorly contributing to the vanilla like essence of benzoin essential oil.

 Global Benzoin Essential Oil Market Drivers:-.

The drivers of benzoin essential oil market can be mainly attributed to its manifold properties such as antidepressant, disinfectant, diuretic, vulnery, anti-inflammatory, antiseptic, sedative, carminative, cordial as well as rheumatic. Benzoin is a gum resin or a sap which can be used as a medicine unlike other Styrax tree species. It can be taken orally to reduce swelling in the breathing passage. It can also be used to reduce bleeding from the gums. Moreover, with the amalgamation with other herbs, the benzoin essential oil is also used as a skin protectant. Apart from the popularized incense application, the benzoin essential oil is used to treat bedsores, cracked skin as well as bedsores. The benzoin essential oil market has significant potential in the near future owing to its calm and soothing effect that substantiates its use in aromatherapy. However, despite of the manifold positive effects of benzoin oil on our health, it still requires a substantial push in the nutraceuticals market.

 SEGMENTATION:-

The benzoin essential oil market can be segmented on the basis of application and distribution channels. On the basis of application, the benzoin essential market can be segmented into cosmetics, therapeutics and incense. The benzoin essential oil market is primly pushing forward on the backdrop of its incense application. The use of the benzoin oil is still unable to reach its prime elevation in the apothecary industry. On the basis of distribution channels, the benzoin essential oil market can be segmented into hypermarkets/supermarkets, online retailers, specialty stores, convenience stores and others.

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REGIONAL OUTLOOK:-

The South Asian countries such as India, Indonesia, Singapore, Malaysia, Sri Lanka and others lead as the top exporters as well as manufacturers of the benzoin essential oil market followed by North America and Europe. Most imports have been witnessed by the countries like U.S, Germany, U.K, China, Saudi Arabia, France, and others. Asia will remain as a potential market attributing to the growing economies of India and China. Furthermore, great potential in the benzoin essential oil market can be attributed to its diverse uses.

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