Olibanum Gum Market - Forecast(2023 - 2028)

Report Code: CMR 21707 Report Format: PDF + Excel

Olibanum Gum Market Overview

The Olibanum Gum Market size is estimated to grow at a CAGR of around 3.6% from 2022 to 2027. Olibanum gum is a dried, dummy aromatic resin which is obtained from Boswellia trees. The resin contains major ingredients like incensole acetate. Boswellic acid is available in different qualities from dust, siftings, peasize, to tears. Olibanum gum is used as fumigation Agent, fixatives, flavors & fragrance, release agent emulsifying agent in various sectors like food & beverage, pharmaceuticals, cosmetics, paints, paper rubber. Factors like high demand for food & beverage items, increase in production of paper growing production of rubber are driving the growth of olibanum gum market. However, the digestive side effects of olibanum gum such as nausea acid reflux can impact its usage in some sector like pharmaceutical. This can hamper the growth of olibanum gum industry.

Olibanum Gum Market COVID-19 Impact

Olibanum gum is an aromatic resin which is majorly used in sectors like food & beverage, rubber paper. COVID-19 caused disruptions in the activities of these sectors which negatively impacted the usage of olibanum gum in them. For instance, according to Food Drink Europe, in Q4 of 2020, food drink industry production in EU decreased by 1.8% compared to the previous quarter. Also, according to International Rubber Study Group, in 2020, the global rubber production dropped by 5.7%. Further, according to European Confederation of Paper Industries (CEPI), in 2020, the paper board production in CEPI member countries decreased by 5% compared to 2019. Olibanum gum is majorly used as raw material for making paper rubber, while in food & beverage it is used as emulsifying agent. Hence, the decrease in productivity level of food & beverage, paper rubber sectors reduced the usage of olibanum in them which negatively impacted the growth of olibanum gum industry.

Report Coverage

The report: “Olibanum Gum Market Report – Forecast (2022 – 2027)” by IndustryARC, covers an in-depth analysis of the following segments of the global olibanum gum Industry

By Grades – Food Grade, Pharma Grade, Technical Grade, Others
By Packaging – Bag, Box, Packets, Plastic Drum, Others
By Application – Fumigation Agent, Fixatives, Flavors & Fragrance, Wound Healer, Stabilizers, Emulsifying Agent, Thickeners, Others
By End Use Industry – Food & Beverage (Dairy Products, Candies & Chewing Gum, Gelatin, Others), Cosmetics & Personal Care, Pharmaceuticals, Rubber, Paper, Paints, Others
By Geography - North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherland, Spain, Russia, Belgium, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, New Zealand, Indonesia, Taiwan, Malaysia, Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), Rest of the World (Middle East, Africa)

Key Takeaways

  • Asia-Pacific dominates the global olibanum gum industry as the region consists of major economy China which is the producer of paper rubber in whose production olibanum gum is majorly used.
  • Rapid Urbanization has increased the demand for beverages like wines which has provided growth opportunities to global olibanum gum industry as olibanum gum is used as flavor fixatives in beverage items.
  • Olibanum gum has anti-inflammatory anti-asthmatic properties due to which it has high applicability in pharmaceutical sector where it is used in the treatment of rheumatism, gastrointestinal problems. 

Figure: Asia-Pacific Olibanum Gum Market Revenue, 2021-2027 (US$ Million)

Global Olibanum Gum Market

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Olibanum Gum Market Segment Analysis – By Grade

Technical grade accounted for approximately 45% of global olibanum gum market share in 2021. The technical grade of olibanum is used in sectors like rubber, paint paper where it forms a major ingredient. The rapid developments in these sectors have increased their production level which has positively impacted the demand for olibanum gum in them. For instance, according to World Rubber Industry Outlook report published by International Rubber Study Group, in 2021, natural rubber production rose by 5.7 compared to 2020, reaching 13.79 million tones. Also, according to British Coating Federation, in 2019, UK sale of paints & coatings was valued at US$3.94 billion with 703 million liters being sold. Further, according to Confederation of European Paper Industries (CEPI), in 2021, production of printing writing paper increased by 8% in CEPI member countries. Olibanum gum is used as thickener in paints as raw material in making rubber paper. The increase in production level of paints, paper rubber sector will increase demand for aromatic resin like olibanum gum in them. This will positively impact the growth of global olibanum gum industry.

Olibanum Gum Market Segment Analysis – By End Use Industry

Food & Beverage accounted for approximately 27% of global olibanum gum market share in 2021. Olibanum gum consisting of ingredients like boswellic acid incensole acetate is majorly used in food & beverage sector as emulsifying agent flavor fixative for food items like dairy products in beverages. The growing demand for food drinks items on account of growing consumption level has increased the production level. For instance, according to FoodDrink Europe, in Q3 of 2021, the production level of food drink industry in EU increased by 3.6% compared to Q3 of 2020. Such increase in productivity of food drink industry in EU will create more usage of olibanum gum in the sector. This will have a positive impact on the growth of global olibanum gum industry.

