Myrrh Essential Oil Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026


Transparency Market Research

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Myrrh Essential Oil: Market Outlook

An essential oil is a liquid taken from different parts of plants, containing an aroma or a fragrance compound. Essential oils are also called aetherolea, volatile oils or ethereal oils. An essential oil is considered to be ‘essential’ as it contains the essence of the plant, which imparts the fragrance and the aroma to the oil.

Essential oils are mainly used in cosmetics, soaps, perfumes and other personal care products. They are also used in the food and beverage industry to impart aroma to a food product. Further, essential oils are widely used during aromatherapy as they induce relaxation in the body.

Different types of essential oils are available in the market such as cinnamon essential oil, clove essential oil, lemon essential oil, myrrh essential oil, ginger essential oil, cumin essential oil, rosewood essential oil and sandalwood essential oil. Myrrh essential oil has been used for many years in incense and perfumes as it helps promote physical and emotional health and has also been used for healing wounds.

Unique Medicinal Properties of Myrrh Essential Oil Lending Applications in Pharmaceuticals

Myrrh is a resin that comes from a tree named Commiphora Myrrha. Myrrh and myrrh essential oil are commonly found in the Middle East and Africa. Traditionally, myrrh essential oil was used for embalming and treating hay fever and as a fragrance, a flavoring agent and an antiseptic to treat wounds and stop bleeding. Myrrh essential oil inhibits the growth of microbes inside the body due to its antimicrobial properties, which subsequently reduces problems caused due to microbial infections.

Myrrh essential oil is used as an effective face cleanser as it helps to moisturize and tighten the skin. It is also used in cosmetics to provide a pleasant fragrance and moisture. Myrrh essential oil is used mainly in aromatherapy as it helps reduce discomfort caused due to respiratory problems and relieves cold, cough, congestion and phlegm. It is also known to stabilize emotions, promote the grounded feeling and shift negative moods. Myrrh essential oil possesses anti-inflammatory properties as it helps sedate inflammation in the case of viral infection and fever. It also has an astringent property, which prevents excessive bleeding from wounds.

Considering the various benefits of myrrh essential oil, the market is expected to have a positive outlook over the forecast period.

Global Myrrh Essential Oil Market: Segmentation

On the basis of end use, the global myrrh essential oil market has been segmented as:

  • Food and Beverage
  • Household Care
  • Healthcare
  • Cosmetics and Personal Care

On the basis of applications, the global myrrh essential oil market has been segmented as:

  • Aromatherapy
  • Skin Care
  • Flavoring Agent

On the basis of distribution channel, the global myrrh essential oil market has been segmented as:

  • Supermarkets/Hypermarkets
  • Convenience Stores
  • Specialty Stores
  • Pharmaceuticals
  • Online Retail

Global Myrrh Essential Oil Market: Market Participants

Some of the market participants operating in the global myrrh essential oil market identified across the value chain include PRZ, Dève Herbes, Rocky Mountain Oils, LLC, Mountain Meadow Herbs, Inc., Ryaal Essentials, Kazima Perfumers, BrownBoi, Moksha Lifestyle Products, Riya Agro Products, Frankie and Myrrh, Kapco International Ltd., India Essential Oils, Florihana Distillerie, VedaOils, Ambre Blends, Naissance Trading and Alabama Essential Oil Company.

Key Developments in the Myrrh Essential Oil Market

In 2018, Ambre Blends was featured in most of the health and wellness, cosmetic and personal care magazines such as Organic Spa, New Beauty Magazine, Harper’s Bazaar Australia, and many other fashion blogs, which helped create awareness among consumers regarding the benefits of myrrh essential oils.

Opportunities for Participants in the Myrrh Essential Oil Market

The myrrh essential oil market is pegged to have high potential for growth, owing to the various health benefits of myrrh essential oils. Populations in regions such as Northern America and Latin America use myrrh essential oils on a daily basis. If the same practice is adopted by other regions, the myrrh essential oil market is likely to witness phenomenal growth over the forecast period.

Brief Approach to Research

The company follows a modeling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the types, forms, ingredients, and end uses of the product segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level and consolidated and synthesized at a global level to estimate overall market sizes.

Key Data Points Covered in the Report

Some of the key data points covered in our report include:

  • An overview of the market, including background and evolution
  • Macroeconomic factors affecting the market and its potential
  • Market dynamics, such as drivers, challenges, and trends
  • Detailed value chain analysis of the market
  • The cost structure of the products and segments covered in the study
  • In-depth pricing analysis, by key product segments, regions and by major market participants
  • Analysis of supply and demand, such as top producing and consuming geographies, imports/exports, and overall trade scenario
  • Analysis of the market structure, including a tier-wise categorization of key market participants
  • Competitive landscape of the market, including detailed profiles of the top players in this market

MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.

The report provides the following information:

  • Tailwinds and headwinds molding the market’s trajectory
  • Market segments based on products, technology, and applications
  • Prospects of each segment
  • Overall current and possible future size of the market
  • Growth pace of the market
  • Competitive landscape and key players’ strategies

The main aim of the report is to:

  • Enable key stakeholder’s in the market bet right on it
  • Understand the opportunities and pitfalls awaiting them
  • Assess the overall growth scope in the near term
  • Strategize effectively with respect to production and distribution

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