Olibanum Gum Market Segment Analysis – By Geography

Asia-Pacific accounted for approximately 36% of global olibanum gum market share in 2021. Countries like China India are amongst the leading producer of paints, paper, rubber food & beverages. The economic developments of these nations on account of their growing investments in sectors like paint, paper food & beverage has positively impacted the usage of olibanum gum in Asia-Pacific region. For instance, according to India’s National Dairy Development Board, in 2019, milk production of India was 198.4 million tones compared to 187.7 million tones produced in 2018, showing a 5.7% increase. Also, according to China’s National Bureau of Statistics, in 2019, China’s paint sales were 24.16 million tones showing a 38.3% increase compared to 2016. Further, according to China’s National Bureau of Statistics, in 2021, China paper paperboard production was 136 million metric tones showing 6.8% growth from previous year. Aromatic resin like olibanum gum is used in dairy products as flavor fixatives, as thickeners in paints as raw material for paper production. The increase in the production level of these sectors will lead to more usage of olibanum gum in them, resulting positive growth for global olibanum gum industry in Asia-Pacific region.

Olibanum Gum Market Drivers

High Demand for Paper

Olibanum gum which consists of ingredients like incensole acetate boswellic acid, forms a major raw material for producing paper. Rising technological advancements for paper-products have allowed paper to be produced with greater strength longevity, thereby increasing its production volume. For instance, according to Confederation of European Paper Industries (CEPI), in 2021, the paper board production in CEPI member countries increased by 5.8% compared to 2020. Further, according to China’s National Bureau of Statistics, in 2021, paper paper product manufacturers in China generated revenue of more than US$201 billion, showing 21.2% increase compared to 2020. Such increase in paper paper products production will create more usage of olibanum gum as raw material in paper industry. This will boost the growth of global olibanum gum industry.

High Demand for Food Drink products

Food & Beverage industry is one of the main users of olibanum gum, as it is used as emulsifying agent in food products while in beverage drinks it is used as flavor fixatives. The growing demand for food drinks items on account rapid increase in consumption level resulting from improvement in living standards, has positively impacted the usage of olibanum gum. For instance, according to FoodDrink Europe, in Q3 2021, food drink industry turnover in EU increased by 2% compared to previous quarter. Such increase in turnover of food drink sector on account of growing consumption will increase the production level of food drinks items resulting in more usage of olibanum gum in food drink sector. This will boost growth of global olibanum gum industry growth.

Olibanum Gum Market Challenge

Side effects of Olibanum Gum

Olibanum gum which is extracted from Boswellia trees has anti-inflammatory properties due to which it is used in pharmaceuticals sector for making medicines related to infectious diseases. However, the side effects of olibanum leads to serious digestive problems like diarrhea, acid flux nausea. Moreover, it interferes with the action of certain drugs, including some anticoagulant medications antiplatelet drugs. Hence, such side effects of olibanum gum can have negative impact on its applicability in pharmaceutical sector which and can impact on the growth of global olibanum gum industry.

Olibanum Gum Industry Outlook

The companies to develop a strong regional presence strengthen their market position, continuously engage in mergers acquisitions. In the global olibanum gum report, the global olibanum gum top 10 companies are:

  1. Alfarid Corporation
  2. Arid Land Resources Ltd.
  3. Gum Arabic Company
  4. Sacif Eritrea
  5. Vetochem Ltd
  6. Sukhetha Exims Pvt.Ltd
  7. Kachabo Gums
  8. Enkay Indo Nigeria Ind Ltd.
  9. Madina Industrial
  10.  Penn Herb 

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1. Olibanum Gum Market- Market Overview
    1.1 Definitions and Scope
2. Olibanum Gum Market - Executive Summary
    2.1 Key Trends by Grade
    2.2 Key Trends by Packaging
    2.3 Key Trends by Application
    2.4 Key Trends by End Use Industry
    2.5 Key Trends by Geography
3. Olibanum Gum Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5  Pricing Analysis (ASPs will be provided)
4. Olibanum Gum Market - Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Olibanum Gum Market – Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Olibanum Gum Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
    6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Olibanum Gum Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Olibanum Gum Market – By Grade (Market Size – US$ Million/ Billion)
    8.1 Food Grade
    8.2 Pharma Grade
    8.3 Technical Grade
    8.4 Others
9. Olibanum Gum Market – By Packaging (Market Size – US$ Million/ Billion)
    9.1 Bag
    9.2 Box
    9.3 Packet
    9.4 Plastic Drum
    9.5 Others
10. Olibanum Gum Market – By Application (Market Size -US$ Million/Billion)
    10.1 Fumigation Agent
    10.2 Fixatives
    10.3 Flavors & Fragrances
    10.4 Wound healer
    10.5 Stabilizers
    10.6 Emulsifying Agent
    10.7 Others
11. Olibanum Gum Market – By End Use Industry (Market Size -US$ Million/Billion)
    11.1 Food & Beverage
        11.1.1 Dairy Products
        11.1.2 Candies & Chewing Gum
        11.1.3 Gelatin
        11.1.4 Others
    11.2 Cosmetics & Personal Care
    11.3 Pharmaceuticals
    11.4 Rubber
    11.5 Others
12. Olibanum Gum Market - By Geography (Market Size -US$ Million/Billion)
    12.1 North America
        12.1.1 USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Netherlands
        12.2.6 Spain
        12.2.7 Russia
        12.2.8 Belgium
        12.2.9 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zeeland
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East
            12.5.1.1 Saudi Arabia
            12.5.1.2 UAE
            12.5.1.3 Israel
            12.5.1.4 Rest of the Middle East
        12.5.2 Africa
            12.5.2.1 South Africa
            12.5.2.2 Nigeria
            12.5.2.3 Rest of Africa
13. Olibanum Gum Market – Entropy
    13.1 New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Olibanum Gum Market – Industry/Competition Segment Analysis Premium 
    14.1 Company Benchmarking Matrix – Major Companies
    14.2 Market Share at Global Level - Major companies
    14.3 Market Share by Key Region - Major companies
    14.4 Market Share by Key Country - Major companies
    14.5 Market Share by Key Application - Major companies
    14.6 Market Share by Key Product Type/Product category - Major companies
15. Olibanum Gum Market – Key Company List by Country Premium Premium 
16. Olibanum Gum Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10 and more
"*Financials would be provided on a best effort basis for private companies"

LIST OF TABLES

1.Global Olibanum Gum Market, by Type Market 2019-2024 ($M)
2.Global Olibanum Gum Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
3.Global Olibanum Gum Market, by Type Market 2019-2024 (Volume/Units)
4.Global Olibanum Gum Market Analysis and Forecast by Type and Application Market 2019-2024 (Volume/Units)
5.North America Olibanum Gum Market, by Type Market 2019-2024 ($M)
6.North America Olibanum Gum Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
7.South America Olibanum Gum Market, by Type Market 2019-2024 ($M)
8.South America Olibanum Gum Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
9.Europe Olibanum Gum Market, by Type Market 2019-2024 ($M)
10.Europe Olibanum Gum Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
11.APAC Olibanum Gum Market, by Type Market 2019-2024 ($M)
12.APAC Olibanum Gum Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
13.MENA Olibanum Gum Market, by Type Market 2019-2024 ($M)
14.MENA Olibanum Gum Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)

LIST OF FIGURES

1.US Global Olibanum Gum Market Revenue, 2019-2024 ($M)
2.Canada Global Olibanum Gum Market Revenue, 2019-2024 ($M)
3.Mexico Global Olibanum Gum Market Revenue, 2019-2024 ($M)
4.Brazil Global Olibanum Gum Market Revenue, 2019-2024 ($M)
5.Argentina Global Olibanum Gum Market Revenue, 2019-2024 ($M)
6.Peru Global Olibanum Gum Market Revenue, 2019-2024 ($M)
7.Colombia Global Olibanum Gum Market Revenue, 2019-2024 ($M)
8.Chile Global Olibanum Gum Market Revenue, 2019-2024 ($M)
9.Rest of South America Global Olibanum Gum Market Revenue, 2019-2024 ($M)
10.UK Global Olibanum Gum Market Revenue, 2019-2024 ($M)
11.Germany Global Olibanum Gum Market Revenue, 2019-2024 ($M)
12.France Global Olibanum Gum Market Revenue, 2019-2024 ($M)
13.Italy Global Olibanum Gum Market Revenue, 2019-2024 ($M)
14.Spain Global Olibanum Gum Market Revenue, 2019-2024 ($M)
15.Rest of Europe Global Olibanum Gum Market Revenue, 2019-2024 ($M)
16.China Global Olibanum Gum Market Revenue, 2019-2024 ($M)
17.India Global Olibanum Gum Market Revenue, 2019-2024 ($M)
18.Japan Global Olibanum Gum Market Revenue, 2019-2024 ($M)
19.South Korea Global Olibanum Gum Market Revenue, 2019-2024 ($M)
20.South Africa Global Olibanum Gum Market Revenue, 2019-2024 ($M)
21.North America Global Olibanum Gum Industry By Application
22.South America Global Olibanum Gum Industry By Application
23.Europe Global Olibanum Gum Industry By Application
24.APAC Global Olibanum Gum Industry By Application
25.MENA Global Olibanum Gum Industry By Application